Agios Pharmaceuticals, Inc (AGIO) saw its loss widen to $66.17 million, or $1.56 a share for the quarter ended Mar. 31, 2017. In the previous year period, the company reported a loss of $23.20 million, or $0.61 a share. Revenue during the quarter plunged 66.41 percent to $10.51 million from $31.28 million in the previous year period.
Operating loss for the quarter was $67.05 million, compared with an operating loss of $23.59 million in the previous year period.
“Our team made significant progress during the first quarter advancing our late-stage pipeline and preparing for the first product launch from our research and discovery engine, which is an important milestone for our organization,” said David Schenkein, M.D., chief executive officer at Agios. “We are on track to execute against our remaining key 2017 goals, including finalizing the design of our global pivotal program for AG-348 in PK deficiency in the third quarter and submitting both an NDA for ivosidenib in R/R AML and our sixth IND, for AG-270, a development candidate focused on MTAP-deleted tumors, by the end of the year.”
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