10-Q Filing

AGIOS PHARMACEUTICALS, INC. CIK: 1439222 Q2 2017

Filing Information

Form Type	10-Q
Accession Number	`0001439222-17-000007`
Period End Date	20170630
Filing Date	20170808
Fiscal Year	2017
Fiscal Period	Q2
XBRL Instance	agio-20170630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 68 Income Statement 40 Cash Flow Statement 61 Comprehensive Income 12

Balance Sheet 68 line items

Line Item	Tag	Value	Unit	Period
Preferred stock, par value (in usd per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, par value (in usd per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	25.00M	shares	Point-in-time
Preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	25.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$234.05M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$71.76M	USD	Point-in-time
Preferred stock, shares issued (in shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock, shares issued (in shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$138.72M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$160.75M	USD	Point-in-time
Preferred stock, shares outstanding (in shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Marketable securities	`AvailableForSaleSecuritiesCurrent`	$380.56M	USD	Point-in-time
Preferred stock, shares outstanding (in shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Marketable securities	`AvailableForSaleSecuritiesCurrent`	$447.32M	USD	Point-in-time
Common stock, par value (in usd per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Collaboration receivable related party	`DueFromRelatedPartiesCurrent`	$4.89M	USD	Point-in-time
Collaboration receivable related party	`DueFromRelatedPartiesCurrent`	$4.84M	USD	Point-in-time
Common stock, par value (in usd per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	125.00M	shares	Point-in-time
Tenant improvement and other receivables	`AccountsAndOtherReceivablesNetCurrent`	$779.00K	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	125.00M	shares	Point-in-time
Tenant improvement and other receivables	`AccountsAndOtherReceivablesNetCurrent`	$3.43M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$13.02M	USD	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	48.35M	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$10.26M	USD	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	42.22M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$604.68M	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	42.22M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$559.89M	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	48.35M	shares	Point-in-time
Marketable securities	`AvailableForSaleSecuritiesNoncurrent`	$32.25M	USD	Point-in-time
Marketable securities	`AvailableForSaleSecuritiesNoncurrent`	$129.90M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$24.77M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$25.34M	USD	Point-in-time
Other non-current assets	`OtherAssetsNoncurrent`	$1.61M	USD	Point-in-time
Other non-current assets	`OtherAssetsNoncurrent`	$1.25M	USD	Point-in-time
Total assets	`Assets`	$619.09M	USD	Point-in-time
Total assets	`Assets`	$760.60M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$23.41M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$17.11M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$29.64M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$32.00M	USD	Point-in-time
Deferred revenue related party	`DeferredRevenueCurrent`	$35.91M	USD	Point-in-time
Deferred revenue related party	`DeferredRevenueCurrent`	$37.07M	USD	Point-in-time
Deferred rent	`DeferredRentCreditCurrent`	$3.41M	USD	Point-in-time
Deferred rent	`DeferredRentCreditCurrent`	$3.53M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$93.65M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$88.43M	USD	Point-in-time
Deferred revenue, net of current portion related party	`DeferredRevenueNoncurrent`	$141.96M	USD	Point-in-time
Deferred revenue, net of current portion related party	`DeferredRevenueNoncurrent`	$154.30M	USD	Point-in-time
Deferred rent, net of current portion	`DeferredRentCreditNoncurrent`	$16.00M	USD	Point-in-time
Deferred rent, net of current portion	`DeferredRentCreditNoncurrent`	$17.77M	USD	Point-in-time
Total liabilities	`Liabilities`	$260.50M	USD	Point-in-time
Total liabilities	`Liabilities`	$251.61M	USD	Point-in-time
Preferred stock, $0.001 par value; 25,000,000 shares authorized; no shares issued or outstanding at June 30, 2017 and December 31, 2016	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, $0.001 par value; 25,000,000 shares authorized; no shares issued or outstanding at June 30, 2017 and December 31, 2016	`PreferredStockValue`	-	USD	Point-in-time
Common stock, $0.001 par value; 125,000,000 shares authorized; 48,346,297 and 42,220,444 shares issued and outstanding at June 30, 2017 and December 31, 2016, respectively	`CommonStockValue`	$42.00K	USD	Point-in-time
Common stock, $0.001 par value; 125,000,000 shares authorized; 48,346,297 and 42,220,444 shares issued and outstanding at June 30, 2017 and December 31, 2016, respectively	`CommonStockValue`	$48.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$1.14B	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$842.01M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax`	$-313.00K	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax`	$-650.00K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-632.64M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-483.15M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$358.59M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$508.99M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$619.09M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$760.60M	USD	Point-in-time

