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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.
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.
Biggest Tech Breakthrough in a Generation
Be among the early investors in the new type of device that experts say could impact society as much as the discovery of electricity. Current technology will soon be outdated and replaced by these new devices. In the process, it’s expected to create 22 million jobs and generate $12.3 trillion in activity.
A select few stocks could skyrocket the most as rollout accelerates for this new tech. Early investors could see gains similar to buying Microsoft in the 1990s. Zacks’ just-released special report reveals 7 stocks to watch. The report is only available for a limited time.
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Agenus (AGEN) Q1 Earnings Beat Estimates, Revenues Miss
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-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.
Biggest Tech Breakthrough in a Generation
Be among the early investors in the new type of device that experts say could impact society as much as the discovery of electricity. Current technology will soon be outdated and replaced by these new devices. In the process, it’s expected to create 22 million jobs and generate $12.3 trillion in activity.
A select few stocks could skyrocket the most as rollout accelerates for this new tech. Early investors could see gains similar to buying Microsoft in the 1990s. Zacks’ just-released special report reveals 7 stocks to watch. The report is only available for a limited time.
See 7 breakthrough stocks now>>