August 31, 2014 4:51 AM ET

Biotechnology

Company Overview of Agios Pharmaceuticals, Inc.

Company Overview

Agios Pharmaceuticals, Inc., a biopharmaceutical company, focuses on the development and commercialization of therapeutics in the field of cancer metabolism and inborn errors of metabolism (IEMs) in the United States. Its product candidates include AG-221, an oral inhibitor of the mutated isocitrate dehydrogenase (IDH) 2 protein for the treatment of patients with cancers that harbor IDH2 mutations, as well as for the Type II D-2 hydroxyglutaric aciduria treatment; and AG-120, an oral inhibitor of the mutated IDH1 protein for the treatment of patients with cancers that harbor IDH1 mutations. The company is also developing AG-348, an oral small molecule activator of PKR enzyme for the treatmen...

38 Sidney Street

2nd Floor

Cambridge, MA 02139

United States

Founded in 2007

96 Employees

Phone:

617-649-8600

Key Executives for Agios Pharmaceuticals, Inc.

Chief Executive Officer and Director
Age: 57
Total Annual Compensation: $425.0K
Principal Financial Officer
Age: 43
Total Annual Compensation: $269.1K
Chief Operating Officer
Age: 59
Total Annual Compensation: $350.0K
Chief Scientific Officer
Age: 58
Total Annual Compensation: $376.0K
Compensation as of Fiscal Year 2013.

Agios Pharmaceuticals, Inc. Key Developments

Agios Pharmaceuticals, Inc. Announces Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2014

Agios Pharmaceuticals, Inc. announced unaudited consolidated earnings results for the second quarter and six months ended June 30, 2014. For the quarter, the company reported collaboration revenue was $8.4 million, compared to $6.3 million for the comparable period in 2013. The increase in collaboration revenue in the second quarter of 2014 was related to Celgene's December 2013 election to extend the discovery phase of the collaboration agreement through April 2015. Loss from operations was $18,330,000 compared to $8,526,000 for the same period last year. Loss before provision for income taxes were $18,296,000 compared to $8,521,000 for the same period last year. Net loss applicable to common stockholders were $18,296,000 compared to $10,418,000 for the same period last year. Net loss per share applicable to common stockholders - basic and diluted were $0.54 compared to $2.80 for the same period last year. For the six months, the company reported collaboration revenue was $16.8 million, compared to $12.5 million for the comparable period in 2013. Loss from operations was $30,614,000 compared to $15,572,000 for the same period last year. Loss before provision for income taxes were $30,544,000 compared to $15,559,000 for the same period last year. Net loss applicable to common stockholders were $30,544,000 compared to $19,443,000 for the same period last year. Net loss per share applicable to common stockholders - basic and diluted were $0.94 compared to $5.27 for the same period last year.

Agios Pharmaceuticals, Inc., Q2 2014 Earnings Call, Aug 07, 2014

Agios Pharmaceuticals, Inc., Q2 2014 Earnings Call, Aug 07, 2014

Agios Pharmaceuticals Inc. Announces Orphan Drug Designation of AG-221 for Treatment of Acute Myelogenous Leukemia

Agios Pharmaceuticals Inc. announced that the U.S. Food and Drug Administration has granted the company orphan drug designation for AG-221 for treatment of patients with acute myelogenous leukemia (AML). AG-221 is an oral, first-in-class IDH2 mutant inhibitor being evaluated in a Phase 1 clinical trial in patients with advanced hematologic malignancies that carry an IDH2 mutation. The FDA's Office of Orphan Drug Products grants orphan status to support development of medicines for underserved patient populations, or rare disorders, that affect fewer than 200,000 people in the U.S. Orphan drug designation provides to Agios and its collaborator Celgene certain benefits, including market exclusivity upon regulatory approval if received, exemption of FDA application fees and tax credits for qualified clinical trials. AML is a cancer of blood and bone marrow characterized by rapid disease progression, and is the most common acute leukemia affecting adults. AML incidence significantly increases with age, and according to the American Cancer Society, the median age is 66. Less than 10% of U.S. patients are eligible for bone marrow transplant, and the vast majority of patients do not respond to chemotherapy and progress to relapsed or refractory AML. The five-year survival rate for AML is approximately 20 to 25%. AML prevalence is estimated to be approximately 35,000 to 40,000 patients in the U.S., with approximately 15% of patients estimated to carry an IDH2 mutation.

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