10-Q Filing

AGIOS PHARMACEUTICALS, INC. CIK: 1439222 Q2 2015

Filing Information

Form Type	10-Q
Accession Number	`0001193125-15-283076`
Period End Date	20150630
Filing Date	20150807
Fiscal Year	2015
Fiscal Period	Q2
XBRL Instance	agio-20150630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 69 Income Statement 38 Cash Flow Statement 59 Comprehensive Income 12

Balance Sheet 69 line items

Line Item	Tag	Value	Unit	Period
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	25.00M	shares	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	25.00M	shares	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$108.25M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$14.03M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$72.53M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$71.56M	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Marketable securities	`AvailableForSaleSecuritiesDebtSecuritiesCurrent`	$328.03M	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Marketable securities	`AvailableForSaleSecuritiesDebtSecuritiesCurrent`	$297.26M	USD	Point-in-time
Collaboration receivable - related party	`DueFromRelatedPartiesCurrent`	$10.47M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Collaboration receivable - related party	`DueFromRelatedPartiesCurrent`	$6.49M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Tenant improvement and other receivables	`AccountsAndOtherReceivablesNetCurrent`	$2.33M	USD	Point-in-time
Tenant improvement and other receivables	`AccountsAndOtherReceivablesNetCurrent`	$5.28M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	125.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	125.00M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	37.40M	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$4.81M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	37.10M	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$4.60M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	37.10M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	37.40M	shares	Point-in-time
Refundable income taxes	`IncomeTaxesReceivable`	$3.84M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$359.55M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$390.15M	USD	Point-in-time
Marketable securities	`AvailableForSaleSecuritiesNoncurrent`	$64.24M	USD	Point-in-time
Marketable securities	`AvailableForSaleSecuritiesNoncurrent`	$125.38M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$19.33M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$6.39M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$590.00K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$660.00K	USD	Point-in-time
Total assets	`Assets`	$474.38M	USD	Point-in-time
Total assets	`Assets`	$491.90M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$11.07M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$8.91M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$11.58M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$14.03M	USD	Point-in-time
Deferred revenue - related party	`DeferredRevenueCurrent`	$22.61M	USD	Point-in-time
Deferred revenue - related party	`DeferredRevenueCurrent`	$35.69M	USD	Point-in-time
Deferred rent	`DeferredRentCreditCurrent`	$2.09M	USD	Point-in-time
Deferred rent	`DeferredRentCreditCurrent`	$310.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$45.20M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$61.09M	USD	Point-in-time
Deferred revenue, net of current portion - related party	`DeferredRevenueNoncurrent`	$2.73M	USD	Point-in-time
Deferred revenue, net of current portion - related party	`DeferredRevenueNoncurrent`	$9.39M	USD	Point-in-time
Deferred rent, net of current portion	`DeferredRentCreditNoncurrent`	$15.63M	USD	Point-in-time
Deferred rent, net of current portion	`DeferredRentCreditNoncurrent`	$3.72M	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred stock, $0.001 par value; 25,000,000 shares authorized; no shares issued or outstanding	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, $0.001 par value; 25,000,000 shares authorized; no shares issued or outstanding	`PreferredStockValue`	-	USD	Point-in-time
Common stock, $0.001 par value; 125,000,000 shares authorized; 37,401,576 and 37,100,513 shares issued and outstanding at June 30, 2015 and December 31, 2014, respectively	`CommonStockValue`	$37.00K	USD	Point-in-time
Common stock, $0.001 par value; 125,000,000 shares authorized; 37,401,576 and 37,100,513 shares issued and outstanding at June 30, 2015 and December 31, 2014, respectively	`CommonStockValue`	$37.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$607.71M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$591.33M	USD	Point-in-time
Accumulated other comprehensive income (loss)	`AccumulatedOtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax`	$-57.00K	USD	Point-in-time
Accumulated other comprehensive income (loss)	`AccumulatedOtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax`	$222.00K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-166.95M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-203.80M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$404.17M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$424.37M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$474.38M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$491.90M	USD	Point-in-time

