Amgen Inc. (AMGN) Wednesday said there is no association between administration of experimental weight loss drug MariTide and changes in bone mineral density.
Following the news, Amgen shares were gaining around 2 percent in the pre-market activity on the Nasdaq.
The shares had lost around 7.1 percent on Tuesday's regular trading after analysts at Cantor Fitzgerald reportedly said their review of early-stage data on MariTide showed the drug had led to bone mineral density changes.
In a statement on the MariTide (maridebart cafraglutide, formerly AMG 133) Phase 1 data, Amgen now said, "As previously stated, Amgen does not see an association between the administration of MariTide and bone mineral density changes. The Phase 1 study results do not suggest any bone safety concern or change our conviction in the promise of MariTide. We look forward to sharing the Phase 2 topline data later this year."
On the Nasdaq, Amgen closed Tuesday's regular trading at $298.84, down 7.14 percent.
In pre-market activity, the shares were at $304.20, up 1.79 percent.
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