Amgen's Trading Volume Surges 59% to $1.2 Billion, Ranks 52nd Despite Stock Decline
1min read On April 17, 2025, Amgen's trading volume reached $1.203 billion, marking a 59.03% increase from the previous day, ranking 52nd in the day's stock market trading volume.
Amgen's stock price has been under pressure recently, with a 1.89% decline on April 17, 2025, marking the second consecutive day of losses. The company's stock has fallen by 6.10% over the past two days.
Amgen's recent stock performance can be attributed to several factors. The company's decision to discontinue the development of its experimental drug, amg 594, due to disappointing clinical trial results has raised concerns among investors about the company's pipeline and future growth prospects. The discontinuation of AMG 594 is a significant setback for amgen, as the drug was seen as a potential blockbuster treatment for a rare genetic disorder.
In addition to the setback with AMG 594, Amgen is also facing increased competition in the biosimilars market. The company's biosimilar products, which are designed to compete with expensive biologic drugs, have been slow to gain market share. This has led to concerns about the company's ability to generate revenue from its biosimilar portfolio.
Despite these challenges, Amgen remains a leading player in the biotechnology industry, with a strong portfolio of approved drugs and a robust pipeline of experimental therapies. The company's recent acquisition of Five Prime Therapeutics, a biotechnology company focused on developing cancer treatments, is expected to strengthen Amgen's position in the oncology market. The acquisition is also expected to provide Amgen with access to new technologies and expertise that could be used to develop new therapies.
