BRIEF—Amgen dismisses obesity drug safety concern; investors unsure

US biotech major Amgen closed 7% lower on Tuesday after investors questioned whether reductions in bone mineral density might be linked to the use of its investigational obesity candidate MariTide (maridebart cafraglutide, formerly AMG 133) in a Phase I trial.

Releasing a statement on Wednesday, Amgen sought to clear up the uncertainty.

“As previously stated, Amgen does not see an association between the administration of MariTide and bone mineral density changes,” the statement reads. 

“The Phase I 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 II topline data later this year."