Amylyx PharmaceuticalsNASDAQ: AMLX

NeuroSense Therapeutics Ltd.'s stock rose 6.5% Tuesday, as analysts cheered data from the biotech's late-stage trial of a treatment for the fatal disease amyotrophic lateral sclerosis, or ALS.

Amylyx Pharmaceuticals has agreed to buy the rights to bankrupt drugmaker Eiger BioPharmaceuticals' experimental drug for low blood sugar in a $35.1 million deal, Eiger said in a filing on Friday.

Amylyx (AMLX) makes a formal decision to remove its amyotrophic lateral sclerosis drug from the U.S. and Canadian markets. The company is expected to reduce its workforce by 70%.

Amylyx Pharmaceuticals said on Thursday it would withdraw its amyotrophic lateral sclerosis (ALS) drug from the U.S. and Canada markets after the treatment failed in a crucial late-stage trial.

Following the study's failure, Amylyx (AMLX) is now uncertain whether to pull its orally administered ALS drug from the market. Management has voluntarily decided to pause all promotions of the drug.

Relyvrio, which is sold under the name Albrioza in Canada, is Amylyx's only product.

Amylyx Pharmaceuticals said on Friday its drug to treat a neurological disorder called ALS, or amyotrophic lateral sclerosis, failed to meet the main goal in a late-stage confirmatory study.

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Amylyx Pharmaceuticals, Inc. (AMLX) came out with quarterly earnings of $0.07 per share, missing the Zacks Consensus Estimate of $0.20 per share. This compares to loss of $0.65 per share a year ago.