Amylyx Pharmaceuticals (Nasdaq: AMLX) has priced an upsized public offering of 14,090,000 shares of common stock at $35.50 per share, according to a company statement.

The Cambridge, Mass.-based company expects gross proceeds of $500.2 million before underwriting discounts, commissions, and other offering expenses. Amylyx has also granted underwriters a 30-day option to purchase up to an additional 2,113,500 shares at the same offering price.

The company said it plans to use net proceeds for pre-commercial activities related to its drug candidate avexitide, including securing additional manufacturing capacity, research and development, and general corporate purposes.

The offering is expected to close on or about August 21, 2026, subject to customary closing conditions. Leerink Partners, Morgan Stanley, Guggenheim Securities, and LifeSci Capital are acting as joint bookrunning managers.