Amgen shares leaped in late trading Friday after the company said a pivotal trial of its experimental osteoporosis drug denosumab met its goal of significantly reducing the risk of bone fracture in post-menopausal women.
Shares of Amgen rose 11.2 percent in extended electronic trade, from a close of $53.92 on the Nasdaq.
Amgen said trial patients treated with denosumab had a statistically significant reduction in the incidence of new vertebral fractures, compared with those given a placebo. They also experienced a statistically significant reduction in the incidence of new non-vertebral and hip fractures, the company said.
Amgen also said the incidence and types of side effects observed in the study, including serious infections and malignancies, were similar between the denosumab and placebo groups.