Amgen Inc AMGN shares are trading lower by 5.7% to $272.88 Monday afternoon after the company released full results from part one of its phase two study of MariTide, its investigational obesity treatment.
What To Know: The therapy, a long-acting, peptide-antibody conjugate administered monthly or less frequently, showed promising weight loss benefits but failed to boost investor confidence.
In the phase two trial, MariTide showed up to 20% average weight loss in people with obesity without Type 2 diabetes and up to 17% in those with the condition, significantly outperforming placebo.
Additionally, MariTide delivered notable reductions in hemoglobin A1c (up to 2.2%) and improvements in several cardiometabolic measures. Importantly, weight loss did not plateau by 52 weeks.
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Safety data showed gastrointestinal side effects, mostly mild to moderate, with improved tolerability during dose escalation. The findings also included data from the phase one PK-LDI study, which assessed dosing strategies and showed low discontinuation rates.
Despite the strong clinical results, the market reaction was negative, possibly due to concerns about competitive pressures in the GLP-1 space or the long road ahead for phase three trials.
Amgen launched its MARITIME Phase 3 program and plans additional studies targeting cardiovascular disease, heart failure and sleep apnea. An investor webcast is scheduled Monday evening.
According to data from Benzinga Pro, AMGN has a 52-week high of $346.85 and a 52-week low of $253.30.
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Besides going to a brokerage platform to purchase a share — or fractional share — of stock, you can also gain access to shares either by buying an exchange traded fund (ETF) that holds the stock itself, or by allocating yourself to a strategy in your 401(k) that would seek to acquire shares in a mutual fund or other instrument.
For example, Amgen is in the Health Care sector. An ETF will likely hold shares in many liquid and large companies that help track that sector, allowing an investor to gain exposure to the trends within that segment.
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Image: Courtesy of Amgen