- Bi/Multispecific Drugs in Oncology Analytical Tool Featuring Top Developers - Amgen, Hoffmann-La Roche, J&J, Xencor, Biocytogen - Unlocking New Precision, Immune Activation, and Therapeutic Potential
May 12, 2026
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Bi/multispecific drugs in oncology present key opportunities: precision targeting, innovative immune modulation, and personalized therapies. With rapid pipeline growth, breakthrough approvals, and rising investment, it’s vital to utilize analytical tools for strategic decisions and capitalize on evolving market dynamics.
Dublin, May 12, 2026 (GLOBE NEWSWIRE) -- The "Unlocking Opportunity: Dominate the Bi/Multispecific Drug in the Oncology Market with Confidence" directory has been added to ResearchAndMarkets.com's offering.
The world of bi- and multispecific drugs is transforming cancer treatment, unlocking new levels of precision, immune activation, and therapeutic potential. However, with rapid advancements, fierce competition, and an ever-expanding pipeline, staying ahead requires more than just insights - it demands up-to-date intelligence, strategic foresight, and data-driven decision-making.
In 2024/25 alone, the oncology pipeline saw a surge of innovation, with 278 new bi/multispecific drugs, over 800 drugs with events, and 8,566 total events spanning 2,120 total drug programs - a clear signal of the accelerating pace and complexity in this space.
Introducing the Bi/Multispecific Drugs in Oncology Analytical Tool - your comprehensive solution to navigate this dynamic field, track emerging trends, and capitalize on groundbreaking opportunities.
The Ultimate Tool for Exploring What Makes This Field So Exciting
Dual & Multi-Targeting for Unmatched Precision: Overcome tumor heterogeneity and resistance like never before. Next-Gen Drug Engineering: Innovations in protein engineering, immune modulation, and checkpoint targeting are reshaping oncology. The Future of Personalized Medicine: Bi/multispecific drugs are leading the shift towards tailored, precision-based cancer therapies. Unprecedented Market Growth: With a rapidly expanding pipeline, now is the time to invest in transformative oncology solutions.
The impact? A rapidly growing clinical pipeline, breakthrough FDA approvals, and a surge in investment opportunities - making the bi/multispecific field one of the most exciting frontiers in oncology today.
6 Game-Changing Benefits for You
With the Bi/Multispecific Drugs in Oncology Analytical Tool, you will:
Track the Competitive Landscape - monitor active organizations, new drugs, targets, and technologies Accelerate Licensing & Partnerships - access top biotech developers, BD&L contacts, and academic projects Power High-Impact Reports & Presentations - fuel data-driven decisions with near real-time market intelligence - all exportable in ready-made graphs and tables. Engage Key Opinion Leaders (KOLs) - connect with clinical and scientific experts shaping the field Find the Right Investors - tap into a network of oncology-focused funding partners Stay Ahead of Industry Events - analyze data from top global oncology conferences (AACR, ASCO, ESMO, ASH, and more)
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Your Bi/Multispecifics in Oncology Analytical Tool is never out of date thanks to continuous updates and monthly email alerts highlighting the latest developments in the field.
You will have thousands of drugs, targets, companies, clinical trials, deals, and much more at your fingertips. See below for a breakdown of near-real-time coverage.
Support & Inspiration at Your Fingertips
Leverage expertise as your virtual business development team - ready when you are. The 24/7 support ensures help is always available, while rich library of How-to Training Videos empowers you with proven best practices.
From competitive pipeline analysis to real-world case studies submitted by fellow users, you'll find actionable insights designed to elevate your work.
A Tool That Grows With You
Unlike static reports that offer just a snapshot in time, the Analytical Tools provide a full year of online access - complete with nearreal-timee updates, new features, pipeline alerts, and dedicated support. When you're ready to go further, you can seamlessly renew your access or upgrade to the industry-leading full-service platform: 1stOncology - your comprehensive partner in oncology drug development.
Secure Your Access to Unrivaled Intelligence for Strategic Decision-Making in Oncology Drug Development
This tool is powered by an award-winning, artificial intelligence (AI) enhanced intelligence platform with over 25 years of expertise in oncology, delivering uniquely comprehensive business, competitive and clinical intelligence across all stages of oncology drug development. For business development and search & evaluation, it provides unmatched visibility into the global oncology landscape - spanning technologies, targets, start-ups to pharma, and academic-commercial opportunities - making it a powerful deal book with integrated licensing contacts and thousands of past deals. In clinical development, the tool features an industry-leading biomarker intelligence panel of over 3,000 biomarkers and tracks their roles as stratifying, predictive, and pharmacodynamic markers, alongside companion diagnostic initiatives from early stage to approval. Proprietary early success/failure indicators spotlight clinical leaders and laggards, helping you monitor and anticipate shifts in the evolving landscape. Our clinical trial intelligence goes beyond endpoints, capturing dosage details, resistance mechanisms, adverse events, food effects, trial phase and status progression, first-in-human (FIH) studies, tumor stage/grade, and line of therapy (LoT) - offering a complete view of the trial landscape. We simplify the complexity of combination therapy development, breaking down targets, drug modalities, indications, and trial stages to create a map of evolving strategies for fast, strategic decision-making. Finally, we integrate Real-World Evidence (RWE) with multi-point analytics tailored to any development stage. Whether segmented by drug modality, co-medication profiles, or biomarker clusters, the tool enables deep, contextual insights - driving faster, smarter, and evidence-based decisions in oncology research and development.
Coverage Breakdown from your Bi/Multispecific Drugs in Oncology Analytical Tool
Competitor Overview
Organizations Monitored: 870+ Organization Types Corporate: 743 Private: 435 Public: 248 Academic: 89 Startup: 90 Cancer Ctr/Hospital: 38 Big Pharma/Biotech: 34
Top 5 Drug Developers:
Amgen Hoffmann-La Roche (incl. Genentech) J&J Xencor Biocytogen
Top 5 Nations:
USA China South Korea UK Germany
Pipeline
Total No Drugs: 1,400+ Discovery: 420+ Preclinical: 1,130+ Phase 1: 300+ Phase 2: 200+ Phase 3: 23 Pre-registration: Marketed: 21 Targets: 481 Tumor Types: 167 Clinical Trials: 1,481 Clinical Biomarkers: 464 Drugs in Combination Therapies: 197
Deals & Alliances
No. Deals (Last 5 Years): 350 BD&L Contacts: >1,800 World-Wide Academic Commercial Opportunity Projects: 17
Funding & Investors
Funding (Last 5 Years): >1,100 Top Investors: 231
For more information about this directory visit https://www.researchandmarkets.com/r/bk6rwf
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
CONTACT: CONTACT: ResearchAndMarkets.com Laura Wood,Senior Press Manager press@researchandmarkets.com For E.S.T Office Hours Call 1-917-300-0470 For U.S./ CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900
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- Will FDA-Backed Real-Time Trials in SCLC Reframe Amgen's (AMGN) R&D Narrative?
