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.

With Amgen’s MariTide results at the lower end of investors’ expectation of 20% to 25% weight loss, the much-anticipated readout sent the company’s shares tumbling.

Amgen's experimental weight loss injection, MariTide, showed up to 20% weight loss in patients without diabetes and 17% in those with diabetes after a year in a phase 2 trial. Despite higher discontinuation rates compared to other drugs,

On Nov. 12, a Wall Street analyst identified a previously unnoticed piece of data included in Amgen's phase 1 trial results for its anti-obesity candidate called MariTide that were published roughly nine months ago. The data was in a "hidden" Excel tab ...

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