In This Story
Agios Pharmaceuticals Inc. (AGIO+4.19%) has filed its Form 10-K filing for the fiscal year ended December 31, 2024.
The filing details Agios's financial performance, noting a net income of $673.7 million for 2024, primarily due to the sale of the Vorasidenib Royalty Rights to Royalty Pharma and the receipt of the Vorasidenib Milestone Payment.
Agios reported total revenues of $36.5 million from product sales, driven by increased sales of PYRUKYND®, which is approved for the treatment of hemolytic anemia in adults with PK deficiency.
Research and development expenses totaled $301.3 million, reflecting ongoing investment in clinical trials for PYRUKYND® in additional indications, including thalassemia and sickle cell disease.
Agios is also developing tebapivat, a novel PK activator, and AG-181, a PAH stabilizer, alongside preclinical development of AG-236, an siRNA targeting the TMPRSS6 gene.
Operating expenses increased to $462.2 million, with selling, general, and administrative expenses rising to support the commercialization of PYRUKYND®.
The company holds cash, cash equivalents, and marketable securities totaling $1.5 billion as of December 31, 2024, and anticipates these funds will support future development and commercialization efforts.
Agios continues to focus on its strategic vision of advancing its rare disease portfolio and exploring potential partnership opportunities for PYRUKYND® outside the United States.
The filing also highlights the company's commitment to building a sustainable business through expertise in cellular metabolism and classical hematology.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Agios Pharmaceuticals Inc. annual 10-K report dated February 13, 2025. To report an error, please email earnings@qz.com.