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Key TakeawaysA Phase 2 study of Amgen's experimental weight-loss treatment didn't meet expectations of analysts.Concerns were also raised about the drug's side effects and the number of patients who dropped out of the trial.The news sent shares of Amgen sinking. Amgen (AMGN) shares tanked Tuesday after results from a test of the biotech's experimental weight-loss drug came in below expectations. The company reported a Phase 2 study of its injectable MariTide medicine showed an approximately 20% average wei ...

About this content About Oliver Haill Oliver has been writing about companies and markets since the early 2000s, cutting his teeth as a financial journalist at Growth Company Investor with a focusing on AIM companies and small caps, before a few years later becoming a section editor and then head of research. He joined Proactive after a couple of years freelancing, where he worked for the Financial Times Group, ITV, Press Association, Reuters sports desk, the London Olympic News Service, Rugby World Cup ...

Core Insights - Amgen Inc's stock fell during premarket trading after the release of Phase 2 study data for MariTide, showing an average weight loss of approximately 20% at one year without a plateau, indicating potential for further weight loss beyond 52 weeks [1][2] Group 1: Study Results - The Phase 2 trial results did not meet Wall Street's high expectations, with analysts anticipating at least 20% weight loss, and some expecting up to 25% [2] - A subset of patients typically losing less weight on GLP-1 therapies achieved around 17% average weight loss and a reduction in hemoglobin A1C by up to 2.2 percentage points at week 52 [2] - Improvements in cardiometabolic parameters were observed, including reductions in blood pressure, triglycerides, and hs-CRP, with no significant increases in free fatty acids [3] Group 2: Safety and Side Effects - There was no association found between MariTide administration and changes in bone mineral density [4] - The most common side effects were gastrointestinal, including vomiting, nausea, and constipation, with an overall discontinuation rate of approximately 11% due to any adverse events, and less than 8% for GI-related events [4] Group 3: Ongoing Research and Development - A separate ongoing Phase 1 pharmacokinetic study is evaluating additional dosing regimens, while Part 2 of the Phase 2 study is investigating weight loss beyond 52 weeks and weight maintenance strategies [5] - MariTide is expected to be delivered via a handheld autoinjector device with monthly or less frequent administration, and Amgen is advancing its obesity pipeline with both oral and injectable options [6] Group 4: Market Reaction - Following the announcement, Amgen's stock price decreased by 11.6%, trading at $259.88 during the premarket session [7]

The Amgen logo is displayed outside Amgen headquarters in Thousand Oaks, California, on May 17, 2023.Amgen on Tuesday said its experimental weight loss injection helped patients with obesity lose up to 20% of their weight on average after a year in a critical mid-stage trial, as the company races to join the booming obesity drug market. The drug, MariTide, also helped patients with obesity and Type 2 diabetes lose up to 17% of their weight after a year. The company said it did not observe a plateau in eithe ...

Taking full advantage of the stock market and investing with confidence are common goals for new and old investors, and Zacks Premium offers many different ways to do both.Featuring daily updates of the Zacks Rank and Zacks Industry Rank, full access to the Zacks #1 Rank List, Equity Research reports, and Premium stock screens, the research service can help you become a smarter, more self-assured investor.It also includes access to the Zacks Style Scores. What are the Zacks Style Scores? The Zacks Style Sco ...

The world of pharmacenutical stocks has a lot to offer investors. With their resilience in the face of economic issues and frequently in the face of market fluctuations as well, pharma stocks can serve as an anchor for your portfolio.But it's a tricky category to invest in if you aren't sure what to look for, or how to judge whether a given stock is worthy of your money. Let's learn about three things that you should check on before taking the plunge with any pharma investment.1. Capital allocation plansPha ...

Howard Chang, M.D., Ph.D., Joins as Senior Vice President of Research and Chief Scientific OfficerTHOUSAND OAKS, Calif., Nov. 20, 2024 /PRNewswire/ -- Amgen (NASDAQ:AMGN) today announced that Howard Chang, M.D., Ph.D., will join the company as senior vice president of Research, effective Dec. 16, 2024. Chang will also assume the title and responsibility of serving as Amgen's chief scientific officer, reporting to Jay Bradner, M.D., executive vice president of Research and Development."Howard is one of our g ...

Brendan, a Pennsylvanian by birth:-Completed a Ph.D. at Stanford University in the field of organic synthesis (2009). -Worked for a major pharmaceutical company (Merck, 2009-2013).-Worked in biotech including start-ups (Theravance/Aspira) prior to securing employment at Caltech.-First employee and co-founder of 1200 Pharma as it spun out of Caltech garnering major investment (into the 8 figures).-Remains an avid investor, focused on market trends and especially biotechnology stocks.Analyst’s Disclosure: I/w ...

Its future is bright, but that doesn't mean it'll always be smooth sailing.While Amgen's (AMGN -4.16%) shares have underperformed the market over the past 12 months, climbing 19.7% compared to the market's unusually large gain of 35.6%, there's no shortage of reasons to buy its stock. Still, there is a risk that could rain on the biotech's parade a bit over the next couple of years.Let's examine two reasons why the stock is worth buying, and one reason why it makes sense to be just a little bit cautious wit ...