May 10, 2026
The U.S. FDA recently highlighted Amgen’s role in its real‑time clinical trials initiative, confirming the initiation of Amgen’s Phase 1b STREAM-SCLC study in limited-stage small cell lung cancer using real-time data signal sharing. This positions Amgen at the forefront of emerging “continuous” trial frameworks that aim to shorten development timelines and could change how oncology drugs are tested and reviewed. We’ll now examine how Amgen’s early involvement in real-time oncology trials might influence its broader investment narrative and long-term R&D profile.
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Amgen Investment Narrative Recap
To own Amgen, you need to believe in its ability to refresh an aging portfolio with new biologics while managing pricing pressure, biosimilar competition, and rising R&D and manufacturing spend. The FDA’s real time clinical trial initiative and Amgen’s STREAM SCLC study are important for its long term oncology pipeline, but the more immediate catalysts and risks still center on execution in existing franchises, pricing headwinds, and whether heavier investment starts to weigh on margins.
The most relevant recent update here is Amgen’s 2026 guidance, which calls for total revenue of US$37.1 billion to US$38.5 billion and GAAP EPS of US$15.62 to US$17.10. Those numbers frame how much room Amgen has to absorb higher R&D and capital spending, including its growing U.S. manufacturing footprint, while it experiments with new trial models like real time oncology studies.
Yet, against this backdrop of innovation and capacity expansion, investors should also be aware that heavier, sustained R&D and manufacturing investment could pressure near term margins if late stage programs underperform or face delays...
Read the full narrative on Amgen (it's free!)
Amgen's narrative projects $37.4 billion revenue and $8.2 billion earnings by 2028. This requires 2.3% yearly revenue growth and an earnings increase of about $1.6 billion from $6.6 billion today.
Uncover how Amgen's forecasts yield a $350.03 fair value, a 6% upside to its current price.
Exploring Other PerspectivesAMGN 1-Year Stock Price Chart
Some of the lowest estimate analysts were already assuming flat revenue near US$36.7 billion and slightly shrinking margins, which is a far more pessimistic view than the consensus. As you look at Amgen’s real time trials and manufacturing build out, it is worth weighing how these new developments might challenge that bearish case or reinforce concerns about returns on all this spending.
Story Continues
Explore 4 other fair value estimates on Amgen - why the stock might be worth just $350.03!
Form Your Own Verdict
Don't just follow the ticker - dig into the data and build a conviction that's truly your own.
A great starting point for your Amgen research is our analysis highlighting 3 key rewards and 1 important warning sign that could impact your investment decision. Our free Amgen research report provides a comprehensive fundamental analysis summarized in a single visual - the Snowflake - making it easy to evaluate Amgen's overall financial health at a glance.
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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
Companies discussed in this article include AMGN.
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com
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- Amgen’s Real Time FDA Trial Pilot Puts Oncology Execution In Focus
May 10, 2026
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Amgen (NasdaqGS:AMGN) has been selected by the US Food and Drug Administration to participate in its real time clinical trials initiative. The company will apply the framework to its Phase 1b STREAM SCLC trial in small cell lung carcinoma. The initiative enables the FDA to receive trial data signals in real time, with the goal of improving trial efficiency and drug development timelines.
Amgen focuses on biotechnology driven therapies, including oncology, where clinical trial design and speed of evidence generation are increasingly important. Real time data sharing for the STREAM SCLC trial fits into a broader push across drug development to use digital tools and more flexible protocols to assess safety and efficacy signals sooner.
For investors watching NasdaqGS:AMGN, participation in the FDA's real time clinical trials initiative reflects how the company is approaching complex oncology programs. The results, when available, may inform how regulators and large biopharma companies run future studies in small cell lung carcinoma and other cancer indications.
Stay updated on the most important news stories for Amgen by adding it to your watchlist or portfolio. Alternatively, explore our Community to discover new perspectives on Amgen.NasdaqGS:AMGN Earnings & Revenue Growth as at May 2026
📰 Beyond the headline: 1 risk and 3 things going right for Amgen that every investor should see.
For you as an investor, Amgen’s role in the FDA’s real time clinical trials initiative is primarily about execution quality rather than immediate financial impact. Real time signal sharing in the Phase 1b STREAM SCLC study could shorten decision cycles, help identify safety or efficacy trends earlier and reduce the risk of spending heavily on trials that later need redesign. In oncology, where peers such as Merck, Bristol Myers Squibb and AstraZeneca are also active, being able to design more adaptive, data rich studies can be a differentiator in how quickly a company moves from early trials toward larger programs and, eventually, commercial opportunities.
How This Fits Into The Amgen Narrative
The focus on real time clinical data fits with the narrative around digital transformation and AI driven workflows supporting productivity across R&D and potentially helping Amgen bring targeted therapies to market more efficiently. At the same time, using more complex trial frameworks could increase near term R&D intensity, which links back to the narrative risk that heavy late stage investment may pressure margins and cash flow if programs do not deliver. The specific operational lessons from running a real time trial in small cell lung carcinoma are not explicitly captured in the broader narrative about chronic diseases and biosimilars, so investors may want to watch how management references this pilot in future commentary.
Story Continues
Knowing what a company is worth starts with understanding its story. Check out one of the top narratives in the Simply Wall St Community for Amgen to help decide what it's worth to you.
The Risks and Rewards Investors Should Consider
⚠️ Real time clinical trials could require higher upfront spending on data infrastructure and trial oversight, which matters given analysts have flagged that debt is not well covered by operating cash flow. ⚠️ If early signals in STREAM SCLC are not supportive, that could raise questions about parts of the oncology pipeline and the payback on increased R&D and capital expenditure. 🎁 Successful use of real time trials may improve the efficiency of early phase development and support the broader push into targeted oncology, which ties into expectations for earnings growth. 🎁 Participation in an FDA proof of concept program may help Amgen influence future regulatory expectations around continuous trials, potentially benefiting its broader portfolio versus smaller competitors.
What To Watch Going Forward
From here, focus on how often management refers to real time clinical trials in conference presentations and earnings calls, and whether they outline concrete benefits such as faster go or no go decisions or changes in trial timelines. It is also worth tracking how this approach is rolled out beyond STREAM SCLC into other oncology or rare disease programs, and whether regulators extend similar frameworks more widely across the sector. Any commentary on R&D spending, capital allocation and debt coverage will help you judge how these trial approaches fit alongside Amgen’s manufacturing expansions and pipeline priorities.
To ensure you're always in the loop on how the latest news impacts the investment narrative for Amgen, head to the community page for Amgen to never miss an update on the top community narratives.
This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
Companies discussed in this article include AMGN.
