Company: AGIO
Filing Date: 2025-07-31
Form Type: 10-Q
Source: 0001439222-25-000089
Chunk: 126

Company: AGIOS PHARMACEUTICALS, INC.
Filing Date: 2025-07-31
Form: 10-Q
Item: Part I, Item 1
Chunk 126
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 feet of office space on the first floor of 64 Sidney Street, Cambridge, Massachusetts, which expired on July 31, 2025. In July 2025, we entered into a long-term sublease agreement with a new tenant for the same space, which will begin in November 2025 with the term of the lease running through February 2028.We recorded operating sublease income of $0.5 million and $1.6 million for the three months ended June 30, 2025 and 2024, respectively, and $1.8 million and $3.2 million for the six months ended June 30, 2025 and 2024, respectively, in other income, net in the condensed consolidated statements of operations. We hold security deposits from our sublessee of approximately $0.1 million which is recorded within other non-current assets on our condensed consolidated balance sheet.As of June 30, 2025, the future minimum lease payments to be received under the long-term sublease agreements were as follows:(In thousands)Remaining 2025$31 Total$31 

7. Accrued Expenses

Accrued expenses consisted of the following:(In thousands)June 30,2025December 31, 2024Accrued compensation$15,323 $29,935 Accrued research and development costs13,065 10,548 Accrued professional fees3,153 4,316 Accrued other3,748 2,062 Total accrued expenses$35,289 $46,861 

8. Product Revenue

We generate product revenue from sales of PYRUKYND® to a limited number of specialty distributors and specialty pharmacy providers, or collectively, the Customers. These Customers subsequently resell PYRUKYND® to pharmacies or dispense PYRUKYND® directly to patients. In addition to distribution agreements with Customers, we enter into arrangements with healthcare providers and payors that provide for government-mandated and/or privately-negotiated rebates, chargebacks and discounts with respect to the purchase of PYRUKYND®.The performance obligation related to the sale of PYRUKYND® is satisfied and revenue is recognized when the Customer obtains control of the product, which occurs at a point in time, typically upon delivery to the Customer.Product revenue, net, were as follows: Three Months Ended June 30,Six Months Ended June 30,(In thousands)202520