Agios Pharmaceuticals, Inc. AGIO is a development-stage biopharmaceutical company focused on the development of treatments for cancer and rare genetic metabolic disorders.
The company has several interesting candidates in its pipeline. Its cancer pipeline comprises enasidenib (IDH2 mutant inhibitor), AG-120 (IDH1 mutant inhibitor) and AG-881 (pan-IDH mutant inhibitor).
With no approved products in its portfolio, revenues at Agios mainly consist of collaboration revenues under its agreement with Celgene Corporation. Agios is in collaboration with Celgene for AG-221 and AG-881.
Agios’ performance so far has been disappointing with the company missing expectations in three of the last four reported quarters. Overall, the company has delivered an average miss of 77.80%.
Currently, Agios has a Zacks Rank #3 (Hold), but that could definitely change following the company’s earnings report which was just released. We have highlighted some of the key stats from this just-revealed announcement below:
Earnings: Agios posted narrower-than-expected loss in the fourth quarter of 2016. Our consensus called for a loss of $1.55 per share, and the company reported a loss of $1.34.
Revenues: Revenues in the reported quarter also came significantly above expectations. Agios posted revenues of approximately $22.6 million, compared to our consensus estimate of $8 million.
Key Stats: Agios continues to progress with its pipeline. Agios along with Celgene will submitted a new drug application for enasidenib for the treatment of patients with relapsed and/or refractory acute myeloid leukemia in the reported quarter.
Share Price Impact: In-active in pre-market trading.
Check back later for our full write up on AGIO earnings report later!
Just Released – Driverless Cars: Your Roadmap to Mega-Profits Today
In this latest Special Report, Zacks’ Aggressive Growth Strategist Brian Bolan explores a full-blown technological breakthrough in the making – autonomous cars. He also spotlights 8 stocks with tremendous gain potential to feed off this phenomenon. Click to see the stocks right now >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
To read this article on Zacks.com click here.