CRISPR, bluebird stocks slide as Agios rallies on thalassemia study (NASDAQ:AGIO)

Shares of CRISPR (NASDAQ:CRSP) and bluebird bio (NASDAQ:BLUE) were trading significantly lower Wednesday afternoon after Agios Pharmaceuticals (NASDAQ:AGIO) announced positive Phase 3 results for its oral drug Pyrukynd, also known as mitapivat, in the treatment of non-transfusion dependent alpha- or beta-thalassemia.

CRISPR and partner Vertex Pharmaceuticals (VRTX) have applied for FDA approval of their gene therapy Casgevy for the treatment of transfusion-dependent beta-thalassemia, or TDT. Casgevy was recently approved by the FDA for sickle cell anemia.

The FDA approved bluebird’s gene therapy Zynteglo in 2022 for the treatment of patients with beta-thalassemia who require regular transfusions.

Shares of CRISPR were down 5% at around 1:30 p.m. ET Wednesday, while bluebird shares retreated 4% and Vertex shares slipped 1%.

Agios shares were up 9% in the wake of news that the Phase 3 study for Pyrukynd met its primary endpoint.