Agios Pharmaceuticals, Inc. (AGIO - Free Report) is a development-stage biopharmaceutical company focused on the development of treatments for cancer and rare genetic metabolic disorders.
Agios received FDA approval for Idhifa (enasidenib) in August 2017 for the treatment of adult patients with relapsed or refractory AML (R/R AML) with an isocitrate dehydrogenase-2 (IDH2) mutation. It is the first FDA-approved therapy for the given indication.
The company has several interesting candidates in its pipeline. Promising candidates in cancer pipeline includes IDH1 mutant inhibitor, AG-120 (ivosidenib) and a pan-IDH mutant inhibitor, AG-881. In December 2017, Agios submitted a new drug application (NDA) to the FDA for AG-120 which has been developed for treating patients with R/R AML and an IDH1 mutation.
Agios’ earnings performance so far has been strong with the company beating expectations in three of the last four reported quarters and missing in the other. Overall, the company has delivered an average positive beat of 4.48%.
Currently, Agios has a Zacks Rank #3 (Hold), but that could definitely change following the company’s earnings report which was just released. We have highlighted some of the key stats from this just-revealed announcement below:
Loss Wider: Agios posted wider-than-expected loss in the fourth quarter of 2017. Our consensus called for a loss of $1.65 per share, and the company reported a loss of $1.81. Reported loss was also wider than the year ago figure of $1.34.
Revenues Miss: Revenues in the reported quarter also came below expectations. Agios posted revenues of approximately $9.8 million, compared to our consensus estimate of $16 million. The revenues significantly decreased 56.6% from year ago figure of $22.6 million.
Key Stats: Research & development expenses were up 19.3% year over year to $77.2 million. General and administrative expenses increased 47.4% year over year to $22.7 million.
Share Price Impact: In-active in pre-market trading.
Check back later for our full write up on AGIO earnings report later!
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