Shares of Amgen fell more than 7% Tuesday as analysts chewed over bone density loss data from an early-stage trial on its experimental weight loss injection, MariTide.
Amgen did not immediately respond to a request for comment on the dataThe drug is a promising potential competitor in the weight loss drug market.
"On one hand, patients could naturally lose bone mineral density during weight loss treatment," Brayer wrote.
But Brayer said, "on the other hand, this could be a non-starter because there seems to be a dose-dependent increase" in bone mineral density loss.
Amgen is also aware of the "hypothetical concern" of bone mineral density loss, Yee said, citing the firm's discussions with management.
Persons:
Amgen, Eli Lilly, Cantor Fitzgerald, Olivia Brayer, Eli, Wegovy, Brayer, Jefferies, Michael Yee, Yee, Evan Seigerman, hasn't, Seigerman
Organizations:
Novo Nordisk, BMO