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Jun 30, 2024
Agios Q2 2024 Earnings Report
Agios reported second quarter 2024 financial results and business highlights.
Key Takeaways
Agios Pharmaceuticals reported PYRUKYND® net revenue of $8.6 million in Q2 2024 and announced a $905 million purchase agreement for vorasidenib royalty with Royalty Pharma. The company's cash, cash equivalents and marketable securities totaled $645.3 million as of June 30, 2024. They also reported positive topline data from Phase 3 ENERGIZE-T Study and expect to file sNDA based on ENERGIZE and ENERGIZE-T Studies by the end of 2024.
PYRUKYND® net revenue reached $8.6 million, a 5% sequential increase from Q1 2024.
A total of 201 unique patients have completed prescription enrollment forms for PYRUKYND®, representing a 7% increase over the first quarter of 2024.
Agios announced a $905 million purchase agreement with Royalty Pharma for vorasidenib royalty.
Topline data was reported in the Phase 3 ACTIVATE-KidsT study of mitapivat in children with PK deficiency.
Revenue by Segment
Forward Guidance
Agios expects to execute on key milestones and priorities by the end of 2024.
Positive Outlook
- File sNDA for mitapivat in thalassemia based on the positive results from the Phase 3 ENERGIZE and ENERGIZE-T trials (year-end).
- Complete enrollment in the Phase 3 portion of the RISE UP study of mitapivat (year-end).
- Dose first patient in Phase 2b study of tebapivat (AG-946) (mid-year).
- Potential approval of Servier’s vorasidenib for the treatment of IDH-mutant diffuse glioma.
- The FDA has assigned a PDUFA action date of August 20, 2024.
Historical Earnings Impact
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