Dec 24 (Reuters) - Shares of Agios Pharmaceuticals (AGIO) jumped 18% on Wednesday after the U.S. Food and Drug Administration approved the expanded use of its drug for the treatment of a type of blood disorder.
The drug mitapivat is now approved as a treatment for patients with anemia in both non-transfusion-dependent and transfusion-dependent alpha- or beta-thalassemia, the company said late on Tuesday.
Thalassemia is an inherited blood disorder affecting the body's ability to produce hemoglobin and healthy red blood cells.
The drug, under the brand name Aqvesme, is expected to be available in late January next year, following the implementation of the required safety program.
Mitapivat was already approved by the U.S. FDA in 2022 to treat low red blood cell counts in adults with pyruvate kinase deficiency, under the brand name of Pyrukynd.
"The approval unlocks an additional $320 million in peak revenue opportunity layered atop the existing mitapivat franchise," Truist analyst Gregory Renza said.
The latest approval is based on a late-stage study in which patients receiving mitapivat showed a statistically significant increase in hemoglobin response compared to those on placebo.
Aqvesme will carry a boxed warning for liver function tests every four weeks during the first 24 weeks of treatment and advises against use in patients with cirrhosis, Renza added.
(Reporting by Siddhi Mahatole in Bengaluru; Editing by Vijay Kishore)
Dr. Vinay Prasad's memo raises concerns about COVID-19 vaccines and pediatric mortality- The Most Vital Crossroads in Olympic History
- Which Film Has the Incomparable Melodic Score?
- Sheinelle Jones will cohost fourth hour of 'Today' with Jenna Bush Hager: Here's what to know about her
- Cyber Monday 2025: Save over 70% on HBO Max with this Prime Video streaming deal
- A hunger for new experiences Narratives: Motivating Travel and Experience
- The Main 20 Photography Instagram Records to Follow
- Foot fossil discovery could reshape human evolutionary history
- The most effective method to Decisively Use Open Record Rewards
