Agios Pharmaceuticals Inc., of Cambridge, Mass., reported second-quarter revenue of $27.6 million for acute myeloid leukemia drug Tibsovo (ivosidenib) and reiterated 2020 revenue guidance of $105 million to $115 million. The company posted a net loss of $90.5 million, or $1.31 per share, for the quarter. As of June 30, its cash, equivalents and marketable securities totaled $794 million, including $255 million from a royalty purchase agreement with Royalty Pharma for Idhifa (enasidenib). Shares of Agios (NASDAQ:AGIO) closed July 30 at $47.45, down $1.95.
Alexion Pharmaceuticals Inc., of Boston, reported total revenue of about $1.4 billion for the second quarter, a 20% increase over the same period in 2019. The company reported a net loss of about $1.1 billion and a GAAP diluted earnings per share loss of $4.84 for the quarter, which included impairment charges of about $2.1 billion primarily relating to the Kanuma (sebelipase alfa) intangible asset as a result of the firm’s revised strategic view of the enzyme replacement therapy for lysosomal acid lipase deficiency. Top-selling product again was C5 complement inhibitor Soliris (eculizumab), with net sales of $975.5 million for the second quarter, down slightly from the $980.8 million in the same quarter in 2019. However, sales of Ultomiris (ravulizumab), its long-acting C5 complement inhibitor, jumped 363% year over year to $251.1 million, as patients switched to the more convenient option. Sales of Strensiq (asfotase alfa) were $184.3 million for the quarter, while sales of Kanuma were 433.6 million. Alexion ended the quarter with about $2.8 billion in cash and equivalents. The company’s shares (NASDAQ:ALXN) closed July 30 at $104.81, up 21 cents.
Blueprint Medicines Corp., of Cambridge, Mass., reported second-quarter net revenue of $5.7 million for Ayvakit (avapritinib), approved in January to treat gastrointestinal stromal tumors. Total revenue for the quarter totaled $8.3 million. The company’s net loss was $123.5 million, or $2.28 per share. As of June 30, its cash position was $650.3 million. Shares of Blueprint (NASDAQ:BPMC) closed July 30 at $73.89, up 14 cents.