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Agios Pharmaceuticals Announces Closing of Public Offering and Full Exercise of Over-Allotment Option

CAMBRIDGE, Mass., Dec. 16, 2014 (GLOBE NEWSWIRE) -- Agios Pharmaceuticals, Inc. (Nasdaq:AGIO) today announced the closing of its previously announced underwritten public offering of common stock, including the exercise in full by the underwriters of their option to purchase an additional 297,968 shares at the public offering price of $110.75 per share. The exercise of the over-allotment option brought the total number of shares of common stock sold by Agios to 2,284,423 shares and increased the amount of gross proceeds raised in the offering, before underwriting discounts and estimated expenses of the offering, to approximately $253 million.

J.P. Morgan Securities LLC and Goldman, Sachs & Co. acted as joint book-running managers for the offering. Cowen and Company, LLC and Leerink Partners LLC served as co-managers.

The shares were offered by Agios pursuant to an automatically effective shelf registration statement that was previously filed with the Securities and Exchange Commission ("SEC"). A prospectus supplement relating to and describing the terms of the offering has been filed with the SEC and is available on the SEC's web site at www.sec.gov. Copies of the prospectus supplement and the accompanying prospectus relating to this offering can be obtained from J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, telephone: 866-803-9204; or Goldman, Sachs, & Co., Attn: Prospectus Department, 200 West Street, New York, NY 10282, telephone: 866-471-2526, facsimile: 212-902-9316, e-mail: prospectus-ny@ny.email.gs.com.

This press release does not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Agios Pharmaceuticals, Inc.

Agios Pharmaceuticals is focused on discovering and developing novel drugs to treat cancer and rare genetic disorders of metabolism, which are a subset of orphan genetic metabolic diseases, through scientific leadership in the field of cellular metabolism. In addition to an active research and discovery pipeline across both therapeutic areas, Agios has multiple first-in-class lead investigational medicines in cancer metabolism and rare genetic disorders in clinical development.

Cautionary Note Regarding Forward Looking Statements

This press release contains forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995. The words "anticipate," "believe," "estimate," "expect," "intend," "may," "plan," "predict," "project," "would" and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Actual results may differ materially from those projected or implied in these forward-looking statements. Factors that may cause such a difference include, without limitation, risks and uncertainties inherent in the research, development and commercialization of drugs to treat human diseases and disorders, and those related to the impact of general economic, industry or political conditions in the United States or internationally. You should not place undue reliance on these forward-looking statements. Additional risks and uncertainties relating to the offering, Agios and its business can be found under the caption "Risk Factors" included in Agios' prospectus supplement filed with the SEC on December 10, 2014, under the caption "Risk Factors" included in Agios' Annual Report on Form 10-K for the year ended December 31, 2013, and in other filings that Agios makes with the SEC. Any forward-looking statements contained in this press release speak only as of the date hereof, and Agios anticipates that subsequent events and developments will cause its views to change. While Agios may elect to update these forward-looking statements at some point in the future, Agios expressly disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.

CONTACT: Agios Pharmaceuticals, Inc. Lora Pike Senior Director, Investor Relations and Public Relations Lora.pike@agios.com

Source:Agios Pharmaceuticals