Company: AGIO
Filing Date: 2025-02-13
Form Type: 10-K
Source: 0001439222-25-000009
Chunk: 405

Company: AGIOS PHARMACEUTICALS, INC.
Filing Date: 2025-02-13
Form: 10-K
Item: Item 1
Chunk 405
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Research and Development Expenses

Our research and development expenses, by major program, are outlined in the table below: (In thousands)202420232022PK activator (PYRUKYND®)$112,720 $101,322 $83,271 Novel PK activator (tebapivat)14,544 18,267 15,747 In-process research and development— 17,500 — Other research and platform programs20,730 11,492 26,837 Total direct research and development expenses147,994 148,581 125,855 Compensation and related expenses114,618 108,484 109,248 Facilities and IT related expenses & other38,674 38,461 43,290 Other expenses - transition services— — 1,517 Total indirect research and development expenses153,292 146,945 154,055 Total research and development expense$301,286 $295,526 $279,910 

Total Research and Development Expenses – 2024 vs. 2023 – The increase in research and development expenses of $5.8 million in 2024 compared to 2023 was due to a $6.3 million increase in our indirect expenses, partially offset by a $0.6 million decrease in our direct expenses. The increase in indirect expenses was primarily due to a $6.1 million increase in compensation and related expenses due to an increase in workforce related expenses. The decrease in direct expenses was due to the $17.5 million up-front payment in 2023 associated with the Alnylam license agreement discussed above under Overview 

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and a decrease of $3.7 million in tebapivat costs due to decreased costs associated with clinical trials of tebapivat in patients with SCD and MDS, offset by an $11.4 million increase in PYRUKYND® costs and a $9.2 million increase in other research and platform programs. The increase in PYRUKYND® costs was primarily due to increased process development expenses and increased costs associated with clinical trials for patients with SCD, partially offset by lower costs associated with the phase 3 clinical trials of PYRUKYND® in patients with thalassemia, ENERGIZE and ENERGIZE-T. The increase in other research and platform programs was primarily a result of costs associated with AG-