AGIOS PHARMACEUTICALS, INC.
For the period ended Dec 31, 2025. Filed Feb 12, 2026.
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FY2025 · Filed Feb 12, 2026
AGIO$31.76+1.2%Stored close · as of Nov 10, 2026
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Item 8. Consolidated Statements of Cash Flows
Consolidated Statements of Cash Flows
| (In thousands) Years Ended December 31: | 2025 | 2024 | 2023 |
|---|---|---|---|
| Operating activities | |||
| Net (loss) income | $(412,781) | $673,725 | $(352,088) |
| Adjustments to reconcile net (loss) income to net cash used in operating activities: | |||
| Depreciation and amortization | 5,177 | 5,653 | 6,623 |
| Stock-based compensation expense | 52,552 | 42,847 | 44,766 |
| Net accretion of discount on marketable securities | (7,195) | (14,486) | (5,051) |
| Gain on sale of contingent payments | — | (889,136) | — |
| Loss (gain) on disposal of property and equipment | 5 | (39) | 553 |
| Non-cash operating lease expense | 12,425 | 11,530 | 10,720 |
| Expense associated with license agreement | 10,000 | — | 17,500 |
| Realized gain on investments | (118) | (167) | (28) |
| Milestone payment from gain on sale of oncology business | — | (200,000) | — |
| Changes in operating assets and liabilities: | |||
| Accounts receivable, net | (6,468) | (1,299) | (604) |
| Inventory | (5,304) | (8,540) | (10,584) |
| Prepaid expenses and other current and non-current assets | (3,172) | (5,811) | 3,833 |
| Accounts payable | 1,746 | 6,601 | (8,733) |
| Accrued expenses | (1,402) | 3,694 | 12,817 |
| Income taxes payable | (871) | 871 | — |
| Operating lease liabilities | (16,781) | (15,008) | (13,663) |
| Other liabilities | (790) | (276) | (2,123) |
| Net cash used in operating activities | (372,977) | (389,841) | (296,062) |
| Investing activities | |||
| Purchases of marketable securities | (641,759) | (1,542,433) | (417,930) |
| Proceeds from maturities and sales of marketable securities | 1,033,259 | 818,383 | 674,679 |
| Proceeds from sale of contingent payments | — | 889,136 | — |
| Proceeds from milestone payment from gain on sale of oncology business | — | 200,000 | — |
| Payments associated with license agreement | (10,000) | — | (17,500) |
| Purchases of property and equipment | (4,316) | (1,685) | (999) |
| Proceeds from sale of equipment | — | 40 | 1,325 |
| Net cash provided by investing activities | 377,184 | 363,441 | 239,575 |
| Financing activities | |||
| Net proceeds from stock option exercises and employee stock purchase plan | 8,676 | 14,442 | 5,433 |
| Net cash provided by financing activities | 8,676 | 14,442 | 5,433 |
| Net change in cash and cash equivalents | 12,883 | (11,958) | (51,054) |
| Cash and cash equivalents at beginning of the period | 76,247 | 88,205 | 139,259 |
| Cash and cash equivalents at end of the period | $89,130 | $76,247 | $88,205 |
| Supplemental disclosure of non-cash investing and financing transactions: | |||
| Additions to property and equipment in accounts payable and accrued expenses | $283 | $317 | $55 |
| Net cash taxes paid | $628 | $43,150 | $1,569 |
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