Amgen said on Wednesday there was no link between its experimental weight-loss drug and changes in bone density, a day after those concerns wiped off more than $12 billion from the company's market value.

Analysts cited data from a phase one study showing the highest dose of Amgen’s MariTide was linked to roughly 4% loss of bone mineral density over 12 weeks.

(Reuters) - Amgen said on Wednesday it does not see any bone safety concerns around the use of its experimental obesity drug, a day after data from an early-stage study dragged its stock 7% lower. Copyright 2024 Thomson Reuters.

Amgen (NASDAQ:AMGN) shares spiked in the premarket on Wednesday after the company ruled out concerns over loss of bone mineral density linked to its obesity candidate MariTide, which led to a ~7% decline in its share price in the previous session.