Amgen's weight-loss drug appeared to leave investors disappointed, as shares in the company dropped nearly 5 percent after the results of a study into the drug, known as, MariTide, were released on Tuesday.
Amgen revealed the results of a trial into MariTide, which could compete with popular weight-loss drugs like Ozempic or Wegovy. According to a press statement from Amgen, MariTide showed a 20 percent average weight loss in 52 weeks among trial participants living with obesity or overweight, without a weight loss plateau. There were 592 people involved in the study.
MariTide also showed "robust and clinically meaningful improvements in cardiometabolic parameters" such as blood pressure, according to the press release. It did cause some side effects, such as nausea, vomiting and constipation.
While Amgen expressed optimism about the future of the MariTide, the trial didn't appear to impress investors, who dropped shares in the company. Shares in Amgen fell 4.76 percent on Tuesday, closing at $280.01.
Jay Bradner, M.D., executive vice president of Research and Development and chief scientific officer at Amgen, revealed the next steps for MariTide in the press release.
"We are very excited by MariTide's differentiated profile, with clinically meaningful attributes of substantial and progressive weight loss, monthly or less frequent dosing, significant improvements in cardiometabolic parameters and strong reduction of HbA1C," he said.
He continued, "These results provide us confidence to initiate MARITIME, a Phase 3 program across obesity and a number of related conditions, providing a unique potential new treatment option for patients."
It is still years away from being launched for the general public, reported Reuters.
When reached by Newsweek, a spokesperson for Amgen referred to the press release.
What is Amgen's obesity drug?
MariTide is a bispecific glucagon-like peptide 1 that works to activate GLP-1, a hormone that helps regulate blood sugar, digestion and appetite, and inhibits GIP receptors, according to Amgen.
"As a pioneering antibody-peptide conjugate molecule with a long half-life and dual mechanism of action, MariTide may allow for greater durability or reduce the likelihood of weight rebound after treatment stops," Amgen said of the drug.
How does Ozempic compare with Amgen's obesity drug?
MariTide is different from other drugs like Ozempic because it aims to reduce the number of injections required throughout the treatment. Ozempic requires weekly injections, while MariTide seeks to only require one injection per month.
Bradner said this would be a key innovation in the drug in an interview with Reuters, noting that he has "never met a patient who prefers more injections."
What drugs are Amgen known for?
Amgen is a biotech company known for producing several types of drugs. Amgen lists its top-selling product as Enbrel, which is used to fight inflammatory infections such as Rheumatoid Arthritis Treatment.
It is also known for Prolia and XGEVA, which can both be used to treat bone problems like osteoporosis in certain patients.
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