Amgen announces Phase 3 DLL3-therapy study met primary endpoint as stock falls 7.5%

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Mykhailo Ihnatenko

08.09.2026

Amgen announces Phase 3 DLL3-therapy study met primary endpoint as stock falls 7.5% — Amgen stock falls 7.5% to $404.01

Amgen announced on August 21, 2026, that a Phase 3 trial evaluating its DLL3-targeting therapy as part of first-line maintenance for extensive-stage small cell lung cancer met its primary endpoint. Shares are down 7.5% on the day at $404.01.

AMGN price prediction

24H -0.52%

$410.77

48H -0.66%

$410.16

7D -1%

$408.79

1M 6.34%

$439.07

3M 20.26%

$496.54

6M 37.44%

$567.47

12M 56.09%

$644.49

Current price: $412.9 -4.6750 1.12%

Closed 10/13

Daily range 411.17

418.44

Weekly range 400.34

417.78

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Highlights

Amgen announced its Phase 3 trial of IMDELLTRA with IMFINZI for extensive-stage small cell lung cancer met its primary survival endpoint.
Shares are down 7.5% on the day at $404.01.
Of 137 analysts covering the stock, 56 rate Amgen a buy and 13 recommend selling.

Amgen announced August 21, 2026, that a Phase 3 study evaluating its DLL3-targeting therapy IMDELLTRA in combination with IMFINZI as first-line maintenance for extensive-stage small cell lung cancer met its primary endpoint. The main study result was a landmark improvement in overall survival, according to PR Newswire. The combination of PD-L1 checkpoint inhibition with DLL3-directed T-cell engagement provided two distinct immunotherapy approaches in the DeLLphi-305 Phase 3 trial, according to Oncodaily.

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Split structure as price slips below MA-20 after trial results

Price lost the MA-20 at $431.41 during the session after closing above it. The daily chart now shows a split structure, with shares holding above the MA-50 and MA-200 but sitting below the MA-20. The nearest support is at the MA-50, which is $397.04. RSI at 61.9 is nearing overbought territory, which is an early sign the advance is getting stretched.

Upside odds lead as traders watch for a close above $411.5

To see if the recent developments are being priced in, traders should watch for a close above $411.5 to indicate follow-through from buyers. During the latest session, price moved below the MA-20 at $431.41 after previously closing above that level. Although the past week was marked by a sustained move lower with a firm trend, from here the 5-day upside probability stands at 70%, while downside risk is 30%, with the expected trading range at $399.83 to $408.18. A drop below $397.04 would show the move is being faded. On the weekly chart, the longer-term picture stays firmly constructive.

Earlier, analysts noted that Amgen maintained a bullish technical outlook supported by strong fundamentals and positive momentum signals. With shares now trading beneath the MA-20 despite a major clinical milestone, traders should monitor whether price can reclaim $411.5 as confirmation of renewed buying interest.

This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.

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