Catalyst Dossier · compiled by Celia 🧫

Amgen Inc. (AMGN)

Biological Products, (No Diagnostic Substances) · market cap $182.2B · as of 2026-06-23

Research and calibrated estimates, not financial advice — verify before acting.

Next catalyst

2026-07-02 (est.)

Phase 2

Pipeline

programs

Upcoming events

next 90d+

Dossier

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Amgen Inc. (AMGN) is a large-cap multinational biopharmaceutical company with $36.8B in 2025 revenue and a $182B market cap, operating across oncology, inflammation, bone health, and nephrology. Its lead pipeline catalyst is tarlatamab, a DLL3xCD3 BiTE antibody in Phase 3 for small cell lung cancer with orphan, fast-track, and breakthrough designations. The company carries significant net debt of ~$50.7B, likely reflecting the 2023 Horizon Therapeutics acquisition, but generates substantial free cash flow to service it.

The catalyst path

2026-07-02 (est.)Phase 2 · AMG 193imp 7/10
2026-08-04Earningsimp 5/10
2026-09-02 (est.)Phase 3 · Dazodalibepimp 9/10
2026-10-22 (est.)Phase 3 · Dazodalibepimp 9/10
2026-12-14 (est.)Phase 3 · ABP 234imp 9/10
2026-12-30 (est.)Phase 2 · Tarlatamabimp 7/10
2027-01-15 (est.)Phase 3 · Ocrelizumab (US)imp 9/10
2027-01-21 (est.)Phase 3 · Maridebart cafraglutideimp 9/10

Pipeline

Asset	Phase	Indication
Rozibafusp Alfa	Phase 2	Systemic Lupus Erythematosus (SLE)
Lumakras	Approved	KRAS G12C NSCLC
Tarlatamab	Phase 3	Small Cell Lung Cancer
AMG 509	Phase 1	Prostate Cancer
Etanercept Liquid	Phase 3	Rheumatoid Arthritis
AMG 162 / Denosumab	Phase 3	Breast Cancer
Darbepoetin alfa - 2.25 mcg/kg	Phase 3	Anemia
Etoposide	Phase 3	Small-cell Lung Cancer
ABP 206	Phase 3	Melanoma
Adecatumumab	Phase 2	Liver Metastases
AMG 531 (Romiplostim)	Phase 2	MDS
Apremilast tablet 20 mg	Phase 3	Ankylosing Spondyloarthritis
IV Bisphosphonates	Phase 2	Breast Cancer
50 mg Etanercept	Phase 3	Rheumatoid Arthritis
Epoetin alfa DT	Phase 3	Chronic Kidney Disease
Romosozumab	Phase 3	Postmenopausal Women With Osteoporosis
Abiraterone	Phase 3	Metastatic Castration-resistant Prostate Cancer
Lenalidomide	Phase 3	Relapsed Multiple Myeloma
Chemotherapy	Phase 3	Gastric Cancer
Darbepoetin alfa SC	Phase 2	Anemia

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Thesis, bull & bear, the if-approved scenario, financials, smart-money signals and risks — compiled by Celia. The catalyst path & pipeline above are free.

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Data from CatalystAlert (ClinicalTrials.gov, SEC EDGAR, openFDA, Financial Modeling Prep). Compiled by Celia. Not financial advice.