AGIOS PHARMACEUTICALS, INC.
AGIO · Pharmaceutical Preparations · 59.5M shares · -2%/yr ↓ buyback · EDGAR filings ↗
Net buyback after stock comp: $758M (gross $802M, SBC $45M)
Reference price $34.71 · est. market cap ~$2.1B — last insider sale, 2026-04-02 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)
Grade
C63Well-capitalized rare-hematology company with multiple positive mitapivat Phase 3 readouts but heavy cash burn.
Strengths
- Fortress balance sheet: $1.5B cash (96th pct), current ratio 11.5 (82nd pct)
- Strongly positive, registration-supporting Phase 3s (ENERGIZE NTDT p<0.0001, TDT TRR p=0.0003, ACTIVATE PKD) plus EU CHMP positive opinion and SCD filing pending
- Revenue +48% (74th pct) across an approved/expanding PK-activator franchise
Risks
- Deep losses: FCF -$377M (3rd pct), net income growth 7th pct, operating margin 31st pct
- Singular rare-disease focus heightens market/pricing concentration risk
- Profitability remains distant despite commercialization
Notable findings
- Exec changeRecent 8-K item 5.02 8-K ↗
- Fund exitedNotable fund(s) exited this quarter: VANGUARD GROUP INC
- Net lossNet loss (net margin -764.0%)
- Cash burnNegative free cash flow (-377.3M)
- Strong balance sheetStrong balance sheet — $1.5B cash & investments, ~16 quarters of runway
- Insider sellingInsider selling — 29 open-market sale(s) by 7 insider(s) (cluster of 7 insiders, ~$3M, last 6mo) Form 4 ↗
- Trial readout soonUpcoming trial readout ~2026-05 — PHASE2 · Sickle Cell Disease
- Notable holderHeld by 4 notable fund(s): STATE STREET CORP, GOLDMAN SACHS GROUP INC, CITADEL ADVISORS LLC +1 more (as of 2026-03-31)
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Gross margin
88.3%
Operating margin
-873.9%
Net margin
-764.0%
Return on equity
-34.6%
Return on assets
-31.8%
Revenue growth (QoQ)
3.9%
Net-income growth
-161.3%
Current ratio
11.5×
Free cash flow
-$377M
Tangible book value
$1.2B
Cash & investments
$1.5B
Cash runway
16q
Stock comp / revenue
97.3%
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-06-18 | Scadden David | Option exercise | 2.8K | — |
| 2026-06-18 | Ballal Rahul D. | Option exercise | 2.8K | — |
| 2026-06-18 | CAPELLO JEFFREY D | Option exercise | 2.8K | — |
| 2026-06-18 | Foster-Cheek Kaye I | Option exercise | 2.8K | — |
| 2026-06-18 | FOUSE JACQUALYN A | Option exercise | 2.8K | — |
| 2026-06-18 | Ho Maykin | Option exercise | 2.8K | — |
| 2026-06-18 | Owen Adams Catherine | Option exercise | 2.8K | — |
| 2026-06-18 | Smith Cynthia | Option exercise | 2.8K | — |
| 2026-06-13 | Owen Adams Catherine | Option exercise | 2.0K | — |
| 2026-06-13 | CAPELLO JEFFREY D | Option exercise | 2.0K | — |
| 2026-04-02 | Burns James William | Option exercise | 8.5K | — |
| 2026-04-02 | Burns James William | Sell | 3.3K | $34.71 |
| 2026-04-02 | Gheuens Sarah | Option exercise | 8.5K | — |
| 2026-04-02 | Gheuens Sarah | Sell | 2.9K | $34.71 |
| 2026-04-02 | Jones Cecilia | Option exercise | 8.5K | — |
