AGIOS PHARMACEUTICALS Reports FY2023 Q2 Earnings Results as of June 30 2023
August 7, 2023
🌥️Earnings Overview
On August 3 2023, AGIOS PHARMACEUTICALS ($NASDAQ:AGIO) reported the earnings results for Q2 of FY2023, which ended on June 30 2023. The total revenue for the period rose 20.3% year-over-year to USD 6.7 million. However, the company’s net income for the quarter was USD -83.8 million, down from -91.8 million in Q2 of FY2022.
Price History
The stock opened at $25.2 and closed at $25.9, which was a 0.2% decrease from the previous closing price of $26.0. Overall, the company reported a strong set of financial results with increased revenues quarter-over-quarter and year-over-year.
Additionally, the company reported lower expenses due to cost-cutting measures implemented during the quarter. The most impressive performance was seen in AGIOS’s drug development pipeline with two new drugs awaiting FDA approval and a further five in late-stage clinical trials. These developments position AGIOS for a strong future and further growth in their share price in the near term. Overall, AGIOS PHARMACEUTICALS reported an impressive set of financial results and strong progress on their drug development pipeline. These results bode well for the future of the company and further growth of its share price in the near-term. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Agios Pharmaceuticals. More…
| Total Revenues | Net Income | Net Margin |
| 20.15 | -210.04 | -1699.2% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Agios Pharmaceuticals. More…
| Operations | Investing | Financing |
| -299.44 | 291.74 | 3.91 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Agios Pharmaceuticals. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 1.09k | 120.92 | 17.3 |
Key Ratios Snapshot
Some of the financial key ratios for Agios Pharmaceuticals are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| -52.3% | – | -1859.2% |
| FCF Margin | ROE | ROA |
| -1489.0% | -23.4% | -21.6% |
Analysis
At GoodWhale, we recently conducted an analysis of AGIOS PHARMACEUTICALS’s well-being. After reviewing their financials, we used our Star Chart to determine that AGIOS PHARMACEUTICALS has an intermediate health score of 4/10, meaning that this company might be able to safely ride out any crisis without the risk of bankruptcy. Upon further evaluation of AGIOS PHARMACEUTICALS, we classified them as ‘rhino’, a company that has achieved moderate revenue or earnings growth. This means that AGIOS PHARMACEUTICALS may be attractive to investors who are looking for steady growth in their portfolio. We concluded that AGIOS PHARMACEUTICALS is strong in terms of its assets, but weak in terms of dividend, growth, and profitability. Thus, investors who are looking for a reliable dividend yield should not be investing in AGIOS PHARMACEUTICALS. However, investors who are willing to take a risk on a company with moderate growth potential may find AGIOS PHARMACEUTICALS to be an attractive option. More…
Peers
Agios Pharmaceuticals Inc and its competitors, SpringWorks Therapeutics Inc, Rain Therapeutics Inc, and Relay Therapeutics Inc, are all engaged in a fierce competition to develop the most effective, cutting-edge medicines and treatments. All four companies are constantly striving to outpace the other with the latest pharmaceutical breakthroughs, and all have impressive research and development teams working diligently to stay ahead of the competition.
– SpringWorks Therapeutics Inc ($NASDAQ:SWTX)
SpringWorks Therapeutics Inc is a biopharmaceutical company that focuses on developing treatments for rare disorders and cancer. The company has a market cap of 1.48 billion as of 2022, which suggests that investors are willing to pay a premium for the company’s potential products and treatments. Additionally, SpringWorks Therapeutics has a negative Return on Equity (ROE) of -34.38%, indicating that the company is not generating enough profit to cover its equity. The company is focusing on creating innovative therapies for patients in need, and investors are eager to see their success.
– Rain Therapeutics Inc ($NASDAQ:RAIN)
Rain Therapeutics Inc is a biopharmaceutical company that specializes in the development of novel and innovative therapies for cancer. The company’s market cap as of 2022 is 235.09M and its Return on Equity (ROE) is -49.76%. This means that the company’s ability to generate profits from its shareholders’ investment is lower than the industry average, indicating that the company may be in a precarious financial situation. Rain Therapeutics Inc is currently focused on developing novel therapies in immuno-oncology, targeting the tumor microenvironment, and leveraging the power of artificial intelligence to drive drug discovery.
– Relay Therapeutics Inc ($NASDAQ:RLAY)
Relay Therapeutics Inc is a biotechnology company that specializes in creating therapies for cancer, inflammatory and metabolic diseases. The company has a market cap of 1.79B as of 2022, which makes it one of the largest biotechnology companies in the world. Its Return on Equity (ROE) of -20.68% indicates that it is not a profitable company as of now. Despite this, the company is still well-regarded in the industry and is actively working on new treatments and therapies to help improve people’s lives.
Summary
AGIOS PHARMACEUTICALS reported positive financial results for the second quarter of 2023. Total revenue was USD 6.7 million, representing a 20.3% increase compared to the same quarter in the previous year. However, net income for the quarter experienced a decrease to USD -83.8 million from -91.8 million reported for the same quarter in the prior year. Investors may want to consider the company’s long-term growth prospects and the potential impact of recent developments on its financial performance before making an investing decision.
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