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com
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- AMGEN TO PRESENT AT THE BANK OF AMERICA MERRILL LYNCH GLOBAL HEALTHCARE CONFERENCE
May 7, 2026
THOUSAND OAKS, Calif., May 7, 2026 /PRNewswire/ -- Amgen (NASDAQ:AMGN) will present at the Bank of America Merrill Lynch Global Healthcare Conference at 10:00 a.m. PT on Wednesday, May 13, 2026. Peter Griffith, executive vice president and chief financial officer at Amgen, and Jay Bradner, executive vice president of Research and Development at Amgen, will present at the conference. The webcast will be broadcast over the internet simultaneously and will be available to members of the news media, investors and the general public.
The webcast, as with other selected presentations regarding developments in Amgen's business given by management at certain investor and medical conferences, can be found on Amgen's website, www.amgen.com, under Investors. Information regarding presentation times, webcast availability and webcast links are noted on Amgen's Investor Relations Events Calendar. The webcast will be archived and available for replay for at least 90 days after the event.
About Amgen
Amgen discovers, develops, manufactures and delivers innovative medicines to fight some of the world's toughest diseases. Harnessing the best of biology and technology, Amgen reaches millions of patients with its medicines.
More than 45 years ago, Amgen helped establish the biotechnology industry at its U.S. headquarters in Thousand Oaks, California, and it remains at the cutting edge of innovation, using technology and human genetic data to push beyond what is known today. Amgen is advancing a broad and deep pipeline and portfolio of medicines to treat cancer, inflammatory conditions, rare diseases, heart disease and obesity and obesity-related conditions.
Amgen has been consistently recognized for innovation and workplace culture, including honors from Fast Company and Forbes. Amgen is one of the 30 companies that comprise the Dow Jones Industrial Average®, and it is also part of the Nasdaq-100 Index®, which includes the largest and most innovative non-financial companies listed on the Nasdaq Stock Market based on market capitalization.
For more information, visit Amgen.com and follow Amgen on X, LinkedIn, Instagram, YouTube, Facebook, TikTok and Threads.
CONTACT: Amgen, Thousand Oaks
Elissa Snook, 609-251-1407 (media)
Casey Capparelli, 805-447-1746 (investors)Amgen Logo. (PRNewsFoto/Amgen) (PRNewsFoto/)Cision
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- IgG4-Related Disease Market Analysis and Forecasts, 2025-2026 & 2035 with Amgen, Zenas BioPharma, Bristol Myers Squibb, and Sanofi Leading
May 7, 2026
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Global IgG4-related disease market sees growth due to increased research funding and development of targeted therapies. This rare autoimmune condition results in inflammation and organ dysfunction. Emerging biologic treatments aim to improve efficacy and safety over traditional corticosteroids. Key players like Amgen and Sanofi are innovating with strategic investments and market expansion, despite challenges posed by costs and limited treatment options. The need for better biomarkers is critical for precise diagnosis and management, promoting personalized patient care. North America, Europe, and Asia-Pacific are primary regional markets.
Dublin, May 07, 2026 (GLOBE NEWSWIRE) -- The "IgG4-Related Disease Market - A Global and Regional Analysis: Focus on Country and Region - Analysis and Forecast, 2025-2035" report has been added to ResearchAndMarkets.com's offering.
The global IgG4-related disease market is highly competitive, with several key players driving innovation and market growth. Leading companies such as Amgen Inc, Zenas BioPharma, Bristol Myers Squibb, and Sanofi are at the forefront of the market, each contributing through innovative therapies and treatments.
These companies are undertaking several strategic initiatives to expand their presence and accelerate the development of treatments for this rare and complex condition. These initiatives include investments in research and development, partnerships, geographical expansion, and market access strategies to improve patient outcomes and drive market growth.
The exploration of biomarkers for improved disease monitoring represents a significant opportunity in the IgG4-related disease market. Biomarkers can provide crucial insights into disease activity, progression, and response to treatment, enabling early diagnosis and personalized management of IgG4-related disease. Currently, the reliance on serum IgG4 levels for diagnosis is limited by its lack of specificity, as elevated IgG4 levels can occur in other conditions as well.
However, the identification of more specific and reliable biomarkers could enhance the accuracy of diagnosis, monitor disease flare-ups, and guide treatment decisions, particularly in patients who do not present with clear organ involvement. This development could lead to better treatment outcomes, as clinicians would be able to tailor therapies more effectively, track the effectiveness of immunosuppressive treatments, and intervene earlier to prevent organ damage.
The increasing availability of research funding is a key driver for the growth of the IgG4-related disease market. As awareness of this rare autoimmune condition grows, there is a heightened emphasis on funding research aimed at better understanding its underlying mechanisms and improving treatment options. Both public and private sectors are investing significantly in IgG4-related disease research, with governmental health agencies, non-profit organizations, and pharmaceutical companies contributing to funding. This influx of funding has accelerated the pace of scientific discovery, enabling deeper insights into the immune system dysfunction involved in IgG4-related disease, as well as the identification of novel biomarkers and molecular pathways that could be targeted for more effective treatments.
The development of targeted therapies is another key driver fuelling the growth of the IgG4-related disease market. Traditional treatment approaches for autoimmune diseases often involve broad immunosuppressive therapies, such as corticosteroids, which can have significant side effects. However, with a better understanding of the disease's underlying mechanisms, companies are focusing on developing targeted biologic therapies that can specifically modulate the immune response involved in IgG4-related disease. Monoclonal antibodies and small molecules that selectively target specific immune cells or signaling pathways are being developed to reduce inflammation and fibrosis in affected organs, improving the efficacy and safety of treatments. This trend not only offers better outcomes for patients but also drives the market as healthcare providers adopt these more precise and effective therapies for IgG4-related disease management.
Despite the promising opportunities, several challenges remain in the IgG4-related disease market. Although there have been notable advancements in the treatment of IgG4-related disease, the options available remain limited, particularly for patients who do not respond to first-line therapies such as corticosteroids or rituximab. For those with relapsing or refractory disease, identifying an effective treatment regimen can be difficult. The absence of approved, disease-specific therapies for IgG4-related disease restricts treatment choices, often necessitating the use of off-label drugs, which may not be as effective or well-tolerated as approved alternatives. Additionally, the chronic nature of IgG4-related disease means that many patients require prolonged treatment, raising concerns about potential long-term side effects and the ongoing need for monitoring.
Another significant challenge facing the IgG4-related disease market is the high cost of treatment. The mainstay of therapy for IgG4-related disease includes immunosuppressive drugs such as corticosteroids and biologic therapies such as rituximab (a B-cell depleting monoclonal antibody). While these treatments have shown efficacy, they come with a high price tag, which can limit accessibility, especially in low- and middle-income countries.
