Agios Pharma Q3 product revenue surges; will have cut 100+ R&D jobs in 2026
Overview
U.S. rare disease drugmaker's Q3 product revenue rose more than fourfold yr/yr, beating analyst expectations
Net loss for Q3 narrowed compared to the prior year
Company cut R&D headcount by over 35% in 2026 to reduce costs
Outlook
Agios targets non-GAAP profitability in 2028
FDA PDUFA goal date for mitapivat in sickle cell disease set for Feb 1, 2027
Company sees expanding AQVESME demand in thalassemia, including non-transfusion dependent patients
Result Drivers
U.S. LAUNCH DEMAND - Co said Q3 revenue growth was driven by U.S. commercial launch of AQVESME in thalassemia and expanding patient demand
EU APPROVAL IMPACT - Ex-U.S. revenue growth attributed to early access programs in Europe after EU approval of PYRUKYND in thalassemia
COMMERCIAL LAUNCH COSTS - Higher SG&A expenses due to increased activity supporting AQVESME launch and preparation for potential mitapivat launch in sickle cell disease
Company press release:
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 Product Revenue | Beat | $55.39 mln | $53.21 mln (10 Analysts) |
Q3 Loss Per Share | $1.09 | ||
Q3 Net Loss | $65.05 mln |
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 7 "strong buy" or "buy", 3 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the biotechnology & medical research peer group is "buy"
Wall Street's median 12-month price target for Agios Pharmaceuticals, Inc. is $50.00, about 59.3% above its November 4 closing price of $31.38
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)