Amgen (AMGN) stock spiked after the company ruled out out bone density concerns linked to obesity drug MariTide, following a recent share price decline. Read more here.

Amgen said on Wednesday there was no link between its experimental weight-loss drug and changes in bone density, a day after those concerns wiped off more than $12 billion from the company's market value.

Key Takeaways Amgen refutes in a press release that its trial obesity drug, MariTide, may cause bone loss density. Amgen's stock has risen 4.6% this year against a decrease of 3.8% for the pharmaceuticals industry.

Amgen (NASDAQ:AMGN) shares fell in the evening hours on Tuesday after Cantor Fitzgerald argued that a potential loss of bone mineral density could be a safety risk linked to its obesity candidate MariTide (AMG-133).