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Amyotrophic Lateral Sclerosis: 6 biotech companies competing in the clinic

Neurology & PsychiatryGold rushData as of 2026-09-04

Competitors6in the clinic
Median market cap$3.4Buniverse median $1.20B
Allocated capital$8.7B$29.0B competing
Phase 3 or filed23 mid, 1 early
Pure plays1this indication only
Capital rank16/299crowding rank 23

Amyotrophic Lateral Sclerosis is both crowded and richly priced: 6 companies are in the clinic and the median one is worth $3.4B, against a universe median of $1.20B.

Crowded fields usually trade at a discount per company, so a premium in a field this deep says the market is pricing the size of the prize above the cost of the competition.

2 of the 6 are in Phase 3 or filed, and 6 dated catalysts fall in the next 12 months, so this ranking is likely to move.

$8.7B of allocated capital sits in Amyotrophic Lateral Sclerosis, 16th of 299 indications, and 1 of the 6 companies are pure plays that trade on this indication alone.

Companies developing drugs for Amyotrophic Lateral Sclerosis 6

TickerCompanyLead assetPhaseTrialsMarket capPure playIndicationsNext catalyst
IONSIonis PharmaceuticalsION363Phase 31$9.7BNo9 22 Sep 2026
AMLXAmylyx PharmaceuticalsAMX0035Phase 32$3.8BNo2 30 Sep 2026
CORTCorcept TherapeuticsDazucorilantPhase 21$12.2BNo3 31 Dec 2026
TLSATiziana Life SciencesForalumabPhase 21$117MNo3 31 Oct 2026
COYACoya TherapeuticsCOYA 302Phase 21$107MYes1 31 Dec 2026
QUREuniQureAMT-162Phase 11$3.1BNo2 30 Sep 2026

Sorted by phase, then by market capitalisation. Ticker links open the company profile. CORT holds 42% of the $29.0B competing in this indication.

Why Amyotrophic Lateral Sclerosis is a gold rush

Crowded and richly priced: six or more competitors, and the median one is worth more than the median small or mid cap biotech.

The map splits indications on two folds: six or more competitors counts as crowded, and a median company above $1.20B counts as richly priced. Amyotrophic Lateral Sclerosis has 6 competitors and a median of $3.4B.

Neurology & Psychiatry

Neurology & Psychiatry holds $120B of the map's capital, 17.9% of the total, spread across 46 indications and 58 companies. 19 of those indications have more than one company competing.

See every Neurology & Psychiatry indication on the map

Related indications in Neurology & Psychiatry

Bipolar Disorder5 companies · $8.7B · median $5.8BConcentrated betSchizophrenia8 companies · $9.2B · median $1.4BGold rushFocal Epilepsy6 companies · $8.0B · median $4.2BGold rushMultiple Sclerosis6 companies · $5.7B · median $1.3BGold rushMajor Depressive Disorder11 companies · $11.9B · median $1.8BGold rushDravet Syndrome3 companies · $4.2B · median $2.4BConcentrated betTreatment Resistant Depression3 companies · $3.8B · median $1.8BConcentrated betSpinal Muscular Atrophy Type III2 companies · $3.7B · median $4.6BConcentrated bet

Amyotrophic Lateral Sclerosis pipeline questions

Which biotech companies are developing drugs for Amyotrophic Lateral Sclerosis?

6 US-listed companies in the $100M to $20B market cap band run clinical programmes in Amyotrophic Lateral Sclerosis. The largest and most advanced are Ionis Pharmaceuticals (IONS, ION363, Phase 3); Amylyx Pharmaceuticals (AMLX, AMX0035, Phase 3); Corcept Therapeutics (CORT, Dazucorilant, Phase 2); Tiziana Life Sciences (TLSA, Foralumab, Phase 2); Coya Therapeutics (COYA, COYA 302, Phase 2). The full list of 6 is in the table on this page.

How advanced is the Amyotrophic Lateral Sclerosis pipeline?

Of the 6 clinical-stage programmes in Amyotrophic Lateral Sclerosis, 2 are in Phase 3 or filed, 3 are in mid-stage development and 1 is in early-stage development.

How much is the typical Amyotrophic Lateral Sclerosis biotech company worth?

The median company developing a drug for Amyotrophic Lateral Sclerosis is worth $3.4B, against a median of $1.20B across the whole universe. $8.7B of allocated capital sits in the indication, ranking it 16th of 299.

When is the next Amyotrophic Lateral Sclerosis catalyst?

The next dated catalyst in Amyotrophic Lateral Sclerosis is IONS on 22 Sep 2026. 6 dated events across the field fall in the next 12 months.

How this page is built

  • Universe is US-listed drug developers with a $100M to $20B market capitalisation, identified by SEC SIC code 2833, 2834 or 2836 or by a pharmaceutical or biotechnology industry classification, less a reviewed exclusion list of contract research organisations, device and diagnostics makers and diversified generics manufacturers.
  • An asset attributed to three or more different companies is treated as shared standard of care rather than any one company’s programme and excluded. Pembrolizumab alone appears under 21 tickers in raw trial data.
  • A programme counts only where at least one industry-sponsored trial supports it, so investigator-initiated academic studies of third-party drugs are excluded.

Allocated capital divides each company’s market capitalisation evenly across the indications it is running clinical programmes in, so every dollar of the universe is counted exactly once. Total market capitalisation competing counts a company in each of its indications and therefore sums to more than the universe.

Third-party market size estimates are not used anywhere on this page. Approved incumbents are excluded from competitor counts, and companies above $20B are outside the universe by construction.

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