Agios' Focused Treatment Approach Nails Important Study For Possible FDA Approval

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About: Agios Pharmaceuticals, Inc. (AGIO)
by: Terry Chrisomalis
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Terry Chrisomalis
Long only, biotech, healthcare, short only
Summary

Agios Pharmaceuticals obtained positive results in its phase 3 study using Tibsovo in previously treated bile duct cancer patients with the IDH1 mutation.

Those treated with Tibsovo achieved a statistically significant improvement in median progression-free survival of 2.7 months, compared to only 1.4 months for those who took placebo.

Sales of Tibsovo reached $26.2 million in Q2 2019, which was a 50% increase from the prior quarter.

Agios had $624 million in cash as of June 30, 2019, which is expected to fund its operations through at least the end of 2020.

Agios Pharmaceuticals (AGIO) announced that it had obtained positive results in a phase 3 study treating patients with bile duct cancer. Specifically, these are patients who have the IDH1 mutation. The company obtained