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Sep 30, 2024
Agios Q3 2024 Earnings Report
Agios reported a strong quarter with advancements in its pipeline and a strengthened cash position.
Key Takeaways
Agios Pharmaceuticals reported a net income of $947.9 million for Q3 2024, driven by milestone and royalty agreement income. PYRUKYND® net revenue was $9.0 million, and the company's cash, cash equivalents, and marketable securities reached $1.7 billion.
Completed enrollment of the Phase 3 RISE UP study of mitapivat in sickle cell disease, with topline data expected in late 2025.
Received $1.1 billion in payments from Royalty Pharma and Servier following FDA approval of vorasidenib.
Commenced enrollment of the Phase 2b study of tebapivat in lower-risk Myelodysplastic Syndromes (LR-MDS) and was granted FDA Orphan Drug Designation for treatment of MDS.
PYRUKYND® generated $9.0 million in net revenue, a 4% increase from the previous quarter.
Revenue by Segment
Forward Guidance
Agios anticipates filing an sNDA for mitapivat in thalassemia and presenting additional clinical data at the ASH Congress by the end of 2024.
Positive Outlook
- Filing sNDA for mitapivat in thalassemia based on positive Phase 3 trial results.
- Presenting additional clinical data at the American Society of Hematology (ASH) Congress in December.
- Preparing for potential PYRUKYND® launches in thalassemia and sickle cell disease.
- Advancing existing clinical programs.
- Opportunistically expanding its pipeline through internal and external assets.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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