| 2026-04-02 | Jones Cecilia | Sell | 3.1K | $34.71 |
| 2026-04-02 | Milanova Tsveta | Option exercise | 8.5K | — |
| 2026-04-02 | Milanova Tsveta | Sell | 3.3K | $34.71 |
| 2026-04-02 | Viswanadhan Krishnan | Option exercise | 8.1K | — |
| 2026-04-02 | Viswanadhan Krishnan | Sell | 3.0K | $34.71 |
| 2026-04-02 | Goff Brian | Option exercise | 26K | — |
| 2026-04-02 | Goff Brian | Sell | 12K | $34.71 |
| 2026-04-02 | Goff Brian | Option exercise | 14K | — |
| 2026-04-02 | Goff Brian | Sell | 6.6K | $34.71 |
| 2026-03-05 | Viswanadhan Krishnan | Option exercise | 8.1K | — |
| 2026-03-05 | Viswanadhan Krishnan | Sell | 3.0K | $27.80 |
| 2026-03-03 | Washburn Theodore James Jr. | Sell | 5.3K | $28.88 |
| 2026-03-02 | Goff Brian | Option exercise | 8.5K | — |
| 2026-03-02 | Goff Brian | Sell | 3.9K | $28.96 |
| 2026-03-02 | Goff Brian | Option exercise | 18K | — |
| 2026-03-02 | Goff Brian | Sell | 8.3K | $28.96 |
| 2026-03-02 | Goff Brian | Option exercise | 13K | — |
| 2026-03-02 | Goff Brian | Sell | 5.9K | $28.96 |
| 2026-03-02 | Burns James William | Option exercise | 4.0K | — |
| 2026-03-02 | Burns James William | Sell | 1.2K | $28.96 |
| 2026-03-02 | Burns James William | Option exercise | 5.7K | — |
| 2026-03-02 | Burns James William | Sell | 1.7K | $28.96 |
| 2026-03-02 | Burns James William | Option exercise | 4.0K | — |
| 2026-03-02 | Burns James William | Sell | 1.2K | $28.96 |
| 2026-03-02 | Burns James William | Option exercise | 3.9K | — |
| 2026-03-02 | Burns James William | Sell | 1.2K | $28.96 |
| 2026-03-02 | Gheuens Sarah | Option exercise | 4.0K | — |
| 2026-03-02 | Gheuens Sarah | Sell | 1.2K | $28.96 |
| 2026-03-02 | Gheuens Sarah | Option exercise | 5.7K | — |
| 2026-03-02 | Gheuens Sarah | Sell | 1.7K | $28.96 |
| 2026-03-02 | Gheuens Sarah | Option exercise | 4.0K | — |
| 2026-03-02 | Gheuens Sarah | Sell | 1.2K | $28.96 |
| 2026-03-02 | Jones Cecilia | Option exercise | 2.0K | — |
| 2026-03-02 | Jones Cecilia | Sell | 594 | $28.96 |
| 2026-03-02 | Jones Cecilia | Option exercise | 5.7K | — |
| 2026-03-02 | Jones Cecilia | Sell | 1.7K | $28.96 |
| 2026-03-02 | Jones Cecilia | Option exercise | 4.0K | — |
| 2026-03-02 | Jones Cecilia | Sell | 1.2K | $28.96 |
| 2026-03-02 | Jones Cecilia | Option exercise | 5.3K | — |
| 2026-03-02 | Jones Cecilia | Sell | 1.6K | $28.96 |
| 2026-03-02 | Milanova Tsveta | Option exercise | 5.7K | — |
| 2026-03-02 | Milanova Tsveta | Sell | 1.7K | $28.96 |
| 2026-03-02 | Milanova Tsveta | Option exercise | 4.0K | — |
| 2026-03-02 | Milanova Tsveta | Sell | 1.2K | $28.96 |
| 2026-03-02 | Washburn Theodore James Jr. | Option exercise | 2.4K | — |
| 2026-03-02 | Washburn Theodore James Jr. | Sell | 698 | $28.96 |
| 2026-03-02 | Washburn Theodore James Jr. | Option exercise | 2.5K | — |
| 2026-03-02 | Washburn Theodore James Jr. | Sell | 727 | $28.96 |
| 2026-03-02 | Washburn Theodore James Jr. | Option exercise | 2.7K | — |
| 2026-03-02 | Washburn Theodore James Jr. | Sell | 798 | $28.96 |
