Here's Why Shares in Novo Nordisk Rival, Agios Pharmaceutical, Soared This Week
An accelerated approval for Agios' key drug to treat sickle cell disease appears to be on the cards.
Overview
Agios Pharmaceuticals (NASDAQ: AGIO) stock rose by 13.8% during the week through Friday morning. It's a move driven by the Food and Drug Administration's (FDA) announcement that it would grant priority review for Agios' key drug, an oral pyruvate kinase (PK) activator, mitapivat, in sickle cell disease (SCD).
Mitapivat is already approved to treat PK deficiency and thalassemia in adults, and Agios is seeking approval as the first oral pyruvate kinase (PK) activator for sickle cell disease. PK activators work to improve the health of red blood cells and reduce sickle cell formation, resulting in a reduction in blood vessel blockages, anemia, and the sickle cell pain crises (SCPCs), events that create severe discomfort for sufferers.
Details
It's here where it gets a bit complicated. In November, management released mixed results from the Phase 3 RISE UP trial of mitapivat in SCD.
Source
Originally published at www.fool.com.