10-Q Filing

AGIOS PHARMACEUTICALS, INC. CIK: 1439222 Q3 2016

Filing Information

Form Type	10-Q
Accession Number	`0001193125-16-758835`
Period End Date	20160930
Filing Date	20161103
Fiscal Year	2016
Fiscal Period	Q3
XBRL Instance	agio-20160930.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 68 Income Statement 40 Cash Flow Statement 57 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`	$14.03M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$80.05M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$285.50M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$71.76M	USD	Point-in-time
Marketable securities	`AvailableForSaleSecuritiesDebtSecuritiesCurrent`	$245.24M	USD	Point-in-time
Marketable securities	`AvailableForSaleSecuritiesDebtSecuritiesCurrent`	$293.60M	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	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`	$8.22M	USD	Point-in-time
Collaboration receivable - related party	`DueFromRelatedPartiesCurrent`	$8.18M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	125.00M	shares	Point-in-time
Tenant improvement and other receivables	`AccountsAndOtherReceivablesNetCurrent`	$3.39M	USD	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
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$8.73M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	42.01M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	37.70M	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$10.28M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$600.94M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	42.01M	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
Marketable securities	`AvailableForSaleSecuritiesNoncurrent`	$43.50M	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`	$26.26M	USD	Point-in-time
Other non-current assets	`OtherAssetsNoncurrent`	$1.34M	USD	Point-in-time
Other non-current assets	`OtherAssetsNoncurrent`	$611.00K	USD	Point-in-time
Total assets	`Assets`	$420.06M	USD	Point-in-time
Total assets	`Assets`	$672.04M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$15.42M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$14.75M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$22.81M	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`	$36.41M	USD	Point-in-time
Deferred rent	`DeferredRentCreditCurrent`	$2.48M	USD	Point-in-time
Deferred rent	`DeferredRentCreditCurrent`	$3.36M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$52.89M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$78.00M	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`	$173.94M	USD	Point-in-time
Deferred rent, net of current portion	`DeferredRentCreditNoncurrent`	$17.36M	USD	Point-in-time
Deferred rent, net of current portion	`DeferredRentCreditNoncurrent`	$18.65M	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 September 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 September 30, 2016 and December 31, 2015	`PreferredStockValue`	-	USD	Point-in-time
Common stock, $0.001 par value; 125,000,000 shares authorized; 42,013,995 and 37,696,502 shares issued and outstanding at September 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; 42,013,995 and 37,696,502 shares issued and outstanding at September 30, 2016 and December 31, 2015, respectively	`CommonStockValue`	$42.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$828.04M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$630.08M	USD	Point-in-time
Accumulated other comprehensive income (loss)	`AccumulatedOtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax`	$29.00K	USD	Point-in-time
Accumulated other comprehensive income (loss)	`AccumulatedOtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax`	$-318.00K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-284.68M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-426.67M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$345.12M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$401.45M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$420.06M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$672.04M	USD	Point-in-time

