On October 7, Amgen rose 3.13% in regular trading, trading at $415.44 per share, with turnover of $152 million. The move was driven by a positive late-stage trial readout for its CD40L-targeted drug Dazodalibep.

Amgen announced that the Phase 3 OASIZ 303 study of Dazodalibep met its primary endpoint in adults with Sjogren's disease, showing statistically significant and clinically meaningful improvement in systemic disease activity at week 48. The effect was observed as early as week 4 and sustained through week 48. Common adverse events were mild to moderate, including nasopharyngitis and urinary tract infection.

This marks the first new mechanism of action in Sjogren's disease in three decades. The result was reinforced by separate data showing Repatha reduced cardiovascular death risk by 20% in high-risk patients. The combined readouts strengthen Amgen's multi-pipeline valuation case.

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