10-Q Filing

AGIOS PHARMACEUTICALS, INC. CIK: 1439222 Q1 2018

Filing Information

Form Type	10-Q
Accession Number	`0001439222-18-000009`
Period End Date	20180331
Filing Date	20180504
Fiscal Year	2018
Fiscal Period	Q1
XBRL Instance	agio-20180331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 68 Income Statement 24 Cash Flow Statement 63 Comprehensive Income 6

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`	$102.72M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$160.75M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$200.28M	USD	Point-in-time
Preferred stock, shares issued (in shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$364.47M	USD	Point-in-time
Preferred stock, shares issued (in shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock, shares outstanding (in shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Marketable securities	`AvailableForSaleSecuritiesCurrent`	$417.98M	USD	Point-in-time
Marketable securities	`AvailableForSaleSecuritiesCurrent`	$321.21M	USD	Point-in-time
Preferred stock, shares outstanding (in shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Collaboration receivable related party	`CollaborationReceivableDuefromRelatedPartiesCurrent`	$2.45M	USD	Point-in-time
Common stock, par value (in usd per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Collaboration receivable related party	`CollaborationReceivableDuefromRelatedPartiesCurrent`	$3.51M	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
Royalty receivable related party	`RoyaltyReceivableDuefromRelatedPartiesCurrent`	$1.42M	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	125.00M	shares	Point-in-time
Royalty receivable related party	`RoyaltyReceivableDuefromRelatedPartiesCurrent`	$1.22M	USD	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	57.54M	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$15.61M	USD	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	48.83M	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$17.66M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$802.99M	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	48.83M	shares	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	57.54M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$445.26M	USD	Point-in-time
Marketable securities	`AvailableForSaleSecuritiesNoncurrent`	$143.81M	USD	Point-in-time
Marketable securities	`AvailableForSaleSecuritiesNoncurrent`	$212.30M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$23.73M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$24.43M	USD	Point-in-time
Other non-current assets	`OtherAssetsNoncurrent`	$1.10M	USD	Point-in-time
Other non-current assets	`OtherAssetsNoncurrent`	$891.00K	USD	Point-in-time
Total assets	`Assets`	$614.40M	USD	Point-in-time
Total assets	`Assets`	$1.04B	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$17.93M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$22.77M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$34.03M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$17.00M	USD	Point-in-time
Deferred revenue related party	`DeferredRevenueCurrent`	$39.21M	USD	Point-in-time
Deferred revenue related party	`DeferredRevenueCurrent`	$37.84M	USD	Point-in-time
Deferred rent	`DeferredRentCreditCurrent`	$550.00K	USD	Point-in-time
Deferred rent	`DeferredRentCreditCurrent`	$301.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$74.70M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$94.94M	USD	Point-in-time
Deferred revenue, net of current portion related party	`DeferredRevenueNoncurrent`	$81.83M	USD	Point-in-time
Deferred revenue, net of current portion related party	`DeferredRevenueNoncurrent`	$125.80M	USD	Point-in-time
Deferred rent, net of current portion	`DeferredRentCreditNoncurrent`	$18.16M	USD	Point-in-time
Deferred rent, net of current portion	`DeferredRentCreditNoncurrent`	$18.00M	USD	Point-in-time
Total liabilities	`Liabilities`	$238.89M	USD	Point-in-time
Total liabilities	`Liabilities`	$174.53M	USD	Point-in-time
Preferred stock, $0.001 par value; 25,000,000 shares authorized; no shares issued or outstanding at March 31, 2018 and December 31, 2017	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, $0.001 par value; 25,000,000 shares authorized; no shares issued or outstanding at March 31, 2018 and December 31, 2017	`PreferredStockValue`	-	USD	Point-in-time
Common stock, $0.001 par value; 125,000,000 shares authorized; 57,541,613 and 48,826,153 shares issued and outstanding at March 31, 2018 and December 31, 2017, respectively	`CommonStockValue`	$49.00K	USD	Point-in-time
Common stock, $0.001 par value; 125,000,000 shares authorized; 57,541,613 and 48,826,153 shares issued and outstanding at March 31, 2018 and December 31, 2017, respectively	`CommonStockValue`	$58.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$1.17B	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$1.72B	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax`	$-1.39M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax`	$-2.64M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-798.06M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-849.43M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$375.50M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$865.59M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$1.04B	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$614.40M	USD	Point-in-time

