Amylyx Pharmaceuticals' stock plummeted 8.16% during intraday trading on Thursday, following the release of its first-quarter 2026 financial results.

The biotech firm reported a net loss of $41.3 million, or $0.37 per share, for the quarter, which was wider than both the $35.9 million loss from a year earlier and analyst expectations. The company's results missed consensus estimates for EPS, net income, and operating income, with the higher loss primarily driven by increased research and development expenses related to the clinical development of its investigational drug avexitide for post-bariatric hypoglycemia.

R&D expenses rose to $27.6 million from $22.1 million a year ago, which included $4 million in milestone payments to collaborator Gubra. The company noted that its cash runway is expected to fund operations into 2028, with topline data from the Phase 3 LUCIDITY trial of avexitide anticipated in the third quarter of 2026.