TradingKey –Â Amgen (NASDAQ: AMGN) jumped over $410 on Tuesday and is looking constructive in the short-term. The move upwards was caused by the release of positive topline data from the Phase III study of dazodalibep. Positive news for Amgen’s oncology pipeline also came in September from Phase 3 IMDELLTRA data and an FDA-approved monitoring-time update. Dazodalibep will provide upside in Amgen’s growth, but the company still needs new products to offset the shrinking growth of some of Amgen’s older drugs.
Dazodalibep Adds a Potential New Growth Driver
On September 22, AMGN announced that the Phase 3 trial of dazodalibep, OASIZ 301, demonstrated that the study drug met its primary endpoint for the treatment of patients with moderate to…
