Amgen (AMGN) Stock

Amgen's MariTide has demonstrated up to 20% weight loss in Phase II trials, with the possibility for further improvement after 52 weeks, as weight loss continues. While gastrointestinal side effects are a concern, Amgen intends to manage these by gradually increasing the dosage. The option for monthly or less frequent dosing gives MariTide a unique advantage, making it a strong contender as the first monthly treatment for type 2 diabetes.

Amgen's shares (AMGN -4.76%) fell recently, even though the company released a promising announcement about its weight management drug. They reported that patients using the anti-obesity treatment MariTide lost as much as 20% of their weight after a year.

Christopher Raymond from Piper Sandler appears on 'Fast Money' to discuss the drop in Amgen's stock following the results related to GLP-1.

On Tuesday, Amgen (AMGN) shares dropped significantly after the results of a trial for the company's new weight-loss drug were not as good as anticipated.

Amgen is heading towards its worst day since October 2000. This is our Chart of the Day.

Amgen Inc (NASDAQ:AMGN, ETR:AMG) saw its shares drop by 11.6% to their lowest point in a year after a trial for its weight-loss drug showed it could help overweight or obese individuals lose up to 20% of their weight in a year. The Phase II study revealed that MariTide allowed for an average weight loss of about 20% without reaching a plateau. The company stated that this is the first obesity treatment at this stage of clinical trials that can achieve such effective weight loss safely with monthly or less frequent dosing.

Amgen announced that its trial for a weight loss injection showed patients lost an average of 20% of their weight after a year, without reaching a plateau. However, these results seem to be below what Wall Street had hoped for.

Amgen announced on Tuesday that their experimental drug, MariTide, resulted in an average weight loss of up to 20% during a year-long mid-stage trial involving nearly 600 overweight or obese participants.

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