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For many patients, the cost of long-term immunosuppressive therapy and biologic agents places a substantial burden on both patients and healthcare systems. The high cost of treatment can also affect treatment adherence, with patients potentially delaying or discontinuing therapy due to financial constraints, leading to worsened health outcomes.
Key Topics Covered:
1. Global IgG4-Related Disease Market: Industry Analysis
1.1 Market Overview and Ecosystem
1.2 Epidemiological Analysis
1.3 Key Market Trends
1.3.1 Impact Analysis
1.4 Regulatory Landscape
1.5 Pipeline Analysis
1.6 Market Dynamics
1.6.1 Overview
1.6.2 Market Drivers
1.6.3 Market Restraints
1.6.4 Market Opportunities
2. Global IgG4-Related Disease Market (by Region), Value ($Million), 2024-2035
2.1 North America
2.1.1 Market Dynamics
2.1.2 Market Sizing and Forecast
2.1.3 North America IgG4-Related Disease Market, by Country ($Million), 2024-2035
2.1.3.1 U.S.
2.2 Europe
2.2.1 Market Dynamics
2.2.2 Market Sizing and Forecast
2.2.3 Europe IgG4-Related Disease Market, by Country ($Million), 2024-2035
2.2.3.1 U.K.
2.2.3.2 France
2.2.3.3 Germany
2.2.3.4 Italy
2.2.3.5 Spain
2.3 Asia-Pacific
2.3.1 Market Dynamics
2.3.2 Market Sizing and Forecast
2.3.3 Asia-Pacific IgG4-Related Disease Market, by Country ($Million), 2024-2035
2.3.3.1 Japan
3. Competitive Landscape and Company Profiles
3.1 Competitive Landscape
3.1.1 Mergers and Acquisitions
3.1.2 Partnership, Alliances and Business Expansion
3.1.3 New Offerings
3.1.4 Regulatory Activities
3.1.5 Funding Activities
3.2 Company Profiles
3.2.1 Amgen Inc.
3.2.1.1 Overview
3.2.1.2 Top Products / Product Portfolio
3.2.1.3 Top Competitors
3.2.1.4 Target Customers/End-Users
3.2.1.5 Key Personnel
3.2.1.6 Analyst View
3.2.2 Zenas BioPharma.
3.2.3 Bristol Myers Squibb.
3.2.4 Sanofi
For more information about this report visit https://www.researchandmarkets.com/r/ev3j36
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
CONTACT: CONTACT: ResearchAndMarkets.com Laura Wood,Senior Press Manager press@researchandmarkets.com For E.S.T Office Hours Call 1-917-300-0470 For U.S./ CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900
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- Zai Lab Announces First Quarter 2026 Financial Results and Recent Corporate Updates
May 7, 2026
– Total revenues of $99.6 million for the first quarter of 2026, reflecting anticipated first-quarter dynamics, including certain competitive impacts for ZEJULA and pricing adjustment related to NRDL renewal for VYVGART
– Zocilurtatug pelitecan (zoci) delivered standout data at AACR 2026, with a 62.5% confirmed intracranial ORR in SCLC patients with brain metastases, and clinically meaningful activity (38.2% confirmed ORR) across epNECs; registrational DLLEVATE trial ongoing with enrollment expected to complete in the first half of 2027
– Collaborations with Amgen and Boehringer Ingelheim to evaluate zoci in combination with tarlatamab in SCLC and obrixtamig in SCLC and other NECs, positioning zoci as a potential backbone therapy
– ZL-1503 (IL-13/IL-31Rα) demonstrated rapid, durable dual-pathway activity in preclinical data presented at IMMUNOLOGY2026, supporting less frequent dosing and broad potential across atopic diseases, including asthma; Phase 1/1b study underway with initial data expected in 2026
– KarXT launch preparations are underway and TIVDAK remains under regulatory review; positive Phase 3 readouts for povetacicept in IgAN and elegrobart in TED providing additional growth opportunities for our regional business
Conference call and webcast today, May 7, 2026, at 8:00 a.m. ET (8:00 p.m. HKT)
SHANGHAI & CAMBRIDGE, Mass., May 07, 2026--(BUSINESS WIRE)--Zai Lab Limited (NASDAQ: ZLAB; HKEX: 9688) today announced financial results for the first quarter of 2026, along with recent product highlights and corporate updates.
"We continue to accelerate the development of our global pipeline, with numerous clinical trials underway across oncology and immunology," said Dr. Samantha Du, Founder, Chairperson and Chief Executive Officer of Zai Lab. "During the quarter, we made strong progress advancing zoci, with AACR data reinforcing its differentiated profile in both SCLC and epNECs, collaborations with Amgen and Boehringer Ingelheim to evaluate zoci as a potential backbone therapy, and rapid enrollment in the registrational DLLEVATE study, which is on track to be fully enrolled in the first half of 2027. We also continue to advance our growing portfolio of global clinical programs, including ZL-1503 (IL-13/IL-31Rα) for atopic dermatitis. This reflects the strength of our R&D engine, which is designed to scale and deliver a pipeline of differentiated new products. At the same time, our commercially profitable regional business provides a stable foundation, with several near-term opportunities expected to support future growth."
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"We are deepening our presence in key markets to capitalize on underlying demand for VYVGART and are expanding our regional footprint as we prepare for the launch of KarXT in China in the second quarter," said Josh Smiley, President and Chief Operating Officer of Zai Lab. "Supported by national guidelines and an addressable population of ~8 million schizophrenia patients, KarXT’s launch positions us to bring the first novel therapy in decades to this critical market, with potential NRDL inclusion next year. In addition, we anticipate a potential regulatory approval for TIVDAK this year, and with positive Phase 3 readouts for povetacicept and elegrobart, we have additional opportunities for future growth. Across all efforts, we remain focused on driving consistent execution throughout our commercial portfolio."
First Quarter 2026 Financial Results
Total revenue was $99.6 million in the first quarter of 2026, compared to $106.5 million for the same period in 2025, representing a decrease of 6% y-o-y. Product revenue, net was $95.6 million in the first quarter of 2026, compared to $105.7 million for the same period in 2025, representing a 10% y-o-y decrease, 12% y-o-y decrease at constant exchange rate (CER). This decrease was primarily driven by decreased sales for ZEJULA, partially offset by increased sales for XACDURO and NUZYRA:
– ZEJULA was $30.0 million in the first quarter of 2026, compared to $49.5 million for the same period in 2025. Sales declined due to a shift in hospital utilization patterns following volume-based procurement for generic olaparib.
– VYVGART was $17.6 million in the first quarter of 2026, compared to $18.1 million for the same period in 2025. Sales declined primarily due to a pricing adjustment related to NRDL renewal.
– XACDURO, was $8.6 million in the first quarter of 2026, compared to $1.1 million for the same period in 2025. Growth was driven by strong patient demand and expanding hospital adoption but was partially constrained by supply limitations.
