Company: AGIO
Filing Date: 2025-07-31
Form Type: 10-Q
Source: 0001439222-25-000089
Chunk: 125

Company: AGIOS PHARMACEUTICALS, INC.
Filing Date: 2025-07-31
Form: 10-Q
Item: Part I, Item 1
Chunk 125
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509 Finished goods3,552 3,018 Total inventory$30,848 $27,616 

6. Leases

Our building leases are comprised of office and laboratory space under non-cancelable operating leases. These lease agreements have remaining lease terms of approximately three years and contain various clauses for renewal at our option. The renewal options were not included in the calculation of the operating lease assets and the operating lease liabilities as the renewal options are not reasonably certain of being exercised. The lease agreements do not contain residual value guarantees. The components of lease expense and other information related to leases were as follows:Three Months Ended June 30,Six Months Ended June 30,(In thousands)2025202420252024Operating lease costs$3,806 $3,806 $7,613 $7,613 Cash paid for amounts included in the measurement of operating lease liabilities4,911 4,678 9,748 9,331 We have not entered into any material short-term leases or financing leases as of June 30, 2025.In arriving at the operating lease liabilities as of June 30, 2025 and December 31, 2024, we applied the weighted-average incremental borrowing rate of 5.7% for both periods over a weighted-average remaining lease term of 2.7 and 3.2 years, respectively. As of June 30, 2025, undiscounted minimum rental commitments under non-cancelable leases were as follows:(In thousands)Remaining 2025$8,195 202620,151 202720,755 20283,479 Undiscounted minimum rental commitments$52,580 Interest(3,820)Operating lease liabilities$48,760 We provided our landlord a security deposit of $2.9 million as security for our leases, which is included within other non-current assets on our condensed consolidated balance sheet.

10

In August 2021, we entered into a long-term sublease agreement for 13,000 square feet of the office space at 38 Sidney Street, Cambridge, Massachusetts, which expired on December 31, 2024. In April 2022, we entered into a long-term sublease agreement for 27,000 square feet of the office space at 64 Sidney Street, Cambridge, Massachusetts, which expired on April 30, 2025.In May 2023, we entered into a long-term sublease agreement for 7,407 square