Amgen's Imdelltra Soars with 115% Sales Growth Amid Promising Lung Cancer Trial Results

Amgen's cancer treatment Imdelltra has seen significant sales growth, surging 115% to $288 million in the second quarter. This marks a doubling of year-over-year revenue for the drug.

The increase is largely due to the success of the Imdelltra-Imfinzi combination in a late-stage lung-cancer trial involving 563 patients. The study showed that the combination extended overall survival and progression-free survival, while also producing better response rates than Imfinzi alone as maintenance therapy for extensive-stage small-cell lung cancer.

While investors may be cautious about assigning too large of a commercial opportunity to Imdelltra until more data is available, the results are promising. Amgen's shares currently sit 7.05% above their $365.84 GF Value estimate, and the size of the survival benefit could determine whether this premium proves justified.