Income Statement 38 line items

Line Item	Tag	Value	Unit	Period
Collaboration revenue - related party	`RevenueFromRelatedParties`	$13.22M	USD	1 Quarter
Cost reimbursement from related party	`ReimbursementOfResearchAndDevelopmentRelatedPartyCost`	$8.91M	USD	2 Qtrs
Cost reimbursement from related party	`ReimbursementOfResearchAndDevelopmentRelatedPartyCost`	$4.55M	USD	1 Quarter
Collaboration revenue - related party	`RevenueFromRelatedParties`	$8.41M	USD	1 Quarter
Collaboration revenue - related party	`RevenueFromRelatedParties`	$47.42M	USD	2 Qtrs
Collaboration revenue - related party	`RevenueFromRelatedParties`	$16.82M	USD	2 Qtrs
Research and development (net of $4,546 and $8,912 of cost reimbursement from related party for the three and six months ended June 30, 2015, respectively)	`ResearchAndDevelopmentExpense`	$36.42M	USD	1 Quarter
Research and development (net of $4,546 and $8,912 of cost reimbursement from related party for the three and six months ended June 30, 2015, respectively)	`ResearchAndDevelopmentExpense`	$22.58M	USD	1 Quarter
Research and development (net of $4,546 and $8,912 of cost reimbursement from related party for the three and six months ended June 30, 2015, respectively)	`ResearchAndDevelopmentExpense`	$39.98M	USD	2 Qtrs
Research and development (net of $4,546 and $8,912 of cost reimbursement from related party for the three and six months ended June 30, 2015, respectively)	`ResearchAndDevelopmentExpense`	$68.87M	USD	2 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$8.93M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$4.17M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$7.45M	USD	2 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$15.88M	USD	2 Qtrs
Total operating expenses	`OperatingExpenses`	$84.75M	USD	2 Qtrs
Total operating expenses	`OperatingExpenses`	$47.44M	USD	2 Qtrs
Total operating expenses	`OperatingExpenses`	$26.74M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$45.35M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-30.61M	USD	2 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-32.13M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-37.33M	USD	2 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-18.33M	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$474.00K	USD	2 Qtrs
Interest income	`InvestmentIncomeInterest`	$70.00K	USD	2 Qtrs
Interest income	`InvestmentIncomeInterest`	$236.00K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$34.00K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-31.90M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-36.85M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-18.30M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-30.54M	USD	2 Qtrs
Net loss per share - basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.54	USD	1 Quarter
Net loss per share - basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.94	USD	2 Qtrs
Net loss per share - basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.99	USD	2 Qtrs
Net loss per share - basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.85	USD	1 Quarter
Weighted-average number of common shares used in net loss per share - basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	33.60M	shares	1 Quarter
Weighted-average number of common shares used in net loss per share - basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	37.33M	shares	1 Quarter
Weighted-average number of common shares used in net loss per share - basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	32.51M	shares	2 Qtrs
Weighted-average number of common shares used in net loss per share - basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	37.27M	shares	2 Qtrs