– NUZYRA was $16.3 million in the first quarter of 2026, compared to $15.1 million for the same period in 2025. This growth was supported by increased market coverage and penetration.
Research and Development (R&D) expenses were $65.6 million in the first quarter of 2026, compared to $60.7 million for the same period in 2025. This increase was primarily due to increased clinical trial-related expenses and licensing fees. Selling, General and Administrative (SG&A) expenses were $65.1 million in the first quarter of 2026, compared to $63.4 million for the same period in 2025. This increase was primarily driven by higher general selling expenses. Loss from operations was $69.4 million in the first quarter of 2026, $51.9 million when adjusted to exclude certain non-cash expenses including depreciation, amortization, and share-based compensation. A reconciliation of loss from operations (GAAP) to adjusted loss from operations (non-GAAP) is included at the end of this release. Net loss was $51.0 million in the first quarter of 2026, or a loss per ordinary share attributable to stockholders of $0.05 (or loss per American Depositary Share (ADS) of $0.46), compared to a net loss of $48.4 million for the same period in 2025, or a loss per ordinary share of $0.04 (or loss per ADS of $0.45). These increases in net loss were primarily due to lower product revenue and higher research and development expenses, partially offset by foreign currency gains. Cash and cash equivalents, short-term investments, and current restricted cash totaled $761.3 million as of March 31, 2026, compared to $789.6 million as of December 31, 2025.
Recent Corporate Updates
In April 2026, we appointed Yizhe Wang, Ph.D., as Operating Partner, to strengthen Zai Lab’s commercial capabilities and execution. Dr. Wang brings extensive experience in global oncology and immunology commercial operations, having led commercial teams across China, the U.S., and the U.K. at GSK and Eli Lilly.
Recent Pipeline Highlights
Below are key product candidate updates since our last earnings release:
Oncology Pipeline
Zocilurtatug Pelitecan (zoci, DLL3-Targeting ADC) (formerly ZL-1310):
– In April 2026, Zai Lab presented compelling clinical data at the American Association for Cancer Research (AACR) Annual Meeting 2026 demonstrating that zoci delivers rapid and robust intracranial responses in patients with previously treated extensive stage small cell lung cancer (ES-SCLC) and brain metastases as measured by blinded independent assessment using mRANO-BM criteria, as well as promising data in patients with extrapulmonary neuroendocrine carcinomas (epNECs).
SCLC with Brain Metastases: Zoci showed a 53.7% confirmed intracranial objective response rate (iORR) with 62.5% (10/16) at the 1.6 mg/kg dose, including complete responses. Notably, responses were observed in patients without prior brain radiotherapy (9/15, 60%), highlighting the net drug effect on the intracranial lesions. Zoci was well tolerated, with Grade ≥3 treatment-related adverse events (TRAEs) in 19.9% (27/136) of the overall population and in 16.4% (9/55) of patients who received 1.6mg/kg. epNECs: Encouraging activity was observed with a 38.2% confirmed objective response rate across epNEC tumors of different primary origins. The safety profile in epNEC was consistent with that previously observed in SCLC with Grade ≥3 TRAEs in 15.2% of patients in Phase 1b.
– In April 2026, Zai Lab announced a global clinical trial collaboration with Amgen to evaluate zoci in combination with Amgen’s IMDELLTRA® (tarlatamab-dlle), a DLL3/CD3 bispecific T-cell engager (TCE), for ES-SCLC and a clinical collaboration with Boehringer Ingelheim to evaluate zoci in combination with obrixtamig, a DLL3/CD3 bispecific TCE, for SCLC and other NECs.
Immunology, Neuroscience, and Infectious Disease Pipeline
ZL-1503 (IL-13/IL-31Rα): In April 2026, Zai Lab announced new data from a preclinical study of ZL-1503, demonstrating that the company’s internally developed IL-13/IL-31Rα bispecific antibody may lead to sustained suppression of intense pruritus (itch) and inflammation caused by atopic diseases. The findings reinforce the potential of ZL-1503 to be a first-in-class treatment option for moderate-to-severe atopic dermatitis and other IL-13 and IL-31-driven diseases. A global Phase 1/1b study is ongoing and Zai Lab expects to report the first-in-human data from the global Phase 1 portion in the second half of 2026.
Povetacicept (APRIL/BAFF):
– IgA nephropathy (IgAN): In March 2026, Zai Lab partner Vertex announced positive data from a pre-specified Week 36 interim analysis of the global Phase 3 RAINIER trial of pove in IgA nephropathy (IgAN). The trial met its primary objective, with povetacicept-treated patients achieving a 52.0% reduction from baseline in 24-hour urine protein to creatinine ratio (UPCR), representing a statistically significant and clinically meaningful 49.8% UPCR reduction versus placebo (p<0.0001). Povetacicept was generally safe and well tolerated. Zai Lab participated in the global Phase 3 study in Greater China.
– Primary membranous nephropathy (pMN): Zai Lab partner Vertex has completed enrollment in the Phase 2 portion of the global pivotal Phase 2/3 OLYMPUS study and has initiated the Phase 3 portion. Zai Lab participated in the global study in Greater China.
Elegrobart (anti-IGF-1R, subcutaneous): Zai Lab partner Viridian Therapeutics announced positive topline data in both REVEAL-1 and REVEAL-2, elegrobart’s two pivotal phase 3 clinical trials for active and chronic TED, respectively. Elegrobart was generally well tolerated across both studies. Zai Lab holds an exclusive license from Zenas BioPharma to develop and commercialize elegrobart in Greater China and is currently conducting a Phase 3 bridging study in the region.
– REVEAL-1 in active TED: met its primary endpoint with a highly statistically significant treatment effect. Both elegrobart Q4W and Q8W treatment arms showed rapid onset of treatment effect and achieved clinically meaningful 54% and 63% proptosis responder rates, respectively, versus 18% placebo at week 24. The Q4W treatment arm additionally provided meaningful diplopia benefit to patients with active TED.
– REVEAL-2 in chronic TED: met its primary endpoint with a highly statistically significant treatment effect. Both elegrobart Q4W and Q8W treatment arms achieved statistically significant and clinically meaningful 50% and 54% proptosis responder rates, respectively, versus 15% placebo at week 24. The Q4W treatment arm additionally provided meaningful diplopia benefit to patients with chronic TED.
Anticipated Major Milestones in 2026
Expected Clinical Developments and Data Readouts
Global Pipeline
Zocilurtatug Pelitecan (zoci, DLL3-Targeting ADC) (formerly ZL-1310)
First-Line ES-SCLC: Zai Lab to provide data readout from the Phase 1 study evaluating zoci combination therapy (with atezolizumab and/or chemotherapy) in the second half of 2026 and advance zoci into a registrational study in 2026 based on emerging data.
