Agios Pharma (AGIO) Posts Smaller Q1 Loss on Higher Revenues

Agios Pharma (NASDAQ: AGIO) reported Q1 EPS of ($0.59), $1.08 better than the analyst estimate of ($1.67). Revenue for the quarter came in at $87.1 million versus the consensus estimate of $30.83 million.

“Though there is no modern playbook for a crisis like the COVID-19 pandemic, we moved quickly to reduce the risk of our team’s and communities’ exposure to the virus and took action to enable uninterrupted access to our commercial and clinical medicines for the patients who are counting on us,” said Jackie Fouse, Ph.D., chief executive officer at Agios.

“Despite the challenges we faced in the first quarter in the wake of the COVID-19 pandemic, we made significant clinical and commercial progress, including completing enrollment in the ACTIVATE pivotal trial of mitapivat in PK deficiency, delivering strong TIBSOVO® performance and achieving key U.S. and EU regulatory milestones. We have also made important resource allocation decisions with the goal of delivering on our key business objectives while conserving cash and increasing our financial flexibility,” continued Dr. Fouse. “Through these efforts, we remain on track to achieve our Agios 2025 strategic vision. As we have all worked to adapt to these unexpected and trying circumstances, the teamwork and resilience demonstrated by my colleagues has truly been remarkable and provides confidence that we will come out of these challenging times even stronger than we were before.”

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

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