10-Q Filing

AGIOS PHARMACEUTICALS, INC. CIK: 1439222 Q1 2020

Filing Information

Form Type	10-Q
Accession Number	`0001439222-20-000039`
Period End Date	20200331
Filing Date	20200430
Fiscal Year	2020
Fiscal Period	Q1
XBRL Instance	agio-20200331_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 82 Income Statement 20 Cash Flow Statement 64 Stockholders Equity 17 Comprehensive Income 6

Balance Sheet 82 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
Preferred stock, shares issued (in shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$80.93M	USD	Point-in-time
Preferred stock, shares issued (in shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$89.09M	USD	Point-in-time
Marketable securities	`AvailableForSaleSecuritiesDebtSecuritiesCurrent`	$439.53M	USD	Point-in-time
Marketable securities	`AvailableForSaleSecuritiesDebtSecuritiesCurrent`	$483.95M	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
Accounts receivable, net	`ContractWithCustomerAssetNetCurrent`	$8.95M	USD	Point-in-time
Common stock, par value (in usd per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Accounts receivable, net	`ContractWithCustomerAssetNetCurrent`	$11.81M	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
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	125.00M	shares	Point-in-time
Collaboration receivable related party	`CollaborationReceivableDuefromRelatedPartiesCurrent`	$2.58M	USD	Point-in-time
Collaboration receivable related party	`CollaborationReceivableDuefromRelatedPartiesCurrent`	$1.54M	USD	Point-in-time
Collaboration receivable other	`CollaborationReceivableOtherCurrent`	$2.03M	USD	Point-in-time
Collaboration receivable other	`CollaborationReceivableOtherCurrent`	$1.93M	USD	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	68.79M	shares	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	68.40M	shares	Point-in-time
Royalty receivable related party	`RoyaltyReceivableDuefromRelatedPartiesCurrent`	$2.90M	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	68.40M	shares	Point-in-time
Royalty receivable related party	`RoyaltyReceivableDuefromRelatedPartiesCurrent`	$3.30M	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	68.79M	shares	Point-in-time
Inventory	`InventoryNet`	$9.78M	USD	Point-in-time
Inventory	`InventoryNet`	$7.33M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$29.15M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$24.18M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$611.70M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$587.27M	USD	Point-in-time
Marketable securities	`AvailableForSaleSecuritiesDebtSecuritiesNoncurrent`	$84.50M	USD	Point-in-time
Marketable securities	`AvailableForSaleSecuritiesDebtSecuritiesNoncurrent`	$152.93M	USD	Point-in-time
Operating lease assets	`OperatingLeaseRightOfUseAsset`	$91.44M	USD	Point-in-time
Operating lease assets	`OperatingLeaseRightOfUseAsset`	$93.64M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$31.47M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$33.84M	USD	Point-in-time
Financing lease assets	`FinanceLeaseRightOfUseAsset`	$993.00K	USD	Point-in-time
Financing lease assets	`FinanceLeaseRightOfUseAsset`	$881.00K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	-	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$1.80M	USD	Point-in-time
Total assets	`Assets`	$890.74M	USD	Point-in-time
Total assets	`Assets`	$799.74M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$18.71M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$21.90M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$39.63M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$53.14M	USD	Point-in-time
Deferred revenue related party	`ContractWithCustomerLiabilityCurrent`	$4.75M	USD	Point-in-time
Deferred revenue related party	`ContractWithCustomerLiabilityCurrent`	$10.93M	USD	Point-in-time
Operating lease liabilities	`OperatingLeaseLiabilityCurrent`	$6.64M	USD	Point-in-time
Operating lease liabilities	`OperatingLeaseLiabilityCurrent`	$6.47M	USD	Point-in-time
Financing lease liabilities	`DeferredRentCreditCurrent`	$306.00K	USD	Point-in-time
Financing lease liabilities	`DeferredRentCreditCurrent`	$273.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$69.86M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$92.89M	USD	Point-in-time
Deferred revenue, net of current portion related party	`ContractWithCustomerLiabilityNoncurrent`	-	USD	Point-in-time
Deferred revenue, net of current portion related party	`ContractWithCustomerLiabilityNoncurrent`	$50.58M	USD	Point-in-time
Operating lease liabilities, net of current portion	`OperatingLeaseLiabilityNoncurrent`	$104.01M	USD	Point-in-time
Operating lease liabilities, net of current portion	`OperatingLeaseLiabilityNoncurrent`	$106.07M	USD	Point-in-time
Financing lease liabilities, net of current portion	`DeferredRentCreditNoncurrent`	$673.00K	USD	Point-in-time
Financing lease liabilities, net of current portion	`DeferredRentCreditNoncurrent`	$571.00K	USD	Point-in-time
Total liabilities	`Liabilities`	$250.21M	USD	Point-in-time
Total liabilities	`Liabilities`	$174.44M	USD	Point-in-time
Preferred stock, $0.001 par value; 25,000,000 shares authorized; no shares issued or outstanding at March 31, 2020 and December 31, 2019	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, $0.001 par value; 25,000,000 shares authorized; no shares issued or outstanding at March 31, 2020 and December 31, 2019	`PreferredStockValue`	-	USD	Point-in-time
Common stock, $0.001 par value; 125,000,000 shares authorized; 68,789,925 and 68,401,105 shares issued and outstanding at March 31, 2020 and December 31, 2019, respectively	`CommonStockValue`	$68.00K	USD	Point-in-time
Common stock, $0.001 par value; 125,000,000 shares authorized; 68,789,925 and 68,401,105 shares issued and outstanding at March 31, 2020 and December 31, 2019, respectively	`CommonStockValue`	$69.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$2.18B	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$2.16B	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax`	$202.00K	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax`	$74.00K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-1.56B	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-1.52B	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$687.54M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$640.53M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$620.26M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$625.30M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$890.74M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$799.74M	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`	$87.10M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$533.00K	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$334.00K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$95.58M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$91.26M	USD	1 Quarter
Selling, general and administrative	`GeneralAndAdministrativeExpense`	$38.50M	USD	1 Quarter
Selling, general and administrative	`GeneralAndAdministrativeExpense`	$31.79M	USD	1 Quarter
Total cost and expenses	`CostsAndExpenses`	$130.29M	USD	1 Quarter
Total cost and expenses	`CostsAndExpenses`	$127.71M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-97.48M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-43.19M	USD	1 Quarter
Interest income, net	`InvestmentIncomeInterest`	$4.41M	USD	1 Quarter
Interest income, net	`InvestmentIncomeInterest`	$2.94M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-40.26M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-93.08M	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`	$-0.59	USD	1 Quarter
Weighted-average number of common shares used in computing net loss per share basic and diluted (in usd per share)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	68.61M	shares	1 Quarter
Weighted-average number of common shares used in computing net loss per share basic and diluted (in usd per share)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	58.45M	shares	1 Quarter

