The pharmaceutical company's MariTide treatment performed well in a Phase 2 study but not as well as Wall Street expected.

Amgen's experimental drug MariTide helped overweight or obese patients shed up to 20% of their body weight in a mid-stage trial, but the results failed to meet lofty investor expectations and shares of the biotech company tumbled about 12% 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.

Shares in Amgen fell by double digits Tuesday on results for the company’s MariTide shot, which is viewed as a potential rival to Wegovy and Zepbound.

An Amgen obesity drug helped participants lose a substantial amount of weight, but questions about how competitive it could be remain

Amgen's latest once-monthly weight loss drug data looks "OK," analysts say, as its path to approval still remains murky.

Amgen (AMGN) reported today the highly anticipated results of a mid-stage trial of its experimental weight loss drug and potential Ozempic competitor MariTide, however, Wall Street wasn’t very impressed.

Amgen (AMGN) stock slips as company posts mid-stage trial data for weight loss therapy MariTide. Rivals Eli Lilly (LLY) and Novo Nordisk (NVO) gain. Read more here.

Amgen (NASDAQ:AMGN) today announced positive data at 52 weeks in a double-blind, dose-ranging Phase 2 study with MariTide (maridebart cafraglutide, formerly AMG 133), an investigational antibody peptide conjugate subcutaneously administered monthly or less frequently.

Shares of Amgen (NASDAQ: AMGN) are down by 6% in the last 30 days as I write this -- a larger-than-normal amount for a large pharma company's stock to fall, especially considering that the market rose nearly 3% in the same period.