Shares of Amgen (NASDAQ: AMGN) recently ticked lower despite a very positive-sounding press release regarding its weight management candidate. According to the giant drugmaker, treatment with an anti-obesity candidate called MariTide helped patients reduce their weight by up to 20% after 52 weeks.

The pharmaceutical manufacturer Amgen announced on Tuesday that an experimental obesity drug helped patients lose up to 20 percent of their weight in a year. The drug, MariTide, is given by injection once a month, compared with once a week for other obesity drugs like Wegovy and Zepbound that are already on the market.

Amgen's experimental drug MariTide led to an average weight loss of up to 20% in a year-long mid-stage trial of nearly 600 people who were overweight or obese, the company said on Tuesday.