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.
Agenus (AGEN) Q3 Earnings Beat Estimates, Revenues Up Y/Y
Read MoreHide Full Article
Agenus Inc. (AGEN - Free Report) reported third-quarter 2019 loss of 33 cents per share, narrower than the Zacks Consensus Estimate of a loss of 38 cents. However, the figure was wider than the year-ago quarter’s loss of 29 cents.
The company generated revenues of $20 million, including non-cash royalties, up from $13 million in the year-ago quarter. Revenues beat the Zacks Consensus Estimate of $16 million.
Shares of the company have rallied 29% year to date compared with the industry’s growth of 0.7%.
Quarterly Highlights
Research and development expenses surged 54.5% to $46.1 million. General and administrative expenses grew 16.3% to $11.1 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.
The company expects to file a biologics license application (BLA) for its CTLA-4 antibody, Zalifrelimab, and PD-1 antibody, Balstilimab, in 2020. It expects to commercialize both agents in the first half of 2021.
The company also anticipates initiating combination studies for NexGen CTLA-4 and PD-1 antibodies shortly.
Agenus advanced four novel discoveries to investigational new drug (IND) in 2019 and these are now set for clinical trials. These include the company’s next-generation CTLA-4, AGEN1181; the differentiated CD137 molecule, AGEN2373; the first-in-class Treg depleting bispecific antibody, AGEN1223; and GS-1423, a bi-functional molecule, which is now exclusively licensed to Gilead Sciences Inc. (GILD - Free Report) and being developed by them.
GlaxoSmithKline plc’s (GSK - Free Report) herpes zoster vaccine, Shingrix, which contains Agenus' proprietary immune adjuvant QS-21 Stimulon, achieved more than $1.6 billion in revenues in the first nine months of 2019.
Acorda’s loss per share estimates have narrowed from $2.74 to $2.18 for 2019 and from $3.42 to $1.95 for 2020 in the past 60 days. The company delivered a positive earnings surprise in the trailing four quarters, the average being 69.68%.
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market. Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2020.
Image: Bigstock
Agenus (AGEN) Q3 Earnings Beat Estimates, Revenues Up Y/Y
Agenus Inc. (AGEN - Free Report) reported third-quarter 2019 loss of 33 cents per share, narrower than the Zacks Consensus Estimate of a loss of 38 cents. However, the figure was wider than the year-ago quarter’s loss of 29 cents.
The company generated revenues of $20 million, including non-cash royalties, up from $13 million in the year-ago quarter. Revenues beat the Zacks Consensus Estimate of $16 million.
Shares of the company have rallied 29% year to date compared with the industry’s growth of 0.7%.
Quarterly Highlights
Research and development expenses surged 54.5% to $46.1 million. General and administrative expenses grew 16.3% to $11.1 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.
The company expects to file a biologics license application (BLA) for its CTLA-4 antibody, Zalifrelimab, and PD-1 antibody, Balstilimab, in 2020. It expects to commercialize both agents in the first half of 2021.
The company also anticipates initiating combination studies for NexGen CTLA-4 and PD-1 antibodies shortly.
Agenus advanced four novel discoveries to investigational new drug (IND) in 2019 and these are now set for clinical trials. These include the company’s next-generation CTLA-4, AGEN1181; the differentiated CD137 molecule, AGEN2373; the first-in-class Treg depleting bispecific antibody, AGEN1223; and GS-1423, a bi-functional molecule, which is now exclusively licensed to Gilead Sciences Inc. (GILD - Free Report) and being developed by them.
GlaxoSmithKline plc’s (GSK - Free Report) herpes zoster vaccine, Shingrix, which contains Agenus' proprietary immune adjuvant QS-21 Stimulon, achieved more than $1.6 billion in revenues in the first nine months of 2019.
Agenus Inc. Price
Agenus Inc. price | Agenus Inc. Quote
Zacks Rank & A Stock to Consider
Agenus currently carries a Zacks Rank #3 (Hold).
A better-ranked stock is Acorda Therapeutics Inc. , carrying a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Acorda’s loss per share estimates have narrowed from $2.74 to $2.18 for 2019 and from $3.42 to $1.95 for 2020 in the past 60 days. The company delivered a positive earnings surprise in the trailing four quarters, the average being 69.68%.
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market. Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2020.
Click here for the 6 trades >>