Zacks
0
All posts from Zacks
Zacks in Our Research. Your Success.,

Agenus (AGEN) Reports Wider-than-Expected Q1 Loss

Agenus Inc. AGEN is a Lexington, MA-based development-stage company focused on developing immunotherapies for cancer and other diseases.

With no approved products in its portfolio, Agenus’ revenues consist of fees earned under license agreements with its partners. Meanwhile, investor focus remains on updates on pipeline progress apart from the usual top-line numbers.

Agenus’ track record has been disappointing so far. The company has missed estimates in all of the last four quarters, with an average negative surprise of 61.39%.

Currently, Agenus has a Zacks Rank #3 (Hold), 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 wider-than-expected loss in the first quarter of 2016. Our consensus called for a loss of 23 cents per share, while the company reported a loss of 37 cents.

Revenue: Revenues also missed expectations. Agenus posted revenues of $6 million, compared to our consensus estimate of $7 million.

Key Stats: Agenus’ efforts for the development of its pipeline are pleasing. Agenus received a major boost when the FDA cleared its Investigational New Drug (IND) application for AGEN1884 and INCAGN01876. A phase I study on AGEN1884 has been initiated to treat solid tumors. The company is progressing with the development of its Prophage vaccine, which is scheduled to enter into a phase III study in 2016. Moreover, the company expects to initiate a number of phase I studies on additional checkpoint antibody candidates in 2016.

Check back later for our full write up on earnings report later!

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>


Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
 
AGENUS INC (AGEN): Free Stock Analysis Report
 
To read this article on Zacks.com click here.
 
Zacks Investment Research