Agios Pharmaceuticals, Inc. (NASDAQ:AGIO) Files An 8-K Other Events
Item8.01 Other Events.
On March13, 2017, Agios Pharmaceuticals, Inc. (the Company)
issued a press release announcing that Celgene Corporation
(Celgene) has designated the development candidate focused on
methylthioadenosine phosphorylase (MTAP) deleted cancers as a
development candidate under the master research and collaboration
agreement between the Company and Celgene, dated May17, 2016 (the
Agreement). Under the terms of the Agreement, Celgene will pay
Agios an $8 million designation fee for the MTAP pathway program,
which the Company expects to receive in the second quarter of
2017. The full text of the press release issued in connection
with this announcement is attached as Exhibit 99.1 to this
Current Report on Form 8-K and incorporated herein by reference.
The Company expects that the $8 million designation fee will be
deferred and allocated among its performance obligations,
identified as part of the Agreement, and recognized in proportion
to the Companys satisfaction of each performance obligation. The
last of these performance obligations are expected to be fully
satisfied in the fourth quarter of 2022.
Item9.01 Financial Statements and Exhibits.
(d) The following exhibits are included in this report:
Press release issued by Agios Pharmaceuticals, Inc. on March
About Agios Pharmaceuticals, Inc. (NASDAQ:AGIO)
Agios Pharmaceuticals, Inc. is a biopharmaceutical company. The Company is engaged in the discovery and development of orally available small molecule medicines for the treatment of cancer and rare genetic disorders (RGDs), which are a subset of orphan genetic metabolic diseases. Its cancer product candidates are AG-221 and AG-120, which targets mutated isocitrate dehydrogenase 2 and 1, or IDH2 and IDH1, respectively, and AG-881, which targets both mutated IDH1 and mutated IDH2. The lead product candidate in its RGD programs, AG-348, targets pyruvate kinase-R for the treatment of pyruvate kinase deficiency. Its AG-221 is an orally available, selective, inhibitor of the mutated IDH2 protein indicated for the treatment of patients with cancers. Its AG-120 is an orally available, selective, inhibitor of the mutated isocitrate dehydrogenase (IDH1) protein for the treatment of patients with cancers. AG-881 is an orally available, selective, brain-penetrant, pan-IDH mutant inhibitor. Agios Pharmaceuticals, Inc. (NASDAQ:AGIO) Recent Trading Information
Agios Pharmaceuticals, Inc. (NASDAQ:AGIO) closed its last trading session 00.00 at 52.24 with 316,070 shares trading hands.