Amgen Stock Soars on Positive Dazodalibep Trial Results
Amgen stock has seen significant gains after the company announced positive Phase 3 trial results for its drug dazodalibep. The study, called OASIZ 301, tested the effectiveness of dazodalibep in adults with moderate-to-severe systemic Sjögren's disease.
The trial met its main goal, showing a clear and meaningful drop in disease activity at Week 48, with benefits appearing as early as Week 4. This is a significant breakthrough because there are currently no FDA-approved disease-modifying treatments for Sjögren's.
Amgen has designed dazodalibep to block the signal CD40L that immune cells use to communicate and drive the disease, avoiding platelet-related side effects seen with earlier drugs. A second Phase 3 study, OASIZ 303, is expected to finish in Q4, focusing on patients with heavy symptoms but lower systemic disease activity.
The positive trial results have added to Amgen's solid business momentum, with the company raising its full-year revenue and earnings guidance after Q2 results topped $10 billion, up 10% from last year. However, analysts remain cautious, with Citi keeping a Hold rating and price target of $405.