Sickle cell drug developers rise after Pfizer withdraws its treatment

Fulcrum Therapeutics

26/09/2024 15:36

** Shares of Agios Pharmaceuticals  AGIO.O  rise ~3% to
$50.29; Fulcrum Therapeutics  FULC.O  up ~20% at $4.15        
    ** Larger rival Pfizer  PFE.N  withdraws its sickle cell
disease drug, Oxbryta, from all approved markets, citing risks
of a painful complication and death
    ** Sickle cell disease is an inherited blood disorder that
affects the hemoglobin in red blood cells
    ** Analysts expect the withdrawal to help foster enrollment
for trials of rival sickle cell drugs, such as Agios' mitapivat
and Fulcrum's pociredir
    ** "We expect this will increase attention and urgency for
the clinical development of mitapivat," according to Piper
Sandler analysts
    ** Leerink Partners analysts say Oxbryta's withdrawal could
have a positive influence on the enrollment of FULC's
early-stage study, especially among patients who are on or have
been on Oxbryta alone
    ** Including session's gains, AGIO shares more than doubled
and FULC stock is down YTD

 (Reporting by Mariam Sunny in Bengaluru)
 ((Mariam.ESunny@thomsonreuters.com;))