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Agios Pharma (AGIO) Misses Q3 EPS by 5c, Revenues Miss

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November 5, 2020 9:17 AM EST

Agios Pharma (NASDAQ: AGIO) reported Q3 EPS of ($1.43), $0.05 worse than the analyst estimate of ($1.38). Revenue for the quarter came in at $34.71 million versus the consensus estimate of $38.02 million.

THIRD QUARTER 2020 & RECENT HIGHLIGHTS

  • TIBSOVO® (ivosidenib tablets) net sales of $31.7 million, an increase of 15% from the second quarter of 2020.
  • Reported topline mature overall survival results from ClarIDHy Phase 3 study of TIBSOVO® in previously treated IDH1-mutant cholangiocarcinoma patients; submitted final data for presentation at the virtual American Society of Clinical Oncology Gastrointestinal Cancers Symposium (ASCO GI).
  • Withdrew European Marketing Authorization Application (MAA) for TIBSOVO® in IDH1-mutant relapsed or refractory acute myeloid leukemia (AML) as a result of feedback from European Medicine Agency’s (EMA) Committee for Medicinal Products for Human Use (CHMP).
  • Initiated Phase 1 healthy volunteers study of AG-946, a next-generation, orally available, small molecule activator of the metabolic enzyme pyruvate kinase-R (PKR).
  • Appointed Jonathan Biller as chief financial officer, head of legal and corporate affairs.
“In the third quarter, we made significant strides toward executing against our key 2020 priorities and getting our medicines to patients who need them,” said Jackie Fouse, Ph.D., chief executive officer at Agios. “Most notably, we generated mature overall survival data from our Phase 3 ClarIDHy study of TIBSOVO® in previously treated cholangiocarcinoma, prepared for topline data readouts from our two global Phase 3 studies of mitapivat in pyruvate kinase deficiency and advanced our pivotal plans for mitapivat in thalassemia and sickle cell disease. We look forward to building on these achievements with a catalyst-rich fourth quarter and 2021.”

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


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