Ebb & Flow

Amgen Inc. got its biggest one-day pop in four years on last week's positive Phase III data for denosumab to prevent skeletal-related events associated with breast cancer. The company announced the data after market close on Tuesday, and the next day Amgen shares climbed $7.27 (14%) to $59.38, adding $7.3 billion in market cap.

Achieving superiority in the trial drove the bounce, buysiders told Ebb & Flow. The primary endpoint was non-inferiority to Zometa zoledronic acid from Novartis AG (NYSE:NVS; SIX:NOVN), but denosumab was superior on the primary endpoint of time to the first on-study skeletal-related event (SRE)...