Agios Pharmaceuticals Sheds Half Its Value On A Surprise Setback In Sickle Cell Treatment

Agios Pharmaceuticals (AGIO) stock shed about half its value Wednesday after the company’s sickle cell disease treatment lagged expectations in a Phase 3 study. Patients showed improvement in their hemoglobin levels — the red blood cell protein that’s abnormal in sickle cell disease. But Agios’ drug didn’t lead to a statistically significant improvement in the annualized rate of pain crises…