10-Q Filing

AGIOS PHARMACEUTICALS, INC. CIK: 1439222 Q2 2016

Filing Information

Form Type	10-Q
Accession Number	`0001193125-16-675231`
Period End Date	20160630
Filing Date	20160808
Fiscal Year	2016
Fiscal Period	Q2
XBRL Instance	agio-20160630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 68 Income Statement 40 Cash Flow Statement 55 Comprehensive Income 12

Balance Sheet 68 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
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$234.05M	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`	$71.76M	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
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Marketable securities	`AvailableForSaleSecuritiesDebtSecuritiesCurrent`	$231.32M	USD	Point-in-time
Marketable securities	`AvailableForSaleSecuritiesDebtSecuritiesCurrent`	$245.24M	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Collaboration receivable - related party	`DueFromRelatedPartiesCurrent`	$8.22M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Collaboration receivable - related party	`DueFromRelatedPartiesCurrent`	$7.85M	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
Tenant improvement and other receivables	`AccountsAndOtherReceivablesNetCurrent`	$3.37M	USD	Point-in-time
Tenant improvement and other receivables	`AccountsAndOtherReceivablesNetCurrent`	$2.01M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$8.92M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	37.70M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	38.03M	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$8.73M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	38.03M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$337.33M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	37.70M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$484.16M	USD	Point-in-time
Marketable securities	`AvailableForSaleSecuritiesNoncurrent`	$46.93M	USD	Point-in-time
Marketable securities	`AvailableForSaleSecuritiesNoncurrent`	$58.91M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$23.22M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$25.13M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$1.38M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$611.00K	USD	Point-in-time
Total assets	`Assets`	$420.06M	USD	Point-in-time
Total assets	`Assets`	$557.60M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$18.45M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$14.75M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$14.41M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$16.00M	USD	Point-in-time
Deferred revenue - related party	`DeferredRevenueCurrent`	$19.66M	USD	Point-in-time
Deferred revenue - related party	`DeferredRevenueCurrent`	$31.47M	USD	Point-in-time
Deferred rent	`DeferredRentCreditCurrent`	$2.48M	USD	Point-in-time
Deferred rent	`DeferredRentCreditCurrent`	$2.93M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$52.89M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$67.26M	USD	Point-in-time
Deferred revenue, net of current portion - related party	`DeferredRevenueNoncurrent`	$4.70M	USD	Point-in-time
Deferred revenue, net of current portion - related party	`DeferredRevenueNoncurrent`	$183.54M	USD	Point-in-time
Deferred rent, net of current portion	`DeferredRentCreditNoncurrent`	$17.72M	USD	Point-in-time
Deferred rent, net of current portion	`DeferredRentCreditNoncurrent`	$17.36M	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 at June 30, 2016 and December 31, 2015	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, $0.001 par value; 25,000,000 shares authorized; no shares issued or outstanding at June 30, 2016 and December 31, 2015	`PreferredStockValue`	-	USD	Point-in-time
Common stock, $0.001 par value; 125,000,000 shares authorized; 38,029,510 and 37,696,502 shares issued and outstanding at June 30, 2016 and December 31, 2015, respectively	`CommonStockValue`	$38.00K	USD	Point-in-time
Common stock, $0.001 par value; 125,000,000 shares authorized; 38,029,510 and 37,696,502 shares issued and outstanding at June 30, 2016 and December 31, 2015, respectively	`CommonStockValue`	$38.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$630.08M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$652.57M	USD	Point-in-time
Accumulated other comprehensive income (loss)	`AccumulatedOtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax`	$-318.00K	USD	Point-in-time
Accumulated other comprehensive income (loss)	`AccumulatedOtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax`	$297.00K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-363.83M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-284.68M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$289.08M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$345.12M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$557.60M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$420.06M	USD	Point-in-time

