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Amgen Stock Plummets on Strong Selling Pressure Amid Clinical Trial Success

Guavy AI Editorial Team
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AMGN
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Amgen's stock price fell by 9.19% to $397.01 on Tuesday, following strong selling pressure in the market.

The decline is attributed to a bearish bias and technical signals indicating continued short-term selling momentum.

Despite this, Amgen reported a notable late-stage development for its clinical pipeline, with the Phase 3 DeLLphi-305 trial for IMDELLTRA in small cell lung cancer achieving a statistically significant overall survival benefit.

The success of this trial adds to Amgen's clinical pipeline and could strengthen future revenue streams, but arrives against a backdrop of broad uncertainty following peer industry developments.

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