Income Statement 40 line items

Line Item	Tag	Value	Unit	Period
Research and development (net of $2,489 and $5,922 of cost reimbursement from related party for the three months ended June 30, 2017 and 2016, respectively, and $5,265 and $14,716 of cost reimbursement from related party for the six months ended June 30, 2017 and 2016, respectively)	`ResearchAndDevelopmentArrangementContractToPerformForOthersCompensationEarned`	$5.26M	USD	2 Qtrs
Collaboration revenue related party	`Revenues`	$6.98M	USD	1 Quarter
Research and development (net of $2,489 and $5,922 of cost reimbursement from related party for the three months ended June 30, 2017 and 2016, respectively, and $5,265 and $14,716 of cost reimbursement from related party for the six months ended June 30, 2017 and 2016, respectively)	`ResearchAndDevelopmentArrangementContractToPerformForOthersCompensationEarned`	$14.72M	USD	2 Qtrs
Research and development (net of $2,489 and $5,922 of cost reimbursement from related party for the three months ended June 30, 2017 and 2016, respectively, and $5,265 and $14,716 of cost reimbursement from related party for the six months ended June 30, 2017 and 2016, respectively)	`ResearchAndDevelopmentArrangementContractToPerformForOthersCompensationEarned`	$2.49M	USD	1 Quarter
Collaboration revenue related party	`Revenues`	$11.35M	USD	1 Quarter
Collaboration revenue related party	`Revenues`	$21.85M	USD	2 Qtrs
Collaboration revenue related party	`Revenues`	$38.26M	USD	2 Qtrs
Research and development (net of $2,489 and $5,922 of cost reimbursement from related party for the three months ended June 30, 2017 and 2016, respectively, and $5,265 and $14,716 of cost reimbursement from related party for the six months ended June 30, 2017 and 2016, respectively)	`ResearchAndDevelopmentArrangementContractToPerformForOthersCompensationEarned`	$5.92M	USD	1 Quarter
Research and development (net of $2,776 and $8,794 of cost reimbursement from related party for the three months ended March 31, 2017 and 2016, respectively)	`ResearchAndDevelopmentExpense`	$142.55M	USD	2 Qtrs
Research and development (net of $2,776 and $8,794 of cost reimbursement from related party for the three months ended March 31, 2017 and 2016, respectively)	`ResearchAndDevelopmentExpense`	$79.82M	USD	1 Quarter
Research and development (net of $2,776 and $8,794 of cost reimbursement from related party for the three months ended March 31, 2017 and 2016, respectively)	`ResearchAndDevelopmentExpense`	$50.80M	USD	1 Quarter
Research and development (net of $2,776 and $8,794 of cost reimbursement from related party for the three months ended March 31, 2017 and 2016, respectively)	`ResearchAndDevelopmentExpense`	$94.84M	USD	2 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$12.64M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$23.48M	USD	2 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$30.95M	USD	2 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$16.13M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$95.95M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$118.32M	USD	2 Qtrs
Total operating expenses	`OperatingExpenses`	$63.45M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$173.50M	USD	2 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-151.65M	USD	2 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-84.60M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-56.47M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-80.06M	USD	2 Qtrs
Interest income	`InvestmentIncomeInterest`	$2.40M	USD	2 Qtrs
Interest income	`InvestmentIncomeInterest`	$1.52M	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$517.00K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$913.00K	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-149.25M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-83.08M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-55.95M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-79.15M	USD	2 Qtrs
Net (loss) income per share basic and diluted (usd per share)	`EarningsPerShareBasicAndDiluted`	$-1.47	USD	1 Quarter
Net (loss) income per share basic and diluted (usd per share)	`EarningsPerShareBasicAndDiluted`	$-1.78	USD	1 Quarter
Net (loss) income per share basic and diluted (usd per share)	`EarningsPerShareBasicAndDiluted`	$-3.35	USD	2 Qtrs
Net (loss) income per share basic and diluted (usd per share)	`EarningsPerShareBasicAndDiluted`	$-2.09	USD	2 Qtrs
Weighted-average number of common shares used in computing net (loss) income per share basic and diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	37.96M	shares	1 Quarter
Weighted-average number of common shares used in computing net (loss) income per share basic and diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	46.75M	shares	1 Quarter
Weighted-average number of common shares used in computing net (loss) income per share basic and diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	44.53M	shares	2 Qtrs
Weighted-average number of common shares used in computing net (loss) income per share basic and diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	37.91M	shares	2 Qtrs

