10-Q Filing

AGIOS PHARMACEUTICALS, INC. CIK: 1439222 Q1 2019

Filing Information

Form Type	10-Q
Accession Number	`0001439222-19-000009`
Period End Date	20190331
Filing Date	20190502
Fiscal Year	2019
Fiscal Period	Q1
XBRL Instance	agio-20190331_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 77 Income Statement 20 Cash Flow Statement 64 Stockholders Equity 19 Comprehensive Income 6

Balance Sheet 77 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`	$70.50M	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`	$103.44M	USD	Point-in-time
Marketable securities	`AvailableForSaleSecuritiesCurrent`	$514.80M	USD	Point-in-time
Preferred stock, shares outstanding (in shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Preferred stock, shares outstanding (in shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Marketable securities	`AvailableForSaleSecuritiesCurrent`	$421.11M	USD	Point-in-time
Accounts receivable, net	`ContractWithCustomerAssetNetCurrent`	$5.08M	USD	Point-in-time
Common stock, par value (in usd per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, par value (in usd per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Accounts receivable, net	`ContractWithCustomerAssetNetCurrent`	$4.36M	USD	Point-in-time
Collaboration receivable related party	`CollaborationReceivableDuefromRelatedPartiesCurrent`	$2.46M	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	125.00M	shares	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	125.00M	shares	Point-in-time
Collaboration receivable related party	`CollaborationReceivableDuefromRelatedPartiesCurrent`	$2.32M	USD	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	58.66M	shares	Point-in-time
Collaboration receivable other	`CollaborationReceivableOtherCurrent`	$670.00K	USD	Point-in-time
Collaboration receivable other	`CollaborationReceivableOtherCurrent`	$1.64M	USD	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	58.22M	shares	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	58.22M	shares	Point-in-time
Royalty receivable related party	`RoyaltyReceivableDuefromRelatedPartiesCurrent`	$2.20M	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	58.66M	shares	Point-in-time
Royalty receivable related party	`RoyaltyReceivableDuefromRelatedPartiesCurrent`	$2.23M	USD	Point-in-time
Inventory	`InventoryNet`	$869.00K	USD	Point-in-time
Inventory	`InventoryNet`	$2.33M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$19.70M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$17.17M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$613.78M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$557.10M	USD	Point-in-time
Marketable securities	`AvailableForSaleSecuritiesNoncurrent`	$183.23M	USD	Point-in-time
Marketable securities	`AvailableForSaleSecuritiesNoncurrent`	$220.12M	USD	Point-in-time
Operating lease assets	`OperatingLeaseRightOfUseAsset`	$57.77M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$23.97M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$24.32M	USD	Point-in-time
Other non-current assets	`OtherAssetsNoncurrent`	$60.00K	USD	Point-in-time
Other non-current assets	`OtherAssetsNoncurrent`	$238.00K	USD	Point-in-time
Total assets	`Assets`	$858.46M	USD	Point-in-time
Total assets	`Assets`	$822.13M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$12.41M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$17.88M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$37.20M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$42.15M	USD	Point-in-time
Deferred revenue related party	`ContractWithCustomerLiabilityCurrent`	$22.17M	USD	Point-in-time
Deferred revenue related party	`ContractWithCustomerLiabilityCurrent`	$32.71M	USD	Point-in-time
Operating lease liabilities	`OperatingLeaseLiabilityCurrent`	$9.13M	USD	Point-in-time
Deferred rent	`DeferredRentCreditCurrent`	$766.00K	USD	Point-in-time
Deferred rent	`DeferredRentCreditCurrent`	-	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$80.91M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$93.50M	USD	Point-in-time
Deferred revenue, net of current portion related party	`ContractWithCustomerLiabilityNoncurrent`	$54.96M	USD	Point-in-time
Deferred revenue, net of current portion related party	`ContractWithCustomerLiabilityNoncurrent`	$59.81M	USD	Point-in-time
Operating lease liabilities, net of current portion	`OperatingLeaseLiabilityNoncurrent`	$66.01M	USD	Point-in-time
Deferred rent, net of current portion	`DeferredRentCreditNoncurrent`	-	USD	Point-in-time
Deferred rent, net of current portion	`DeferredRentCreditNoncurrent`	$17.61M	USD	Point-in-time
Total liabilities	`Liabilities`	$170.92M	USD	Point-in-time
Total liabilities	`Liabilities`	$201.87M	USD	Point-in-time
Preferred stock, $0.001 par value; 25,000,000 shares authorized; no shares issued or outstanding at March 31, 2019 and December 31, 2018	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, $0.001 par value; 25,000,000 shares authorized; no shares issued or outstanding at March 31, 2019 and December 31, 2018	`PreferredStockValue`	-	USD	Point-in-time
Common stock, $0.001 par value; 125,000,000 shares authorized; 58,659,821 and 58,218,653 shares issued and outstanding at March 31, 2019 and December 31, 2018, respectively	`CommonStockValue`	$58.00K	USD	Point-in-time
Common stock, $0.001 par value; 125,000,000 shares authorized; 58,659,821 and 58,218,653 shares issued and outstanding at March 31, 2019 and December 31, 2018, respectively	`CommonStockValue`	$59.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$1.79B	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$1.82B	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax`	$-2.17M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax`	$-484.00K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-1.20B	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-1.10B	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$865.59M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$375.50M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$620.26M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$687.54M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$822.13M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$858.46M	USD	Point-in-time

