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News Breaks
January 15, 2014
12:00 EDTAGIOAgios Pharmaceuticals rises 23.4%
Agios Pharmaceuticals is up 23.4%, or $8.33, to $43.91
News For AGIO From The Last 14 Days
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April 17, 2014
08:04 EDTAGIOAgios initiates AG-348 Phase 1 study
Agios Pharmaceuticals announced dose administration of AG-348 in a Phase 1 study in healthy volunteers. AG-348 is an orally available, potent, selective small molecule activator of pyruvate kinase-R, a metabolic enzyme, which, when mutated, leads to pyruvate kinase deficiency, a rare, inherited hemolytic anemia. AG-348 is wholly owned by Agios, with the company maintaining full worldwide development and commercialization rights. The company said, “Preclinical studies have demonstrated that AG-348 activates a broad spectrum of PK-R mutant proteins, and corrects the metabolic defects found in patient-derived blood samples. These data support the hypothesis that drug intervention with AG-348 will restore glycolytic pathway flux and normalize red blood cell metabolism. Because AG-348 directly targets the underlying disease, it has the potential to be an important treatment option for patients with PK deficiency.”
April 10, 2014
09:00 EDTAGIOAgios Pharmaceuticals falls 5%
Agios Pharmaceuticals is down 5%, or $2.42, to $46.00
06:16 EDTAGIOAgios Pharmaceuticals files to sell $75M in common stock
JPMorgan and Goldman are acting as joint booking running managers for the offering.
April 7, 2014
12:00 EDTAGIOAgios Pharmaceuticals rises 26.1%
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10:19 EDTAGIOAgios surges after blood cancer drug shows 'promising activity'
Shares of biopharmaceutical company Agios Pharmaceuticals (AGIO) are rising after the company reported that its blood cancer drug, AG-221, showed "promising clinical activity." WHAT'S NEW: Yesterday, Agios announced that it presented preliminary data from its lead, first-in-class program AG-221. The preliminary findings demonstrated the clinical activity, tolerability and unique mechanism of action of AG-221 in patients with advanced hematologic malignancies with an isocitrate dehydrogenase-2, or IDH2, mutation. The company said, "This is the first clinical trial of an inhibitor of mutant IDH, and while the primary objectives of this study are to determine the safety and tolerability of AG-221, we were also able to demonstrate promising clinical activity, including multiple complete remissions, in patients whose blood cancers carried an IDH2 mutation, even at the lowest tested dose. The treatment has been well tolerated to date, and as we have not yet achieved the maximum tolerated dose, the study continues to enroll patients." ANALYST REACTION: Today, JPMorgan upgraded Agios to Overweight from Neutral citing a declined risk profile following the company's "robust" interim phase 1 data on AG-221. The firm raised its price target for shares to $55 from $40. Analyst Geoff Meacham said that the new AG-221 data comprises the first clinical trial data to support what JPMorgan had already considered to be "very strong science" at the biopharaceutical company. He noted that the data was well ahead of expectations since six out of seven evaluated patients achieved a clinical response, with the majority of those being complete responses. Meacham said the firm is introducing AG-221 revenue models by projecting that the agent could peak at $1B globally, which increases the firm's estimate for Agios' total cancer program to over $3B in peak sales. PRICE ACTION: During morning trading, shares of Agios Pharmaceuticals jumped $7.82 or 22.04% to $43.30.
10:00 EDTAGIOOn The Fly: Analyst Upgrade Summary
Agios Pharmaceuticals (AGIO) upgraded to Overweight from Neutral at JPMorgan... Alcoa (AA) upgraded to Hold from Sell at Deutsche Bank... Align Technology (ALGN) upgraded to Outperform from Market Perform at Barrington... Analog Devices (ADI) upgraded to Neutral from Sell at Goldman... B&G Foods (BGS) upgraded to Outperform from Sector Perform at RBC Capital... Citigroup (C) upgraded to Neutral from Underweight at HSBC... Intel (INTC) upgraded to Outperform from Sector Perform at Pacific Crest... JetBlue (JBLU) upgraded to Neutral from Sell at Goldman... Kindred Healthcare (KND) upgraded to Outperform from Sector Perform at RBC Capital... Lennox (LII) upgraded to Outperform from Market Perform at Wells Fargo... Newmont Mining (NEM) upgraded to Hold from Sell at Deutsche Bank... PBF Energy (PBF) upgraded to Buy from Neutral at Citigroup... Renasant (RNST) upgraded to Outperform from Market Perform at Raymond James... Select Medical (SEM) upgraded to Outperform from Sector Perform at RBC Capital... Ultra Petroleum (UPL) upgraded to Outperform from Market Perform at Raymond James... Under Armour (UA) upgraded to Buy from Neutral at Sterne Agee... Hercules Technology (HTGC) upgraded to Buy from Hold at Sandler ONeill... Standard Pacific (SPF) upgraded to Outperform from Market Perform at Raymond James... Yelp (YELP) upgraded to Outperform from Perform at Oppenheimer... Netflix (NFLX) upgraded to Outperform from Perform at Oppenheimer... Pandora (P) upgraded to Outperform from Neutral at Wedbush.
09:10 EDTAGIOOn The Fly: Pre-market Movers
HIGHER: Questcor (QCOR), up 27% after agreeing to be bought by Mallinckrodt (MNK) for cash, stock valued at $86.10 per Questcor share... Agios Pharmaceuticals (AGIO), up 25% after program shows "promising clinical activity" for advanced blood cancers, shares upgraded at JPMorgan... Vocus (VOCS), up 47% after agreeing to be acquired by GTCR for $446.5M, or $18.00 per share... Pandora (P), up 1.3% following upgrade at Wedbush. LOWER: MannKind (MNKD), down 13% after announcing FDA extension of PDUFA date for Afrezza... American Eagle (AEO), down 2.2% following downgrade at Cowen... Pfizer (PFE), down 2.8% after announcing data for palbociclib in metastatic breast cancer... Mattel (MAT), down 3% following downgrade at BMO Capital... WWE (WWE), down 1.2% after cautious mention in Barron's, company announcing WrestleMania 30 grossed $10.9M.
05:47 EDTAGIOAgios Pharmaceuticals upgraded to Overweight from Neutral at JPMorgan
JPMorgan upgraded Agios Pharmaceuticals to Overweight citing a declined risk profile following the company's "robust" interim phase 1 data on AG-221. The firm raised its price target for shares to $55 from $40.
April 6, 2014
13:28 EDTAGIOAgios' AG-221 shows 'promising clinical activity' for advanced blood cancers
Agios Pharmaceuticals announced that data from its lead, first-in-class program AG-221 will be presented today at a Clinical Trials Symposium titled “Novel Immune and Targeted Therapies for Hematological Malignancies and Solid Tumors” at the American Association for Cancer Research, AACR, Annual Meeting 2014. These preliminary data demonstrate the clinical activity, tolerability and unique mechanism of action of AG-221 in patients with advanced hematologic malignancies with an isocitrate dehydrogenase-2, IDH2, mutation. “This is the first clinical trial of an inhibitor of mutant IDH, and while the primary objectives of this study are to determine the safety and tolerability of AG-221, we were also able to demonstrate promising clinical activity, including multiple complete remissions, in patients whose blood cancers carried an IDH2 mutation, even at the lowest tested dose,” said Eytan Stein, M.D., lead investigator and assistant attending physician in the leukemia service at Memorial Sloan-Kettering Cancer Center. “The treatment has been well tolerated to date, and as we have not yet achieved the maximum tolerated dose, the study continues to enroll patients.”

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