Agios Pharma (NASDAQ: AGIO) reported Q1 EPS of ($0.13), $0.79 better than the analyst estimate of ($0.92). Revenue for the quarter came in at $34.2 million versus the consensus estimate of $10.86 million.

Cash, cash equivalents and marketable securities as of March 31, 2015 were $440.0 million, compared to $467.4 million as of December 31, 2014. The decrease was driven by cash used to fund operating activities of approximately $32.2 million, which was offset by cost reimbursements of approximately $6.6 million made by Celgene during the first quarter of 2015 from the AG-221 program.

"Leveraging the foundation we built in 2014 and our unique scientific approach, the expansion of the AG-221 and AG-120 trials in hematologic malignancies positions Agios as a late-stage clinical development company," said David Schenkein, M.D., chief executive officer of Agios. "We are on track to achieve our remaining milestones for 2015, which include several important initiations: a global Phase 3 study for AG-221 in previously treated AML patients with an IDH2 mutation, clinical development for our third IDH mutant inhibitor, AG-881, and the first study evaluating AG-348 in patients with PK deficiency. We also plan to share the first data from AG-120 in solid tumor patients with an IDH1 mutation in the second half of the year. Our financial position remains strong to support all of these efforts."

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