Cash Flow Statement 64 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-40.26M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-93.08M	USD	1 Quarter
Depreciation	`Depreciation`	$2.00M	USD	1 Quarter
Depreciation	`Depreciation`	$2.47M	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$19.69M	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$18.11M	USD	1 Quarter
Net accretion of premium and discounts on investments	`AccretionAmortizationOfDiscountsAndPremiumsInvestments`	$1.13M	USD	1 Quarter
Net accretion of premium and discounts on investments	`AccretionAmortizationOfDiscountsAndPremiumsInvestments`	$-126.00K	USD	1 Quarter
Non-cash operating lease expense	`OperatingLeaseRightOfUseAssetAmortization`	$2.20M	USD	1 Quarter
Non-cash operating lease expense	`OperatingLeaseRightOfUseAssetAmortization`	$2.08M	USD	1 Quarter
Accounts receivable, net	`IncreaseDecreaseInContractWithCustomerAsset`	$2.86M	USD	1 Quarter
Accounts receivable, net	`IncreaseDecreaseInContractWithCustomerAsset`	$-721.00K	USD	1 Quarter
Collaboration receivable related party	`IncreaseDecreaseinCollaborationReceivableDuefromRelatedPartiesCurrent`	$-143.00K	USD	1 Quarter
Collaboration receivable related party	`IncreaseDecreaseinCollaborationReceivableDuefromRelatedPartiesCurrent`	$1.04M	USD	1 Quarter
Collaboration receivable other	`IncreaseDecreaseinCollaborationReceivableOtherCurrent`	$105.00K	USD	1 Quarter
Collaboration receivable other	`IncreaseDecreaseinCollaborationReceivableOtherCurrent`	$970.00K	USD	1 Quarter
Royalty receivable related party	`IncreaseDecreaseinRoyaltyReceivableDuefromRelatedPartiesCurrent`	$-34.00K	USD	1 Quarter
Royalty receivable related party	`IncreaseDecreaseinRoyaltyReceivableDuefromRelatedPartiesCurrent`	$400.00K	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$2.45M	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$1.46M	USD	1 Quarter
Prepaid expenses and other current and non-current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$6.77M	USD	1 Quarter
Prepaid expenses and other current and non-current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$2.17M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-2.01M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-4.94M	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$-5.10M	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$-14.97M	USD	1 Quarter
Deferred revenue related party	`IncreaseDecreaseInContractWithCustomerLiabilityRelatedParty`	$-56.77M	USD	1 Quarter
Deferred revenue related party	`IncreaseDecreaseInContractWithCustomerLiabilityRelatedParty`	$-15.39M	USD	1 Quarter
Operating lease liabilities	`IncreaseDecreaseInOperatingLeaseLiability`	$-2.13M	USD	1 Quarter
Operating lease liabilities	`IncreaseDecreaseInOperatingLeaseLiability`	$-2.23M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-105.36M	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`	$54.91M	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`	$167.50M	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$2.04M	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$4.46M	USD	1 Quarter
Net cash provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$131.35M	USD	1 Quarter
Net cash provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$108.14M	USD	1 Quarter
Payments on financing lease obligations	`FinanceLeasePrincipalPayments`	$80.00K	USD	1 Quarter
Payments on financing lease obligations	`FinanceLeasePrincipalPayments`	-	USD	1 Quarter
Net proceeds from stock option exercises and employee stock purchase plan	`ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions`	$5.46M	USD	1 Quarter
Net proceeds from stock option exercises and employee stock purchase plan	`ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions`	$4.86M	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$5.38M	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$4.86M	USD	1 Quarter
Net change in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$32.94M	USD	1 Quarter
Net change in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$8.16M	USD	1 Quarter
Cash and cash equivalents at beginning of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$80.93M	USD	Point-in-time
Cash and cash equivalents at beginning of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$89.09M	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 beginning of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$70.50M	USD	Point-in-time
Cash and cash equivalents at end of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$80.93M	USD	Point-in-time
Cash and cash equivalents at end of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$89.09M	USD	Point-in-time
Cash and cash equivalents at end of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$103.44M	USD	Point-in-time
Cash and cash equivalents at end of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$70.50M	USD	Point-in-time
Additions to property and equipment in accounts payable and accrued expenses	`CapitalExpendituresIncurredButNotYetPaid`	$727.00K	USD	1 Quarter
Additions to property and equipment in accounts payable and accrued expenses	`CapitalExpendituresIncurredButNotYetPaid`	$5.44M	USD	1 Quarter
Proceeds from stock option exercises in other current assets	`ProceedsFromStockOptionsExercisedInOtherCurrentAssets`	-	USD	1 Quarter
Proceeds from stock option exercises in other current assets	`ProceedsFromStockOptionsExercisedInOtherCurrentAssets`	$1.15M	USD	1 Quarter
Operating lease liabilities arising from obtaining operating lease assets	`RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability`	-	USD	1 Quarter
Operating lease liabilities arising from obtaining operating lease assets	`RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability`	-	USD	1 Quarter
Financing lease liabilities arising from obtaining financing lease assets	`RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability`	-	USD	1 Quarter
Financing lease liabilities arising from obtaining financing lease assets	`RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability`	-	USD	1 Quarter

