Agios pares loss after abandoning sickle cell asset tebapivat
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Agios Pharmaceuticals ( AGIO ) will end development of sickle cell disease drug tebapivat after the candidate did not demonstrate sufficient differentiation across three doses tested compared to placebo in a phase 2 trial. The drugmaker fell by as much as ~11% earlier in
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Agios Pharmaceuticals announced that it is halting the development of its sickle cell disease treatment candidate, tebapivat, after failing to demonstrate sufficient differentiation from placebo in a Phase 2 clinical trial. Due to this negative news, the stock experienced a major shock, plunging as much as 11% during intraday trading. Investors should focus on risk management, paying attention to the potential weakening of growth momentum following the failure of a core pipeline.
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- Biotechnology — Agios completely halted the development of tebapivat and its stock plunged 11%, highlighting clinical trial failure risks within the biotech sector.
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