Agios' drug could have similar outcome as Pfizer's sickle cell treatment, says Leerink

Agios Pharmaceuticals

27/09/2024 14:53

(Updates)
    ** Brokerage Leerink says Agios Pharmaceuticals'  AGIO.O 
experimental drug mitapivat could have similar physiological
effects as Pfizer's  PFE.N  sickle cell disease treatment
Oxbryta
    ** Agios' shares down ~8.5% at $44.02
    ** On Wed, Pfizer withdrew Oxbryta from all markets where it
is approved, citing risks of a painful complication and death
    ** Leerink analyst Andrew Berens says withdrawal could be an
opportunity for Agios if the ongoing late-stage trial for
mitapivat is successful
    ** However, risk of a similar outcome as Pfizer's drug could
remain an overhang to Agios' shares, says Berens
    ** Pfizer said Oxbryta trial data showed an imbalance in
vaso-occlusive crises, a complication where blood flow gets
blocked
    ** Five of 8 brokerages rate Agios "buy" or higher and 3
"hold"; their median PT is $56 - LSEG data
    ** Stock up more than double YTD

    

 (Reporting by Christy Santhosh)
 ((Christy.Santhosh@thomsonreuters.com))