Shares of Agios Pharmaceuticals, Inc. (AGIO) jumped over 13% on Monday morning after the company's phase 3 ENERGIZE-T study of Mitapivat met primary goal.
AGIO is currently trading at $41.33, up $4.99 or 13.73%, on the Nasdaq. The stock opened its trading at $36.87 after closing Friday at $36.34. The stock has traded between $19.80 and $42.07 in the past 52-week period.
Agios Pharmaceuticals' Phase 3 ENERGIZE-T study of mitapivat in adults with transfusion-dependent thalassemia achieved its primary endpoint of transfusion reduction response.
Thalassemia is an inherited blood disorder that causes the body to have less hemoglobin than normal.
In the Phase 3 study, patients were randomized to receive either mitapivat or placebo. 30.4 percent patients treated with mitapivat showed a statistically significant reduction in transfusion burden compared to 12.6 percent patients in the placebo arm. Treatment with mitapivat also demonstrated a statistically significant reduction in additional measures of transfusion reduction response compared to placebo.
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