BUZZ-Amgen up on Q4 profit beat, expectation of MariTide studies starting before mid-year

Updates

Shares of drugmaker Amgen AMGN.O gain 5.54% to $305.04, reversing premarket losses

Co on Tuesday reported Q4 profit of $5.31 per share, beating estimates of $5.08 - LSEG data

Said late-stage studies of key obesity drug candidate MariTide will start before mid-year

However, U.S. FDA has placed clinical hold on early-stage trial of experimental weight-loss drug AMG 513

*AMGN does not believe issue leading to the hold is drug-related

Obesity will continue to be key theme for Amgen shares as we enter 2025, brokerage BMO Capital Markets says

Up to last close, stock down ~10% in last 12 months