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Jun 30, 2023
Agios Q2 2023 Earnings Report
Reported business highlights and financial results for the second quarter ended June 30, 2023.
Key Takeaways
Agios Pharmaceuticals reported U.S. PYRUKYND® net revenue of $6.7 million in Q2 2023 and held $947 million in cash, cash equivalents, and marketable securities as of June 30, 2023. The company announced positive data from the Phase 2 portion of the RISE UP study of mitapivat in sickle cell disease and completed enrollment in three clinical studies.
Generated $6.7 million in U.S. net revenue for PYRUKYND® in Q2 2023, a 20% increase over Q1 2023.
Announced positive results from the Phase 2 portion of the RISE UP pivotal study of mitapivat in sickle cell disease.
Completed enrollment of the Phase 3 ENERGIZE and ENERGIZE-T studies of mitapivat in thalassemia.
Announced an exclusive worldwide license agreement with Alnylam Pharmaceuticals for a novel siRNA for the potential treatment of polycythemia vera.
Forward Guidance
Agios expects to execute on key milestones and priorities by the end of 2023.
Positive Outlook
- Enroll more than half of patients in the Phase 3 ACTIVATE-kids and ACTIVATE-kidsT studies of mitapivat.
- Enroll first patient in Phase 3 portion of RISE UP study of mitapivat, with the 100 mg dose selected from the successful Phase 2 portion.
- Announce data from the Phase 2a study of novel PK activator AG-946.
- File investigational new drug (IND) application for phenylalanine hydroxylase (PAH) stabilizer for the treatment of phenylketonuria (PKU).
Historical Earnings Impact
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Avg. Return Before/After Earnings
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