Income Statement 24 line items

Line Item	Tag	Value	Unit	Period
Collaboration revenue related party	`LicenseAndServicesRevenue`	$10.51M	USD	1 Quarter
Reduction of research and development expenses	`ResearchAndDevelopmentArrangementContractToPerformForOthersCompensationEarned`	$2.78M	USD	1 Quarter
Reduction of research and development expenses	`ResearchAndDevelopmentArrangementContractToPerformForOthersCompensationEarned`	-	USD	1 Quarter
Collaboration revenue related party	`LicenseAndServicesRevenue`	$7.34M	USD	1 Quarter
Royalty revenue related party	`RoyaltyRevenue`	$1.42M	USD	1 Quarter
Royalty revenue related party	`RoyaltyRevenue`	-	USD	1 Quarter
Total revenue	`Revenues`	$10.51M	USD	1 Quarter
Total revenue	`Revenues`	$8.76M	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`	$62.73M	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`	$78.22M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$14.82M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$24.55M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$77.56M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$102.77M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-94.01M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-67.05M	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$881.00K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$3.19M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-66.17M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-90.83M	USD	1 Quarter
Net loss per share basic and diluted (usd per share)	`EarningsPerShareBasicAndDiluted`	$-1.63	USD	1 Quarter
Net loss per share basic and diluted (usd per share)	`EarningsPerShareBasicAndDiluted`	$-1.56	USD	1 Quarter
Weighted-average number of common shares used in computing net loss per share basic and diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	55.69M	shares	1 Quarter
Weighted-average number of common shares used in computing net loss per share basic and diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	42.28M	shares	1 Quarter

