Agios Pharmaceuticals, Inc. (AGIO) saw its loss widen to $62.83 million, or $1.63 a share for the quarter ended Sep. 30, 2016. In the previous year period, the company reported a loss of $40.26 million, or $1.07 a share.
Revenue during the quarter surged 63.96 percent to $8.98 million from $5.48 million in the previous year period.
Operating loss for the quarter was $63.51 million, compared with an operating loss of $40.48 million in the previous year period.
"We have made significant progress during 2016, establishing proof of concept with our lead pyruvate kinase-R (PKR) activator, executing late-stage clinical development for both of our lead isocitrate dehydrogenase (IDH) mutant inhibitors in hematologic malignancies and strengthening our balance sheet through our recent financing," said David Schenkein, M.D., chief executive officer at Agios. "As we head into year end, we are focused on supporting the enasidenib NDA submission with our partner Celgene and planning for our next steps in clinical development for our PKR and IDH portfolios based on data we will present at a number of upcoming medical meetings this quarter."
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