Amgen, Inc. (NASDAQ:AMGN) shares rallied over 14% in Thursday’s after-hours trading after the biopharma reported a double beat and offered an update on its obesity drug pipeline. What Happened: Amgen said on the call that it was pulling the plug on AMG 786, an oral Phase 1 candidate for obesity. “We will not pursue further development. Instead, in obesity, we’re differentially investing in MariTide and a number of preclinical assets,” said Amgen’s EVP and Chief Scientific Officer Jay Bradner. The rationale offered was prioritization. “Across the portfolio, we are presently prioritizing differe…
