Company: AGIO
Filing Date: 2025-02-13
Form Type: 10-K
Source: 0001439222-25-000009
Chunk: 252

Company: AGIOS PHARMACEUTICALS, INC.
Filing Date: 2025-02-13
Form: 10-K
Item: Item 1
Chunk 252
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 is recorded within prepaid expenses and other current assets in our consolidated balance sheets.

F-26

Note 12. Property and Equipment, net

Property and equipment, net consisted of the following at December 31:(In thousands)20242023Laboratory equipment$17,529 $17,433 Computer equipment and software6,454 6,566 Leasehold improvements37,519 37,277 Furniture and fixtures3,454 3,459 Office equipment2,319 2,268 Construction in progress897 608 Total property and equipment68,172 67,611 Less: accumulated depreciation(56,497)(52,229)Total property and equipment, net$11,675 $15,382 Depreciation expense for the years ended December 31, 2024, 2023 and 2022 was $5.7 million, $6.6 million and $8.4 million, respectively.

Note 13. Common Stock

We are authorized to issue 125,000,000 shares of our common stock. Holders of common stock are entitled to one vote per share. Additionally, holders of common stock are entitled to receive dividends, if and when declared by our board of directors, and to share ratably in our assets legally available for distribution to our shareholders in the event of liquidation. 

Note 14. Commitments and Contingent Liabilities 

Manufacturing CommitmentsWe are party to various agreements with contract manufacturing organizations that we are not contractually able to terminate for convenience and avoid any and all future obligations to the vendors. Under such agreements, we are obligated to make certain minimum payments, with the exact amounts in the event of termination to be based on the timing of the termination and the exact terms of the agreement.Legal ContingenciesFrom time to time, we may be involved in disputes and legal proceedings in the ordinary course of business. These proceedings may include allegations of infringement of intellectual property, employment or other matters. We do not have any ongoing legal proceedings that, based on our estimates, could have a material effect on our consolidated financial statements.

Note 15. Defined Contribution Benefit Plan

We sponsor a 401(k) retirement plan, in which substantially all our full-time employees are eligible to participate. Participants may contribute a percentage of their annual compensation to this plan, subject to statutory limitations. We will make matching contributions equal to 100% of the employee’s contributions, subject to a maximum of 4%