Agios Stock Sinks 23% as NVO's PKR Activator Meets Goal in SCD Study

Shares of Agios Pharmaceuticals AGIO declined sharply by 23% on Monday after Novo Nordisk NVO announced positive top-line data for its investigational drug, etavopivat, for the treatment of sickle cell disease (SCD).

The decline reflects growing investor concerns over Agios’ competitive position, as both companies are developing therapies for SCD that work through a similar mechanism—pyruvate kinase (PK) activation. Agios is developing its lead drug, mitapivat, as a potential treatment for SCD, while Novo Nordisk is evaluating etavopivat in the phase III HIBISCUS study for the same indication.