A highly anticipated obesity-drug candidate from biotech Amgen helped patients shed a significant amount of weight in a midstage study, but fell short of the loftier expectations of some investors. Subjects taking Amgen’s MariTide lost 20% of their body weight compared with those who received placebos,

Amgen's experimental drug MariTide helped overweight or obese patients shed up to 20% of their body weight in a mid-stage trial, but the results failed to meet lofty investor expectations and shares of the biotech company tumbled about 12% on Tuesday.

Amgen's experimental drug MariTide helped overweight or obese patients lose up to 20% weight on average in a year-long mid-stage trial, data that missed lofty investor expectations and sent the shares down 8% before the bell on Tuesday.