06:56 AM EST, 11/13/2024 (MT Newswires) -- Amgen ( AMGN ) said Wednesday that it has found no connection between its potential once-monthly weight-loss injection MariTide and bone density loss.

"Amgen ( AMGN ) does not see an association between the administration of MariTide and bone mineral density changes," the company said.

The company said "[t]he phase 1 study results do not suggest any bone safety concern or change our conviction in the promise of MariTide," and that data from a phase 2 study will emerge later this year.

Some analysts voiced concern that an early-stage trial of the potential weight-loss drug, also called maridebart cafraglutide, suggested it caused bone-density losses as a side effect, several media outlets reported.

Shares of the company were up more than 3% in recent Wednesday premarket activity, following a 7.1% drop on Tuesday.

Price: 311.69, Change: +12.85, Percent Change: +4.30