Agios Pharmaceuticals

Agios Pharmaceuticals Inc. is a public American pharmaceutical company focused on developing small-molecule anti-cancer therapeutics targeting cancer cell metabolism via the growth factor pathway.[2][3] Among the proteins under investigation by the company are IDH1 and IDH2.[4] 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

Agios Pharmaceutical Inc.
TypePublic
NASDAQ: AGIO
Russell 1000 Component
IndustryPharmaceuticals
Founded2008 (2008)
Headquarters
Cambridge, Massachusetts
,
United States
Key people
Jackie Fouse (CEO)
Revenue $118 Million(2019)[1]
Number of employees
536
Websiteagios.com
Footnotes / references
Foundation[2]

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 FDA (Food ad Drug Administrator) approval for its first cancer drug.[9]

In December 2017, the company filed a new drug application, or NDA, with the U.S. Food and Drug Administration, or FDA, for Ivosidenib for the treatment of adult patients with relapsed or refractory acute myeloid leukemia, or R/R AML 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]

Corporate governance

As of April 2017, Agios' CEO was David Schenkein.[9]

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]

References
  1. https://investor.agios.com/news-releases/news-release-details/agios-reports-fourth-quarter-and-full-year-2019-financial
  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. Anton, Ted (2013). "Chapter 13". The Longevity Seekers (Google eBook). University of Chicago Press. p. 163. ISBN 9780226020938.
  4. Pollack, Andrew (February 5, 2012). "Sloan-Kettering Chief Is Accused of Taking Research". The New York Times.
  5. "AGIOS PHARMACEUTICALS, INC". EDGAR. Form 10-K. U.S. Securities and Exchange Commission. March 18, 2014. Commission File Number:001-36014.
  6. Huggett, Brady (December 2013). "Burning Bright". Nat. Biotechnol. 31 (12). pp. 1068–71.
  7. "Celgene, Agios, Launch $1B+ Metabolic Immuno-oncology Alliance - GEN News Highlights - GEN". GEN.
  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.
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