| 2026-01-05 | Milanova Tsveta | Option exercise | 8.5K | — |
| 2026-01-05 | Milanova Tsveta | Sell | 2.9K | $27.02 |
| 2025-12-30 | Burns James William | Option exercise | 6.0K | — |
| 2025-12-30 | Burns James William | Sell | 2.9K | $27.09 |
| 2025-12-30 | Goff Brian | Option exercise | 26K | — |
| 2025-12-30 | Goff Brian | Sell | 12K | $27.09 |
| 2025-12-30 | Goff Brian | Option exercise | 13K | — |
| 2025-12-30 | Goff Brian | Sell | 6.2K | $27.09 |
| 2025-12-30 | Gheuens Sarah | Option exercise | 6.0K | — |
| 2025-12-30 | Gheuens Sarah | Sell | 2.9K | $27.09 |
| 2025-12-30 | Milanova Tsveta | Option exercise | 6.0K | — |
| 2025-12-30 | Milanova Tsveta | Sell | 2.9K | $27.09 |
| 2025-12-30 | Jones Cecilia | Option exercise | 6.0K | — |
| 2025-12-30 | Jones Cecilia | Sell | 2.9K | $27.09 |
| 2025-11-12 | Scadden David | Option exercise | 200 | $18.09 |
| 2025-11-12 | Scadden David | Sell | 200 | $43.84 |
| 2025-11-11 | Gheuens Sarah | Option exercise | 2.5K | $25.01 |
| 2025-11-11 | Gheuens Sarah | Sell | 2.5K | $43.78 |
| 2025-10-30 | Gheuens Sarah | Sell | 200 | $43.81 |
| 2025-10-30 | Gheuens Sarah | Option exercise | 200 | $25.01 |
| 2025-10-27 | Gheuens Sarah | Option exercise | 3.3K | $25.01 |
| 2025-10-27 | Gheuens Sarah | Sell | 3.3K | $43.92 |
| 2025-10-08 | Scadden David | Option exercise | 200 | $18.09 |
| 2025-10-08 | Scadden David | Sell | 200 | $41.00 |
| 2025-09-30 | Scadden David | Option exercise | 200 | $18.09 |
| 2025-09-30 | Scadden David | Sell | 200 | $40.00 |
| 2025-09-26 | Jones Cecilia | Option exercise | 7.5K | — |
| 2025-09-26 | Jones Cecilia | Sell | 3.7K | $36.77 |
| 2025-09-05 | Washburn Theodore James Jr. | Sell | 8.5K | $36.87 |
| 2025-08-27 | Scadden David | Option exercise | 200 | $18.09 |
| 2025-08-27 | Scadden David | Sell | 200 | $40.00 |
| 2025-08-11 | Ballal Rahul D. | Option exercise | 2.3K | — |
| 2025-08-11 | Smith Cynthia | Option exercise | 2.3K | — |
| 2025-08-08 | Goff Brian | Option exercise | 23K | — |
| 2025-08-08 | Goff Brian | Sell | 11K | $36.67 |
| 2025-07-10 | Scadden David | Sell | 1.4K | $40.00 |
| 2025-07-10 | Scadden David | Option exercise | 1.4K | $18.09 |
| 2025-07-09 | Gheuens Sarah | Option exercise | 12K | $25.01 |
| 2025-07-09 | Gheuens Sarah | Sell | 11K | $37.93 |
| 2025-07-09 | Gheuens Sarah | Sell | 847 | $38.76 |
| 2025-07-01 | Gheuens Sarah | Option exercise | 8.4K | — |
| 2025-07-01 | Gheuens Sarah | Sell | 4.1K | $34.17 |
| 2025-06-24 | Burns James William | Option exercise | 6.0K | — |
| 2025-06-24 | Burns James William | Sell | 2.8K | $33.54 |
| 2025-06-24 | Gheuens Sarah | Option exercise | 6.0K | — |
| 2025-06-24 | Gheuens Sarah | Sell | 2.9K | $33.54 |
| 2025-06-24 | Jones Cecilia | Option exercise | 6.0K | — |
| 2025-06-24 | Jones Cecilia | Sell | 1.8K | $33.54 |
| 2025-06-24 | Milanova Tsveta | Option exercise | 6.0K | — |
| 2025-06-24 | Milanova Tsveta | Sell | 2.8K | $33.54 |
