Agios Pharmaceuticals (AGIO) is set to discontinue development of tebapivat for lower-risk myelodysplastic syndromes after a phase 2b study failed to meet the company's threshold for further advancement, the company said on Friday.

The open-label trial evaluated three dose levels of the oral pyruvate kinase activator in 65 patients with lower-risk MDS and anemia, it said. The primary endpoint measured transfusion independence over eight consecutive weeks during a 24-week treatment period, it added.

Agios said tebapivat showed biological activity and was well tolerated, with no new safety concerns identified. However, the company said clinical benefit was not observed in enough patients to justify continued development in the indication, it added.

Shares of Agios more down more than 6% in recent premarket trading.