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Stock Updates: Ann Inc (NYSE:ANN), Alexion Pharmaceuticals, Inc. (NASDAQ:ALXN), Agios Pharmaceuticals Inc (NASDAQ:AGIO)

Stock Updates: Ann Inc (NYSE:ANN), Alexion Pharmaceuticals, Inc. (NASDAQ:ALXN), Agios Pharmaceuticals Inc (NASDAQ:AGIO)
Written by
Joel Najarian
Published on
October 15, 2014
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Ann Inc (NYSE:ANN), the women's apparel retailer last night confirmed it has signed a non-disclosure agreement with its largest institutional investor. The company last night said it has been providing non-public information to Golden Gate Capital, explaining that because of the private equity firm's experience with specialty retail chains "it would be beneficial to continue discussions on a more detailed basis."Golden Gate in March disclosed a 9.5% stake in ANN, at the time describing the company as well-managed and offering to help it boost its share price. Ann Inc (NYSE:ANN) shares jumped almost 13% after the Golden Gate ownership interest was revealed although the stock had since dropped under its price prior to the March 20 announcement. ANN shares were up about 4.5% at $38.44 apiece, climbing as high as $39.20 a share during the session. The stock has traded within a 52-week range of $30.71`to $43.61 a share, rising just more than 8% during the past 12 months heading into Wednesday's trade.Alexion Pharmaceuticals, Inc. (NASDAQ:ALXN) said it has submitted a new drug application for its asfotase alfa investigational enzyme replacement therapy for the treatment of hypophosphatasia to Japan's Ministry of Health, Labour and Welfare. HPP is a genetic, chronic and progressive ultra-rare metabolic disease that can lead to destruction and deformity of bones, profound muscle weakness, seizures, respiratory failure and premature death. The drug would be the first therapy for patients with this condition if approved. The U.S. Food and Drug Administration granted Breakthrough Therapy status to the drug in 2013 and the company initiated the rolling submission of a Biologics License Application in April 2014 in the U.S. The drug also is under accelerated assessment by the European Medicines Agency. Alexion Pharmaceuticals, Inc. (NASDAQ:ALXN) trades in the upper half of the 25-week range between $100.89 and $185.43.Agios Pharmaceuticals Inc (NASDAQ:AGIO) said it has begun four expansion cohorts in its ongoing Phase 1 study of AG-221, a selective, IDH2 mutant inhibitor targeting hematologic malignancies, including acute myelogenous leukemia. The company will provide an overview of this trial expansion at its Research and Development Day meeting today. "AG-221 is the first targeted investigational medicine to show clinical activity in patients with an IDH2 mutation, validating IDH2 as an important target for patients with AML and potentially other cancers," said CEO David Schenkein. Agios Pharmaceuticals Inc (NASDAQ:AGIO) shares are trading with a 52-week spread of $15.77 - $69.50.

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