Cash Flow Statement 63 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-66.17M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-90.83M	USD	1 Quarter
Depreciation	`Depreciation`	$1.59M	USD	1 Quarter
Depreciation	`Depreciation`	$1.73M	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$14.52M	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$10.73M	USD	1 Quarter
Net amortization of premium and discounts on investments	`AccretionAmortizationOfDiscountsAndPremiumsInvestments`	$406.00K	USD	1 Quarter
Net amortization of premium and discounts on investments	`AccretionAmortizationOfDiscountsAndPremiumsInvestments`	$-163.00K	USD	1 Quarter
Loss on disposal of property and equipment	`GainLossOnDispositionOfAssets1`	$-40.00K	USD	1 Quarter
Loss on disposal of property and equipment	`GainLossOnDispositionOfAssets1`	-	USD	1 Quarter
Collaboration receivable related party	`IncreaseDecreaseinCollaborationReceivableDuefromRelatedPartiesCurrent`	$6.38M	USD	1 Quarter
Collaboration receivable related party	`IncreaseDecreaseinCollaborationReceivableDuefromRelatedPartiesCurrent`	$1.06M	USD	1 Quarter
Royalty receivable related party	`IncreaseDecreaseinRoyaltyReceivableDuefromRelatedPartiesCurrent`	-	USD	1 Quarter
Royalty receivable related party	`IncreaseDecreaseinRoyaltyReceivableDuefromRelatedPartiesCurrent`	$195.00K	USD	1 Quarter
Tenant improvement and other receivables	`IncreaseDecreaseInAccountsAndOtherReceivables`	$24.00K	USD	1 Quarter
Tenant improvement and other receivables	`IncreaseDecreaseInAccountsAndOtherReceivables`	-	USD	1 Quarter
Prepaid expenses and other current and non-current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-1.90M	USD	1 Quarter
Prepaid expenses and other current and non-current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$3.42M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-4.47M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-994.00K	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$-6.89M	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$-17.14M	USD	1 Quarter
Deferred revenue related party	`IncreaseDecreaseInDeferredRevenue`	$-3.14M	USD	1 Quarter
Deferred revenue related party	`IncreaseDecreaseInDeferredRevenue`	$-1.92M	USD	1 Quarter
Deferred rent	`IncreaseDecreaseInDeferredCharges`	$-96.00K	USD	1 Quarter
Deferred rent	`IncreaseDecreaseInDeferredCharges`	$801.00K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-74.07M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-99.00M	USD	1 Quarter
Purchases of marketable securities	`PaymentsToAcquireMarketableSecurities`	$330.97M	USD	1 Quarter
Purchases of marketable securities	`PaymentsToAcquireMarketableSecurities`	$26.74M	USD	1 Quarter
Proceeds from maturities and sales of marketable securities	`ProceedsFromSaleAndMaturityOfMarketableSecurities`	$136.59M	USD	1 Quarter
Proceeds from maturities and sales of marketable securities	`ProceedsFromSaleAndMaturityOfMarketableSecurities`	$164.87M	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.43M	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$293.00K	USD	1 Quarter
Net cash (used in) provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$109.55M	USD	1 Quarter
Net cash (used in) provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-167.53M	USD	1 Quarter
Payment of public offering costs, net of reimbursements	`PaymentsOfStockIssuanceCosts`	$100.00K	USD	1 Quarter
Payment of public offering costs, net of reimbursements	`PaymentsOfStockIssuanceCosts`	$188.00K	USD	1 Quarter
Proceeds from public offering of common stock, net of commissions	`ProceedsFromIssuanceOfCommonStock`	-	USD	1 Quarter
Proceeds from public offering of common stock, net of commissions	`ProceedsFromIssuanceOfCommonStock`	$516.21M	USD	1 Quarter
Proceeds from public offering of common stock, net of commissions	`ProceedsFromIssuanceOfCommonStock`	$516.20M	USD	Point-in-time
Net proceeds from stock option exercises and employee stock purchase plan	`ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions`	$4.15M	USD	1 Quarter
Net proceeds from stock option exercises and employee stock purchase plan	`ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions`	$12.26M	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$528.28M	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$4.05M	USD	1 Quarter
Net change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$39.52M	USD	1 Quarter
Net change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$261.75M	USD	1 Quarter
Cash and cash equivalents at beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	$102.72M	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 beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	$200.28M	USD	Point-in-time
Cash and cash equivalents at beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	$364.47M	USD	Point-in-time
Cash and cash equivalents at end of the period	`CashAndCashEquivalentsAtCarryingValue`	$102.72M	USD	Point-in-time
Cash and cash equivalents at end of the period	`CashAndCashEquivalentsAtCarryingValue`	$160.75M	USD	Point-in-time
Cash and cash equivalents at end of the period	`CashAndCashEquivalentsAtCarryingValue`	$200.28M	USD	Point-in-time
Cash and cash equivalents at end of the period	`CashAndCashEquivalentsAtCarryingValue`	$364.47M	USD	Point-in-time
Additions to property and equipment in accounts payable and accrued expenses	`CapitalExpendituresIncurredButNotYetPaid`	$213.00K	USD	1 Quarter
Additions to property and equipment in accounts payable and accrued expenses	`CapitalExpendituresIncurredButNotYetPaid`	$605.00K	USD	1 Quarter
Proceeds from stock option exercises in other current assets	`ProceedsFromStockOptionsExercisedInOtherCurrentAssets`	$6.00K	USD	1 Quarter
Proceeds from stock option exercises in other current assets	`ProceedsFromStockOptionsExercisedInOtherCurrentAssets`	$73.00K	USD	1 Quarter
Public offering costs in accounts payable and accrued expenses	`PublicOfferingCostsInOtherCurrentAssets`	-	USD	1 Quarter
Public offering costs in accounts payable and accrued expenses	`PublicOfferingCostsInOtherCurrentAssets`	$329.00K	USD	1 Quarter
Public offering costs in accounts payable and accrued expenses	`PublicOfferingCostsInAccountsPayableAndAccruedExpenses`	-	USD	1 Quarter
Public offering costs in accounts payable and accrued expenses	`PublicOfferingCostsInAccountsPayableAndAccruedExpenses`	$158.00K	USD	1 Quarter

Comprehensive Income 6 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-66.17M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-90.83M	USD	1 Quarter
Unrealized (loss) gain on available-for-sale securities	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$101.00K	USD	1 Quarter
Unrealized (loss) gain on available-for-sale securities	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$-1.25M	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-66.06M	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-92.08M	USD	1 Quarter

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