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Agenus (AGEN) Q1 Earnings Beat Estimates, Revenues Miss

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Agenus Inc. (AGEN - Free Report) reported first-quarter 2019 earnings of 12 cents per share against the Zacks Consensus Estimate of a loss of 30 cents and the year-ago quarter’s loss of 42 cents.

The company generated revenues of $8.6 million, which includes non-cash royalties, compared with no revenues in the year-ago quarter. Revenues marginally missed the Zacks Consensus Estimate of $9 million.

Shares of the company have rallied 21% year to date compared with the industry’s growth of 3.3%.

 

Quarterly Highlights

Research and development (R&D) expenses rallied 36.3% to $40.1 million. General and administrative expenses increased 26.8% to $10.2 million.

Pipeline Update

Agenus is a clinical-stage, immuno-oncology company with a comprehensive portfolio, consisting of antibody-based therapeutics, adjuvants and cancer vaccine platforms.

In December 2018, the company inked a collaboration deal with Gilead Sciences Inc. (GILD - Free Report) to develop and commercialize up to five immuno-oncology (I-O) therapies. In January 2019, it announced the closing of its I-O partnership deal with Gilead.

Agenus recently received $7.5 million in cash as a milestone payment from Gilead, after the FDA accepted the former's investigational new drug (IND) application for AGEN1423 (Now GS-1423). AGEN1423 is a first-in-class molecule, currently being developed in partnership with Gilead as a potential treatment for cancer. Agenus also received additional milestones of $150 million from Gilead.

The company started first-in-human trial with its next-generation CTLA4.

Agenus Inc. Price, Consensus and EPS Surprise

Agenus Inc. Price, Consensus and EPS Surprise

Agenus Inc. price-consensus-eps-surprise-chart | Agenus Inc. Quote

Zacks Rank and Stocks to Consider

Agenus currently carries a Zacks Rank #3 (Hold).

Some better-ranked stocks are Fibrocell Science Inc. and Genmab A/S (GNMSF - Free Report) . Both the stocks sport a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Fibrocell’s loss per share estimates has narrowed from $2.68 to $1.15 for 2019 and from $2.55 to 97 cents for 2020 in the past 60 days. The company delivered a positive earnings surprise in two of the trailing four quarters, the average being 28.30%.

Genmab’s earnings per share estimates have increased from $2.69 to $2.79 for 2019 and from $4.91 to $5.08 for 2020 in the past 60 days.

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