Income Statement 40 line items

Line Item	Tag	Value	Unit	Period
Cost reimbursement from related party	`ReimbursementOfResearchAndDevelopmentRelatedPartyCost`	$16.73M	USD	3 Qtrs
Collaboration revenue - related party	`RevenueFromRelatedParties`	$8.98M	USD	1 Quarter
Cost reimbursement from related party	`ReimbursementOfResearchAndDevelopmentRelatedPartyCost`	$4.04M	USD	1 Quarter
Collaboration revenue - related party	`RevenueFromRelatedParties`	$47.24M	USD	3 Qtrs
Collaboration revenue - related party	`RevenueFromRelatedParties`	$52.90M	USD	3 Qtrs
Collaboration revenue - related party	`RevenueFromRelatedParties`	$5.48M	USD	1 Quarter
Cost reimbursement from related party	`ReimbursementOfResearchAndDevelopmentRelatedPartyCost`	$7.82M	USD	1 Quarter
Cost reimbursement from related party	`ReimbursementOfResearchAndDevelopmentRelatedPartyCost`	$18.75M	USD	3 Qtrs
Research and development (net of $4,038 and $7,817 of cost reimbursement from related party for the three months ended September 30, 2016 and 2015, respectively, and $18,754 and $16,729 for the nine months ended September 30, 2016 and 2015, respectively)	`ResearchAndDevelopmentExpense`	$155.49M	USD	3 Qtrs
Research and development (net of $4,038 and $7,817 of cost reimbursement from related party for the three months ended September 30, 2016 and 2015, respectively, and $18,754 and $16,729 for the nine months ended September 30, 2016 and 2015, respectively)	`ResearchAndDevelopmentExpense`	$36.03M	USD	1 Quarter
Research and development (net of $4,038 and $7,817 of cost reimbursement from related party for the three months ended September 30, 2016 and 2015, respectively, and $18,754 and $16,729 for the nine months ended September 30, 2016 and 2015, respectively)	`ResearchAndDevelopmentExpense`	$60.64M	USD	1 Quarter
Research and development (net of $4,038 and $7,817 of cost reimbursement from related party for the three months ended September 30, 2016 and 2015, respectively, and $18,754 and $16,729 for the nine months ended September 30, 2016 and 2015, respectively)	`ResearchAndDevelopmentExpense`	$104.89M	USD	3 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$11.85M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$25.81M	USD	3 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$9.93M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$35.34M	USD	3 Qtrs
Total operating expenses	`OperatingExpenses`	$72.50M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$130.70M	USD	3 Qtrs
Total operating expenses	`OperatingExpenses`	$190.82M	USD	3 Qtrs
Total operating expenses	`OperatingExpenses`	$45.95M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-40.48M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-63.51M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-77.80M	USD	3 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-143.58M	USD	3 Qtrs
Interest income	`InvestmentIncomeInterest`	$1.59M	USD	3 Qtrs
Interest income	`InvestmentIncomeInterest`	$678.00K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$218.00K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$692.00K	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-141.99M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-40.26M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-77.11M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-62.83M	USD	1 Quarter
Net loss per share - basic and diluted	`EarningsPerShareBasicAndDiluted`	$-1.07	USD	1 Quarter
Net loss per share - basic and diluted	`EarningsPerShareBasicAndDiluted`	$-3.72	USD	3 Qtrs
Net loss per share - basic and diluted	`EarningsPerShareBasicAndDiluted`	$-2.06	USD	3 Qtrs
Net loss per share - basic and diluted	`EarningsPerShareBasicAndDiluted`	$-1.63	USD	1 Quarter
Weighted-average number of common shares used in net loss per share - basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	37.35M	shares	3 Qtrs
Weighted-average number of common shares used in net loss per share - basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	37.51M	shares	1 Quarter
Weighted-average number of common shares used in net loss per share - basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	38.55M	shares	1 Quarter
Weighted-average number of common shares used in net loss per share - basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	38.12M	shares	3 Qtrs

