Amylyx Pharmaceuticals shares rose more than 40% Tuesday after the company announced that its experimental treatment for a condition called post-bariatric hypoglycemia, or PBH, reduced the rate of significant blood-sugar crashes by 55% compared with a placebo in a late-stage trial.

PBH, which sets in after a person undergoes bariatric surgery for weight loss, causes severe blood sugar drops after eating and affects roughly 160,000 in the U.S. There are currently no treatments approved by the Food and Drug Administration.

Cambridge, Mass.-based Amylyx plans to submit the drug to the FDA for approval by the end of 2026, and is aiming for a potential commercial launch next year.

The results were "beyond anything we were dreaming of," said Amylyx co-Chief Executive Justin Klee. "We may really be able to make an impact on people's lives."