| 2025-06-24 | Goff Brian | Option exercise | 26K | — |
| 2025-06-24 | Goff Brian | Sell | 12K | $33.54 |
| 2025-06-24 | Goff Brian | Option exercise | 13K | — |
| 2025-06-24 | Goff Brian | Sell | 6.2K | $33.54 |
| 2025-06-20 | Ho Maykin | Option exercise | 2.1K | — |
| 2025-06-20 | Ballal Rahul D. | Option exercise | 2.1K | — |
| 2025-06-20 | CAPELLO JEFFREY D | Option exercise | 2.1K | — |
| 2025-06-20 | Foster-Cheek Kaye I | Option exercise | 2.1K | — |
| 2025-06-20 | FOUSE JACQUALYN A | Option exercise | 2.1K | — |
| 2025-06-20 | Owen Adams Catherine | Option exercise | 2.1K | — |
| 2025-06-20 | Scadden David | Option exercise | 2.1K | — |
| 2025-06-20 | Smith Cynthia | Option exercise | 2.1K | — |
| 2025-06-13 | Owen Adams Catherine | Option exercise | 2.0K | — |
| 2025-06-13 | CAPELLO JEFFREY D | Option exercise | 2.0K | — |
| 2025-04-10 | FOUSE JACQUALYN A | Sell | 7.5K | $25.90 |
| 2025-04-08 | FOUSE JACQUALYN A | Option exercise | 16K | — |
| 2025-03-03 | Gheuens Sarah | Sell | 1.2K | $35.54 |
| 2025-03-03 | Gheuens Sarah | Sell | 1.7K | $35.54 |
| 2025-03-03 | Jones Cecilia | Sell | 594 | $35.54 |
| 2025-03-03 | Washburn Theodore James Jr. | Sell | 231 | $35.54 |
| 2025-03-03 | Burns James William | Sell | 1.1K | $35.54 |
| 2025-03-03 | Washburn Theodore James Jr. | Sell | 697 | $35.54 |
| 2025-03-03 | Jones Cecilia | Sell | 1.7K | $35.54 |
| 2025-03-03 | Washburn Theodore James Jr. | Sell | 727 | $35.54 |
| 2025-03-03 | Milanova Tsveta | Sell | 1.7K | $35.54 |
| 2025-03-03 | Burns James William | Sell | 1.2K | $35.54 |
| 2025-03-03 | Goff Brian | Sell | 4.2K | $35.54 |
| 2025-03-03 | Goff Brian | Sell | 8.8K | $35.54 |
| 2025-03-03 | Gheuens Sarah | Sell | 1.1K | $35.54 |
| 2025-03-03 | Burns James William | Sell | 1.7K | $35.54 |
| 2025-03-01 | Goff Brian | Option exercise | 18K | — |
| 2025-03-01 | Burns James William | Option exercise | 3.8K | — |
| 2025-03-01 | Burns James William | Option exercise | 4.0K | — |
| 2025-03-01 | Burns James William | Option exercise | 5.7K | — |
| 2025-03-01 | Jones Cecilia | Option exercise | 2.0K | — |
| 2025-03-01 | Jones Cecilia | Option exercise | 5.7K | — |
| 2025-03-01 | Milanova Tsveta | Option exercise | 5.7K | — |
| 2025-03-01 | Goff Brian | Option exercise | 8.5K | — |
| 2025-03-01 | Gheuens Sarah | Option exercise | 3.8K | — |
| 2025-03-01 | Gheuens Sarah | Option exercise | 4.0K | — |
| 2025-03-01 | Gheuens Sarah | Option exercise | 5.7K | — |
| 2025-03-01 | Washburn Theodore James Jr. | Option exercise | 777 | — |
| 2025-03-01 | Washburn Theodore James Jr. | Option exercise | 2.4K | — |
| 2025-03-01 | Washburn Theodore James Jr. | Option exercise | 2.5K | — |
| 2025-02-05 | Washburn Theodore James Jr. | Sell | 2.3K | $34.39 |
| 2025-02-01 | Washburn Theodore James Jr. | Option exercise | 6.9K | — |
| 2025-01-06 | Milanova Tsveta | Sell | 2.8K | $32.18 |
| 2025-01-03 | Milanova Tsveta | Option exercise | 8.5K | — |
All non-derivative Form 4 activity (SEC), newest first.
