Agenus (NASDAQ:AGEN) Issues Quarterly Earnings Results

Agenus (NASDAQ:AGEN) issued its quarterly earnings results on Thursday. The biotechnology company reported $0.02 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.28) by $0.30, FiscalAI reports. Agenus had a net margin of 69.33% and a negative return on equity of 47.68%. The firm had revenue of $31.49 million for the quarter, compared to analyst estimates of $28.20 million.

Here are the key takeaways from Agenus’ conference call:

• Agenus said botensilimab (BOT) and balstilimab (BAL) are designed to activate immune responses in “cold” tumors. In early studies, the company reported activity across several cancer types, including a 21% response rate in metastatic colorectal cancer patients without active liver metastases.
• Early neoadjuvant studies in MSS colorectal cancer showed promising tumor responses: Agenus cited a 30% pathologic complete response rate in one study and said no patients treated with the combination had recurred at reported follow-up. These are early, relatively small studies and do not establish that the results will be replicated in a larger trial.
• The company plans an 850-patient Phase III trial, ROBIN, comparing BOT/BAL before surgery with standard care for high-risk stage II and stage III colon cancer. Agenus expects the regimen could improve event-free survival while reducing chemotherapy use, including exposure to oxaliplatin-related neuropathy.
• ROBIN’s key efficacy readouts remain years away: Agenus projected an interim event-free-survival analysis in the second half of 2029 and a full readout in the second half of 2030. The company’s potential additional $255 million in warrant proceeds depends on investor exercise, with the tranches tied to enrollment and interim response milestones.

Agenus Stock Down 7.7%

Shares of NASDAQ:AGEN traded down $0.54 during midday trading on Thursday, hitting $6.43. The stock had a trading volume of 1,331,161 shares, compared to its average volume of 750,980. The company has a market cap of $290.60 million, a P/E ratio of 2.49 and a beta of 1.53. Agenus has a 12 month low of $2.71 and a 12 month high of $10.31. The business’s 50-day simple moving average is $7.47 and its 200-day simple moving average is $4.99.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. B. Riley Financial restated a “buy” rating and set a $14.00 price objective (up from $8.00) on shares of Agenus in a research note on Thursday, July 30th. Wall Street Zen downgraded Agenus from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 17th. Rodman & Renshaw assumed coverage on Agenus in a report on Monday, September 28th. They set a “buy” rating and a $19.00 target price on the stock. Chardan Capital reiterated a “buy” rating on shares of Agenus in a report on Thursday, October 22nd. Finally, HC Wainwright reissued a “buy” rating and set a $25.00 price target (down from $30.00) on shares of Agenus in a research report on Tuesday, August 11th. Four equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Agenus presently has a consensus rating of “Moderate Buy” and a consensus target price of $24.50.

Agenus Company Profile

Agenus Inc is a biotechnology company focused on developing immunotherapies for the treatment of cancer. The company’s research programs are designed to activate and strengthen the immune system’s ability to recognize and attack tumors, with a focus on therapies that may be used across multiple cancer types.

Agenus develops a range of therapeutic approaches, including immune checkpoint inhibitors, cancer vaccines, bispecific antibodies and other antibody-based treatments. Its pipeline has included investigational therapies targeting immune-regulating pathways, as well as combination regimens intended to improve treatment responses and address resistance to existing cancer therapies.

The company was founded in 1994 as Antigenics and adopted the Agenus name in 2011.