Amgen's experimental drug MariTide led to an average weight loss of up to 20% in a year-long mid-stage trial of nearly 600 people who were overweight or obese, the company said on Tuesday.

The pharmaceutical manufacturer Amgen announced on Tuesday that an experimental obesity drug helped patients lose up to 20 percent of their weight in a year. The drug, MariTide, is given by injection once a month, compared with once a week for other obesity drugs like Wegovy and Zepbound that are already on the market.

Amgen stock was dropping in premarket trading after releasing data from a Phase 2 study for its experimental weight-loss drug, MariTide. The pharmaceutical company said in a statement that after 52 weeks,

Amgen Inc.’s stock AMGN tumbled 7.8% in early trade Tuesday, after the company said a mid-stage trial of its weight-loss treatment MariTide showed up to 20% average weight loss

The company reported a Phase 2 study of its injectable MariTide medicine showed an approximately 20% average weight loss over one year for patients who were obese or overweight without diabetes. In addition, Amgen noted the results were without a plateau, suggesting that even more pounds could be lost with additional use.

Amgen stock crashed Tuesday after its weight-loss drug met Wall Street's expectations, but was only on par with Eli Lilly's Zepbound.

Analysts were expecting the treatment to achieve an average weight loss of about 20% to 25% after one year of treatment, making it competitive with Eli Lilly & Co. Inc.’s Zepbound.

Amgen reported 20% weight loss in its MariTide Phase II study results, but a 10% drop in share price suggests investors had hoped for more.

A highly anticipated obesity-drug candidate from biotech Amgen helped patients shed a significant amount of weight in a midstage study, but fell short of the loftier expectations of some investors. Subjects taking Amgen’s MariTide lost 20% of their body weight compared with those who received placebos,

Amgen stock was dropping in premarket trading after releasing what looked like positive data from a Phase 2 study for its experimental weight-loss drug, MariTide. The pharmaceutical company said in a statement that after 52 weeks,

Amgen's experimental drug MariTide helped overweight or obese patients lose up to 20% weight on average in a year-long mid-stage trial, data that missed lofty investor expectations and sent the shares down 8% before the bell on Tuesday.