Amgen (AMGN, Financial) has revealed promising outcomes from its global Phase 3 DeLLphi-304 clinical trial, assessing Imdelltra for treating small cell lung cancer. The trial focused on patients whose cancer had advanced following an initial treatment with platinum-based chemotherapy.
The interim analysis showed that Imdelltra significantly improved overall survival rates when compared to the existing standard-of-care chemotherapy options, achieving its primary goal. This marks a notable advancement for addressing a highly aggressive form of cancer that currently lacks sufficient effective treatments.
Amgen's Executive Vice President of Research and Development, Jay Bradner, highlighted the importance of these findings, suggesting that Imdelltra could potentially become a standard treatment option for small cell lung cancer patients. He also expressed the company's eagerness to share these compelling results with the scientific community and regulatory bodies as they work towards making the drug widely available.
The safety profile of Imdelltra in the trial aligned with previous expectations, indicating no new safety concerns. More detailed findings from the DeLLphi-304 study are set to be disclosed at an upcoming medical conference, which will further elucidate the drug’s potential impact on patient care.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 25 analysts, the average target price for Amgen Inc (AMGN, Financial) is $322.11 with a high estimate of $408.00 and a low estimate of $185.00. The average target implies an upside of 14.46% from the current price of $281.41. More detailed estimate data can be found on the Amgen Inc (AMGN) Forecast page.
Based on the consensus recommendation from 33 brokerage firms, Amgen Inc's (AMGN, Financial) average brokerage recommendation is currently 2.5, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for Amgen Inc (AMGN, Financial) in one year is $347.47, suggesting a upside of 23.47% from the current price of $281.41. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the Amgen Inc (AMGN) Summary page.