Income Statement 20 line items

Line Item	Tag	Value	Unit	Period
Total revenue	`RevenueFromContractWithCustomerExcludingAssessedTax`	$30.23M	USD	1 Quarter
Total revenue	`RevenueFromContractWithCustomerExcludingAssessedTax`	$8.76M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$334.00K	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	-	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$78.22M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$95.58M	USD	1 Quarter
Selling, general and administrative	`GeneralAndAdministrativeExpense`	$24.55M	USD	1 Quarter
Selling, general and administrative	`GeneralAndAdministrativeExpense`	$31.79M	USD	1 Quarter
Total cost and expenses	`OperatingExpenses`	$102.77M	USD	1 Quarter
Total cost and expenses	`OperatingExpenses`	$127.71M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-94.01M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-97.48M	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$4.41M	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$3.19M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-93.08M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-90.83M	USD	1 Quarter
Net loss per share basic and diluted (in usd per share)	`EarningsPerShareBasicAndDiluted`	$-1.59	USD	1 Quarter
Net loss per share basic and diluted (in usd per share)	`EarningsPerShareBasicAndDiluted`	$-1.63	USD	1 Quarter
Weighted-average number of common shares used in computing net loss per share basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	55.69M	shares	1 Quarter
Weighted-average number of common shares used in computing net loss per share basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	58.45M	shares	1 Quarter

