Company: AGIO
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0001439222-25-000036
Chunk: 115

Company: AGIOS PHARMACEUTICALS, INC.
Filing Date: 2025-05-01
Form: 10-Q
Item: Part I, Item 8
Chunk 115
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 have a material impact on our financial statements upon adoption.

3. Fair Value Measurements

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 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