Company: AGIO
Filing Date: 2025-10-30
Form Type: 10-Q
Source: 0001439222-25-000116
Chunk: 178

Company: AGIOS PHARMACEUTICALS, INC.
Filing Date: 2025-10-30
Form: 10-Q
Item: Part I, Item 8
Chunk 178
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The components of lease expense and other information related to leases were as follows:Three Months Ended September 30,Nine Months Ended September 30,(In thousands)2025202420252024Operating lease costs$3,807 $3,807 $11,420 $11,420 Cash paid for amounts included in the measurement of operating lease liabilities4,916 4,684 14,664 14,015 We have not entered into any material short-term leases or financing leases as of September 30, 2025.In arriving at the operating lease liabilities as of September 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 2.4 and 3.2 years, respectively. As of September 30, 2025, undiscounted minimum rental commitments under non-cancelable leases were as follows:(In thousands)Remaining 2025$3,279 202620,151 202720,755 20283,479 Undiscounted minimum rental commitments47,664 Interest(3,149)Operating lease liabilities$44,515 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.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 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 less than $0.1 million and $1.6 million for the three months ended September 30, 2025 and 2024, respectively