Agenus Inc. (AGEN - Free Report) incurred second-quarter 2017 loss of 32 cents per share, narrower than the Zacks Consensus Estimate of a loss of 36 cents and the year-ago loss of 33 cents.
Revenues were $4.2 million and missed the Zacks Consensus Estimate of $6 million. Also, the top line was down from $6.6 million in the year-ago quarter.
Notably, Agenus’ share price increased 2.4% year to date compared with the Zacks classified industry’s gain of 9.3%.
Agenus' second-quarter research and development (R&D) expenses were up 15.5% to $25.8 million. General and administrative expenses were also up 14.3% to $8.1 million.
Agenus is progressing well with various candidates in its pipeline. Currently, the company is evaluating AGEN1884 in a phase I study. It reported early safety and efficacy data on AGEN1884 at the ASCO conference in 2017. In fact, the company expects to complete the study in 2017.
Also, GlaxoSmithKline (GSK - Free Report) filed for regulatory approval of Shingrix vaccine, which contains Agenus' QS-21 Stimulon. In fact, GSK’s shingles has been filed for regulatory approval in the US, Canada, the EU and also in Japan. A decision is expected in the second half of this year.
Zacks Rank & Stocks to Consider
Agenus currently carries a Zacks Rank #2 (Hold). Other top ranked pharma stocks in the same space include Exelixis, Inc. (EXEL - Free Report) and Enzo Biochem, Inc. (ENZ - Free Report) sporting a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here
Exelixis’ pulled off positive earnings surprises in all the trailing four quarters, with an average beat of 543.59%. The share price of the company has increased 72.4% year to date.
Enzo Biochem’s loss per share estimates narrowed from 12 cents to 7 cents for 2017 and from 11 cents to 3 cents for 2018, over the last 60 days. The company delivered positive earnings surprises in all the trailing four quarters, with an average beat of 55.83%. The share price of the company has increased 60.9% year to date.
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