Encouraging Second Quarter for Agios Pharmaceuticals: IDH inhibitor Tibsovo Shows Strong Growth
Agios Pharmaceuticals, a company specializing in the development of oncology and rare genetic disease medicines, today published its second quarter 2019 annual report. Total sales increased to $26.2 million. Tibsovo, an IDH inhibitor approved for the treatment of acute myeloid leukemia (AML), was the largest contributor to the results, increasing over 50% to $13.7 million compared to the first quarter. Idhifa contributed USD 2.7 million in royalties to the positive operating income.
In addition to strong financial results, Agios Pharmaceuticals also achieved key milestones for the planned indication extensions with Tibsovo, including sNDA approval for the first-line treatment of AML and the positive Phase 3 trial in pretreated patients with IDH1-mutated cholangiocarcinoma.
Dr. Jackie Fouse, CEO of Agios Pharmaceuticals, commented on the business development as follows:
“In the second quarter, we made significant progress in all areas. Our commercial team continues to deliver excellent work on the AML launch of Tibsovo and is preparing for the first potential launch in a solid tumor following the positive ClarIDHy study in cholangiocarcinoma. On the clinical side, we further expanded our IDH program to earlier lines of AML therapy and extended our PKR programs to new disease areas, while analyzing the pivotal studies for PK deficiency. In addition, we completed dose escalation in our Phase 1 AG-270 trial and are well on track to enter the next phase of development. The great progress we have made over the quarter keeps us on track to achieve the remaining milestones for 2019 and to further increase the value of our entire portfolio”.
The full Agios Pharmaceuticals quarterly report can be found here.