Clinical trials
| Trial | Title | Phase | Status | Primary completion |
|---|---|---|---|---|
| NCT05777993 ↗ | A Study to Provide Continued Access to Mitapivat for Participants Who Previously Completed an Agios-Sponsored Mitapivat Study Pyruvate Kinase Deficiency, Anemia, Hemolytic | PHASE4 | Enrolling By Invitation | 2029-08-01 |
| NCT07241234 ↗ | A Study to Evaluate Safety, Tolerability, Pharmacokinetics, and Pharmacodynamics of AG-181 in Subjects With Phenylketonuria Phenylketonuria | PHASE1 | Recruiting | 2028-01-17 |
| NCT03481738 ↗ | Pyruvate Kinase Deficiency Global Longitudinal Registry Pyruvate Kinase Deficiency | — | Active Not Recruiting | 2027-05-31 |
| NCT06924970 ↗ | A Dose-Finding Study of Tebapivat to Assess Efficacy, and Safety in Participants With Sickle Cell Disease (SCD) Sickle Cell Disease | PHASE2 | Active Not Recruiting | 2026-05-01 |
| NCT05490446 ↗ | A Study of Tebapivat (AG-946) in Participants With Anemia Due to Lower-Risk Myelodysplastic Syndromes (LR-MDS) Myelodysplastic Syndromes | PHASE2 | Active Not Recruiting | 2026-03-17 |
| NCT07075640 ↗ | A Study to Determine the Safety and Tolerability of AG-236 and How it is Absorbed, Broken Down, and Eliminated From the Body in Healthy Participants Healthy Participants | PHASE1 | Active Not Recruiting | 2026-02-11 |
| NCT05031780 ↗ | A Study Evaluating the Efficacy and Safety of Mitapivat (AG-348) in Participants With Sickle Cell Disease (RISE UP) Sickle Cell Disease | PHASE2/PHASE3 | Active Not Recruiting | 2025-10-30 |
| NCT05175105 ↗ | A Study to Evaluate the Efficacy and Safety of Mitapivat in Pediatric Participants With Pyruvate Kinase Deficiency (PKD) Who Are Not Regularly Transfused, Followed by a 5-Year Extension Period Pediatric Pyruvate Kinase Deficiency, Pediatric Hemolytic Anemia | PHASE3 | Active Not Recruiting | 2024-12-13 |
| NCT05144256 ↗ | A Study to Evaluate the Efficacy and Safety of Mitapivat in Pediatric Participants With Pyruvate Kinase Deficiency (PKD) Who Are Regularly Transfused, Followed by a 5-Year Extension Period Pediatric Pyruvate Kinase Deficiency, Pediatric Hemolytic Anemia | PHASE3 | Active Not Recruiting | 2024-05-03 |
| NCT04770779 ↗ | A Study Evaluating the Efficacy and Safety of Mitapivat in Participants With Transfusion-Dependent Alpha- or Beta-Thalassemia (α- or β-TDT) Transfusion-dependent Alpha-Thalassemia, Transfusion-dependent Beta-Thalassemia | PHASE3 | Active Not Recruiting | 2024-04-11 |
| NCT04770753 ↗ | A Study Evaluating the Efficacy and Safety of Mitapivat in Participants With Non-Transfusion-Dependent Alpha- or Beta-Thalassemia (α- or β-NTDT) Non-Transfusion-dependent Alpha-Thalassemia, Non-Transfusion-dependent Beta-Thalassemia | PHASE3 | Active Not Recruiting | 2023-11-13 |
