$AGIO
Agios Pharmaceuticals Inc

2016 Q4 Form 10-Q Financial Statement

#000119312516758835 Filed on November 03, 2016

View on sec.gov

Income Statement

Concept 2016 Q4 2016 Q3 2015 Q3
Revenue $22.65M $8.985M $5.480M
YoY Change 264.23% 63.96% -83.83%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $15.38M $11.85M $9.930M
YoY Change 51.08% 19.34% 92.07%
% of Gross Profit
Research & Development $64.68M $60.64M $36.03M
YoY Change 75.14% 68.32% 41.14%
% of Gross Profit
Depreciation & Amortization $1.700M $1.400M $1.000M
YoY Change 54.55% 40.0% 233.33%
% of Gross Profit
Operating Expenses $80.06M $72.50M $45.96M
YoY Change 69.91% 57.76% 49.73%
Operating Profit -$57.41M -$63.51M -$40.48M
YoY Change 40.37% 56.92% -1361.69%
Interest Expense $920.0K $680.0K $220.0K
YoY Change 228.57% 209.09% 340.0%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income -$56.49M -$62.83M -$40.26M
YoY Change 39.07% 56.07% -1336.39%
Income Tax $0.00 $0.00 $0.00
% Of Pretax Income
Net Earnings -$23.20M -$62.83M -$40.26M
YoY Change -42.89% 56.08% -1186.85%
Net Earnings / Revenue -102.43% -699.32% -734.62%
Basic Earnings Per Share -$1.07
Diluted Earnings Per Share -$1.341M -$1.630M -$1.07
COMMON SHARES
Basic Shares Outstanding 42.01M shares 38.05M shares 37.51M shares
Diluted Shares Outstanding 37.51M shares

Balance Sheet

Concept 2016 Q4 2016 Q3 2015 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $541.3M $579.1M $352.4M
YoY Change 70.76% 64.35% 60.19%
Cash & Equivalents $160.8M $285.5M $80.05M
Short-Term Investments $380.6M $293.6M $272.3M
Other Short-Term Assets $10.30M $10.30M $7.200M
YoY Change 18.39% 43.06% -18.18%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $559.9M $600.9M $371.7M
YoY Change 65.98% 61.69% 50.13%
LONG-TERM ASSETS
Property, Plant & Equipment $25.34M $26.26M $21.13M
YoY Change 9.12% 24.3% 474.57%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $32.30M $43.50M $55.60M
YoY Change -45.16% -21.76% 210.61%
Other Assets $1.615M $1.339M $678.0K
YoY Change 164.32% 97.49% 49.34%
Total Long-Term Assets $59.20M $71.10M $77.43M
YoY Change -28.44% -8.17% 251.17%
TOTAL ASSETS
Total Short-Term Assets $559.9M $600.9M $371.7M
Total Long-Term Assets $59.20M $71.10M $77.43M
Total Assets $619.1M $672.0M $449.1M
YoY Change 47.38% 49.65% 66.57%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $17.11M $15.42M $8.971M
YoY Change 15.99% 71.93% 44.11%
Accrued Expenses $32.00M $22.81M $15.99M
YoY Change 100.06% 42.68% 59.79%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $88.43M $78.00M $49.76M
YoY Change 67.21% 56.77% 41.82%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $172.1M $192.6M $23.70M
YoY Change 678.73% 712.66% -11.57%
Total Long-Term Liabilities $172.1M $192.6M $23.70M
YoY Change 678.73% 712.66% -11.57%
TOTAL LIABILITIES
Total Short-Term Liabilities $88.43M $78.00M $49.76M
Total Long-Term Liabilities $172.1M $192.6M $23.70M
Total Liabilities $260.5M $270.6M $73.40M
YoY Change 247.8% 268.66% 18.58%
SHAREHOLDERS EQUITY
Retained Earnings -$483.2M -$426.7M -$244.1M
YoY Change 69.72% 74.82% 73.97%
Common Stock $842.1M $828.1M $619.5M
YoY Change 33.63% 33.67% 78.02%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $358.6M $401.4M $375.7M
YoY Change
Total Liabilities & Shareholders Equity $619.1M $672.0M $449.1M
YoY Change 47.38% 49.65% 66.57%

