Here's Why Shares in Novo Nordisk Rival, Agios Pharmaceutical, Soared This Week

Key Points

• Agios stock surged after FDA granted priority review for mitapivat in sickle cell disease.
• Mitapivat showed mixed Phase 3 results, and competition is coming from Novo Nordisk.
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Agios Pharmaceuticals(NASDAQ: AGIO) stock rose by 13.8% during the week through Friday morning. It's a move driven by the Food and Drug Administration's (FDA) announcement that it would grant priority review for Agios' key drug, an oral pyruvate kinase (PK) activator, mitapivat, in sickle cell disease (SCD).