Amgen said on Wednesday there was no link between its experimental weight-loss drug and changes in bone mineral density, a day after data from an early-stage study dragged its stock 7% lower.

Amgen (AMGN) stock falls as Cantor Fitzgerald raises safety concerns over bone mineral density loss linked to obesity candidate MariTide. Read more here.

CEO Bob Bradway said Amgen is "well advanced" in preparing to launch a Phase 3 testing round of MariTide in order to have enough data to allow the drug to receive approval from regulators. Amgen has also begun to examine a different weight-loss drug candidate, although few details have been disclosed, Reuters reported.

Analysts cited data from a phase one study showing the highest dose of Amgen's MariTide was linked to roughly 4% loss of bone mineral density over 12 weeks.

Amgen (AMGN) stock spiked after the company ruled out out bone density concerns linked to obesity drug MariTide, following a recent share price decline. Read more here.