Company: AGIO
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0001439222-25-000036
Chunk: 74

Company: AGIOS PHARMACEUTICALS, INC.
Filing Date: 2025-05-01
Form: 10-Q
Item: Part I, Item 1
Chunk 74
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 which there is little, if any, market activity for the asset or liability at the measurement date.The following table summarizes our cash equivalents and marketable securities measured at fair value and by level on a recurring basis as of March 31, 2025:(In thousands)Level 1Level 2Level 3TotalCash equivalents$49,604 $11,666 $— $61,270 Total cash equivalents49,604 11,666 — 61,270 Marketable securities:Certificates of deposit$— $6,763 $— $6,763 U.S. Treasuries— 234,111 — 234,111 Government securities— 271,964 — 271,964 Corporate debt securities— 832,826 — 832,826 Total marketable securities— 1,345,664 — 1,345,664 Total cash equivalents and marketable securities$49,604 $1,357,330 $— $1,406,934 Cash equivalents and marketable securities have been initially valued at the transaction price and are subsequently valued, at the end of each reporting period, utilizing third-party pricing services or other observable market data. The pricing services utilize industry standard valuation models, including both income and market-based approaches, and observable market inputs to determine value. After completing our validation procedures, we did not adjust or override any fair value measurements provided by the pricing services as of March 31, 2025.There have been no changes to the valuation methods during the three months ended March 31, 2025, and we had no financial assets or liabilities that were classified as Level 3 at any point during the three months ended March 31, 2025.

4. Marketable Securities

Our marketable securities are classified as available-for-sale pursuant to ASC 320, Investments – Debt and Equity Securities, and are recorded at fair value. Unrealized gains and losses are included as a component of accumulated other comprehensive income (loss) in the condensed consolidated balance sheets and statements of stockholders’ equity, and a component of total 

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comprehensive income (loss) in the condensed consolidated statements of comprehensive loss, until realized. Unrealized losses are evaluated for impairment under ASC 326, Financial Instruments - Credit Losses, to determine if the impairment is credit-related or noncredit-related. Credit-related impairment is recognized as an allowance on the condensed consolidated balance sheets with a corresponding adjustment to earnings,