Amgen, Inc.

Truist analyst Srikripa Devarakonda downgrades Amgen stock to hold, citing competition in obesity drug market. She raises price target to $333, but sees limited upside. Amgen's MariTide faces rivals like Novo Nordisk and Eli Lilly. Phase 2 data expected in late 2024.

The global cancer gene therapy market is projected to grow from USD 1,822.2 million in 2024 to USD 3,142.2 million by 2034, driven by increased R&D funding, rising cancer prevalence, and favorable government regulations. Oncolytic virotherapy, a key segment, generated USD 850.7 million in 2023. The market is shifting towards personalized, targeted therapies, reducing side effects and improving outcomes.

The nanomedicine market was valued at USD 223.6 billion in 2023 and is projected to reach USD 634.2 billion by 2032, with a CAGR of 12.2%. This growth is driven by increased demand for advanced drug delivery systems and rising chronic disease incidence. North America leads the market, while Asia-Pacific is expected to grow the fastest.

Starboard Value's proxy fight with Pfizer intensifies as critics target CEO Dr. Albert Bourla, alleging stock underperformance and overpaying in acquisitions. However, Pfizer's stock performance aligns with peers, and recent acquisitions show promising returns. The debate centers on Pfizer's strategic direction, with critics favoring short-term gains over long-term growth.

The nanomedicine market, valued at USD 223.6 billion in 2023, is projected to reach USD 634.2 billion by 2032, driven by advanced drug delivery systems and rising chronic diseases. Key players include Johnson & Johnson, Mallinckrodt Pharmaceuticals, and Teva Pharmaceutical Industries. Recent developments include Novartis's nanoparticle-based ovarian cancer treatment and Merck's partnership with Stanford for immunotherapy research.

The Global Bispecific Antibody Drug Conjugates Clinical Trials, Regulatory Approvals & Future Market Opportunity Outlook 2029 report highlights the potential of BsADCs to transform cancer treatment. With over 60 drug conjugates in clinical trials, China leads with more than 35 candidates. Key companies like Amgen, Innovent Biologics, and AstraZeneca are pioneering BsADC development. The market is expected to grow significantly, driven by advancements in antibody engineering and rising R&D investments.

The FDA faces decisions on Amgen's Lumakras for colorectal cancer, Camurus' subcutaneous octreotide for acromegaly, Iterum's oral sulopenem for uUTI, and Lexicon's Zynquista for type 1 diabetes and CKD, with target action dates in October.

BioAge Labs, a biopharmaceutical company, recently completed its IPO, raising $238.3 million. Its weight loss candidate, azelaprag, aims to help patients lose weight while retaining muscle mass, differentiating it from existing GLP-1 agonists like Ozempic and Mounjaro. While BioAge Labs faces competition from companies like Abbott Laboratories and Altimmune, it remains a high-risk, high-reward opportunity due to its clinical-stage status and potential FDA approval delays.

Ivo Abraham discusses early biosimilar research challenges in the US, emphasizing the need for affordable drug strategies and volume contracts. He recalls initial skepticism and the shift towards equity in biosimilar development.

Upstream Bio raises $225M in IPO to develop verekitug, a monoclonal antibody targeting TSLP for severe asthma, with potential for less frequent dosing compared to Tezspire. CAMP4 Therapeutics secures $75M to advance RNA therapy for haploinsufficiencies, focusing on urea cycle disorders and SYNGAP1-related disorders. CeriBell raises $180.3M to commercialize AI-powered EEG tech for seizure detection.