Agios Pharmaceuticals

Last updated
Agios Pharmaceutical Inc.
Company type Public
Nasdaq:  AGIO
Russell 1000 Component
IndustryPharmaceuticals
Founded2008;16 years ago (2008)
Headquarters,
United States
Key people
Brian Goff (CEO)
RevenueIncrease2.svg $118 Million(2019) [1]
Number of employees
536
Website agios.com
Footnotes /references
Foundation [2]

Agios Pharmaceuticals Inc. is a publicly trading American pharmaceutical company pioneering therapies for genetically defined diseases, with a near-term focus on developing therapies for hemolytic anemias. [3] The company was founded in 2008 (or 2007) [4] by Lewis Cantley, Tak Mak and Craig Thompson. Agios is a Delaware corporation headquartered in Cambridge, Massachusetts. [2] [5] The company tendered an initial public offering in July 2013. [6] :Table 1

Contents

History

In 2012, Agios was named among the defendants in a lawsuit against one of its founders, Craig Thompson, alleging that Thompson used research illegally taken from the Abramson Family Cancer Research Institute in research at Agios. [4]

In May 2016, the company announced it would launch partnership with Celgene, [7] developing metabolic immuno-oncology therapies and licensing AG-221 as well as AG-881 to Celgene, potentially garnering Agios $120 million in drug licensing payments. [8]

In April 2017, the company raised $250 million in a new stock offering in anticipation of approval for its first cancer drug, enasidenib, by the US Food and Drug Administration. [9]

In December 2017, the company filed a New Drug Application with the US FDA for ivosidenib for the treatment of adult patients with relapsed or refractory acute myeloid leukemia with an IDH1 mutation. [10]

In November 2019, Agios announced an underwritten public offering of 8,250,000 shares of common stock at a price of $31.00 per share which would result in approximately $256 million aggregate gross proceeds. [11]

In April 2022, the FDA approved mitapivat as first disease-modifying therapy for hemolytic anemia in adults with pyruvate kinase deficiency. [12]

Corporate governance

As of August 2022, Agios' CEO is Brian Goff. [13]

Agios was established as a private company and converted to a public company with its initial public offering in July 2013 and subsequent listing on NASDAQ. [4] [6]

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References

  1. "Agios Reports Fourth Quarter and Full Year 2019 Financial Results – Agios Pharmaceuticals, Inc".
  2. 1 2 Pfeffer, Cary G. (2012). "The biotechnology sector". In Burns, Lawton R. (ed.). The Business of Healthcare Innovation (Google eBook). Cambridge, United Kingdom: Cambridge University Press. pp. 224, 228. ISBN   9781107024977.
  3. "About Us".
  4. 1 2 3 Pollack, Andrew (February 5, 2012). "Sloan-Kettering Chief Is Accused of Taking Research". The New York Times . Open Access logo PLoS transparent.svg
  5. "AGIOS PHARMACEUTICALS, INC". EDGAR . Form 10-K. U.S. Securities and Exchange Commission. March 18, 2014. Commission File Number:001-36014.
  6. 1 2 Huggett, Brady (December 2013). "Burning Bright". Nat. Biotechnol. Vol. 31, no. 12. pp. 1068–71. Open Access logo PLoS transparent.svg
  7. "Celgene, Agios, Launch $1B+ Metabolic Immuno-oncology Alliance - GEN News Highlights - GEN". GEN. 17 May 2016.
  8. Williams, Sean (3 June 2016). "3 Big Reasons Agios Pharmaceuticals, Inc. Has Plunged 38% in 2016". The Moteley Fool. Retrieved 13 July 2018.
  9. "Agios bags $250M in offering as cancer drug speeds toward approval". Boston Business Journal. April 19, 2017.
  10. Agios Pharmaceuticals, Inc. Form 10-K for the fiscal year ended December 31, 2017.
  11. "Agios Announces Pricing of $256 Million Public Offering of Common Stock". www.nasdaq.com. Retrieved 2020-03-12.
  12. "Agios Announces FDA Approval of PYRUKYND® (mitapivat) as First Disease-Modifying Therapy for Hemolytic Anemia in Adults with Pyruvate Kinase Deficiency". Agios. Cambridge, MA. 17 February 2022. Retrieved 24 April 2023.
  13. "Agios Appoints Brian Goff as Chief Executive Officer".