ArcelorMittal SA (ADR)(NYSE:MT) stock dropped -5.10% in today’s pre market session with the price of $5.02. Over the last one month and over the past three months, ArcelorMittal shares gained 7.30% and 0.76%, respectively. Furthermore, the stock has gained 25.36% since the start of this year. The company’s shares are trading 3.77% above their 50-day moving average. Additionally, ArcelorMittal has an RSI of 55.40 and beta of 2.72.
May 19, 2016, ArcelorMittal announced the launch of its tender offer to purchase for cash any and all of its outstanding 9.850% Notes due June 1, 2019 (CUSIP 03938LAM6/ ISIN US03938LAM63) (the “Notes”) on the terms and subject to the conditions set out in the offer to purchase dated May 11, 2016 (the “Offer to Purchase”) and the Notice of Guaranteed Delivery. The Offer expired at 5:00 p.m., New York City time, on May 18, 2016 (the “Expiration Time”).
Agios Pharmaceuticals Inc(NASDAQ:AGIO) stock on Friday’s pre market session gained 9.23% at price of $54.99. Over the last one month and the previous three months, Agios Pharmaceuticals Inc’s shares gained 11.76% and 26.16%, respectively. Additionally, the stock has dropped -22.44% since the beginning of 2016. The company’s shares are trading above their 20-day and 200-day moving averages by -5.47% and -12.54%, respectively.
Agios Pharmaceuticals, Inc. (AGIO) June 9, 2016 announced the initial data from the Phase 1 integrated single ascending dose (SAD) and multiple ascending dose (MAD) clinical trial of AG-519 in healthy volunteers at the 21st Congress of the European Hematology Association (EHA) taking place June 9-12, 2016 in Copenhagen. These data provide early proof-of-mechanism for AG-519, a potent, oral, selective second pyruvate kinase-R (PKR) activator that is wholly owned by Agios. Agios is also developing AG-348, a first-in-class, oral PKR activator that is being evaluated in an ongoing Phase 2 study, DRIVE-PK.
In this Phase 1 study, dosing of AG-519 over 14-days in healthy volunteers resulted in a dose-dependent increase in PKR activity as evidenced by a substantial increase in ATP (adenosine triphosphate) and decrease in 2,3-DPG (2,3-diphosphoglycerate) levels, which are important biomarkers of PKR activation in healthy volunteers. These data support the hypothesis that AG-519 enhances PKR activity and has the potential to correct the underlying defect of pyruvate kinase (PK) deficiency, a rare, potentially debilitating, congenital anemia.
“Achieving proof-of-mechanism for AG-519, our second PKR activator, further advances Agios’ novel approach to the treatment of rare metabolic disorders,” said Chris Bowden, M.D., chief medical officer of Agios. “These Phase 1 data from AG-519 bring us closer to our goal of delivering the first disease-modifying treatment for patients with PK deficiency.”
Results from the Completed SAD Portion of the Phase 1 Study
Four cohorts with doses of AG-519 ranging from 50 mg to 1250 mg were tested against placebo in 32 healthy volunteers.
AG-519 demonstrated a favorable safety profile in all doses tested. There were no serious adverse events (SAEs) reported, with all adverse events (AEs) being mild to moderate, and the most common being headache. In addition, there were no early discontinuations due to AG-519 and the maximum tolerated dose was not reached.
Mean decreases in blood 2,3-DPG levels up to 43 percent from baseline were observed in the SAD cohorts, reaching minimum levels after 24 hours. As expected, ATP levels did not change after a single dose of AG-519, consistent with SAD findings from AG-348. Healthy volunteers receiving placebo showed no changes in 2,3-DPG or ATP levels.