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Agenus (AGEN) Reports Narrower-than-Expected Loss in Q4
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Agenus Inc. (AGEN - Free Report) reported fourth-quarter 2016 loss of 30 cents per share (including non-cash expenses), narrower than the Zacks Consensus Estimate of a loss of 33 cents but wider than the year-ago loss of 18 cents.
Moreover, revenues declined 27% year over year to $5.5 million, slightly below the Zacks Consensus Estimate of $6 million.
Agenus' fourth-quarter research and development (R&D) expenses were up 44.8% to $25.9 million. Likewise, general and administrative expenses increased 2.5% to $8.7 million. The rise in net loss year over year was mainly due to the expansion and growth of the research activities at the company.
Pipeline Update
Agenus is progressing well with the candidates in its pipeline. Currently, the company is evaluating AGEN1884 in a phase I study. The company is also evaluatingINCAGN01876 in a phase I study for the treatment of solid tumors. The company has initiated phase I study for OX40 agonist INCAGN1949 in collaboration with Incyte.
GlaxoSmithKline (GSK - Free Report) filed for regulatory approval of Shingrix vaccine which contains Agenus' QS-21 Stimulon.
The company plans to initiate studies on anti-PD-1 antagonist AGEN2034 in the first half of 2017. Agenus also expects to begin combination studies on AGEN2034 and AGEN1884 in the second half of the year. The company expects to start phase I trial for AutoSynVax in the year’s first half. It also expects to start cervical cancer trial for PD-1 monotherapy in the second half.
Earlier in 2016, Agenus amended its collaboration with Incyte Corporation (INCY - Free Report) , resulting in $80 million of cash to the former which included $60 million from an equity investment at $6 per share and $20 million in accelerated clinical development milestones for the GITR and OX40 programs.
The company also entered into a research collaboration with UCB to advance the development of multi-specific therapeutic antibodies.
2016 Update
For full-year 2016, loss was $1.46 per share compared with loss of $1.13 in 2015. The figure was narrower than the Zacks Consensus Estimate of loss of $1.49.
In 2016, revenues came in at $22.6 million, down 9% year over year. Revenues also missed the Zacks Consensus Estimate of $23.01 million.
Agenus currently carries a Zacks Rank #3 (Hold). A better-ranked stock in the health care sector is Heska Corporation , which sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here
Heska’s earnings estimates increased from $1.53 to $1.65 for 2017 and from $1.90 to $2.01 for 2018, over the last 30 days. The company posted positive earnings surprises in all of the four trailing quarters with an average beat of 291.54%.
More Stock News: 8 Companies Verge on Apple-Like Run
Did you miss Apple's 9X stock explosion after they launched their iPhone in 2007? Now 2017 looks to be a pivotal year to get in on another emerging technology expected to rock the market. Demand could soar from almost nothing to $42 billion by 2025. Reports suggest it could save 10 million lives per decade which could in turn save $200 billion in U.S. healthcare costs. A bonus Zacks Special Report names this breakthrough and the 8 best stocks to exploit it. Like Apple in 2007, these companies are already strong and coiling for potential mega-gains. Click to see them right now >>
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Agenus (AGEN) Reports Narrower-than-Expected Loss in Q4
Agenus Inc. (AGEN - Free Report) reported fourth-quarter 2016 loss of 30 cents per share (including non-cash expenses), narrower than the Zacks Consensus Estimate of a loss of 33 cents but wider than the year-ago loss of 18 cents.
Moreover, revenues declined 27% year over year to $5.5 million, slightly below the Zacks Consensus Estimate of $6 million.
Agenus’ share price decreased 1.7% year to date while the Zacks classified Medical - Biomedical and Genetics industry gained 6.2%.
Quarterly Highlights
Agenus' fourth-quarter research and development (R&D) expenses were up 44.8% to $25.9 million. Likewise, general and administrative expenses increased 2.5% to $8.7 million. The rise in net loss year over year was mainly due to the expansion and growth of the research activities at the company.
Pipeline Update
Agenus is progressing well with the candidates in its pipeline. Currently, the company is evaluating AGEN1884 in a phase I study. The company is also evaluatingINCAGN01876 in a phase I study for the treatment of solid tumors. The company has initiated phase I study for OX40 agonist INCAGN1949 in collaboration with Incyte.
GlaxoSmithKline (GSK - Free Report) filed for regulatory approval of Shingrix vaccine which contains Agenus' QS-21 Stimulon.
The company plans to initiate studies on anti-PD-1 antagonist AGEN2034 in the first half of 2017. Agenus also expects to begin combination studies on AGEN2034 and AGEN1884 in the second half of the year. The company expects to start phase I trial for AutoSynVax in the year’s first half. It also expects to start cervical cancer trial for PD-1 monotherapy in the second half.
Earlier in 2016, Agenus amended its collaboration with Incyte Corporation (INCY - Free Report) , resulting in $80 million of cash to the former which included $60 million from an equity investment at $6 per share and $20 million in accelerated clinical development milestones for the GITR and OX40 programs.
The company also entered into a research collaboration with UCB to advance the development of multi-specific therapeutic antibodies.
2016 Update
For full-year 2016, loss was $1.46 per share compared with loss of $1.13 in 2015. The figure was narrower than the Zacks Consensus Estimate of loss of $1.49.
In 2016, revenues came in at $22.6 million, down 9% year over year. Revenues also missed the Zacks Consensus Estimate of $23.01 million.
Agenus Inc. Price, Consensus and EPS Surprise
Agenus Inc. Price, Consensus and EPS Surprise | Agenus Inc. Quote
Zacks Rank & Stocks to Consider
Agenus currently carries a Zacks Rank #3 (Hold). A better-ranked stock in the health care sector is Heska Corporation , which sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here
Heska’s earnings estimates increased from $1.53 to $1.65 for 2017 and from $1.90 to $2.01 for 2018, over the last 30 days. The company posted positive earnings surprises in all of the four trailing quarters with an average beat of 291.54%.
More Stock News: 8 Companies Verge on Apple-Like Run
Did you miss Apple's 9X stock explosion after they launched their iPhone in 2007? Now 2017 looks to be a pivotal year to get in on another emerging technology expected to rock the market. Demand could soar from almost nothing to $42 billion by 2025. Reports suggest it could save 10 million lives per decade which could in turn save $200 billion in U.S. healthcare costs. A bonus Zacks Special Report names this breakthrough and the 8 best stocks to exploit it. Like Apple in 2007, these companies are already strong and coiling for potential mega-gains. Click to see them right now >>