AMGN Phase 3 readout: a negative outcome, -8.3%

On March 12, 2020, Blinatumomab — Amgen Inc. (Acute Lymphoblastic Leukemia) reached its Phase 3 readout. The result was a negative outcome, and the stock moved -8.3% in the window around the event. It had already run -13.4% in the 30 days into the catalyst — the kind of pre-event run-up that often precedes binary readouts.