Loading...
•
Sep 30, 2022
Agios Q3 2022 Earnings Report
Reported business highlights and financial results for Q3 2022, with net revenue of $3.5 million.
Key Takeaways
Agios Pharmaceuticals reported $3.5 million in net U.S. product revenue from sales of PYRUKYND® in Q3 2022. The company's cash, cash equivalents, and marketable securities were $1.0 billion as of September 30, 2022. Net loss from continuing operations was $81.7 million for the quarter.
Generated $3.5 million in U.S. net revenue from PYRUKYND® in Q3 2022.
Received positive CHMP opinion for PYRUKYND® in adults with Pyruvate Kinase (PK) Deficiency.
On track to meet year-end enrollment targets in PYRUKYND® Thalassemia and Sickle Cell Disease pivotal programs.
Strengthened company leadership with appointments of Cecilia Jones as Chief Financial Officer and Rahul Ballal and Cynthia Smith as Board Members.
Forward Guidance
Agios expects to execute on key milestones and priorities by the end of 2022, including regulatory decisions for PYRUKYND® in Europe and Great Britain, enrollment in thalassemia studies, and completion of enrollment in the sickle cell disease study.
Positive Outlook
- Receive EU and Great Britain regulatory decisions for PYRUKYND® in adults with PK deficiency.
- Enroll a meaningful portion of patients in the Phase 3 ENERGIZE and ENERGIZE-T studies of PYRUKYND® in not regularly transfused and regularly transfused adults with thalassemia, respectively.
- Complete enrollment in the Phase 2 portion of the RISE UP study of PYRUKYND® in adults with sickle cell disease.
- Present broad set of clinical and translational data at the 64th American Society of Hematology (ASH) Annual Meeting & Exposition.
- Cash, cash equivalents and marketable securities will enable the company to execute its operating plan through major catalysts and to cash-flow positivity without the need to raise additional equity.
Challenges Ahead
- Risks related to the impact of the COVID-19 pandemic on Agios’ business.
- Uncertainties related to Agios’ clinical trials and preclinical studies.
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...