Agios Pharmaceuticals’ (AGIO) product pipeline includes ivosidenib, which is targeted for mutated IDH1 and AG-881. AG-881 is a brain penetrant pan-IDH mutant inhibitor. In December 2017, Agios Pharmaceuticals submitted a New Drug Application (or NDA) to the FDA for ivosidenib.
Agios Pharmaceuticals’ AG-270 is an inhibitor of MAT2A. The company submitted an Investigational New Drug Application (or IND) for the drug in November 2017. Agios planned to initiate a Phase 1 trial of AG-270 in multiple tumor types in 1Q18.
Agios Pharmaceuticals’ AG-348 is targeted for the treatment of pyruvate kinase deficiency, which is a rare genetic disorder that often results in hemolytic anemia. Agios Pharmaceuticals expects to initiate two global trials of Ag-348 in pyruvate kinase deficiency in 1H2018. The company also expects to initiate a Phase 2 proof-of-concept trial of AG-348 in thalassemia in 4Q18.
In fiscal 2017, Agios Pharmaceuticals generated total revenues of $43.0 million compared with $69.8 million in fiscal 2016. The company derives revenues from collaborations and royalties. Its collaboration revenues decreased from $69.8 million in fiscal 2016 to $41.0 million in fiscal 2017. Its royalty revenues totaled $1.9 million in fiscal 2017. Agios Pharmaceuticals didn’t earn royalty revenues in fiscal 2016.
In fiscal 2017, Agios Pharmaceuticals incurred research and development expenses of $292.7 million compared with $220.2 million in fiscal 2016. The company’s general and administrative expenses increased 40.0% from $50.7 million in fiscal 2016 to $71.1 million in fiscal 2017. This increase was due to launch activities for Idhifa.
As a result of this jump in expenses, Agios Pharmaceuticals incurred an operating loss of $320.7 million in fiscal 2017 compared with $200.9 million in fiscal 2016.
In the final part of this series, we’ll take a look at the cash flows of Agios Pharmaceuticals.