AGIOS PHARMACEUTICALS, INC. (AGIO) FY2025 10-K Annual Report

Filed: Feb 12, 2026
Health Care
Pharmaceutical PreparationsSEC EDGAR

AGIOS PHARMACEUTICALS, INC. (AGIO) 10-K annual report for fiscal year 2025, filed with SEC EDGAR on Feb 12, 2026. This page provides AI-powered analysis including business overview, management discussion & analysis (MD&A), risk factors, and key financial data such as revenue, net income, gross margin, operating margin, and return on equity (ROE) extracted from XBRL.

AGIOS PHARMACEUTICALS, INC. FY2025 10-K Analysis

Business Overview

  • Core business: Commercial-stage biopharma focused on rare hematology diseases via PK activator small molecules
  • New regulatory approvals for mitapivat: FDA approval of AQVESME™ for thalassemia anemia (Dec 2025), Saudi Arabia approval for PYRUKYND®, EMA positive opinion pending final decision early 2026
  • Strategic shift: Divested oncology business in 2021, monetized vorasidenib milestone and royalty rights for total $1.1B cash inflow by 2024
  • R&D investment milestone: $10M milestone payment to Alnylam in 2025 under license for siRNA candidate AG-236 in polycythemia vera
  • Noteworthy metric: Completed phase 3 SCD trial with mitapivat, 40.6% hemoglobin response vs 2.9% placebo, launched U.S. commercial thalassemia product in Jan 2026

Management Discussion & Analysis

  • Revenue from PYRUKYND® and AQVESME™ product sales began in 2022 and 2026 respectively; milestone income $200M in 2024 from Vorasidenib FDA approval
  • Net income $673.7M in 2024 driven by $1.09B total gain from Vorasidenib royalty rights sale and milestone payment, net loss $412.8M in 2025, net loss $352.1M in 2023
  • Best segment: Oncology contingent payments, $889.1M gain in 2024 from contingent payments sale; Worst segment: ongoing R&D and commercialization expenses driving net losses in 2025
  • Cash inflows include $905M from sale of Vorasidenib Royalty Rights in 2024; R&D expenses include $17.5M upfront license payment plus $10M milestone payment to Alnylam in 2025
  • Future outlook: FDA pre-sNDA meeting Q1 2026 for mitapivat in sickle cell disease; EU approval expected early 2026; continued investment in clinical trials and commercialization expansion

Risk Factors

  • Regulatory risk: FDA REMS requirements for AQVESME™ due to boxed warning on hepatocellular injury risk
  • Macroeconomic risk: geopolitical events like war impacting patient enrollment and clinical trial site operations internationally
  • Supply chain risk: reliance on third-party CROs and contractors with limited control over compliance and timelines
  • Market disruption risk: competition for patient enrollment from other companies’ clinical trials in same indications
  • Financial risk: $130M potential milestone and royalty payments under license agreement with Alnylam for siRNA candidate targeting TMPRSS6

AGIOS PHARMACEUTICALS, INC. FY2025 Key Financial Metrics
XBRL

Revenue

$54M

+48.0% YoY

Net Income

-$413M

-161.3% YoY

Operating Margin

-873.9%

+29260bp YoY

Net Margin

-764.0%

-260994bp YoY

ROE

-34.6%

-7832bp YoY

Total Assets

$1.3B

-22.0% YoY

EPS (Diluted)

$-7.12

-161.2% YoY

Operating Cash Flow

-$373M

+4.3% YoY

Source: XBRL data from AGIOS PHARMACEUTICALS, INC. FY2025 10-K filing on SEC EDGAR. All figures in USD.

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