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Hello, everyone. Damian here with a look at a complicatedly important ALS study, biotech’s latest volatility, and some green shoots for a downtrodden part of the industry.

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What happens to Amylyx if a rival ALS trial works?

Amylyx Pharmaceuticals is in a strange situation. There’s a pivotal study, with data expected any day now, that will determine whether a treatment that would rival the company’s approved ALS drug can slow the progression of the disease. But the results, whether positive or negative, have more complicated implications for Amylyx than one might expect.

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