and completed enrollment for Phase 3 RISE UP study.Agios Pharmaceuticals, Inc. (NASDAQ: AGIO) is a biopharmaceutical company focused on developing treatments for genetically defined diseases, including rare diseases and cancer metabolism. AGIO competes with other biotech firms like Vertex Pharmaceuticals and BioMarin Pharmaceutical. The company's recent financial results shed light on its performance and future prospects.
On February 20, 2025, AGIO reported an earnings per share (EPS) of -$1.44, which was better than the estimated EPS of -$1.69. This improvement was highlighted during their fourth quarter 2024 earnings conference call on February 13, 2025. Despite a quarterly loss of $1.44 per share, the company showed progress compared to the $1.72 loss per share from the previous year.
AGIO's revenue performance was strong, with the company reporting $10.73 million, surpassing the estimated $9.35 million. This revenue figure represents an 11.76% increase over the Zacks Consensus Estimate and a significant rise from the $7.1 million reported in the same quarter the previous year. The revenue growth was primarily driven by sales of PYRUKYND, which contributed $10.7 million in the fourth quarter.
The company is also making strides in its product pipeline. AGIO has filed for regulatory approval of Mitapivat (PYRUKYND® for treating alpha- or beta-thalassemia in multiple regions, with a PDUFA goal date set for September 7, 2025. Additionally, the Phase 3 RISE UP study of Mitapivat in sickle cell disease has completed enrollment, with results expected in late 2025. These developments highlight AGIO's commitment to expanding its treatment offerings.
Financially, AGIO maintains a strong position with cash, cash equivalents, and marketable securities totaling $1.5 billion as of December 31, 2024. The company has a low debt-to-equity ratio of 0.037, indicating minimal reliance on debt. AGIO's current ratio of approximately 11.90 suggests robust liquidity, ensuring the company can cover its short-term liabilities effectively.
