We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Celgene/Agios Ink Deals with Abbott to Identify IDH Mutations
Read MoreHide Full Article
Celgene Corporation and Agios Pharmaceuticals, Inc. (AGIO - Free Report) announced that they have entered into collaboration agreements with Abbott Laboratories (ABT - Free Report) to develop and commercialize diagnostic tests to identify isocitrate dehydrogenase (IDH) mutations in patients with acute myeloid leukemia (AML).
The companies will use Abbott's m2000 RealTime System, a polymerase chain reaction (PCR) instrument that helps automate the PCR process to analyze results and simplify the complex and manual steps related to molecular diagnostics.
Celgene is developing an IDH2 inhibitor, enasidenib, for the treatment of patients with relapsed or refractory AML who have an IDH2 mutation. Currently, enasidenib is in a phase III study, IDHENTIFY, which is comparing the candidate with conventional therapy in older patients.
Agios is developing an IDH1 inhibitor, AG-120, for the treatment of patients with relapsed or refractory AML who have an IDH1 mutation.
We remind investors that Celgene had inked a discovery and development collaboration, and a license agreement with Agios focused on targeting cancer metabolism in Apr 2010. In May 2016, the collaboration agreement was amended, whereby Agios acquired full global development and commercialization rights to AG-120. Previously, Agios has held only the U.S. rights to AG-120.
The company has posted a positive earnings surprise in each of the four trailing quarters, bringing the average beat to 20.78%.
Confidential from Zacks
Beyond this Analyst Blog, would you like to see Zacks' best recommendations that are not available to the public? Our Executive VP, Steve Reitmeister, knows when key trades are about to be triggered and which of our experts has the hottest hand. Click to see them now>>
Unique Zacks Analysis of Your Chosen Ticker
Pick one free report - opportunity may be withdrawn at any time
Image: Bigstock
Celgene/Agios Ink Deals with Abbott to Identify IDH Mutations
Celgene Corporation and Agios Pharmaceuticals, Inc. (AGIO - Free Report) announced that they have entered into collaboration agreements with Abbott Laboratories (ABT - Free Report) to develop and commercialize diagnostic tests to identify isocitrate dehydrogenase (IDH) mutations in patients with acute myeloid leukemia (AML).
The companies will use Abbott's m2000 RealTime System, a polymerase chain reaction (PCR) instrument that helps automate the PCR process to analyze results and simplify the complex and manual steps related to molecular diagnostics.
Celgene is developing an IDH2 inhibitor, enasidenib, for the treatment of patients with relapsed or refractory AML who have an IDH2 mutation. Currently, enasidenib is in a phase III study, IDHENTIFY, which is comparing the candidate with conventional therapy in older patients.
CELGENE CORP Price
CELGENE CORP Price | CELGENE CORP Quote
Agios is developing an IDH1 inhibitor, AG-120, for the treatment of patients with relapsed or refractory AML who have an IDH1 mutation.
We remind investors that Celgene had inked a discovery and development collaboration, and a license agreement with Agios focused on targeting cancer metabolism in Apr 2010. In May 2016, the collaboration agreement was amended, whereby Agios acquired full global development and commercialization rights to AG-120. Previously, Agios has held only the U.S. rights to AG-120.
AGIOS PHARMACT Price
AGIOS PHARMACT Price | AGIOS PHARMACT Quote
According to information provided by the company, IDH1 and IDH2 mutations occur in approximately 20% of all AML patients.
Celgene currently carries a Zacks Rank #3 (Hold), while Agios is a Zacks Rank #4 (Sell) stock.
A Stock to Consider
Geron Corporation (GERN - Free Report) is a better-ranked stock in the health care sector, sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
The company has posted a positive earnings surprise in each of the four trailing quarters, bringing the average beat to 20.78%.
Confidential from Zacks
Beyond this Analyst Blog, would you like to see Zacks' best recommendations that are not available to the public? Our Executive VP, Steve Reitmeister, knows when key trades are about to be triggered and which of our experts has the hottest hand. Click to see them now>>