Agios Pharmaceuticals' Rare Blood Disorder Drug Misses Primary Goal In Pediatric Study, Stock Slides
Portfolio Pulse from Vandana Singh
Agios Pharmaceuticals' (NASDAQ: AGIO) stock dropped 4.87% after its Phase 3 ACTIVATE-KidsT study of mitapivat in children with PK deficiency failed to meet the primary endpoint. Despite some positive secondary outcomes, the study's results were not sufficient to meet the prespecified statistical criterion. The company also reported lower-than-expected sales and earnings for Pyrukynd.
August 01, 2024 | 5:42 pm
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NEGATIVE IMPACT
Agios Pharmaceuticals' stock dropped 4.87% after its Phase 3 ACTIVATE-KidsT study of mitapivat in children with PK deficiency failed to meet the primary endpoint. Despite some positive secondary outcomes, the study's results were not sufficient to meet the prespecified statistical criterion. The company also reported lower-than-expected sales and earnings for Pyrukynd.
The failure to meet the primary endpoint in a Phase 3 study is a significant setback for Agios Pharmaceuticals, especially given the importance of mitapivat for the company's future growth. Additionally, the company reported lower-than-expected sales and earnings, further contributing to the negative sentiment and stock price decline.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100