Here’s Why Stanley Black & Decker, Celgene Corporation, and Three Other Stocks Are Trending Today

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Agios, Celgene Sign Agreements with Abbott

Shares of Agios Pharmaceuticals Inc (NASDAQ:AGIO) and Celgene Corporation (Nasdaq: CELG) are trending today after the companies announced collaboration agreements with diagnostics technology company Abbott (NYSE:ABT) to develop and commercialize companion diagnostic tests on Abbott’s m2000 RealTime System to identify isocitrate dehydrogenase (IDH) mutations in Acute Myeloid Leukemia (AML) patients. Celgene is currently working on an IDH2 mutant inhibitor for the treatment of patients with relapsed or refractory AML, while Agios is developing an IDH1 mutant inhibitor for the treatment of patients with relapsed or refractory AML. IDH1 and IDH2 mutations occur in about 20% of Acute Myeloid Leukemia patients. Abbott’s RealTime is able to automate PCR and results analysis, significantly simplifying the complex and manual steps often associated with molecular diagnostics. As of the end of the June quarter, 11 funds tracked by us were bullish on Agios Pharmaceuticals Inc (NASDAQ:AGIO), while 68 funds amassed shares of Celgene Corporation (Nasdaq: CELG).

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