Amgen, Inc. (NASDAQ: AMGN) is up modestly this morning, and for good reason. The company announced positive data from a key clinical trial that was published in the New England Journal of Medicine. As is normally, the case, our partners at Trade Ideas were the first to send the alert. At the moment (6:51), AMGN is trading at $172.00 per share after a gain of $0.61 per share or 0.36% thus far today.
AMGN Gains On Published Clinical Results
As mentioned above, Amgen is experiencing modest gains in the market this morning after announcing that the New England Journal of Medicine has published results from the company’s Repatha® cognitive function trial. The trial was conducted in a subset of patients enrolled in the randomized, placebo-controlled Repatha cardiovascular outcomes study, known as FOURIER. The study showed that Repatha was non-inferior to the placebo. In a statement, Robert P. Guigliano, M.D., S.M., lead study investigator on the AMGN trial, had the following to offer…
“In the first prospectively designed study of cognitive function with a PCSK9 inhibitor using validated instruments, we showed that there were no significant differences between patients taking evolocumab and those on placebo… These findings are reassuring for both physicians and patients because they show that LDL cholesterol levels can be lowered with evolocumab to levels well below current treatment targets, with no negative effects on memory or other cognitive domains.”
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will be keeping a close eye on AMGN. In particular, we’re interested in following the ongoing work surrounding Repatha, and excited with each bit of clinical data released surrounding the drug. Nonetheless, we’ll continue to follow the company closely and bring the news to you as it breaks!
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