Boston, MA, 03/12/2014 – One of the most significant pharmaceutical company in the field of cancer metabolism, Agios Pharmaceuticals, Inc. (NASDAQ:AGIO) declared its financial results post 2013 on March 6, 2014. This report included the full year as well as the fourth quarter report for the financial year 2013 and the highlights of the company. The M.D. of the company, David Schenkein considered the year 2013 as a success story in the book of Agios Pharmaceutical. He mentioned the success of the trials of of the new drug applications and the ongoing trial of AG-221 was highlighted by him. He also revealed the company’s plans to present the clinical data at the American Association for Cancer Research Annual Meeting in the year 2014.
The recent highlights of the company included the following:
- Dose escalation and increase in enrollment in the study of AG-221
- Completed investigation of the AG-120
- Extended collaboration of cancer metabolism with Celgene
These were the few points highlighted in the report presented on March 6, 2014. The managing director also expressed the company’s plans to initiate AG-120 Phase 1 clinical trials in the year 2014. The company expects the initiate single and multiple dose escalation of AG-348 this year.
The year 2013 ended up being a good one, financially for the Agios Pharmaceutical. The total revenues generated by the company climbed up to $25.5 million as compared to $25.1 at the end of the year 2012. The fourth quarter also saw a tremendous rise in revenues collected in comparison to the comparable period of 2012. The research and development expenses ($54.5 million as compared to $41 million) as well as the G&A expenses ($9.9 million as compared to $7.1 million) were reported to have climbed up as compared to the year 2012. Agios Pharmaceuticals, Inc. (NASDAQ:AGIO) expects its cash equivalents to support the company financially till the end of 2016 easily.