AGIOS PHARMACEUTICALS INC
For the period ended Dec 31, 2023. Filed Feb 15, 2024.
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FY2023 · Filed Feb 15, 2024
AGIO$31.76+1.2%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 8. Consolidated Statements of Cash Flows
Consolidated Statements of Cash Flows
| (In thousands) Years Ended December 31: | 2023 | 2022 | 2021 |
|---|---|---|---|
| Operating activities | |||
| Net (loss) income | $(352,088) | $(231,801) | $1,604,715 |
| Less: Net income from discontinued operations | — | — | 1,961,225 |
| Net loss from continuing operations | (352,088) | (231,801) | (356,510) |
| Adjustments to reconcile net loss to net cash used in operating activities: | |||
| Depreciation and amortization | 6,623 | 8,564 | 9,240 |
| Stock-based compensation expense | 44,766 | 49,296 | 53,508 |
| Net (accretion of discount) amortization of premium on marketable securities | (5,051) | (1,198) | 6,949 |
| Gain on sale of contingent payments | — | (127,853) | — |
| Loss (gain) on disposal of property and equipment | 553 | (48) | 12 |
| Non-cash operating lease expense | 10,720 | 9,995 | 9,537 |
| Expense associated with license agreement | 17,500 | — | — |
| Realized gain on investments | (28) | — | — |
| Changes in operating assets and liabilities: | |||
| Accounts receivable, net | (604) | (2,206) | — |
| Inventory | (10,584) | (8,492) | — |
| Other receivables | — | 447 | (4,378) |
| Prepaid expenses and other current and non-current assets | 3,833 | (176) | (26,846) |
| Accounts payable | (8,733) | 3,436 | 1,863 |
| Accrued expenses | 12,817 | (1,617) | 66 |
| Operating lease liabilities | (13,663) | (10,828) | (7,527) |
| Other liabilities | (2,123) | 3,003 | — |
| Net cash used in operating activities - continuing operations | (296,062) | (309,478) | (314,086) |
| Net cash used in operating activities - discontinued operations | — | — | (93,234) |
| Net cash used in operating activities | (296,062) | (309,478) | (407,320) |
| Investing activities | |||
| Purchases of marketable securities | (417,930) | (1,030,781) | (1,378,221) |
| Proceeds from maturities and sales of marketable securities | 674,679 | 1,146,175 | 829,804 |
| Proceeds from sale of contingent payments | — | 131,784 | — |
| Payments associated with license agreement | (17,500) | — | — |
| Purchases of property and equipment | (999) | (4,881) | (5,741) |
| Proceeds from sale of equipment | 1,325 | 964 | — |
| Net cash provided by (used in) investing activities - continuing operations | 239,575 | 243,261 | (554,158) |
| Net cash provided by investing activities - discontinued operations | — | — | 1,802,936 |
| Net cash provided by investing activities | 239,575 | 243,261 | 1,248,778 |
| Financing activities | |||
| Payments on financing lease obligations | — | (331) | (578) |
| Purchase of treasury stock | — | — | (802,486) |
| Net proceeds from stock option exercises and employee stock purchase plan | 5,433 | 2,681 | 37,296 |
| Net cash provided by (used in) financing activities | 5,433 | 2,350 | (765,768) |
| Net change in cash and cash equivalents | (51,054) | (63,867) | 75,690 |
| Cash and cash equivalents at beginning of the period | 139,259 | 203,126 | 127,436 |
| Cash and cash equivalents at end of the period | $88,205 | $139,259 | $203,126 |
| Supplemental disclosure of non-cash investing and financing transactions: | |||
| Additions to property and equipment in accounts payable and accrued expenses | $55 | $158 | $1,678 |
| Net cash taxes paid | $1,569 | $— | $16,078 |
| Financing lease liabilities arising from obtaining financing lease assets | $— | $— | $511 |
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