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Agios Pharmaceuticals Files For IPO Of Up To $86 Mln

Biopharmaceutical company Agios Pharmaceuticals Inc has filed a registration statement on Form S-1 with the U.S. Securities and Exchange Commission to raise up to $86 million in an initial public offering of common stock. The company did not specify the number of shares to be sold and the price range for the proposed offering.

The Cambridge, Massachusetts-based company said in a preliminary prospectus that it intends to list its common stock on the Nasdaq under the symbol "AGIO".

The company, which was founded in 2007, specified that JP Morgan and Goldman Sachs & Co are lead underwriters in the IPO.

In April 2010, Agios entered into a collaboration agreement with Celgene corp (CELG.O) on a program focused on cancer metabolism.

Agios reported a net loss of $7.2 million on revenue of $6.3 million for the quarter ended March 31, according to the filing.

by RTTNews Staff Writer

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