On September 22, Amgen rose 3.39% in regular trading, trading at $405.63/share, with turnover of $198 million. The stock was buoyed by positive Phase 3 clinical trial data for its experimental drug Dazodalibep.

Amgen announced that Dazodalibep achieved statistically significant and clinically meaningful improvement in systemic disease activity in patients with moderate-to-severe systemic Sjogren Disease compared to placebo. The Phase 3 study, known as Oasiz 303, is expected to be completed in the fourth quarter. This breakthrough positions Dazodalibep as a potentially transformative therapy in the autoimmune disease space, where treatment options remain limited.

The positive readout adds to a wave of pipeline momentum for the biotech giant. Earlier this month, Amgen reported that its Phase 3 DeLLphi-305 study of Imdelltra combined with AstraZeneca's Imfinzi met its primary endpoint of overall survival in extensive-stage small cell lung cancer. The FDA also approved reduced monitoring time for Imdelltra's first two doses, cutting the observation window from 22-24 hours down to 6-8 hours, enhancing patient convenience.

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