NEW YORK, Dec. 16, 2016 /PRNewswire/ -- Levi & Korsinsky, LLP announces that it has commenced an investigation of Agios Pharmaceuticals, Inc. ("Agios" or the "Company") (NASDAQ: AGIO) concerning possible violations of federal securities laws by the Company and/or certain of its officers and directors.
At the December 2016 American Society of Hematology meeting, Agios presented new data for its AG-519 molecule, which is in development for treatment of pyruvate kinase deficiency. Agios reported for AG-519 that after the data cut-off, one ongoing serious adverse event of drug related cholestatic hepatitis was reported after a dose of 300 mg. On December 5, 2016, following this news, Agios stock fell over 12% to close at $49.88. Then on December 15, 2016, Agios announced it will no longer develop AG-519, and withdrew its investigational new drug (IND) application following a verbal notification of a clinical hold from the U.S. Food and Drug Administration. Following this news, shares of Agios were down almost 20% on intraday trading on December 16, 2016. To obtain additional information about the investigation, go to: