The following is a summary of the Agios Pharmaceuticals, Inc. (AGIO) Q1 2024 Earnings Call Transcript:
Financial Performance:
Agios Pharmaceuticals reported net Q1 2024 revenue of $8.2 million from its PYRUKYND drug, an increase from $7.1 million in Q4 2023.
The company had approximately $714.3 million in cash and investments and is anticipating an additional $200 million upon FDA approval of vorasidenib, as part of their divestiture of their oncology business.
Agios has enough cash to last until 2026.
Business Progress:
Agios reported positive data from the Phase 3 ENERGIZE study of mitapivat for non-transfusion-dependent thalassemia and is preparing for a potential launch in the U.S. market.
Anticipated data from the follow-up study, ENERGIZE-T, are expected by Q2 2024 with an FDA filing planned for the end of 2024.
Agios plans to complete the enrollment for the RISE UP study for sickle cell disease by end of 2024. Other studies are ongoing for drugs AG-181 and AG-946 and Agios is set to report top-line data from the ACTIVATE-kids-T study by mid-2024.
More details: Agios Pharmaceuticals IR
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