Company: AGIO
Filing Date: 2025-07-31
Form Type: 10-Q
Source: 0001439222-25-000089
Chunk: 122

Company: AGIOS PHARMACEUTICALS, INC.
Filing Date: 2025-07-31
Form: 10-Q
Item: Part I, Item 1
Chunk 122
---
We record cash equivalents and marketable securities at fair value. ASC 820, Fair Value Measurements and Disclosures, establishes a fair value hierarchy for those instruments measured at fair value that distinguishes between assumptions based on market data (observable inputs) and our own assumptions (unobservable inputs). The hierarchy consists of three levels:Level 1 – Unadjusted quoted prices in active markets for identical assets or liabilities.Level 2 – Quoted prices for similar assets and liabilities in active markets, quoted prices in markets that are not active, or inputs which are observable, directly or indirectly, for substantially the full term of the asset or liability.Level 3 – Unobservable inputs that reflect our own assumptions about the assumptions market participants would use in pricing the asset or liability in 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 June 30, 2025:(In thousands)Level 1Level 2Level 3TotalCash equivalents$37,669 $16,282 $— $53,951 Total cash equivalents37,669 16,282 — 53,951 Marketable securities:Certificates of deposit$— $7,511 $— $7,511 U.S. Treasuries— 264,642 — 264,642 Government securities— 226,357 — 226,357 Corporate debt securities— 760,023 — 760,023 Total marketable securities— 1,258,533 — 1,258,533 Total cash equivalents and marketable securities$37,669 $1,274,815 $— $1,312,484 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 June 30, 2025.

8

There have been no changes to the valuation methods during the six months ended June 30, 2025, and we had no financial assets or liabilities that were classified as Level 3 at any point during the six months ended