New York, Feb 1, 2026, 16:47 (ET) — Market closed
Amgen shares slipped roughly 0.3% to close at $341.88 on Friday, a small shift ahead of a hectic week for the stock following its decision to exit an eczema drug partnership. A recent filing revealed that Amgen will pull out of its collaboration with Kyowa Kirin Co., Ltd. on rocatinlimab, pending regulatory approvals.
Timing is crucial as the U.S. market reopens Monday, with investors focused on earnings, guidance, and management’s take on research priorities. Small portfolio moves can disappear quickly, yet pipeline discussions have been steering much of the daily action in big pharma stocks.
Rocatinlimab is under evaluation for atopic dermatitis, a chronic skin condition also called eczema. When a firm pulls back from a late-stage asset, it may ease spending pressures—but investors often demand a clear explanation for the move.
Kyowa Kirin announced its partnership with Amgen has ended following Amgen’s “strategic portfolio prioritization.” The company will now take back full control of the global rocatinlimab program, including all regulatory filings and commercial rights. Abdul Mullick expressed confidence in rocatinlimab’s potential, while Takeyoshi Yamashita described the data so far as showing a “generally favorable benefit–risk profile.” Regulatory submission is set for the first half of 2026. GlobeNewswire
Wall Street remains doubtful about OX40 drugs gaining traction against eczema, where Regeneron and Sanofi’s Dupixent dominates. Matt Phipps of William Blair flagged the side-effect profile as “a commercial challenge in treating chronic conditions like atopic dermatitis.” David Risinger from Leerink Partners said he was “not surprised” by Amgen’s move. BioPharma Dive
For Amgen investors, the key question is what’s next: how management shapes the growth story and if they signal more trimming of development projects. Pipeline updates, guidance, and any clues on spending control often carry as much weight as the headline figures.
Some factors won’t be visible just from a Friday close. The rocatinlimab exit depends on regulatory approvals, and the company’s forecast could shift dramatically if sales figures or expense projections miss their marks.
Amgen is set to report its fourth-quarter and full-year 2025 earnings on Tuesday, Feb. 3, after the U.S. market closes. A conference call with CEO Robert A. Bradway and other executives is scheduled for 4:30 p.m. ET.
