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Mar 31, 2024
Agios Q1 2024 Earnings Report
Reported business highlights and financial results for the first quarter ended March 31, 2024.
Key Takeaways
Agios Pharmaceuticals reported PYRUKYND® net revenue of $8.2 million in Q1 2024, a 15% sequential increase from Q4 2023. They announced positive results from the Phase 3 ENERGIZE study of mitapivat in adults with non-transfusion-dependent alpha- or beta-thalassemia. Cash, cash equivalents, and marketable securities totaled $714.3 million as of March 31, 2024.
PYRUKYND® net revenue was $8.2 million in Q1 2024, a 15% increase sequentially.
Positive results were announced from the Phase 3 ENERGIZE study of mitapivat in adults with non-transfusion-dependent alpha- or beta-thalassemia.
Topline data readout from the Phase 3 ENERGIZE-T study of Mitapivat in Adults with Transfusion-Dependent Alpha- or Beta-Thalassemia now expected in Q2 2024.
Cash, cash equivalents, and marketable securities were $714.3 million as of March 31, 2024.
Forward Guidance
Agios expects that its cash, cash equivalents and marketable securities together with anticipated product revenue, interest income and vorasidenib milestone will enable the company to fund its operating expenses and capital expenditures at least into 2026.
Positive Outlook
- Topline data from the Phase 3 ENERGIZE-T study of mitapivat in transfusion-dependent thalassemia (Q2).
- Filing for FDA approval of mitapivat in thalassemia (year-end).
- Complete enrollment in the Phase 3 portion of the RISE UP study of mitapivat (year-end).
- Complete enrollment in the Phase 3 ACTIVATE-kids study of mitapivat (mid-year).
- Report topline data from Phase 3 ACTIVATE kids-T study (now mid-year).
Historical Earnings Impact
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