Marc Lehman has raised concerns about Amgen's $AMGN (+0.51%) weight-loss drug, AMG 133 (maridebart cafraglutide), currently in preclinical and Phase 1 trials. According to the report, AMG 133 is a bispecific molecule targeting obesity by combining a GIPR antagonist with GLP-1 agonist peptides. Early trials show promising weight loss and metabolic improvements, with Phase 1 data showing prolonged weight reduction in obese participants. However, questions remain regarding Amgen’s broader obesity strategy and potential competition in the incretin-based therapeutic market.