Amgen's MariTide Achieves 20% Weight Loss in Phase 2; Shares Drop 12%

Nov 26, 2024, 12:20 PM

Amgen Inc. announced that its experimental obesity drug, MariTide (maridebart cafraglutide), a GLP-1/GIPR agonist, demonstrated up to 20% average weight loss at 52 weeks in a Phase 2 study involving people with obesity or overweight. In patients with Type 2 diabetes, the drug achieved approximately 17% weight loss and lowered HbA1c levels by 2.2 points. The study showed no weight-loss plateau and reported a gastrointestinal dropout rate of less than 8%. Amgen scheduled a conference call at 8 am ET to discuss the data. Despite the promising results, Amgen's stock price fell by up to 12% in premarket trading, indicating that the data may have fallen short of market expectations.