Amgen shares hit after analysts expose buried FDA trial halt

Thursday, Amgen posted what appeared to be a fairly innocuous update about its drug Kyprolis and other pipeline assets, but a deeper read turned up a nasty surprise.

About midway through its release, the U.S. biopharma revealed matter-of-factly that a phase 1 dose escalation clinical trial for its drug AMG 397, an oral small molecule MCL1 inhibitor, in blood cancers has been hit with a clinical hold.