NEW YORK, NY / ACCESSWIRE / December 16, 2016 /NASDAQ: AGIOrswilloughby@pomlaw.com or 888-476-6529, ext. 9980.
The investigation concerns whether Agios and certain of its officers and/or directors have violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.
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At the 2016 American Society of Hematology meeting (December 3-6, 2016), Agios presented new data for its AG-348 and AG-519 molecules, in development for treatment of pyruvate kinase deficiency. The Company stated that a case of Grade 2 thrombocytopenia (a reduction of platelets in blood cells) was reported in a patient receiving AG-519, and that an ongoing severe adverse event of drug-related cholestatic hepatitis was observed in a bioavailability and food effect study after a dose of 300 mg.
On this news, Agios stock fell as much $9.03, or 15.85%, to $47.94 on December 5, 2016.
On December 15, 2016, Agios announced it will no longer develop AG-519, and withdrew its investigational new drug application following a verbal notification of a clinical hold from the U.S. Food and Drug Administration.
On this news, Agios stock has fallen as much $11.04, or 19.74%, to $44.90 during intraday trading on December 16, 2016.
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SOURCE: Pomerantz LLP
ReleaseID: 451212