Extrapulmonary NECs: Zai Lab to complete the enrollment for the global Phase 2 portion of the ongoing Phase 1b/2 study evaluating zoci in patients with selected solid tumors and advance into registrational development in 2026.
ZL-1503 (IL-13/IL-31Rα)
Zai Lab to provide the first-in-human data readout from the global Phase 1/1b study in 2026.
Regional Pipeline
Upcoming Potential NMPA Approvals
TIVDAK (Tisotumab Vedotin, Tissue Factor ADC) in recurrent or metastatic cervical cancer following progression on or after chemotherapy
Tumor Treating Fields (TTFields) in locally advanced pancreatic cancer
Expected Data Readouts
Efgartigimod (FcRn)
Myositis: Zai Lab partner argenx to provide topline results from the global Phase 2/3 ALKIVIA study evaluating autoimmune inflammatory myopathies (AIM or myositis) in the third quarter of 2026. Zai Lab participated in the study in Greater China.
Elegrobart (Anti-IGF-1R, subcutaneous)
Zai Lab to complete the enrollment for the Phase 3 registrational study in China in the third quarter of 2026.
Conference Call and Webcast Information
Zai Lab will host a live conference call and webcast today, May 7, 2026, at 8:00 a.m. ET (8:00 p.m. HKT). Listeners may access the live webcast by visiting the Company’s website at http://ir.zailaboratory.com. Participants must register in advance of the conference call.
Details are as follows:
Registration link for webcast (preferred): https://edge.media-server.com/mmc/p/s7q4ox5h Registration link for dial-in: https://register-conf.media-server.com/register/BI802954894429400baf012f775762af29
All participants must use the link provided above to complete the online registration process in advance of the conference call. Dial-in details will be in the confirmation email which the participant will receive upon registering.
A replay will be available shortly after the call and can be accessed by visiting the Company’s website.
About Zai Lab
Zai Lab Limited (NASDAQ: ZLAB; HKEX: 9688) is an innovative, research-based, commercial-stage biopharmaceutical company based in China and the United States. We are focused on discovering, developing, and commercializing innovative products that address medical conditions with significant unmet needs in the areas of oncology, immunology, neuroscience, and infectious disease. Our goal is to leverage our competencies and resources to positively impact human health.
For additional information about Zai Lab, please visit www.zailaboratory.com or follow us at https://x.com/ZaiLab_Global.
Non-GAAP Measures
In addition to results presented in accordance with GAAP, we disclose growth rates that have been adjusted to exclude the impact of changes due to the translation of foreign currencies into U.S. dollars. We have also presented a measure of adjusted loss from operations that adjusts GAAP loss from operations to exclude the impact of certain non-cash expenses including depreciation, amortization, and share-based compensation, which we refer to as "profitability." These adjusted growth rates and adjusted loss from operations are non-GAAP measures. We believe that these non-GAAP measures are important for an understanding of the performance of our business operations and financial results and provide investors with an additional perspective on operational trends and greater transparency into our historical and projected operating performance. Although we believe the non-GAAP financial measures enhance investors’ understanding of our business and performance, these non-GAAP financial measures should not be considered an exclusive alternative to accompanying GAAP financial measures.
Zai Lab Forward-Looking Statements
This press release contains certain forward-looking statements, including statements relating to our strategy and plans; potential of and expectations for our business, commercial products, and pipeline programs; our goals, objectives, and priorities and our expectations under our growth strategy (including our expectations regarding our commercial products and launches, clinical stage products, revenue growth, profitability, and cash flow); clinical development programs and related clinical trials; clinical trial data, data readouts, and presentations; risks and uncertainties associated with drug development and commercialization; regulatory discussions, submissions, filings, and approvals and the timing thereof; the potential benefits, safety, and efficacy of our products and product candidates and those of our collaboration partners; the anticipated benefits and potential of investments, collaborations, and business development activities; our profitability and timeline to profitability; our future financial and operating results; and financial guidance, including with respect to our capital allocation and investment strategy and our expected path to profitability. All statements, other than statements of historical fact, included in this press release are forward-looking statements, and can be identified by words such as "aim," "anticipate," "believe," "could," "estimate," "expect," "forecast," "goal," "intend," "may," "plan," "poised," "positioned," "possible," "potential," "will," "would," and other similar expressions. Such statements constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are not guarantees or assurances of future performance. Forward-looking statements are based on our expectations and assumptions as of the date of this press release and are subject to inherent uncertainties, risks, and changes in circumstances that may differ materially from those contemplated by the forward-looking statements. We may not actually achieve the plans, carry out the intentions, or meet the expectations or projections disclosed in our forward-looking statements, and you should not place undue reliance on these forward-looking statements. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including but not limited to (1) our ability to successfully commercialize and generate revenue from our approved products; (2) our ability to obtain funding for our operations and business initiatives; (3) the results of our clinical and pre-clinical development of our product candidates; (4) the content and timing of decisions made by the relevant regulatory authorities regarding regulatory approvals of our product candidates; (5) risks related to doing business in China; and (6) other factors identified in our most recent annual and quarterly reports and in other reports we have filed with the U.S. Securities and Exchange Commission (SEC). We anticipate that subsequent events and developments will cause our expectations and assumptions to change, and we undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as may be required by law. These forward-looking statements should not be relied upon as representing our views as of any date subsequent to the date of this press release.
Our SEC filings can be found on our website at www.zailaboratory.com and on the SEC’s website at www.SEC.gov.