Cashflow Statement

Concept 2016 Q4 2016 Q3 2015 Q3
OPERATING ACTIVITIES
Net Income -$23.20M -$62.83M -$40.26M
YoY Change -42.89% 56.08% -1186.85%
Depreciation, Depletion And Amortization $1.700M $1.400M $1.000M
YoY Change 54.55% 40.0% 233.33%
Cash From Operating Activities -$51.20M -$49.00M -$24.80M
YoY Change 67.87% 97.58% 5.53%
INVESTING ACTIVITIES
Capital Expenditures -$1.200M -$3.400M -$3.300M
YoY Change -45.45% 3.03% 450.0%
Acquisitions
YoY Change
Other Investing Activities -$76.30M -$59.30M $33.40M
YoY Change -428.88% -277.54% -330.34%
Cash From Investing Activities -$77.60M -$62.70M $30.20M
YoY Change -471.29% -307.62% -300.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 4.000M 163.2M 2.200M
YoY Change 207.69% 7318.18% 450.0%
NET CHANGE
Cash From Operating Activities -51.20M -49.00M -24.80M
Cash From Investing Activities -77.60M -62.70M 30.20M
Cash From Financing Activities 4.000M 163.2M 2.200M
Net Change In Cash -124.8M 51.50M 7.600M
YoY Change 1403.61% 577.63% -119.9%
FREE CASH FLOW
Cash From Operating Activities -$51.20M -$49.00M -$24.80M
Capital Expenditures -$1.200M -$3.400M -$3.300M
Free Cash Flow -$50.00M -$45.60M -$21.50M
YoY Change 76.68% 112.09% -6.11%

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IncreaseDecreaseInDueFromRelatedPartiesCurrent
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us-gaap Increase Decrease In Accounts Payable
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us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
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us-gaap Payments To Acquire Available For Sale Securities
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us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
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165785000
us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
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347000
us-gaap Increase Decrease In Deferred Revenue
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us-gaap Investment Income Interest
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us-gaap Income Tax Expense Benefit
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us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
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us-gaap Increase Decrease In Accounts And Other Receivables
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us-gaap Payments To Acquire Property Plant And Equipment
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us-gaap Proceeds From Issuance Of Common Stock
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us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
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SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P7Y6M
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0 pure
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SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P6Y2M12D
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
68.27
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
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6.07
dei Trading Symbol
TradingSymbol
AGIO
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ResearchAndDevelopmentExpense
155485000
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ProceedsFromStockOptionsExercised
3759000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.7223 pure
us-gaap Payments Of Stock Issuance Costs
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124000
CY2015Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P6Y22D
CY2015Q3 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
37507298 shares
CY2015Q3 us-gaap Revenue From Related Parties
RevenueFromRelatedParties
5480000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
1385390 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0139 pure
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
176107 shares
us-gaap Share Based Compensation
ShareBasedCompensation
32246000
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P6Y15D
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
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us-gaap Revenue From Related Parties
RevenueFromRelatedParties
47244000
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
P7Y5M12D
agio Collaboration Revenue
CollaborationRevenue
22300000
agio Reimbursement Of Research And Development Related Party Cost
ReimbursementOfResearchAndDevelopmentRelatedPartyCost
18754000
agio Available For Sale Securities Non Current Minimum Liquidating Period
AvailableForSaleSecuritiesNonCurrentMinimumLiquidatingPeriod
P12M
agio Public Offering Costs In Other Current Assets Net Of Amounts In Accounts Payable And Accrued Expenses
PublicOfferingCostsInOtherCurrentAssetsNetOfAmountsInAccountsPayableAndAccruedExpenses
124000
CY2014Q1 us-gaap Income Taxes Paid
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6000000
CY2014Q1 us-gaap Income Tax Examination Penalties And Interest Expense
IncomeTaxExaminationPenaltiesAndInterestExpense
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CY2014 agio Initial Agreement Period
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CY2014 agio Research Collaborative Arrangement Expiration Period
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CY2014 agio Receipt Due To Agreement Amendment
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CY2015 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P7Y5M27D
CY2015 agio Available For Sale Securities Non Current Minimum Liquidating Period
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CY2015Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
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CY2015Q3 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
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CY2015Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
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CY2015Q3 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
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CY2015Q3 us-gaap Operating Expenses
OperatingExpenses
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CY2015Q3 us-gaap Operating Income Loss
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CY2015Q3 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
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3000
CY2015Q3 us-gaap Investment Income Interest
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218000
CY2015Q3 us-gaap Income Tax Expense Benefit
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0
CY2015Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0 pure
CY2015Q3 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
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CY2015Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.6776 pure
CY2015Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
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CY2015Q3 agio Collaboration Revenue
CollaborationRevenue
5500000
CY2015Q3 agio Reimbursement Of Research And Development Related Party Cost
ReimbursementOfResearchAndDevelopmentRelatedPartyCost
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CY2016Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
5503345 shares
CY2016Q3 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
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CY2016Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
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CY2016Q3 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
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CY2016Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
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CY2016Q3 us-gaap Operating Expenses
OperatingExpenses
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CY2016Q3 us-gaap Net Income Loss
NetIncomeLoss
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CY2016Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
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CY2016Q3 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
-268000
CY2016Q3 us-gaap Investment Income Interest
InvestmentIncomeInterest
678000
CY2016Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
CY2016Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0 pure
CY2016Q3 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
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CY2016Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.7480 pure
CY2016Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
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CY2016Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P6Y26D
CY2016Q3 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
38548153 shares
CY2016Q3 us-gaap Revenue From Related Parties
RevenueFromRelatedParties
8985000
CY2016Q3 agio Collaboration Revenue
CollaborationRevenue
9000000
CY2016Q3 agio Reimbursement Of Research And Development Related Party Cost
ReimbursementOfResearchAndDevelopmentRelatedPartyCost
4038000

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