Agios To Receive $1.1B Milestone Payments After FDA Approval Of Vorasidenib
Portfolio Pulse from Benzinga Newsdesk
Agios Pharmaceuticals is set to receive $1.1 billion in milestone payments following the FDA approval of Vorasidenib. The payments include $905 million from Royalty Pharma and $200 million from Servier, expected in Q3 2024. This will boost Agios' pro-forma cash position to $1.7 billion as of June 30, 2024, enabling the company to prepare for potential launches of PYRUKYND® (Mitapivat) in Thalassemia in 2025 and Sickle Cell Disease in 2026, and to drive pipeline progress.
August 06, 2024 | 9:51 pm
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Agios Pharmaceuticals will receive $1.1 billion in milestone payments after FDA approval of Vorasidenib, significantly boosting its cash position. This financial strength will support the company's future product launches and pipeline development.
The milestone payments will significantly enhance Agios' cash position, providing the financial resources needed for upcoming product launches and pipeline development. This is likely to positively impact the stock price in the short term.
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