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Agios (AGIO) Reports Wider-than-Expected Loss in Q3

Agios Pharmaceuticals, Inc.AGIO is a development-stage biopharmaceutical company with a focus on the development of a potential treatment for cancer and rare genetic disorders of metabolism. This Cambridge, MA-based company has several early stage candidates in its pipeline.

The company's pipeline include AG-221 for IDH2-mutant positive hematologic malignancies (phase I) and IDH2-mutant positive solid tumors (phase I), AG-120 for IDH1-mutant positive hematologic malignancies (phase I) and IDH1-mutant positive solid tumors (phase I), AG-881 for solid tumors with IDH mutation (phase I) and AG-348 for pyruvate kinase deficiency (phase I).

AG-221 is also being evaluated in a phase III study to compare the efficacy and safety of the candidate with conventional care regimens. The study is being conducted in patients, above 60 years, with IDH2 mutant-positive acute myeloid leukemia (AML) who is refractory to or relapsed after second- or third-line therapy.

Revenues at Agios mainly consist of collaboration revenues under its agreement with Celgene Corporation. Agios is in collaboration with Celgene for AG-221, AG-120 and AG-881.

With Agios not having any approved products in its portfolio, investor focus should remain on pipeline updates since a number of pipeline related activities are lined up for the rest of 2015.

Currently, Agios has a Zacks Rank #4 (Sell), 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:

Earnings: Agios posted wider-than-expected quarterly loss. Our consensus called for a loss of 89 cents per share, and the company reported a loss of $1.07 per share.

Revenue: Revenues also missed expectations. Agios posted revenues of $5.5 million, compared to our consensus estimate of $13 million.

Key Stats: Agios continues to progress with its pipeline. The company intends to initiate a phase Ib study with either AG-221 or AG-120 along with a standard induction and consolidation chemotherapy in patients who have been newly diagnosed with AML and are eligible for intensive chemotherapy. This study is expected to be initiated by 2015-end. The company also intends to initiate a phase I/II combination study with either AG-221 or AG-120 with Celgene's Vidaza in newly diagnosed AML patients who are not eligible for intensive chemotherapy in the first quarter of 2016.

Check back later for our full write up on earnings report later!

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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