On Tuesday, Amgen’s lead obesity candidate, MariTide, faced concerns about potential side effects after hidden data showing loss of bone mineral density in study participants was uncovered. An analyst at Cantor Fitzgerald found the data, which led to a $12 billion drop in market value for Amgen as the news spread. This incident highlighted the stock’s vulnerability ahead of a critical readout of the therapy. The hidden tabs with concerning results were attached to the publication of early trial results for MariTide. This discovery serves as a stark reminder of the risks associated with investing in pharmaceutical companies.
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A scrap of data on Amgen’s obesity drug MariTide wipes out $12B in market value
