** Shares of drugmaker Agios Pharmaceuticals AGIO.O fall 4.6% to $29.01 premarket

** Co says it will stop developing its experimental drug, tebapivat, for lower-risk myelodysplastic syndromes, a form of blood cancer, after a mid-stage trial failed to show enough benefit

** Lower-risk myelodysplastic syndromes are blood disorders that can cause anemia, often requiring blood transfusions

** Co says the drug showed some activity but did not help enough patients to justify further development in this use

** AGIO says it will continue testing tebapivat in sickle cell disease, with mid-stage data expected in H2 2026

** As of last close, AGIO up 11.8% YTD