Cash Flow Statement 61 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-149.25M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-83.08M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-55.95M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-79.15M	USD	2 Qtrs
Depreciation	`Depreciation`	$3.16M	USD	2 Qtrs
Depreciation	`Depreciation`	$2.55M	USD	2 Qtrs
Stock-based compensation expense	`ShareBasedCompensation`	$20.10M	USD	2 Qtrs
Stock-based compensation expense	`ShareBasedCompensation`	$22.92M	USD	2 Qtrs
Net amortization of premium and discounts on investments	`AccretionAmortizationOfDiscountsAndPremiumsInvestments`	$-94.00K	USD	2 Qtrs
Net amortization of premium and discounts on investments	`AccretionAmortizationOfDiscountsAndPremiumsInvestments`	$-330.00K	USD	2 Qtrs
Loss on disposal of fixed assets	`GainLossOnDispositionOfAssets1`	$-40.00K	USD	2 Qtrs
Loss on disposal of fixed assets	`GainLossOnDispositionOfAssets1`	-	USD	2 Qtrs
Collaboration receivable related party	`IncreaseDecreaseInDueFromRelatedPartiesCurrent`	$-372.00K	USD	2 Qtrs
Collaboration receivable related party	`IncreaseDecreaseInDueFromRelatedPartiesCurrent`	$-44.00K	USD	2 Qtrs
Tenant improvement and other receivables	`IncreaseDecreaseInAccountsAndOtherReceivables`	$-1.36M	USD	2 Qtrs
Tenant improvement and other receivables	`IncreaseDecreaseInAccountsAndOtherReceivables`	$-2.64M	USD	2 Qtrs
Prepaid expenses and other current and non-current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$2.42M	USD	2 Qtrs
Prepaid expenses and other current and non-current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$1.13M	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$4.93M	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$3.75M	USD	2 Qtrs
Accrued expenses and other liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$-2.39M	USD	2 Qtrs
Accrued expenses and other liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$-833.00K	USD	2 Qtrs
Deferred revenue related party	`IncreaseDecreaseInDeferredRevenue`	$-11.18M	USD	2 Qtrs
Deferred revenue related party	`IncreaseDecreaseInDeferredRevenue`	$190.65M	USD	2 Qtrs
Deferred rent	`IncreaseDecreaseInDeferredCharges`	$1.65M	USD	2 Qtrs
Deferred rent	`IncreaseDecreaseInDeferredCharges`	$-813.00K	USD	2 Qtrs
Net cash (used in) provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-133.06M	USD	2 Qtrs
Net cash (used in) provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$138.81M	USD	2 Qtrs
Purchases of marketable securities	`PaymentsToAcquireAvailableForSaleSecurities`	$468.56M	USD	2 Qtrs
Purchases of marketable securities	`PaymentsToAcquireAvailableForSaleSecurities`	$226.29M	USD	2 Qtrs
Proceeds from maturities and sales of marketable securities	`ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities`	$252.47M	USD	2 Qtrs
Proceeds from maturities and sales of marketable securities	`ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities`	$303.71M	USD	2 Qtrs
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$5.27M	USD	2 Qtrs
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.33M	USD	2 Qtrs
Net cash (used in) provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$20.91M	USD	2 Qtrs
Net cash (used in) provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-166.17M	USD	2 Qtrs
Reimbursement of public offering costs, net of payments	`PaymentsOfStockIssuanceCosts`	-	USD	2 Qtrs
Reimbursement of public offering costs, net of payments	`PaymentsOfStockIssuanceCosts`	$-104.00K	USD	2 Qtrs
