Amgen Shares Up, Will Continue Phase 3 Heart Failure Trial

Date : 02/26/2020 @ 8:40PM
Source : Dow Jones News
Stock : Amgen Inc (AMGN)
Quote : 200.14  -2.59 (-1.28%) @ 3:47PM
Amgen share price Chart

Amgen Shares Up, Will Continue Phase 3 Heart Failure Trial

Amgen (NASDAQ:AMGN)
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By Michael Dabaie

 

Amgen Inc. shares rose 2% to $214.59 in afternoon trading.

Before the market open, Amgen, Cytokinetics Inc. and Servier said they would continue the GALACTIC-HF Phase 3 heart failure trial following a planned interim analysis. The companies said the Data Monitoring Committee recommended the Phase 3 clinical trial of omecamtiv mecarbil in patients with heart failure continue without changes.

Topline results are expected in the fourth quarter.

GALACTIC-HF completed enrollment of more than 8,200 patients in 35 countries who were either hospitalized at the time of enrollment for a primary reason of heart failure, or had a hospitalization or admission to an emergency room for heart failure within one year prior to screening.

Omecamtiv mecarbil is being developed by Amgen in collaboration with Cytokinetics, with funding and strategic support from Servier.

In 2006, Cytokinetics and Amgen entered into a strategic alliance for therapeutics for the potential treatment of heart failure.

Amgen holds an exclusive, world-wide license to omecamtiv mecarbil and related compounds, subject to Cytokinetics' specified development and commercialization rights. Cytokinetics is eligible for pre-commercialization and commercialization milestone payments and royalties.

Cytokinetics shares were down 5.6% to $13.89 in afternoon trading.

 

Write to Michael Dabaie at michael.dabaie@wsj.com

 

(END) Dow Jones Newswires

February 26, 2020 15:25 ET (20:25 GMT)

Copyright (c) 2020 Dow Jones & Company, Inc.

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