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Agenus (AGEN) Reports Narrower-than-Expected Q2 Loss
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Agenus Inc. (AGEN - Free Report) is a Lexington, MA-based development-stage company focused on the discovery and development of checkpoint modulators, vaccines and adjuvants for the treatment of cancer.
Agenus’ revenues consist of fees earned under license agreements with its partners. With no approved products in its portfolio, investor focus should remain on the company’s pipeline updates.
Agenus’ track record has been disappointing so far. The company has missed estimates in all of the last four quarters, with an average surprise of -54.65%.
Currently, Agenus has a Zacks Rank #3 (Hold), but that could definitely change following the company’s earnings report which was just released. We have highlighted some of the key stats from this just-revealed announcement below:
Earnings: Agenus reported narrower-than-expected loss in the second quarter of 2016. Our consensus called for a loss of 34 cents per share, while the company reported a loss of 24 cents.
Revenue: Revenues also surpassed expectations. Agenus posted revenues of $6.6 million, compared to our consensus estimate of $6 million.
Key Stats: Agenus’ efforts for the development of its pipeline are pleasing. Agenus received a major boost when the FDA cleared its Investigational New Drug (IND) application for AGEN1884 and INCAGN01876. A phase I study on AGEN1884 and a phase I/II study on INCAGN01876 has been initiated to treat solid tumors. The selection of Agenus’ lead candidate as well as several backup antibodies by Merck for an undisclosed checkpoint target led the company to receive a milestone payment of $2 million under the terms of the agreement.
Check back later for our full write up on earnings report later!
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Agenus (AGEN) Reports Narrower-than-Expected Q2 Loss
Agenus Inc. (AGEN - Free Report) is a Lexington, MA-based development-stage company focused on the discovery and development of checkpoint modulators, vaccines and adjuvants for the treatment of cancer.
Agenus’ revenues consist of fees earned under license agreements with its partners. With no approved products in its portfolio, investor focus should remain on the company’s pipeline updates.
Agenus’ track record has been disappointing so far. The company has missed estimates in all of the last four quarters, with an average surprise of -54.65%.
Currently, Agenus has a Zacks Rank #3 (Hold), but that could definitely change following the company’s earnings report which was just released. We have highlighted some of the key stats from this just-revealed announcement below:
Earnings: Agenus reported narrower-than-expected loss in the second quarter of 2016. Our consensus called for a loss of 34 cents per share, while the company reported a loss of 24 cents.
Revenue: Revenues also surpassed expectations. Agenus posted revenues of $6.6 million, compared to our consensus estimate of $6 million.
Key Stats: Agenus’ efforts for the development of its pipeline are pleasing. Agenus received a major boost when the FDA cleared its Investigational New Drug (IND) application for AGEN1884 and INCAGN01876. A phase I study on AGEN1884 and a phase I/II study on INCAGN01876 has been initiated to treat solid tumors. The selection of Agenus’ lead candidate as well as several backup antibodies by Merck for an undisclosed checkpoint target led the company to receive a milestone payment of $2 million under the terms of the agreement.
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Check back later for our full write up on earnings report later!
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free report >>