Zai Lab Limited Unaudited Condensed Consolidated Balance Sheets (in thousands of U.S. dollars ($), except for number of shares and per share data) March 31,
2026 December 31,
2025 Assets Current assets Cash and cash equivalents 651,316 679,573 Restricted cash, current 100,000 100,000 Short-term investments 10,000 10,000 Accounts receivable (net of allowance for credit losses of $16 and $31 as of March 31, 2026 and December 31, 2025, respectively) 54,069 106,116 Notes receivable 7,929 12,169 Inventories, net 85,961 74,745 Prepayments and other current assets 35,454 36,683 Total current assets 944,729 1,019,286 Restricted cash, non-current 1,117 1,116 Property and equipment, net 47,067 47,389 Operating lease right-of-use assets 17,585 19,152 Land use rights, net 2,868 2,853 Intangible assets, net 75,759 76,144 Deferred tax assets 3,444 3,390 Other non-current assets 3,168 3,054 Total assets 1,095,737 1,172,384 Liabilities and shareholders’ equity Current liabilities Accounts payable 126,169 141,608 Current operating lease liabilities 5,983 6,344 Short-term debt 213,819 204,530 Other current liabilities 47,011 63,684 Total current liabilities 392,982 416,166 Deferred income 28,627 27,333 Non-current operating lease liabilities 12,107 13,385 Other non-current liabilities 40 — Total liabilities 433,756 456,884 Commitments and contingencies Shareholders’ equity Ordinary shares (par value of $0.000006 per share; 5,000,000,000 shares authorized; 1,118,835,190 and 1,113,822,550 shares issued as of March 31, 2026 and December 31, 2025, respectively; 1,110,232,620 and 1,106,389,340 shares outstanding as of March 31, 2026 and December 31, 2025, respectively) 7 7 Additional paid-in capital 3,357,826 3,343,469 Accumulated deficit (2,679,636 ) (2,628,620 ) Accumulated other comprehensive income 15,105 29,697 Treasury Stock (at cost, 8,602,570 and 7,433,210 shares as of March 31, 2026 and December 31, 2025, respectively) (31,321 ) (29,053 ) Total shareholders’ equity 661,981 715,500 Total liabilities and shareholders’ equity 1,095,737 1,172,384
Zai Lab Limited Unaudited Condensed Consolidated Statements of Operations (in thousands of $, except for number of shares and per share data) Three Months Ended March 31, 2026 2025 Revenues Product revenue, net 95,556 105,650 Collaboration revenue 4,055 837 Total revenues 99,611 106,487 Expenses Cost of product revenue (38,315 ) (38,452 ) Cost of collaboration revenue (20 ) (195 ) Research and development (65,591 ) (60,729 ) Selling, general, and administrative (65,070 ) (63,422 ) Loss from operations (69,385 ) (56,311 ) Interest income 6,447 8,606 Interest expenses (1,637 ) (1,187 ) Foreign currency gains 14,837 651 Other income (expense), net 162 (197 ) Loss before income tax (49,576 ) (48,438 ) Income tax expense (1,440 ) — Net loss (51,016 ) (48,438 ) Loss per share - basic and diluted (0.05 ) (0.04 ) Weighted-average shares used in calculating net loss per ordinary share - basic and diluted 1,107,390,590 1,080,825,300
Zai Lab Limited Unaudited Condensed Consolidated Statements of Comprehensive Loss (in thousands of $) Three Months Ended March 31, 2026 2025 Net loss (51,016 ) (48,438 ) Other comprehensive loss, net of tax of nil: Foreign currency translation adjustments (14,592 ) (1,212 ) Comprehensive loss (65,608 ) (49,650 )
Zai Lab Limited Non-GAAP Measures (unaudited) ($ in thousands) Growth on a Constant Exchange Rate (CER) Basis Three Months Ended
March 31, Year over Year %
Growth 2026 2025 As reported At CER* Product revenue, net 95,556 105,650 (10 )% (12 )% Loss from operations (69,385 ) (56,311 ) 23 % 22 %
* The growth rates at CER were calculated assuming the same foreign currency exchange rates were in effect for the current and prior year period
Reconciliation of Loss from Operations (GAAP) to Adjusted Loss from Operations (Non-GAAP)
Three Months Ended March 31, 2026 2025 GAAP loss from operations (69,385 ) (56,311 ) Plus: Depreciation and amortization expenses 3,944 3,458 Plus: Share-based compensation 13,524 15,800 Adjusted loss from operations (51,917 ) (37,053 )
View source version on businesswire.com: https://www.businesswire.com/news/home/20260507022619/en/
Contacts
For more information:
Investor Relations:
Christine Chiou / Cyan Liu
+1 (917) 886-6929 / +86 195 3130 8895
christine.chiou1@zailaboratory.com / cyan.liu@zailaboratory.com
Media:
Shaun Maccoun / Xiaoyu Chen
+1 (415) 317-7255 / +86 185 0015 5011
shaun.maccoun@zailaboratory.com / xiaoyu.chen@zailaboratory.com
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- As AI Rewrites Drug Development, the Industry Gathers in Philadelphia to Work Out the Rules
May 6, 2026
DIA 2026 Global Annual Meeting brings together regulators from four continents, 20 of the world's leading pharmaceutical companies, and more than 4,100 drug development professionals — June 14–18 at the Pennsylvania Convention Center
WASHINGTON, May 6, 2026 /PRNewswire/ -- Artificial intelligence is moving faster than the frameworks designed to govern it. This June, the people responsible for closing that gap will be in one room.Drug Information Association (PRNewsfoto/Drug Information Association)
The Drug Information Association's 2026 Global Annual Meeting convenes a cross-section of drug development that is difficult to find anywhere else: the FDA, the European Medicines Agency, Japan's PMDA, the UK's MHRA, Health Canada, Brazil's ANVISA, and the African Medicines Agency, alongside Pfizer, Eli Lilly, Bayer, Novo Nordisk, Moderna, Genentech, Amgen, and more than a dozen other leading pharmaceutical companies. More than 150 sessions will take on the biggest questions facing the field, from AI governance and GLP-1 innovation to CAR-T access and global regulatory harmonization.
Physician-scientist and Every Cure co-founder David Fajgenbaum delivers the opening keynote. Daily plenaries, including the opening session featuring former White House public health official and President of GATC Health Rahul Gupta on use of AI to de-risk drug development and capital investment, will also include former FDA Commissioner Robert Califf on GLP-1 therapies and Penn Medicine pioneer Bruce Levine on engineered T-cell therapies. The meeting closes Thursday with a closing session featuring leaders from Google, OpenAI, Eli Lilly, Bain & Company, and Children's Hospital of Philadelphia.
On Wednesday evening, DIA presents its Inspire Awards at the National Constitution Center honoring Noubar Afeyan, Peter Marks, Emily Whitehead, the Baby KJ care team, and Novo Nordisk.
"In sixty-plus years, DIA has never convened at a moment quite like this one," said Marwan Fathallah, DIA Chief Executive Officer. "The science is moving faster than at any point in our history, and so is the uncertainty. This meeting exists to turn that uncertainty into alignment, and this year, the stakes for getting that right have never been higher."
Standard registration rates end May 14. Hotels and full program details at diaglobal.org/dia-2026. Media members can email diaglobal@gregoryfca.com for credentials.
About DIA DIA is a leading global non-profit life science membership association that drives collaboration in drug, device, and diagnostics development in pursuit of a healthier world. Founded in 1964 with headquarters in Washington, D.C., and offices in Europe and Asia, DIA provides unparalleled networking opportunities, educational resources, scientific research publications, and professional development programs to members in more than 80 countries.
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Learn more at DIAglobal.org and connect with DIA on X (Twitter), LinkedIn, Facebook, and Instagram.Cision
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- Amgen’s US$300m Biologics Push And What It Means For AMGN Stock
May 6, 2026
Track your investments for FREE with Simply Wall St, the portfolio command center trusted by over 7 million individual investors worldwide.
Amgen announced a $300 million expansion of its U.S. biologics manufacturing network. The plan includes a significant new investment in a Puerto Rico facility to scale next generation technologies. The move is intended to support domestic medicine production and strengthen the American supply chain.
