A scrap of data on Amgen’s obesity drug MariTide wipes out $12B in market value

On Tuesday, a tiny shred of knowledge on Amgen’s lead weight problems candidate — not but verified — erased $12 billion in market worth.

The information, noticed by an analyst at Cantor Fitzgerald, targeted on issues about potential unwanted effects with the drug, referred to as MariTide. As soon as they had been shared broadly in an investor observe, the corporate’s shares fell 7%, a reminder that its inventory is in a extremely precarious place forward of a important readout of the remedy.

Analyst Olivia Brayer discovered the info, which had been beforehand unreported, in hidden tabs of a file connected to the publication of early trial outcomes for MariTide. The hidden tabs contained what seemed to be outcomes exhibiting research individuals experiencing lack of bone mineral density, particularly amongst these within the group taking the very best doses of the drug, Brayer mentioned.