$AGIO

AGIOS PHARMACEUTICALS INC

CIK:0001439222|SEC Filings

Condensed Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Revenues:
Total revenue	$ 44,745	$ 12,455	$ 65,491	$ 21,181
Operating expenses:
Cost of sales	2,996	1,702	4,315	2,787
Research and development	100,754	91,940	181,902	164,683
Selling, general and administrative	51,547	45,869	99,851	87,396
Total operating expenses	155,297	139,511	286,068	254,866
Loss from operations	(110,552)	(127,056)	(220,577)	(233,685)
Interest income, net	9,730	14,513	20,525	30,600
Other income, net	119	523	238	1,776
Net loss	$ (100,703)	$ (112,020)	$ (199,814)	$ (201,309)
Net loss per share - basic (in usd per share)	$ (1.69)	$ (1.93)	$ (3.38)	$ (3.49)
Net loss per share - diluted (in usd per share)	$ (1.69)	$ (1.93)	$ (3.38)	$ (3.49)
Weighted-average number of common shares used in computing net loss per share – basic (in shares)	59,488,871	57,932,576	59,137,508	57,697,193
Weighted-average number of common shares used in computing net loss per share – diluted (in shares)	59,488,871	57,932,576	59,137,508	57,697,193
Product revenue, net
Revenues:
Total revenue	$ 44,745	$ 12,455	$ 65,491	$ 21,181

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Operating activities
Net loss	$ (199,814)	$ (201,309)
Adjustments to reconcile net loss from operations to net cash used in operating activities:
Depreciation and amortization	2,713	2,537
Stock-based compensation expense	31,482	26,051
Net accretion of discount on marketable securities	(2,271)	(3,768)
Loss on disposal of property and equipment	0	5
Non-cash operating lease expense	6,579	6,094
Expense associated with license agreement	25,000	10,000
Realized gain on investments	(95)	(2)
Changes in operating assets and liabilities:
Accounts receivable, net	(9,535)	(877)
Inventory	2,768	(3,232)
Contract assets	(4,104)	0
Prepaid expenses and other current and non-current assets	(7,344)	(3,746)
Accounts payable	(1,913)	1,084
Accrued expenses and other current liabilities	(10,812)	(11,572)
Income taxes payable	0	(871)
Operating lease liabilities	(9,036)	(8,228)
Other non-current liabilities	150	(779)
Net cash used in operating activities	(176,232)	(188,613)
Investing activities
Purchases of marketable securities	(299,753)	(305,700)
Proceeds from maturities and sales of marketable securities	508,256	508,894
Payments associated with license agreement	(25,000)	(10,000)
Purchases of property and equipment	(1,981)	(1,641)
Net cash provided by investing activities	181,522	191,553
Financing activities
Net proceeds from stock option exercises and employee stock purchase plan	5,227	1,684
Net cash provided by financing activities	5,227	1,684
Net change in cash and cash equivalents	10,517	4,624
Cash and cash equivalents at beginning of the period	89,130	76,247
Cash and cash equivalents at end of the period	99,647	80,871
Supplemental disclosure of non-cash investing and financing transactions
Additions to property and equipment in accounts payable	186	122
Exchanges of marketable securities	2,229	0
Net cash taxes paid	$ 74	$ 1,503

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Current assets:
Cash and cash equivalents	$ 99,647	$ 89,130
Marketable securities	517,929	765,295
Accounts receivable, net	20,112	10,577
Inventory	30,152	32,920
Contract assets	4,104	0
Prepaid expenses and other current assets	45,724	44,130
Total current assets	717,668	942,052
Marketable securities	347,254	310,013
Operating lease assets	23,875	30,454
Property and equipment, net	9,946	10,775
Other non-current assets	9,681	3,931
Total assets	1,108,424	1,297,225
Current liabilities:
Accounts payable	16,345	18,355
Accrued expenses	34,647	45,459
Operating lease liabilities	19,225	18,392
Total current liabilities	70,217	82,206
Operating lease liabilities, net of current portion	11,946	21,815
Other non-current liabilities	240	90
Total liabilities	82,403	104,111
Stockholders’ equity:
Preferred stock, $0.001 par value; 25,000,000 shares authorized; no shares issued or outstanding at June 30, 2026 and December 31, 2025	0	0
Common stock, $0.001 par value; 125,000,000 shares authorized; 75,821,241 shares issued and 59,604,830 outstanding at June 30, 2026, and 74,665,003 shares issued and 58,448,592 outstanding at December 31, 2025	76	75
Additional paid-in capital	2,591,745	2,555,037
Accumulated other comprehensive (loss) income	(1,795)	2,193
Accumulated deficit	(761,519)	(561,705)
Treasury stock, at cost (16,216,411 shares at June 30, 2026 and December 31, 2025)	(802,486)	(802,486)
Total stockholders’ equity	1,026,021	1,193,114
Total liabilities and stockholders’ equity	$ 1,108,424	$ 1,297,225