Agios Pharmaceuticals reports Q2 EPS ($1.69), consensus ($1.60)

Reports Q2 revenue $8.6M, consensus $9.31M. Cash, cash equivalents and marketable securities as of June 30, 2024, were $645.3M vs. $806.4M as of December 31, 2023. Agios expects that its cash, cash equivalents and marketable securities together with anticipated product revenue, interest income and payments upon FDA approval of vorasidenib, will provide the financial independence to prepare for potential Pyrukynd launches in thalassemia and sickle cell disease, and to opportunistically expand our pipeline through both internally and externally discovered assets. “Based on the positive data generated in the Phase 3 ENERGIZE and ENERGIZE-T studies, mitapivat is the first therapy to demonstrate efficacy in all subtypes of thalassemia, and we look forward to filing for FDA review by the end of the year,” said CEO Brian Goff. “…We continue to make significant progress toward our vision of becoming a leading rare disease company with a potential multi-billion-dollar franchise in PK activation. Finally, we were pleased to bolster our cash position through a purchase agreement with Royalty Pharma for our vorasidenib royalty, with Agios now positioned to receive a total of $1.1B in payments upon FDA approval of vorasidenib.”