California bio-pharmaceutical company Amgen (AMGN) will likely need to make more improvements to its ovarian cancer drug, AMG-386, in order to gain FDA approval.
RBC analyst Michael Yee stated earlier today that the drug Amgen has been working on to treat ovarian cancer will need to show strong increases in overall survival benefits in order to gain approval from the FDA. Trial data for the drug may not be out to the FDA until next year, but approval would mean strong returns for Amgen.
Amgen shares were down all Wednesday afternoon, slipping 1.61% since the morning. The stock is up 10% YTD.
The Bottom Line
Shares of Amgen (AMGN) have a 1.95% yield, based on Wednesday afternoon’s closing price of $96.37.
Amgen (AMGN) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.
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