Amylyx Pharmaceuticals (AMLX) said Monday it has entered into a collaborative research initiative with Gubra for long-acting GLP-1 therapies.

The companies expect to select a lead candidate for investigational new drug-enabled development at the end of a screening period, Amylyx said in a US Securities and Exchange Commission filing.

Under the collaboration, Amylyx said it will make a "small" upfront payment and research payments to Gubra, while Gubra is entitled to receive milestone payments of over $50 million and "mid-single digit" royalties on worldwide net sales.

Amylyx said its payments are deemed immaterial to its financials, and that it continues to expect sufficient liquidity through 2026.

Shares of Amylyx were down 1.7% in recent trading.

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