Income Statement 40 line items

Line Item	Tag	Value	Unit	Period
Collaboration revenue - related party	`RevenueFromRelatedParties`	$6.98M	USD	1 Quarter
Cost reimbursement from related party	`ReimbursementOfResearchAndDevelopmentRelatedPartyCost`	$5.92M	USD	1 Quarter
Collaboration revenue - related party	`RevenueFromRelatedParties`	$47.42M	USD	2 Qtrs
Cost reimbursement from related party	`ReimbursementOfResearchAndDevelopmentRelatedPartyCost`	$8.91M	USD	2 Qtrs
Collaboration revenue - related party	`RevenueFromRelatedParties`	$38.26M	USD	2 Qtrs
Cost reimbursement from related party	`ReimbursementOfResearchAndDevelopmentRelatedPartyCost`	$4.55M	USD	1 Quarter
Collaboration revenue - related party	`RevenueFromRelatedParties`	$13.22M	USD	1 Quarter
Cost reimbursement from related party	`ReimbursementOfResearchAndDevelopmentRelatedPartyCost`	$14.72M	USD	2 Qtrs
Research and development (net of $5,922 and $4,546 of cost reimbursement from related party for the three months ended June 30, 2016 and 2015, respectively, and $14,716 and $8,912 for the six months ended June 30, 2016 and 2015, respectively)	`ResearchAndDevelopmentExpense`	$94.84M	USD	2 Qtrs
Research and development (net of $5,922 and $4,546 of cost reimbursement from related party for the three months ended June 30, 2016 and 2015, respectively, and $14,716 and $8,912 for the six months ended June 30, 2016 and 2015, respectively)	`ResearchAndDevelopmentExpense`	$68.87M	USD	2 Qtrs
Research and development (net of $5,922 and $4,546 of cost reimbursement from related party for the three months ended June 30, 2016 and 2015, respectively, and $14,716 and $8,912 for the six months ended June 30, 2016 and 2015, respectively)	`ResearchAndDevelopmentExpense`	$36.42M	USD	1 Quarter
Research and development (net of $5,922 and $4,546 of cost reimbursement from related party for the three months ended June 30, 2016 and 2015, respectively, and $14,716 and $8,912 for the six months ended June 30, 2016 and 2015, respectively)	`ResearchAndDevelopmentExpense`	$50.80M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$23.48M	USD	2 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$12.64M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$15.88M	USD	2 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$8.93M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$63.45M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$118.32M	USD	2 Qtrs
Total operating expenses	`OperatingExpenses`	$45.35M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$84.75M	USD	2 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-37.33M	USD	2 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-80.06M	USD	2 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-56.47M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-32.13M	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$517.00K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$474.00K	USD	2 Qtrs
Interest income	`InvestmentIncomeInterest`	$236.00K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$913.00K	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-31.90M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-79.15M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-36.85M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-55.95M	USD	1 Quarter
Net loss per share - basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.99	USD	2 Qtrs
Net loss per share - basic and diluted	`EarningsPerShareBasicAndDiluted`	$-1.47	USD	1 Quarter
Net loss per share - basic and diluted	`EarningsPerShareBasicAndDiluted`	$-2.09	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`	37.91M	shares	2 Qtrs
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`	37.27M	shares	2 Qtrs
Weighted-average number of common shares used in net loss per share - basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	37.96M	shares	1 Quarter

