Biotech Agios Pharmaceuticals (AGIO) continued its selloff Monday as Canaccord Genuity lowered its price target based on skepticism about one of its cancer drugs. Agios stock dropped 10% Friday on AG-221 clinical-trial results, though investment bank Cowen & Co. said in a research report that the numbers were misinterpreted. In his report Monday, Canaccord analyst John Newman agreed with that, but focused his concern on a different project
Biotech Agios Pharmaceuticals (AGIO) on Friday reported positive early-stage data on a blood-cancer drug it’s developing with Celgene (CELG), but its stock tumbled more than 10% as the response rate seemed to miss investor expectations. Agios said that out of 158 patients with acute myeloid leukemia (AML) and other advanced blood cancers taking AG-221, the response rate (tumor shrinkage) was 40%, while 16% went into complete remission. Agios also
Shares of biotech startup Agios Pharmaceuticals (AGIO) soared 20% in the stock market today to a new high above 64 after it said it would report data from a key clinical trial earlier than expected, leading analysts to believe the news will be good. Agios said it will provide the first data from an ongoing phase one study of AG-120, a product it’s developing as a treatment for blood cancer, on Nov. 19 at a symposium in Barcelona. The trial started