Agios Pharmaceuticals Inc Stock Price, News & Analysis

Agios Pharmaceuticals reported a second-quarter revenue of $37.3 million, driven by $27.6 million in net sales of TIBSOVO®, a 22% sequential increase. The company maintains its 2020 revenue guidance for TIBSOVO® at $105–115 million. Significant clinical progress includes establishing proof-of-concept for mitapivat in sickle cell disease and planning pivotal studies in thalassemia. A $255 million royalty sale extends its cash runway to support ongoing developments through 2022.

Agios Pharmaceuticals (NASDAQ: AGIO) will host a conference call and webcast on July 30, 2020, at 8:00 a.m. ET to discuss its Q2 2020 financial results and other business highlights. Investors can access the live webcast via the company's website under the 'Events & Presentations' section. Agios focuses on developing novel therapies for cancer and rare genetic diseases, boasting two approved oncology medications and a robust pipeline of investigational therapies.

Agios Pharmaceuticals (NASDAQ: AGIO) announced its participation in the BMO 2020 Prescriptions for Success Healthcare Virtual Conference on June 23, 2020, at 9:00 a.m. ET. The presentation will highlight the company's advancements in cellular metabolism treatments for cancer and rare genetic diseases. Interested parties can view a live webcast on Agios's website under the 'Events & Presentations' section, with a replay available for two weeks post-event. Agios is known for its innovative investigational medicines and precision therapies in oncology.

Agios Pharmaceuticals (NASDAQ: AGIO) has sold its tiered royalty rights on worldwide net sales of IDHIFA^® to Royalty Pharma for $255 million. The agreement includes the potential for up to $55 million in regulatory milestone payments. Agios retains rights to co-promote IDHIFA^® and to receive a $25 million payment upon a specified milestone. This transaction provides Agios with non-dilutive funding for its clinical pipeline, including treatments for rare diseases and AML, enhancing financial flexibility.

Agios Pharmaceuticals announces preliminary results from a Phase 1 trial of mitapivat (AG-348) for sickle cell disease, establishing clinical proof-of-concept. Of the patients, 63% achieved a hemoglobin increase of ≥1.0 g/dL, while the safety profile aligns with previous studies. The trial involved nine patients, with six completing the planned doses. The results support moving mitapivat to pivotal development, with a pivotal study targeted for next year. Adverse events were consistent with the disease context, and all data related to the pharmacodynamics of the drug were favorable.

Agios Pharmaceuticals reported positive interim results from its Phase 2 study of mitapivat for treating non-transfusion-dependent α- and β-thalassemia. The study showed that 92% of evaluable patients experienced a hemoglobin (Hb) increase of ≥1.0 g/dL, including all α-thalassemia patients. Furthermore, 88% of β-thalassemia patients achieved sustained Hb responses. Agios plans to finalize a pivotal development plan by the end of 2020 and initiate trials in 2021, positioning mitapivat as a promising treatment option in an area with limited medical advancements.

Agios Pharmaceuticals (NASDAQ: AGIO) announced that the FDA granted orphan drug designation to mitapivat, their first-in-class pyruvate kinase-R (PKR) activator, for treating thalassemia. This designation supports the development of therapies for rare diseases affecting fewer than 200,000 U.S. patients. Agios plans to share updated Phase 2 study data at the upcoming European Hematology Association Annual Congress. Mitapivat targets non-transfusion-dependent β- and α-thalassemia and is also being studied for sickle cell disease. The drug remains investigational and is not yet FDA-approved.

Agios Pharmaceuticals has announced that clinical data for mitapivat and ivosidenib will be presented at the European Hematology Association (EHA) Annual Congress from June 11-14, 2020. Key presentations include interim results from a phase 2 study of mitapivat for non-transfusion-dependent thalassemia and results showing ivosidenib improves survival in mutant IDH1 acute myeloid leukemia (AML). A virtual investor event will also be held on June 12, 2020, to discuss these findings.

Agios Pharmaceuticals (NASDAQ:AGIO) announced its participation in the RBC Capital Markets Global Healthcare Virtual Conference on May 19, 2020, at 3:40 p.m. ET. A live webcast of the event will be available in the Investors section of Agios' website, with a replay accessible for two weeks post-event. The firm specializes in cellular metabolism to tackle cancer and rare genetic diseases, boasting a robust pipeline that includes two approved precision medicines and various investigational therapies. For further details, visit www.agios.com.