Agenus (NASDAQ:AGEN) Posts Quarterly Earnings Results, Beats Estimates By $0.30 EPS

Key Points

• Agenus reported quarterly EPS of $0.02, beating analyst estimates of a $0.28 loss by $0.30; revenue of $31.49 million also exceeded expectations of $28.20 million.
• The company highlighted early results for its BOT/BAL immunotherapy combination, including a 21% response rate in metastatic colorectal cancer patients without active liver metastases and promising responses in small neoadjuvant studies. The findings are preliminary and may not be replicated in larger trials.
• Agenus plans an 850-patient Phase III trial, ROBIN, but expects its interim efficacy analysis in the second half of 2029 and full results in the second half of 2030.

Agenus (NASDAQ:AGEN - Get Free Report) announced its quarterly earnings data on Thursday. The biotechnology company reported $0.02 EPS for the quarter, topping analysts' consensus estimates of ($0.28) by $0.30, FiscalAI reports. Agenus had a negative return on equity of 47.68% and a net margin of 69.33%. The business had revenue of $31.49 million during the quarter, compared to analysts' expectations 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 Performance

NASDAQ AGEN traded down $0.54 during 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 capitalization of $290.60 million, a PE ratio of 2.49 and a beta of 1.53. The company's 50-day moving average price is $7.47 and its two-hundred day moving average price is $4.99. Agenus has a 12 month low of $2.71 and a 12 month high of $10.31.

Analyst Ratings Changes

A number of research firms recently commented on AGEN. Rodman & Renshaw assumed coverage on shares of Agenus in a research report on Monday, September 28th. They issued a "buy" rating and a $19.00 price objective for the company. Chardan Capital reissued a "buy" rating on shares of Agenus in a research report on Thursday, October 22nd. Weiss Ratings upgraded shares of Agenus from a "sell (d)" rating to a "sell (d+)" rating in a report on Thursday, October 8th. B. Riley Financial reaffirmed a "buy" rating and issued a $14.00 price objective (up from $8.00) on shares of Agenus in a research report on Thursday, July 30th. Finally, HC Wainwright reaffirmed a "buy" rating and issued a $25.00 target price (down from $30.00) on shares of Agenus in a research note on Tuesday, August 11th. Four investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $24.50.

About Agenus

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.

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