Shares of Amgen (NASDAQ: AMGN) recently ticked lower despite a very positive-sounding press release regarding its weight management candidate. According to the giant drugmaker, treatment with an anti-obesity candidate called MariTide helped patients reduce their weight by up to 20% after 52 weeks.

Amgen stock crashed Tuesday after its weight-loss drug met Wall Street's expectations, but was only on par with Eli Lilly's Zepbound.

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.