Cash Flow Statement 59 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-31.90M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-36.85M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-18.30M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-30.54M	USD	2 Qtrs
Depreciation	`Depreciation`	$659.00K	USD	2 Qtrs
Depreciation	`Depreciation`	$1.15M	USD	2 Qtrs
Stock-based compensation expense	`ShareBasedCompensation`	$3.89M	USD	2 Qtrs
Stock-based compensation expense	`ShareBasedCompensation`	$13.24M	USD	2 Qtrs
Net amortization of premium on investments	`AccretionAmortizationOfDiscountsAndPremiumsInvestments`	$-305.00K	USD	2 Qtrs
Net amortization of premium on investments	`AccretionAmortizationOfDiscountsAndPremiumsInvestments`	$-319.00K	USD	2 Qtrs
Collaboration receivable - related party	`IncreaseDecreaseInDueFromRelatedPartiesCurrent`	$-476.00K	USD	2 Qtrs
Collaboration receivable - related party	`IncreaseDecreaseInDueFromRelatedPartiesCurrent`	$3.98M	USD	2 Qtrs
Other receivables	`IncreaseDecreaseInOtherReceivables`	$2.95M	USD	2 Qtrs
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$791.00K	USD	2 Qtrs
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-125.00K	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$1.68M	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-1.21M	USD	2 Qtrs
Accrued expenses and other liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$-1.13M	USD	2 Qtrs
Accrued expenses and other liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$-2.56M	USD	2 Qtrs
Deferred rent	`IncreaseDecreaseInDeferredCharges`	$-13.69M	USD	2 Qtrs
Deferred rent	`IncreaseDecreaseInDeferredCharges`	$55.00K	USD	2 Qtrs
Refundable income taxes and income taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$3.84M	USD	2 Qtrs
Refundable income taxes and income taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$-5.30M	USD	2 Qtrs
Deferred revenue - related party	`IncreaseDecreaseInDeferredRevenue`	$2.70M	USD	2 Qtrs
Deferred revenue - related party	`IncreaseDecreaseInDeferredRevenue`	$-6.41M	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-28.11M	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-21.61M	USD	2 Qtrs
Purchases of marketable securities	`PaymentsToAcquireAvailableForSaleSecurities`	$126.34M	USD	2 Qtrs
Purchases of marketable securities	`PaymentsToAcquireAvailableForSaleSecurities`	$106.20M	USD	2 Qtrs
Proceeds from maturities and sales of marketable securities	`ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities`	$198.08M	USD	2 Qtrs
Proceeds from maturities and sales of marketable securities	`ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities`	$95.50M	USD	2 Qtrs
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$14.68M	USD	2 Qtrs
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$99.00K	USD	2 Qtrs
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$77.19M	USD	2 Qtrs
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-30.94M	USD	2 Qtrs
Net proceeds from public offering of common stock, (payment of) commissions and offering costs	`ProceedsFromPaymentsOfIssuanceOfCommonStockCommissionsAndOfferingCosts`	$-207.00K	USD	2 Qtrs
Net proceeds from public offering of common stock, (payment of) commissions and offering costs	`ProceedsFromPaymentsOfIssuanceOfCommonStockCommissionsAndOfferingCosts`	$94.70M	USD	2 Qtrs
Net proceeds from stock option exercises and employee stock purchase plan	`ProceedsFromStockOptionsExercised`	$3.12M	USD	2 Qtrs
Net proceeds from stock option exercises and employee stock purchase plan	`ProceedsFromStockOptionsExercised`	$1.04M	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$95.73M	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$2.91M	USD	2 Qtrs
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$58.50M	USD	2 Qtrs
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$36.69M	USD	2 Qtrs
Cash and cash equivalents at beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	$108.25M	USD	Point-in-time
Cash and cash equivalents at beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	$14.03M	USD	Point-in-time
Cash and cash equivalents at beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	$72.53M	USD	Point-in-time
Cash and cash equivalents at beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	$71.56M	USD	Point-in-time
Cash and cash equivalents at end of the period	`CashAndCashEquivalentsAtCarryingValue`	$108.25M	USD	Point-in-time
Cash and cash equivalents at end of the period	`CashAndCashEquivalentsAtCarryingValue`	$14.03M	USD	Point-in-time
Cash and cash equivalents at end of the period	`CashAndCashEquivalentsAtCarryingValue`	$72.53M	USD	Point-in-time
Cash and cash equivalents at end of the period	`CashAndCashEquivalentsAtCarryingValue`	$71.56M	USD	Point-in-time
Cash paid for income taxes	`IncomeTaxesPaid`	$5.96M	USD	2 Qtrs
Cash paid for income taxes	`IncomeTaxesPaid`	$6.00M	USD	Point-in-time
Additions to property and equipment in accounts payable and accrued expenses	`CapitalExpendituresIncurredButNotYetPaid`	$12.00K	USD	2 Qtrs
Additions to property and equipment in accounts payable and accrued expenses	`CapitalExpendituresIncurredButNotYetPaid`	$1.53M	USD	2 Qtrs
Vesting of restricted stock	`VestingOfRestrictedStockValueIncreaseDecrease`	$-6.00K	USD	2 Qtrs
Vesting of restricted stock	`VestingOfRestrictedStockValueIncreaseDecrease`	$-4.00K	USD	2 Qtrs
Public offering costs in accounts payable and accrued expenses	`PublicOfferingCostsIncludedInAccountsPayableAndAccruedExpenses`	$13.00K	USD	2 Qtrs
Proceeds from stock option exercises in other current assets	`ProceedsFromStockOptionsExercisedInOtherCurrentAssets`	$3.00K	USD	2 Qtrs

Comprehensive Income 12 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-31.90M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-36.85M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-18.30M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-30.54M	USD	2 Qtrs
Unrealized gain (loss) on available-for-sale securities	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$31.00K	USD	1 Quarter
Unrealized gain (loss) on available-for-sale securities	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$-2.00K	USD	2 Qtrs
Unrealized gain (loss) on available-for-sale securities	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$-21.00K	USD	1 Quarter
Unrealized gain (loss) on available-for-sale securities	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$279.00K	USD	2 Qtrs
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-30.55M	USD	2 Qtrs
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-36.58M	USD	2 Qtrs
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-31.87M	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-18.32M	USD	1 Quarter

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.