Agios Pharma (AGIO) Posts Wider Q3 Loss

Agios Pharma (NASDAQ: AGIO) reported Q3 EPS of ($1.08), $0.20 worse than the analyst estimate of ($0.88). Revenue for the quarter came in at $5.8 million versus the consensus estimate of $17.21 million.

Cash, cash equivalents and marketable securities as of September 30, 2015 were $408.0 million, compared to $467.4 million as of December 31, 2014. The decrease was driven by cash used to fund operating activities of approximately $101.2 million, which was offset by funding of approximately $54.8 million made by Celgene during the nine months ended September 30, 2015 related to our collaboration agreements.

"We have made significant progress this year toward realizing our goal of what's possible for patients with our IDH inhibitors, by deploying a comprehensive development strategy of speed and breadth with AG-221 and AG-120 in AML and other cancers," said David Schenkein, M.D., chief executive officer at Agios. "In addition, we are pleased to have selected our fifth molecule, AG-519, for clinical development in PK deficiency. This coupled with DRIVE PK, our ongoing Phase 2 study of AG-348, may optimize our potential to help people with this rare genetic disorder."

For earnings history and earnings-related data on Agios Pharma (AGIO) click here.

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