Cash Flow Statement 64 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-93.08M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-90.83M	USD	1 Quarter
Depreciation	`Depreciation`	$1.73M	USD	1 Quarter
Depreciation	`Depreciation`	$2.00M	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$14.52M	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$18.11M	USD	1 Quarter
Net amortization of premium and discounts on investments	`AccretionAmortizationOfDiscountsAndPremiumsInvestments`	$1.13M	USD	1 Quarter
Net amortization of premium and discounts on investments	`AccretionAmortizationOfDiscountsAndPremiumsInvestments`	$406.00K	USD	1 Quarter
Non-cash operating lease expense	`OperatingLeaseRightOfUseAssetAmortization`	$2.08M	USD	1 Quarter
Accounts receivable, net	`IncreaseDecreaseInContractWithCustomerAsset`	$-721.00K	USD	1 Quarter
Accounts receivable, net	`IncreaseDecreaseInContractWithCustomerAsset`	-	USD	1 Quarter
Collaboration receivable related party	`IncreaseDecreaseinCollaborationReceivableDuefromRelatedPartiesCurrent`	$-143.00K	USD	1 Quarter
Collaboration receivable related party	`IncreaseDecreaseinCollaborationReceivableDuefromRelatedPartiesCurrent`	$1.06M	USD	1 Quarter
Collaboration receivable other	`IncreaseDecreaseinCollaborationReceivableOtherCurrent`	$970.00K	USD	1 Quarter
Collaboration receivable other	`IncreaseDecreaseinCollaborationReceivableOtherCurrent`	-	USD	1 Quarter
Royalty receivable related party	`IncreaseDecreaseinRoyaltyReceivableDuefromRelatedPartiesCurrent`	$195.00K	USD	1 Quarter
Royalty receivable related party	`IncreaseDecreaseinRoyaltyReceivableDuefromRelatedPartiesCurrent`	$-34.00K	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$1.46M	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	-	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`	$2.17M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-4.47M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-4.94M	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$-17.14M	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$-5.10M	USD	1 Quarter
Deferred revenue related party	`IncreaseDecreaseInContractWithCustomerLiabilityRelatedParty`	$-15.39M	USD	1 Quarter
Deferred revenue related party	`IncreaseDecreaseInContractWithCustomerLiabilityRelatedParty`	$-3.14M	USD	1 Quarter
Operating lease liabilities	`IncreaseDecreaseInOperatingLeaseLiability`	$-2.13M	USD	1 Quarter
Deferred rent	`IncreaseDecreaseInDeferredCharges`	$-96.00K	USD	1 Quarter
Deferred rent	`IncreaseDecreaseInDeferredCharges`	-	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-99.00M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-103.27M	USD	1 Quarter
Purchases of marketable securities	`PaymentsToAcquireMarketableSecurities`	$77.42M	USD	1 Quarter
Purchases of marketable securities	`PaymentsToAcquireMarketableSecurities`	$330.97M	USD	1 Quarter
Proceeds from maturities and sales of marketable securities	`ProceedsFromSaleAndMaturityOfMarketableSecurities`	$210.81M	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`	$2.04M	USD	1 Quarter
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-167.53M	USD	1 Quarter
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$131.35M	USD	1 Quarter
Payment of public offering costs, net of reimbursements	`PaymentsOfStockIssuanceCosts`	$188.00K	USD	1 Quarter
Payment of public offering costs, net of reimbursements	`PaymentsOfStockIssuanceCosts`	-	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
Net proceeds from stock option exercises and employee stock purchase plan	`ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions`	$4.86M	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`	$4.86M	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$528.28M	USD	1 Quarter
Net change in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$32.94M	USD	1 Quarter
Net change in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$261.75M	USD	1 Quarter
Cash and cash equivalents at beginning of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$102.72M	USD	Point-in-time
Cash and cash equivalents at beginning of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$364.47M	USD	Point-in-time
Cash and cash equivalents at beginning of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$70.50M	USD	Point-in-time
Cash and cash equivalents at beginning of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$103.44M	USD	Point-in-time
Cash and cash equivalents at end of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$102.72M	USD	Point-in-time
Cash and cash equivalents at end of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$364.47M	USD	Point-in-time
Cash and cash equivalents at end of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$70.50M	USD	Point-in-time
Cash and cash equivalents at end of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$103.44M	USD	Point-in-time
Additions to property and equipment in accounts payable and accrued expenses	`CapitalExpendituresIncurredButNotYetPaid`	$605.00K	USD	1 Quarter
Additions to property and equipment in accounts payable and accrued expenses	`CapitalExpendituresIncurredButNotYetPaid`	$727.00K	USD	1 Quarter
Proceeds from stock option exercises in other current assets	`ProceedsFromStockOptionsExercisedInOtherCurrentAssets`	$1.15M	USD	1 Quarter
Proceeds from stock option exercises in other current assets	`ProceedsFromStockOptionsExercisedInOtherCurrentAssets`	$73.00K	USD	1 Quarter
Public offering costs in other current assets, net of amounts in accounts payable and accrued expenses	`PublicOfferingCostsInOtherAssets`	-	USD	1 Quarter
Public offering costs in other current assets, net of amounts in accounts payable and accrued expenses	`PublicOfferingCostsInOtherAssets`	$158.00K	USD	1 Quarter

Stockholders Equity 19 line items

Line Item	Tag	Value	Unit	Period
Beginning balance	`StockholdersEquity`	$865.59M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$375.50M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$620.26M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$687.54M	USD	Point-in-time
Unrealized gain (loss) on available-for-sale securities	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$-1.25M	USD	1 Quarter
Unrealized gain (loss) on available-for-sale securities	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$1.69M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-93.08M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-90.83M	USD	1 Quarter
Stock-based compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$14.52M	USD	1 Quarter
Stock-based compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$18.11M	USD	1 Quarter
Issuance of common stock under stock incentive and employee stock purchase plan (in shares)	`StockIssuedDuringPeriodSharesStockOptionsExercised`	106,859.00	shares	1 Quarter
Issuance of common stock under stock incentive and employee stock purchase plans	`StockIssuedDuringPeriodValueStockOptionsExercised`	$6.00M	USD	1 Quarter
Issuance of common stock under stock incentive and employee stock purchase plans	`StockIssuedDuringPeriodValueStockOptionsExercised`	$12.33M	USD	1 Quarter
Issuance of common stock for follow-on offering	`StockIssuedDuringPeriodValueNewIssues`	$516.21M	USD	1 Quarter
Other	`StockholdersEquityOther`	$-346.00K	USD	1 Quarter
Ending balance	`StockholdersEquity`	$865.59M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$375.50M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$620.26M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$687.54M	USD	Point-in-time

Comprehensive Income 6 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-93.08M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-90.83M	USD	1 Quarter
Unrealized gain (loss) on available-for-sale securities	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$-1.25M	USD	1 Quarter
Unrealized gain (loss) on available-for-sale securities	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$1.69M	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-92.08M	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-91.39M	USD	1 Quarter

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