Agios Pharma Q3 product revenue surges; will have cut 100+ R&D jobs in 2026

Overview

• U.S. rare disease drugmaker's Q3 product revenue rose more than fourfold yr/yr, beating analyst expectations

• Net loss for Q3 narrowed compared to the prior year

• Company cut R&D headcount by over 35% in 2026 to reduce costs

Outlook

• Agios targets non-GAAP profitability in 2028

• FDA PDUFA goal date for mitapivat in sickle cell disease set for Feb 1, 2027

• Company sees expanding AQVESME demand in thalassemia, including non-transfusion dependent patients

Result Drivers

• U.S. LAUNCH DEMAND - Co said Q3 revenue growth was driven by U.S. commercial launch of AQVESME in thalassemia and expanding patient demand

• EU APPROVAL IMPACT - Ex-U.S. revenue growth attributed to early access programs in Europe after EU approval of PYRUKYND in thalassemia

• COMMERCIAL LAUNCH COSTS - Higher SG&A expenses due to increased activity supporting AQVESME launch and preparation for potential mitapivat launch in sickle cell disease

Company press release: ID:nGNXcdNDX2

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 7 "strong buy" or "buy", 3 "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the biotechnology & medical research peer group is "buy"

• Wall Street's median 12-month price target for Agios Pharmaceuticals, Inc. is $50.00, about 59.3% above its November 4 closing price of $31.38

Reuters Recommended Reads

• Nov 3 - Zevra Therapeutics Q3 revenue rises 45% on MIPLYFFA sales

• Nov 3 - Mirum Pharmaceuticals Q3 net product sales surge, outlook raised

• Nov 3 - Ultragenyx Q3 revenue rises, net loss narrows

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)