Amgen's IMDYLLTRA Approved in Europe for Lung Cancer, Showing 40% Mortality Reduction
AMGN sits 23% above its 52-week low of $267.83.
Summary
The European Commission has approved Amgen's IMDYLLTRA (tarlatamab) as a monotherapy for adults with extensive-stage small cell lung cancer (ES-SCLC) who have progressed after platinum-based chemotherapy. This follows the drug's approval in China in April. IMDYLLTRA is a first-in-class T-cell engager therapy, and its approval is based on Phase 3 data showing a 40% reduction in the risk of death and an extension of median overall survival by over five months compared to standard chemotherapy. This represents a significant new treatment option for a highly aggressive cancer with limited alternatives, expanding Amgen's market opportunity in Europe for a novel and effective therapy.
At the time of this announcement, AMGN was trading at $329.14 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $177.6B. The 52-week trading range was $267.83 to $391.29. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: PR Newswire.