Amgen said on Wednesday there was no link between its experimental weight-loss drug and changes in bone density, a day after those concerns wiped off more than $12 billion from the company's market value.

After a research note raised potential safety concerns with Amgen's lead obesity candidate, the company defended its drug and has asked the journal to issue a correction and add in the finalized data.

Analysts cited data from a phase one study showing the highest dose of Amgen's MariTide was linked to roughly 4% loss of bone mineral density over 12 weeks.

Amgen addresses safety concerns for its weight loss drug MariTide after new data suggests a potential 4% reduction in bone density at the highest dose.

Amgen (AMGN) stock spiked after the company ruled out out bone density concerns linked to obesity drug MariTide, following a recent share price decline. Read more here.