Cambridge biotech Agios Pharmaceuticals files for an IPO
Agios Pharmaceuticals Inc. is the latest Massachusetts biotechnology company to explore an initial public stock offering this year.
In a regulatory documents, Cambridge-based Agios said it is planning to move forward with an IPO.
According to an estimate by the Reuters news service, the company could raise up to $86 million in an initial public offering of common stock.
Agios looks to use its expertise in cellular metabolism to develop treatments for cancer.
In 2012, Agios reported revenue of about $25 million and a net loss applicable to common shareholders of about $27.3 million.
IPOs for biotech companies seem to be heating up. Two weeks ago, shares of Cambridge biotechnology company Epizyme Inc. soared by more than 50 percent on their first day of trading.
Epizyme was at least the third Bay State biotech company to go public this year — following TetraPhase Pharmaceuticals and Enanta Pharmaceuticals, both of Watertown. The Globe reported earlier that roughly 25 biotech companies nationwide could go public this year, which would be the most since 2007.Chris Reidy can be reached at email@example.com.