$AGIO is pulling one of two of its rare anemia drugs, due to liver toxicity issues, and the shares are being ravaged as a result.
“Our commitment is to make a difference in the lives of patients with PKD deficiency. It’s fortunate that we have two assets and we’re looking forward to moving AG-348 forward. Obviously, we would have preferred not to have this happen but that’s part of drug development,” said Agios CEO David Schenkein
This stock, along with the entire biotech sector, has been a clown show all year. You can thank punishing healthcare costs for the pushback to this terrific industry.
Here are some of the notable underperformers in the drug space this year.
$ALNY -54%
$ENDP -74%
$HZNP -31%
$RARE -36%
$JUNO -57%
$OPHT -94%
$PCRX -59%
$VRX -86%
$VRTX -39%
$ALXN -38%
$NVO -37%
$REGN -31%
Of the major non levered biotech ETFs, $BBC has performed the worst — off by 35% for 2016.
$CELG is the partner with Agios for both drugs.
If you enjoy the content at iBankCoin, please follow us on Twitter
In other news, IBB green and VRX +3%
Plenty of green in biotech today. But that doesn’t erase the -35% losses.
Why Republicans suck: http://thereformedbroker.com/2016/12/13/every-unified-republican-government-ever-has-led-to-a-financial-crash/
I use to respect Josh Brown until he showed his true colors and became a butt hurt cry baby.
LOL. Get with the program, bennyhill. This here is a web site for people whose whole meaning of life is liberal bashing. Even though the GOP now controls all 3 branches of government, and liberals control nothing, these foks can’t be happy about it, or look forward to what wonderful things they think their leaders are about to do, or anything like that.
It would be like if your football team won the Super Bowl, and you weren’t happy about it at all, and you couldn’t do anything except bash the team that lost to them, 24/7/365.
The entire meaning of life of the GOP tribe seems to be to hate and bash liberals, and to point out their real and imagined flaws over and over again, while, of course, ignoring every flaw of the GOP.
At least we don’t beat up people and trash our cities like you scumbag low lives do!
Yes, all evils and flaws belong only to Left Wingers. And all virtues belong only to Right Wingers and Trump supporters. At least that is what your fake news channels tell you, right, Cancel Mouse?