Amgen said on Wednesday there was no link between its experimental weight-loss drug and changes in bone mineral density, a day after data from an early-stage study dragged its stock 7% lower.

Amgen has rebuffed claims made by an analyst suggesting that its obesity drug MariTide is associated with reductions in bone mineral density that could undermine its ability to compete in the fast-growing sector.

Amgen (NASDAQ:AMGN) shares spiked in the premarket on Wednesday after the company ruled out concerns over loss of bone mineral density linked to its obesity candidate MariTide, which led to a ~7% decline in its share price in the previous session.