Amgen (AMGN) has made significant strides in developing MariTide, a year-long injectable weight-loss drug. Despite achieving up to 20% weight loss in a Phase 2 study, the results were met with lukewarm reception, leading to an approximately 12.3% fall in stock value during one trading session. Wall Street remained unimpressed due to some perceived underwhelming data and concerns over frequency of dosage. Meanwhile, Amgen continues to pose strong competition to rivals like Eli Lilly and Viking Therapeutics. Addtionally, Icon Wealth Advisors LLC and other investment entities have reduced their AMGN shares. Attention is increasing towards Amgen's investment worthiness in light of robust return on equity (56%) and substantial financial results in the 3rd and 4th quarters of 2024. Regulatory news includes the successful testing of another pipeline drug, Uplizna, used in treating generalized myasthenia gravis (GMG). This is alongside their partnership with AstraZeneca on a new asthma drug. Investor attration grows despite the stock price decline.
Amgen AMGN News Analytics from Thu, 05 Sep 2024 07:00:00 GMT to Sat, 30 Nov 2024 11:46:45 GMT -
Rating 6
- Innovation 7
- Information 8
- Rumor -2
