Updates

** Shares of drugmaker Agios Pharmaceuticals AGIO.O rise 16.2% to $28.58

** Stock is set for its best day since June 2024, if gains hold

** Company said late on Tuesday that the U.S. Food and Drug Administration has approved the expanded use of its drug for treatment of a type of blood disorder

** The drug, mitapivat, under brand name of Aqvesme, was approved for the treatment of anemia in adults with alpha- or beta-thalassemia

** The inherited condition affects the body's ability to produce hemoglobin and healthy red blood cells

** Mitapivat was approved by the U.S. FDA in 2022 to treat low red blood cell counts in adults with pyruvate kinase deficiency, under the brand name of Pyrukynd

** Truist Securities estimates peak revenue opportunity of $320 million in 2034, contributing to a potential franchise peak of nearly $1.4 billion

** Including session moves, stock down 16.6% YTD

(Reporting by Siddhi Mahatole)

((siddhi.mahatole@thomsonreuters.com))