Agenus Inc. (AGEN - Free Report) reported second-quarter 2018 adjusted loss of 24 cents per share, narrower than both the Zacks Consensus Estimate of loss of 38 cents and the year-ago loss of 32 cents.
The company generated revenues of 16 million, which include milestone achievements and non-cash royalties earned compared with $4.2 million in the year ago quarter. Revenues beat the Zacks Consensus Estimate of $2 million.
So far this year, shares of Agenus have declined 46.4% compared with the industry’s decrese of 4.6%.
Quarterly Highlights
Agenus’ second-quarter research and development (R&D) expenses increased 13.4% to $29.3 million. General and administrative expenses increased by 16.6% to $9.5 million.
Pipeline Update
Agenus is progressing well with various pipeline candidates. The company is advancing its proprietary CTLA-4 and PD-1 programs in three studies designed to take advantage of accelerated pathways and targets a biologics license application (BLA) filing as early as 2020.
The company delivered on its partnership commitments with Merck (MRK - Free Report) and Incyte (INCY - Free Report) , with two programs in the clinic this year and a third expected before the end of 2018, each triggering a cash milestone.
The company filed three investigational new drugs (INDs) in 2018 and three additional INDs will be filed by the end of 2018. Among these is the company’s next gen CTLA-4, which is designed to deplete cancer-prone Tregs and improve T-cell priming.
Zacks Rank & Stock to Consider
Agenus currently has a Zacks Rank #3 (Hold).
A better-ranked stock from the same space worth considering is Gilead Sciences Inc. (GILD - Free Report) , carrying a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Gilead’s earnings per share estimates have increased from $6.12 to $6.57 for 2018 and from $6.36 to $6.48 for 2019 over the past 30 days. The company delivered a positive earnings surprise in three of the trailing four quarters, with an average beat of 6.43%. The stock has rallied 8.9% so far this year.
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Agenus Inc. (AGEN - Free Report) reported second-quarter 2018 adjusted loss of 24 cents per share, narrower than both the Zacks Consensus Estimate of loss of 38 cents and the year-ago loss of 32 cents.
The company generated revenues of 16 million, which include milestone achievements and non-cash royalties earned compared with $4.2 million in the year ago quarter. Revenues beat the Zacks Consensus Estimate of $2 million.
So far this year, shares of Agenus have declined 46.4% compared with the industry’s decrese of 4.6%.
Quarterly Highlights
Agenus’ second-quarter research and development (R&D) expenses increased 13.4% to $29.3 million. General and administrative expenses increased by 16.6% to $9.5 million.
Pipeline Update
Agenus is progressing well with various pipeline candidates. The company is advancing its proprietary CTLA-4 and PD-1 programs in three studies designed to take advantage of accelerated pathways and targets a biologics license application (BLA) filing as early as 2020.
The company delivered on its partnership commitments with Merck (MRK - Free Report) and Incyte (INCY - Free Report) , with two programs in the clinic this year and a third expected before the end of 2018, each triggering a cash milestone.
The company filed three investigational new drugs (INDs) in 2018 and three additional INDs will be filed by the end of 2018. Among these is the company’s next gen CTLA-4, which is designed to deplete cancer-prone Tregs and improve T-cell priming.
Zacks Rank & Stock to Consider
Agenus currently has a Zacks Rank #3 (Hold).
A better-ranked stock from the same space worth considering is Gilead Sciences Inc. (GILD - Free Report) , carrying a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Gilead’s earnings per share estimates have increased from $6.12 to $6.57 for 2018 and from $6.36 to $6.48 for 2019 over the past 30 days. The company delivered a positive earnings surprise in three of the trailing four quarters, with an average beat of 6.43%. The stock has rallied 8.9% so far this year.
5 Medical Stocks to Buy Now
Zacks names 5 companies poised to ride a medical breakthrough that is targeting cures for leukemia, AIDS, muscular dystrophy, hemophilia, and other conditions. New products in this field are already generating substantial revenue and even more wondrous treatments are in the pipeline. Early investors could realize exceptional profits.
Click here to see the 5 stocks >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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