Amgen Inc Stock Price, News & Analysis

Amgen (NASDAQ:AMGN) has announced the termination of its collaboration with Cytokinetics and plans to transfer development and commercialization rights for cardiac treatments omecamtiv mecarbil and AMG 594. The recent GALACTIC-HF trial results showed a significant reduction in the risk of cardiovascular death or heart failure events but failed to meet secondary endpoints. Despite disappointing results, Amgen remains committed to cardiovascular innovation, including ongoing development of their Lp(a) inhibitor, olpasiran (AMG 890), currently in Phase 2 trials.

Amgen (NASDAQ:AMGN) will present at the Jefferies Virtual London Healthcare Conference on November 18, 2020, at 12:00 p.m. ET. The presentation will be led by Peter H. Griffith, executive vice president and CFO of Amgen. Interested parties can access the live audio through the Events Calendar on Amgen's website, with a replay available for at least 90 days post-event. As a leader in biotechnology, Amgen is dedicated to discovering innovative therapies for serious illnesses, leveraging advanced human genetics to enhance health outcomes.

Amgen will present at the Cowen 4th Annual Virtual IO Summit on November 13, 2020, at 3:30 p.m. ET. David M. Reese, M.D., executive vice president of Research and Development, will lead the presentation. Live audio will stream from Amgen's website, with a replay available for 90 days post-event. Amgen, a leader in biotechnology since 1980, focuses on innovative human therapeutics to address serious illnesses and unmet medical needs. The company is dedicated to improving health outcomes globally.

Amgen and AstraZeneca have announced positive results from the Phase 3 NAVIGATOR trial for tezepelumab, which showed a statistically significant reduction in asthma exacerbations compared to placebo over 52 weeks. The trial met its primary endpoint, demonstrating efficacy across varying eosinophil counts. Tezepelumab's well-tolerated profile and the Breakthrough Therapy Designation from the FDA underscore its potential as a first-in-class asthma treatment. Both companies will share costs and profits in the collaboration to commercialize this promising drug.

Amgen (NASDAQ:AMGN) announced the presentation of important data from its cardiovascular portfolio at the American Heart Association Scientific Sessions 2020, scheduled for Nov. 13-17, 2020. Key highlights include new evidence supporting Repatha (evolocumab) for lowering cardiovascular events, the GOULD registry's findings on cholesterol treatment patterns, and initial data for olpasiran, an innovative siRNA targeting lipoprotein(a). Results from the GALACTIC-HF trial, which met its primary endpoint but missed its secondary one, will also be showcased, emphasizing Amgen's commitment to improving cardiovascular health.

Amgen (NASDAQ: AMGN) announced the first presentation of AMG 757 Phase 1 clinical data for relapsed or refractory small cell lung cancer (SCLC). The investigational bispecific T cell engager targets the DLL3 protein, overexpressed in SCLC. The interim analysis involved 40 patients, with 16% showing confirmed partial response and 29% with stable disease. Despite a 43% incidence of cytokine release syndrome (CRS), events were manageable. Results will be presented on Nov. 12 at the SITC 35th Annual Meeting, highlighting potential advancements in treating this aggressive cancer.

Amgen (NASDAQ:AMGN) will present at the 29th Annual Credit Suisse Virtual Healthcare Conference on Nov. 9, 2020, at 4:15 p.m. ET in Scottsdale, Ariz. Key executives, Murdo Gordon and Peter H. Griffith, will be representing the company. Investors can listen to the live audio on Amgen's website, with a replay available for 90 days. Founded in 1980, Amgen focuses on addressing unmet medical needs through innovative therapies and advanced human genetics. For more details, visit www.amgen.com.

Amgen reported Q3 2020 financial results with total revenues of $6.4 billion, up 12% year-over-year, driven by significant volume growth despite challenges due to COVID-19. Product sales also rose 12%, with notable increases in Otezla® and Repatha®. GAAP EPS increased 5% to $3.43, while non-GAAP EPS saw a 19% rise to $4.37. Free cash flow remained stable at $3.2 billion. Amgen narrowed its total revenue guidance for 2020 to $25.1-$25.5 billion and revised EPS guidance upwards.

Amgen (NASDAQ:AMGN) will release its third quarter financial results on October 28, 2020, after U.S. market close. Following this, a conference call will occur at 2:00 p.m. PT, featuring CEO Robert A. Bradway and senior management. The call will be accessible via live audio on Amgen's website, where it will also be archived for 90 days. Amgen continues to focus on innovative therapeutics, addressing high unmet medical needs, and has built a strong pipeline since its inception in 1980.