Loading...
•
Dec 31, 2023
Agios Q4 2023 Earnings Report
Agios reported Q4 2023 financial results with PYRUKYND® U.S. net revenue of $7.1 million and cash, cash equivalents and marketable securities of $806.4 million.
Key Takeaways
Agios Pharmaceuticals reported fourth quarter 2023 financial results, including U.S. PYRUKYND® net revenue of $7.1 million and cash, cash equivalents and marketable securities of $806.4 million as of December 31, 2023. The company also announced positive results from the Phase 3 ENERGIZE study and presented positive results from the Phase 2 portion of the RISE UP pivotal study.
PYRUKYND® U.S. net revenue was $7.1 million in Q4 2023, a 4% decrease from Q3 2023.
Positive topline data was announced from the Phase 3 ENERGIZE study of mitapivat in non-transfusion-dependent thalassemia.
Positive results were presented from the Phase 2 portion of the RISE UP pivotal study of mitapivat in sickle cell disease.
Cash, cash equivalents, and marketable securities totaled $806.4 million as of December 31, 2023.
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 (mid-year).
- File 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 (year-end)
Challenges Ahead
- Risks and uncertainties related to the impact of pandemics or other public health emergencies to Agios’ business
- Uncertainty regarding any milestone or royalty payments related to the sale of its oncology business or its in-licensing of TMPRSS6 siRNA, and the uncertainty of the timing of any such payments
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...