On a rather unremarkable November 14th, Austin’s Saturn V Capital Management lifted the curtain on a rather titillating acquisition: a $41.7 million quarter-over-quarter infusion into Amylyx Pharmaceuticals (AMLX 3.73%), now commanding a $62.6 million position. One might call it a calculated indiscretion.
A Stake of Considerable Magnitude
Per the SEC’s paperwork, Saturn V acquired 1.3 million additional shares during Q3, a move elevating Amylyx to 13.7% of its 13F reportable AUM. The stock, trading at $13.67 as of Monday, has pirouetted upward 166% year-over-year-a performance that makes the S&P 500’s modest 12% gains seem positively lackadaisical.
Portfolio Pornography, If You’ll Permit
For those keeping score at home, Saturn V’s current lineup reads like a biotech opera’s cast list: ABVX ($68M, 14.9% AUM), AMLX ($62.6M, 13.7% AUM), JAZZ ($39.6M, 8.7% AUM), DYN ($33.8M, 7.4% AUM), and COGT ($29.1M, 6.4% AUM). Amylyx, darling, is now the second-most glamorous diva on stage.
Amylyx: The Theatrics of Neurodegeneration
Let us pause for a moment to admire the spectacle. Amylyx Pharmaceuticals, a clinical-stage entity with a $1.5 billion market cap and a net loss of $149.3 million (TTM), devotes itself to the tragic romance of neurodegenerative diseases-ALS chief among them. Its lead candidate, AMX0035, waltzes through trials with the poise of a seasoned tragedienne.
| Metric | Value |
|---|---|
| Price (as of market close Monday) | $13.67 |
| Market Capitalization | $1.5 billion |
| Net Income (TTM) | ($149.3 million) |
The LUCIDITY Saga Continues
Beneath the financial melodrama lies a pipeline fueled by hope. The pivotal Phase 3 LUCIDITY trial for avexitide anticipates topline results by Q3 2024, while AMX0114’s Phase 1 LUMINA data suggests doses may escalate without catastrophe. Saturn V, ever the dramaturge, now counts Amylyx as its second-largest holding-a 13.7% bet that management’s recent “restructuring” wasn’t merely a costume change.
Cash, Catalysts, and a Touch of Hubris
The Foolish Take? Saturn V’s play is less about altruism than asymmetric risk-reward. With $344 million in cash and a runway stretching to 2028 (courtesy of a $191 million September equity raise), Amylyx has avoided the bankruptcy ballet for now. Yet one must wonder: is this a masterclass in patience or a Ponzi scheme draped in white coats? The upcoming data readouts shall tell.
Lexicon for the Uninitiated
For those unfamiliar with boardroom parlance: AUM refers to assets under management (i.e., other people’s money), 13F filings are SEC-mandated disclosures (read: gossip columns for funds), and a “clinical-stage company” is a polite term for an entity burning cash while praying for a miracle. Neurodegenerative diseases, lest we forget, are the villains in this tale-ruthless and undefeated thus far.
Investors, then, face a question as old as the markets themselves: Does Saturn V’s conviction signal brilliance or blindness? The balcony seats are priced at $13.67. 🎭
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2025-12-09 15:11