Stock Watch: Agios Pharma Rises On Positive Cholangiocarcinoma Trial Data

(RTTNews) - Shares of Agios Pharmaceuticals Inc. (AGIO) rose more than 18% in extended trading on Wednesday, following positive results from its global phase III trial of TIBSOVO in previously treated cholangiocarcinoma patients with an isocitrate dehydrogenase 1 (IDH1) mutation.

Cholangiocarcinoma is a group of cancers that begin in the bile ducts. (Source: NIH). Advanced cholangiocarcinoma is a life-threatening disease with no currently approved treatment options.

In the phase III trial, dubbed ClarIDHy, treatment with TIBSOVO demonstrated a statistically significant improvement in progression-free survival compared with patients who received placebo.

TIBSOVO was approved by the FDA for the treatment of acute myeloid leukemia (AML) with a susceptible isocitrate dehydrogenase-1 (IDH1) mutation in last July. The drug generated $13.84 million of net product revenue from U.S. sales of TIBSOVO in 2018.

The Company plans to submit a supplemental new drug application for TIBSOVO in previously treated IDH1 mutant cholangiocarcinoma by the end of 2019.

AGIO closed Wednesday's trading at $47.35, down 1.00%. In after-hours, the stock was up 18.80% to $56.25.