Stockholders Equity 17 line items

Line Item	Tag	Value	Unit	Period
Beginning balance	`StockholdersEquity`	$687.54M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$640.53M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$620.26M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$625.30M	USD	Point-in-time
Common stock issued under stock incentive plan and ESPP (in shares)	`StockIssuedDuringPeriodSharesStockOptionsExercised`	133,256.00	shares	1 Quarter
Common stock issued under stock incentive plan and ESPP	`StockIssuedDuringPeriodValueStockOptionsExercised`	$5.46M	USD	1 Quarter
Common stock issued under stock incentive plan and ESPP	`StockIssuedDuringPeriodValueStockOptionsExercised`	$6.00M	USD	1 Quarter
Stock-based compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$18.11M	USD	1 Quarter
Stock-based compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$19.69M	USD	1 Quarter
Other comprehensive income (loss)	`OtherComprehensiveIncomeLossNetOfTax`	$1.69M	USD	1 Quarter
Other comprehensive income (loss)	`OtherComprehensiveIncomeLossNetOfTax`	$-128.00K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-40.26M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-93.08M	USD	1 Quarter
Ending balance	`StockholdersEquity`	$687.54M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$640.53M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$620.26M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$625.30M	USD	Point-in-time

Comprehensive Income 6 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-40.26M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-93.08M	USD	1 Quarter
Unrealized (loss) gain on available-for-sale securities	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$1.69M	USD	1 Quarter
Unrealized (loss) gain on available-for-sale securities	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$-128.00K	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-40.38M	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.