For investors tracking NasdaqGS:AMGN, this manufacturing build out adds an operational angle to a stock that is currently trading at $329.59. Over the past year, the share price return of 25.7% and 3 year return of 54.4% sit alongside a 5 year return of 52.8%. Shorter term moves have been more mixed, with a 7 day return of 2.9% decline and a 30 day return of 5.3% decline.
This new commitment to biologics capacity and next generation technologies could shape how you think about Amgen's role in U.S. medicine supply and long term biomanufacturing capabilities. The focus on Puerto Rico and the broader domestic network may also be relevant if you care about supply chain resilience, job creation, and the reliability of complex therapies over time.
Stay updated on the most important news stories for Amgen by adding it to your watchlist or portfolio. Alternatively, explore our Community to discover new perspectives on Amgen.NasdaqGS:AMGN Earnings & Revenue Growth as at May 2026
📰 Beyond the headline: 1 risk and 3 things going right for Amgen that every investor should see.
Quick Assessment
⚖️ Price vs Analyst Target: At US$329.59, Amgen trades roughly 7% below the US$353.07 analyst target, with a wide range between US$200 and US$432. ✅ Simply Wall St Valuation: The stock is assessed as trading about 50.8% below an estimated fair value based on discounted cash flow. ❌ Recent Momentum: The 30 day return is a 5.3% decline, so the price has recently been under pressure.
There is only one way to know the right time to buy, sell or hold Amgen. Head to Simply Wall St's company report for the latest analysis of Amgen's Fair Value.
Key Considerations
📊 The US$300 million biologics expansion supports Amgen's role in domestic medicine production and could reinforce its position in complex therapies. 📊 Watch how capital expenditure, utilization of the Puerto Rico facility, and any commentary on supply chain resilience show up in future results and guidance. ⚠️ Debt is flagged as not well covered by operating cash flow, so monitor leverage and funding of this build out alongside any future borrowing.
Dig Deeper
For the full picture including more risks and rewards, check out the complete Amgen analysis. Alternatively, you can check out the community page for Amgen to see how other investors believe this latest news will impact the company's narrative.
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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
Companies discussed in this article include AMGN.
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com
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- RPRX vs. AMGN: Which Stock Is the Better Value Option?
May 6, 2026
Investors with an interest in Medical - Biomedical and Genetics stocks have likely encountered both Royalty Pharma (RPRX) and Amgen (AMGN). But which of these two stocks presents investors with the better value opportunity right now? Let's take a closer look.
Everyone has their own methods for finding great value opportunities, but our model includes pairing an impressive grade in the Value category of our Style Scores system with a strong Zacks Rank. The proven Zacks Rank puts an emphasis on earnings estimates and estimate revisions, while our Style Scores work to identify stocks with specific traits.
Royalty Pharma has a Zacks Rank of #2 (Buy), while Amgen has a Zacks Rank of #3 (Hold) right now. Investors should feel comfortable knowing that RPRX likely has seen a stronger improvement to its earnings outlook than AMGN has recently. But this is only part of the picture for value investors.
Value investors analyze a variety of traditional, tried-and-true metrics to help find companies that they believe are undervalued at their current share price levels.
The Value category of the Style Scores system identifies undervalued companies by looking at a number of key metrics. These include the long-favored P/E ratio, P/S ratio, earnings yield, cash flow per share, and a variety of other fundamentals that help us determine a company's fair value.
RPRX currently has a forward P/E ratio of 9.92, while AMGN has a forward P/E of 14.84. We also note that RPRX has a PEG ratio of 3.22. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. AMGN currently has a PEG ratio of 3.35.
Another notable valuation metric for RPRX is its P/B ratio of 3. Investors use the P/B ratio to look at a stock's market value versus its book value, which is defined as total assets minus total liabilities. By comparison, AMGN has a P/B of 19.35.
These metrics, and several others, help RPRX earn a Value grade of B, while AMGN has been given a Value grade of C.
RPRX is currently sporting an improving earnings outlook, which makes it stick out in our Zacks Rank model. And, based on the above valuation metrics, we feel that RPRX is likely the superior value option right now.
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Amgen Inc. (AMGN) : Free Stock Analysis Report
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- Timothy P. Walbert Joins Patient Square Capital as a Senior Advisor
May 6, 2026
MENLO PARK, Calif., May 06, 2026--(BUSINESS WIRE)--Patient Square Capital, a leading health care investment firm, today announced that Timothy P. Walbert has joined the firm as a Senior Advisor.
Mr. Walbert brings more than three decades of biopharmaceutical leadership experience and currently serves as Managing Partner of HRZN Partners LLC and a Senior Advisor to Amgen. Most recently, he was Chairman, President, and Chief Executive Officer of Horizon Therapeutics, which he grew to approximately $4 billion in annual sales prior to its $28.3 billion acquisition by Amgen in 2023; earlier, he led IDM Pharma Inc. through its acquisition by Takeda and held senior roles at Abbott (now AbbVie), where he led the global launch of HUMIRA®, as well as at G.D. Searle & Company, Merck & Co., and Wyeth.
"Patient Square Capital has built a highly differentiated platform and a strong record of partnering with management teams to create enduring value in health care," said Tim Walbert. "I’m pleased to join the firm as a Senior Advisor and look forward to contributing my experience in support of the team and its portfolio companies as they advance innovations that improve patient outcomes."
"Tim is an extremely accomplished leader and business builder with a proven history of delivering impactful therapies to patients and creating significant long-term value," said Jim Momtazee, Managing Partner of Patient Square Capital. "We have known Tim for a long time and believe that his depth of experience will be an exceptional resource to our team and our portfolio companies as we expand our investment activities in the therapeutics sector."
Mr. Walbert currently serves on the boards of several public and private companies, including Mirum Pharmaceuticals, Sagimet Biosciences, BioMarin Pharmaceutical, Odyssey Therapeutics, Cour Pharmaceuticals, Catalent, Crystalys Therapeutics, and Latigo Biotherapeutics, where he serves as Chairman. His prior board experience includes Aurinia Pharmaceuticals, Exicure (Chairman), Assertio (Chairman), Raptor Pharmaceutical Corp., Century Therapeutics, XOMA Corporation, and Sucampo Pharmaceuticals. Mr. Walbert earned a Bachelor of Arts in Business from Muhlenberg College.
About Patient Square Capital
Patient Square Capital is a dedicated health care investment firm with over $18 billion in assets under management. The firm aims to achieve strong investment returns by partnering with growth-oriented companies and top-tier management teams whose products, services, and technologies improve health. Patient Square utilizes deep industry expertise, a broad network of relationships, and a partnership approach to make investments in companies that will grow and thrive. Patient Square invests in businesses that strive to improve patient lives, strengthen communities, and create a healthier world. For more information, visit www.patientsquarecapital.com.
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Contacts
Prosek Partners
pro-PatientSquareCapital@prosek.com
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