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10-K2026-02-12· deepseek-chat

AGIO · Agios Pharmaceuticals, Inc.

0001439222-26-000025

SEC filing

Summary

Agios Pharmaceuticals, Inc. reported a net loss of $412.8 million for fiscal year 2025, driven by significant operating expenses of $526.2 million that far exceeded total product revenue of $54.0 million. The company generated a loss from operations of $472.1 million, though this was partially offset by interest income of $56.4 million and other income of $2.0 million. Cash flow from operations was negative $373.0 million, but the company maintained strong liquidity with total assets of $1.30 billion, including $89.1 million in cash and cash equivalents and $1.08 billion in marketable securities. The balance sheet shows minimal liabilities of $104.1 million against stockholders' equity of $1.19 billion, with an accumulated deficit of $561.7 million. No prior year comparative figures are provided in the source data for year-over-year analysis.

Key takeaways

Full analysis

Performance Summary

Agios Pharmaceuticals reported substantial financial losses for fiscal year 2025, with a net loss of $412.8 million and loss from operations of $472.1 million. The company generated only $54.0 million in total product revenue while incurring $526.2 million in total operating expenses, creating a significant revenue-to-expense gap. Research and development expenses accounted for $339.5 million of operating costs, while selling, general and administrative expenses totaled $180.3 million. The company's net loss per share was $7.00 on both basic and diluted bases, calculated using 58.0 million weighted-average shares. No prior year comparative figures are provided in the source data, preventing year-over-year trend analysis.

Revenue Analysis

The company reported total product revenue, net of $54.0 million for fiscal year 2025. The source data does not provide segment breakdowns, geographic distribution, or product-specific revenue details. No information is available regarding revenue growth drivers, customer concentration, or pricing strategies. The limited revenue disclosure suggests the company may be in a development stage with minimal commercial operations. The absence of segment data indicates the company may operate as a single reporting unit or has not yet established distinct business segments for financial reporting purposes.

Margins & Profitability

Gross margin cannot be calculated from the provided data as only cost of sales ($6.3 million) and total product revenue ($54.0 million) are disclosed, without a clear gross profit figure. Operating margin was deeply negative at approximately -874% based on loss from operations of $472.1 million relative to revenue of $54.0 million. The company's cost structure is heavily weighted toward research and development, which consumed 86% of total revenue. Selling, general and administrative expenses represented 47% of total revenue, indicating significant overhead costs relative to current revenue generation.

Cash Flow & Balance Sheet

The company used $373.0 million in cash from operating activities during fiscal year 2025, primarily due to the net loss of $412.8 million offset by non-cash adjustments including $52.6 million in stock-based compensation. Investing activities provided $377.2 million in cash, mainly from $1.03 billion in proceeds from maturities and sales of marketable securities against $641.8 million in purchases. The balance sheet shows strong liquidity with total current assets of $942.1 million, including $89.1 million in cash and $765.3 million in marketable securities. Total liabilities are minimal at $104.1 million, with stockholders' equity of $1.19 billion and an accumulated deficit of $561.7 million.

Outlook

The source data does not contain management guidance, strategic priorities, or forward-looking statements regarding the company's outlook. No information is provided about pipeline developments, regulatory milestones, or commercial expansion plans. Risk factors, market opportunities, and competitive positioning are not disclosed in the provided financial data. The absence of outlook information suggests this analysis is based solely on historical financial statements without accompanying management discussion and analysis sections that typically contain forward-looking information.