Proceeds from public offering of common stock, net of commissions	`ProceedsFromIssuanceOfCommonStock`	$270.20M	USD	Point-in-time
Proceeds from public offering of common stock, net of commissions	`ProceedsFromIssuanceOfCommonStock`	-	USD	2 Qtrs
Proceeds from public offering of common stock, net of commissions	`ProceedsFromIssuanceOfCommonStock`	$270.25M	USD	2 Qtrs
Net proceeds from stock option exercises and employee stock purchase plan	`ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions`	$2.56M	USD	2 Qtrs
Net proceeds from stock option exercises and employee stock purchase plan	`ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions`	$6.84M	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$2.56M	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$277.20M	USD	2 Qtrs
Net change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$162.28M	USD	2 Qtrs
Net change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-22.04M	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`	$71.76M	USD	Point-in-time
Cash and cash equivalents at beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	$138.72M	USD	Point-in-time
Cash and cash equivalents at beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	$160.75M	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`	$71.76M	USD	Point-in-time
Cash and cash equivalents at end of the period	`CashAndCashEquivalentsAtCarryingValue`	$138.72M	USD	Point-in-time
Cash and cash equivalents at end of the period	`CashAndCashEquivalentsAtCarryingValue`	$160.75M	USD	Point-in-time
Additions to property and equipment in accounts payable and accrued expenses	`CapitalExpendituresIncurredButNotYetPaid`	$1.36M	USD	2 Qtrs
Additions to property and equipment in accounts payable and accrued expenses	`CapitalExpendituresIncurredButNotYetPaid`	$1.38M	USD	2 Qtrs
Proceeds from stock option exercises in other receivables	`ProceedsFromStockOptionsExercisedInOtherCurrentAssets`	$23.00K	USD	2 Qtrs
Proceeds from stock option exercises in other receivables	`ProceedsFromStockOptionsExercisedInOtherCurrentAssets`	$3.00K	USD	2 Qtrs
Public offering costs in other receivables, net of amounts in accounts payable and accrued expenses	`PublicOfferingCostsInOtherCurrentAssets`	$125.00K	USD	2 Qtrs
Public offering costs in other receivables, net of amounts in accounts payable and accrued expenses	`PublicOfferingCostsInOtherCurrentAssets`	-	USD	2 Qtrs

Comprehensive Income 12 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-149.25M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-83.08M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-55.95M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-79.15M	USD	2 Qtrs
Unrealized (loss) gain on available-for-sale securities	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$-438.00K	USD	1 Quarter
Unrealized (loss) gain on available-for-sale securities	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$-337.00K	USD	2 Qtrs
Unrealized (loss) gain on available-for-sale securities	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$615.00K	USD	2 Qtrs
Unrealized (loss) gain on available-for-sale securities	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$208.00K	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-55.74M	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-78.54M	USD	2 Qtrs
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-83.52M	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-149.59M	USD	2 Qtrs

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