Agios amends follow-on

Agios Pharmaceuticals Inc. (NASDAQ:AGIO) said it now plans to sell 2 million shares in a follow-on underwritten by JPMorgan; Goldman Sachs; Cowen; and Leerink. If sold at Agios' close of $48.42 on April 9, before the company proposed to raise up to $75 million in the offering, Agios would raise $96.8 million.

Agios' two most advanced programs are AG-221, an inhibitor of mutated isocitrate dehydrogenase 2 (IDH2), and AG-120, an inhibitor of mutated IDH1. Both are in Phase I testing. Celgene Corp. (NASDAQ:CELG) has the exclusive option to license worldwide rights to AG-221 and ex-U.S. rights to AG-120 at the end of Phase I testing. Earlier this month, Agios also started Phase I testing of AG-348 to treat pyruvate kinase deficiency, a rare form of hereditary hemolytic anemia. AG-348 is an oral small molecule activator of pyruvate kinase R. ...