Yahoo Finance Agenus (AGEN) Q3 Earnings Beat Estimates, Revenues Up Y/Y
Agenus Inc. AGEN 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 and being developed by them.
GlaxoSmithKline plc’s GSK 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. ACOR, 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 >>
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
GlaxoSmithKline plc (GSK) : Free Stock Analysis Report
Acorda Therapeutics, Inc. (ACOR) : Free Stock Analysis Report
Agenus Inc. (AGEN) : Free Stock Analysis Report
Gilead Sciences, Inc. (GILD) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
