Amgen Soars on Positive Sjögren's Disease Trial Results
Amgen's stock surged 3.5% in morning trading after announcing positive results from its Phase 3 OASIZ 301 study of dazodalibep in adults with moderate-to-severe systemic Sjögren’s disease.
The trial met its primary endpoint, showing statistically significant and clinically meaningful improvement in systemic disease activity at Week 48. Notably, the drug delivered measurable benefits as early as Week 4, with improvements sustained through the full duration of the trial.
Dazodalibep is a potential first-in-class CD40L antagonist fusion protein designed to interrupt the immune cascade driving Sjögren’s by disrupting interactions between T cells, B cells, and antigen-presenting cells. Amgen also noted that a companion Phase 3 study, OASIZ 303, targeting patients with high symptom burden and lower systemic disease activity is expected to complete in the fourth quarter of this year.
On the analyst front, Citi reaffirmed a Hold rating with a $405 price target today, while Barclays maintained its Hold stance. A separate analyst kept a Buy rating, citing resilient fundamentals and late-stage pipeline upside.