| NCT03692052 ↗ | A Study to Determine the Efficacy, Safety, Pharmacokinetics, and Pharmacodynamics of AG-348 in Adult Participants With Non-transfusion-dependent Thalassemia Thalassemia | PHASE2 | Active Not Recruiting | 2020-08-20 |
| NCT07656415 ↗ | A Study to Investigate the Effect of Mitapivat on Transfusion Burden in Subjects With Sickle Cell Disease (SCD) Sickle Cell Disease | PHASE3 | Not Yet Recruiting | 2029-08-01 |
| NCT07506863 ↗ | A Study to Investigate the Efficacy, Pharmacokinetics, and Safety of Mitapivat in Pediatric Participants With Transfusion-Dependent Alpha- or Beta-Thalassemia (α- or β-TDT) Transfusion-dependent Alpha-Thalassemia, Transfusion-dependent Beta-Thalassemia | PHASE3 | Not Yet Recruiting | 2029-06-01 |
| NCT07517133 ↗ | A Study to Investigate the Efficacy, Pharmacokinetics, and Safety of Mitapivat in Pediatric Participants With α- or β-Non-Transfusion-Dependent Thalassemia Non-Transfusion-dependent Alpha-Thalassemia, Non-Transfusion-dependent Beta-Thalassemia | PHASE3 | Not Yet Recruiting | 2029-03-01 |
| NCT06286046 ↗ | A Study of Mitapivat in Participants With Sickle Cell Disease and Nephropathy Sickle Cell Disease, Nephropathy | PHASE2 | Withdrawn | 2027-05-01 |
| NCT06286033 ↗ | Single and Multiple Ascending Dose Study and Food Effect Study for AG181 Healthy Volunteers | PHASE1 | Completed | 2025-10-09 |
| NCT06745271 ↗ | A Study to Determine How Tebapivat is Absorbed, Broken Down, and Removed From the Body and the Extent to Which Tebapivat is Made Available in the Body in Healthy Participants Healthy Participants | PHASE1 | Completed | 2025-02-21 |
| NCT06648824 ↗ | Study of How Mitapivat Affects Midazolam Blood Levels in Healthy Participants Healthy Participants | PHASE1 | Completed | 2024-12-03 |
| NCT03853798 ↗ | Extension Study of AG-348 in Adult Participants With Pyruvate Kinase Deficiency Previously Enrolled in AG-348-006 or AG348-C-007 Pyruvate Kinase Deficiency | PHASE3 | Completed | 2024-07-03 |
Source: ClinicalTrials.gov (U.S. NIH) · active studies first.
Notable events (8-K)
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 8-K | 2026-06-18 | 2026-06-18 | 0001193125-26-275879 ↗ |
| 10-Q | 2026-04-29 | 2026-03-31 | 0001439222-26-000073 ↗ |
| 8-K | 2026-04-29 | 2026-04-29 | 0001439222-26-000071 ↗ |
| 10-K | 2026-02-12 | 2025-12-31 | 0001439222-26-000025 ↗ |
| 8-K | 2026-02-12 | 2026-02-12 | 0001439222-26-000023 ↗ |
| 8-K | 2026-01-12 | 2026-01-12 | 0001439222-26-000018 ↗ |
| 10-Q | 2025-10-30 | 2025-09-30 | 0001439222-25-000116 ↗ |
| 8-K | 2025-10-30 | 2025-10-30 | 0001439222-25-000114 ↗ |
| 8-K | 2025-08-04 | 2025-08-04 | 0001439222-25-000090 ↗ |
| 10-Q | 2025-07-31 | 2025-06-30 | 0001439222-25-000089 ↗ |
| 8-K | 2025-07-31 | 2025-07-31 | 0001439222-25-000087 ↗ |
| 8-K | 2025-07-08 | 2025-07-03 | 0001439222-25-000076 ↗ |