Cash Flow Statement 57 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-141.99M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-40.26M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-77.11M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-62.83M	USD	1 Quarter
Depreciation	`Depreciation`	$2.20M	USD	3 Qtrs
Depreciation	`Depreciation`	$3.99M	USD	3 Qtrs
Stock-based compensation expense	`ShareBasedCompensation`	$22.61M	USD	3 Qtrs
Stock-based compensation expense	`ShareBasedCompensation`	$32.25M	USD	3 Qtrs
Net amortization of premium and discounts on investments	`AccretionAmortizationOfDiscountsAndPremiumsInvestments`	$-431.00K	USD	3 Qtrs
Net amortization of premium and discounts on investments	`AccretionAmortizationOfDiscountsAndPremiumsInvestments`	$-534.00K	USD	3 Qtrs
Collaboration receivable - related party	`IncreaseDecreaseInDueFromRelatedPartiesCurrent`	$-43.00K	USD	3 Qtrs
Collaboration receivable - related party	`IncreaseDecreaseInDueFromRelatedPartiesCurrent`	$2.58M	USD	3 Qtrs
Tenant improvement and other receivables	`IncreaseDecreaseInAccountsAndOtherReceivables`	$659.00K	USD	3 Qtrs
Tenant improvement and other receivables	`IncreaseDecreaseInAccountsAndOtherReceivables`	$-271.00K	USD	3 Qtrs
Prepaid expenses and other current and non-current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$2.46M	USD	3 Qtrs
Prepaid expenses and other current and non-current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$2.32M	USD	3 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$1.67M	USD	3 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-1.32M	USD	3 Qtrs
Accrued expenses and other liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$7.33M	USD	3 Qtrs
Accrued expenses and other liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$2.47M	USD	3 Qtrs
Deferred rent	`IncreaseDecreaseInDeferredCharges`	$-15.55M	USD	3 Qtrs
Deferred rent	`IncreaseDecreaseInDeferredCharges`	$-2.17M	USD	3 Qtrs
Refundable income taxes and income taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$3.84M	USD	3 Qtrs
Deferred revenue - related party	`IncreaseDecreaseInDeferredRevenue`	$185.99M	USD	3 Qtrs
Deferred revenue - related party	`IncreaseDecreaseInDeferredRevenue`	$-9.52M	USD	3 Qtrs
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-46.42M	USD	3 Qtrs
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$89.78M	USD	3 Qtrs
Purchases of marketable securities	`PaymentsToAcquireAvailableForSaleSecurities`	$367.59M	USD	3 Qtrs
Purchases of marketable securities	`PaymentsToAcquireAvailableForSaleSecurities`	$218.66M	USD	3 Qtrs
Proceeds from maturities and sales of marketable securities	`ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities`	$334.45M	USD	3 Qtrs
Proceeds from maturities and sales of marketable securities	`ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities`	$343.99M	USD	3 Qtrs
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$17.98M	USD	3 Qtrs
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$8.69M	USD	3 Qtrs
Net cash (used in) provided by investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$107.35M	USD	3 Qtrs
Net cash (used in) provided by investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-41.83M	USD	3 Qtrs
Proceeds from public offering of common stock, net of commissions	`ProceedsFromIssuanceOfCommonStock`	$162.15M	USD	3 Qtrs
Payment of public offering costs	`PaymentsOfStockIssuanceCosts`	$124.00K	USD	3 Qtrs
Payment of public offering costs	`PaymentsOfStockIssuanceCosts`	$207.00K	USD	3 Qtrs
Net proceeds from stock option exercises and employee stock purchase plan	`ProceedsFromStockOptionsExercised`	$5.29M	USD	3 Qtrs
Net proceeds from stock option exercises and employee stock purchase plan	`ProceedsFromStockOptionsExercised`	$3.76M	USD	3 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$5.09M	USD	3 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$165.78M	USD	3 Qtrs
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$66.02M	USD	3 Qtrs
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$213.74M	USD	3 Qtrs
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`	$80.05M	USD	Point-in-time
Cash and cash equivalents at beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	$285.50M	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 end of the period	`CashAndCashEquivalentsAtCarryingValue`	$14.03M	USD	Point-in-time
Cash and cash equivalents at end of the period	`CashAndCashEquivalentsAtCarryingValue`	$80.05M	USD	Point-in-time
Cash and cash equivalents at end of the period	`CashAndCashEquivalentsAtCarryingValue`	$285.50M	USD	Point-in-time
Cash and cash equivalents at end of the period	`CashAndCashEquivalentsAtCarryingValue`	$71.76M	USD	Point-in-time
Additions to property, plant and equipment in accounts payable and accrued expenses	`CapitalExpendituresIncurredButNotYetPaid`	$1.08M	USD	3 Qtrs
Additions to property, plant and equipment in accounts payable and accrued expenses	`CapitalExpendituresIncurredButNotYetPaid`	$497.00K	USD	3 Qtrs
Vesting of restricted stock	`VestingOfRestrictedStockValueIncreaseDecrease`	$-6.00K	USD	3 Qtrs
Proceeds from stock option exercises in other current assets	`ProceedsFromStockOptionsExercisedInOtherCurrentAssets`	$200.00K	USD	3 Qtrs
Public offering costs in other current assets, net of amounts in accounts payable and accrued expenses	`PublicOfferingCostsInOtherCurrentAssetsNetOfAmountsInAccountsPayableAndAccruedExpenses`	$124.00K	USD	3 Qtrs

Comprehensive Income 12 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-141.99M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-40.26M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-77.11M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-62.83M	USD	1 Quarter
Unrealized (loss) gain on available-for-sale securities	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$-268.00K	USD	1 Quarter
Unrealized (loss) gain on available-for-sale securities	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$282.00K	USD	3 Qtrs
Unrealized (loss) gain on available-for-sale securities	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$3.00K	USD	1 Quarter
Unrealized (loss) gain on available-for-sale securities	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$347.00K	USD	3 Qtrs
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-141.64M	USD	3 Qtrs
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-76.83M	USD	3 Qtrs
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-63.10M	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-40.25M	USD	1 Quarter

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