Back to top
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Merck & Co., Inc. (MRK) - free report >>
Nektar Therapeutics (NKTR) - free report >>
We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Merck & Co., Inc. (MRK) - free report >>
Nektar Therapeutics (NKTR) - free report >>
Image: Bigstock
Agenus (AGEN) Posts Narrower than Expected Loss in Q2
Agenus Inc. (AGEN - Free Report) reported second-quarter 2016 loss of 24 cents per share, narrower than both the Zacks Consensus Estimate of a loss of 34 cents and the year-ago loss of 44 cents.
Moreover, revenues surged 10% year over year to almost $6.6 million and were slightly above the Zacks Consensus Estimate of $6 million.
Quarterly Highlights
Agenus’ second-quarter research and development (R&D) expenses were down 9.7% to $22.4 million. Likewise, general and administrative expenses declined 11.2% to $7.1 million.
Selection of Agenus’ lead candidate, along with several backup antibodies, by Merck & Co. Inc. (MRK - Free Report) for an undisclosed checkpoint target led the company to receive a milestone payment worth $2 million. Under the terms of the agreement, Agenus will receive up to $100 million in milestone payments, in addition to royalties on worldwide product sales.
Pipeline Update
Agenus is progressing with the candidates in its pipeline. Currently, the company is evaluating AGEN1884 in a phase I study and INCAGN01876 in a phase I/II study for the treatment of solid tumors.
The company plans to initiate studies on its second anti-CTLA-4 antibody, AGEN2041, in 2017. Agenus also expects to begin combination studies on AGEN2041 and AGEN1884 in the first half of 2017.
AGENUS INC Price and EPS Surprise
AGENUS INC Price and EPS Surprise | AGENUS INC Quote
Our Take
Agenus second-quarter results were impressive, with the company reporting a narrower-than-expected loss and revenues beating estimates. We are encouraged by the company’s efforts to develop its pipeline and expect investor focus on further updates by the company.
Agenus currently carries a Zacks Rank #3 (Hold). A couple of better-ranked stocks in the health care sector are Nektar Therapeutics (NKTR - Free Report) and ANI Pharmaceuticals, Inc. (ANIP - Free Report) . Both these stocks sport a Zacks Rank #1 (Strong Buy).
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 >>