Agios Pharma Q3 product revenue surges; will have cut 100+ R&D jobs in 2026
AGIO•AGIO•AGIO•AGIO•Agios Pharma's third-quarter product revenue rose more than fourfold year over year to $55.39 million, beating the $53.21 million analyst estimate. The company will have cut more than 35% of its R&D headcount in 2026 and targets non-GAAP profitability in 2028.
Agios reported third-quarter product revenue of $55.39 million, up more than fourfold year over year and above the $53.21 million analyst consensus. The company attributed growth to the U.S. AQVESME launch in thalassemia and early access programs in Europe following approval of PYRUKYND for thalassemia.
Agios reported a third-quarter net loss of $65.05 million, or $1.09 per share. It will have reduced R&D headcount by more than 35% in 2026 to reduce costs, and targets non-GAAP profitability in 2028.
The FDA's PDUFA goal date for mitapivat in sickle cell disease is February 1, 2027. Agios cited higher selling, general and administrative expenses related to the AQVESME launch and preparation for a potential mitapivat launch.
