Agenus (AGEN - Free Report) Reports Narrower than Expected Loss in Q2
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.
The company earns revenues primarily through fees received under collaboration and license agreements, which not only provide it with funds in the form of upfront and milestone payments and future royalties, but also validate the company’s proprietary product platform.
With no approved product in its portfolio yet, investor focus should remain on pipeline updates by the company. Agenus utilizes several platforms and programs for the development of its candidates – Retrocyte Display and SECANT technologies; antibody programs including checkpoint modulators (CPMs); vaccines program such as Prophage and AutoSynVax; and saponin-based vaccine adjuvants including QS-21 Stimulon adjuvant (QS-21 Stimulon). Additionally, the company expanded its antibody discovery platform by acquiring key antibody asset from Celexion.
Agenus’ track record has been mixed so far. The company has surpassed estimates once in the trailing four quarters and missed the same on two occasion and was in line on one occasion, bringing the average surprise to -15.97%.
Currently, Agenus has a Zacks Rank #4 (Sell), 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 a loss of 24 cents in the second quarter of 2018 which was narrower than both the consensus loss estimate of 38 cents per share, and a loss of 32 cents reported a year ago.
Revenue:Revenues beat expectations in the quarter. Agenus posted revenues of $15.9 million, compared to our consensus estimate of $2 million.
Share Price Impact: Shares rose 2.8% in pre-market trading.
Check back later for our full write up on AGEN earnings report later!
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