Cash Flow Statement 55 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-31.90M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-79.15M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-36.85M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-55.95M	USD	1 Quarter
Depreciation	`Depreciation`	$2.55M	USD	2 Qtrs
Depreciation	`Depreciation`	$1.15M	USD	2 Qtrs
Stock-based compensation expense	`ShareBasedCompensation`	$20.10M	USD	2 Qtrs
Stock-based compensation expense	`ShareBasedCompensation`	$13.24M	USD	2 Qtrs
Net amortization of premium and discounts on investments	`AccretionAmortizationOfDiscountsAndPremiumsInvestments`	$-319.00K	USD	2 Qtrs
Net amortization of premium and discounts on investments	`AccretionAmortizationOfDiscountsAndPremiumsInvestments`	$-330.00K	USD	2 Qtrs
Collaboration receivable - related party	`IncreaseDecreaseInDueFromRelatedPartiesCurrent`	$-372.00K	USD	2 Qtrs
Collaboration receivable - related party	`IncreaseDecreaseInDueFromRelatedPartiesCurrent`	$3.98M	USD	2 Qtrs
Tenant improvement and other receivables	`IncreaseDecreaseInAccountsAndOtherReceivables`	$2.95M	USD	2 Qtrs
Tenant improvement and other receivables	`IncreaseDecreaseInAccountsAndOtherReceivables`	$-1.36M	USD	2 Qtrs
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-125.00K	USD	2 Qtrs
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$1.13M	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$3.75M	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-1.21M	USD	2 Qtrs
Accrued expenses and other liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$-2.56M	USD	2 Qtrs
Accrued expenses and other liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$-833.00K	USD	2 Qtrs
Deferred rent	`IncreaseDecreaseInDeferredCharges`	$-13.69M	USD	2 Qtrs
Deferred rent	`IncreaseDecreaseInDeferredCharges`	$-813.00K	USD	2 Qtrs
Refundable income taxes and income taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$3.84M	USD	2 Qtrs
Deferred revenue - related party	`IncreaseDecreaseInDeferredRevenue`	$190.65M	USD	2 Qtrs
Deferred revenue - related party	`IncreaseDecreaseInDeferredRevenue`	$-6.41M	USD	2 Qtrs
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-21.61M	USD	2 Qtrs
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$138.81M	USD	2 Qtrs
Purchases of marketable securities	`PaymentsToAcquireAvailableForSaleSecurities`	$226.29M	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`	$252.47M	USD	2 Qtrs
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$14.68M	USD	2 Qtrs
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$5.27M	USD	2 Qtrs
Net cash provided by investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$77.19M	USD	2 Qtrs
Net cash provided by investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$20.91M	USD	2 Qtrs
Payment of public offering costs	`PaymentsOfStockIssuanceCosts`	$207.00K	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`	$2.56M	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$2.56M	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`	$162.28M	USD	2 Qtrs
Cash and cash equivalents at beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	$234.05M	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`	$71.76M	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 end of the period	`CashAndCashEquivalentsAtCarryingValue`	$234.05M	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`	$71.76M	USD	Point-in-time
Cash and cash equivalents at end of the period	`CashAndCashEquivalentsAtCarryingValue`	$14.03M	USD	Point-in-time
Additions to property, plant and equipment in accounts payable and accrued expenses	`CapitalExpendituresIncurredButNotYetPaid`	$1.53M	USD	2 Qtrs
Additions to property, plant and equipment in accounts payable and accrued expenses	`CapitalExpendituresIncurredButNotYetPaid`	$1.36M	USD	2 Qtrs
Vesting of restricted stock	`VestingOfRestrictedStockValueIncreaseDecrease`	$-4.00K	USD	2 Qtrs
Proceeds from stock option exercises in other current assets	`ProceedsFromStockOptionsExercisedInOtherCurrentAssets`	$3.00K	USD	2 Qtrs
Proceeds from stock option exercises in other current assets	`ProceedsFromStockOptionsExercisedInOtherCurrentAssets`	$23.00K	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`	$-79.15M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-36.85M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-55.95M	USD	1 Quarter
Unrealized gain on available-for-sale securities	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$615.00K	USD	2 Qtrs
Unrealized gain on available-for-sale securities	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$279.00K	USD	2 Qtrs
Unrealized gain on available-for-sale securities	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$208.00K	USD	1 Quarter
Unrealized gain on available-for-sale securities	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$31.00K	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-55.74M	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-31.87M	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-36.58M	USD	2 Qtrs
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-78.54M	USD	2 Qtrs

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