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Agenus (AGEN)
NASDAQ:AGEN
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Agenus
(NASDAQ:AGEN)
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Rating:39Underperform
Price Target:
$4.50
▼(-2.17% Downside)
Agenus's overall stock score is primarily impacted by its challenging financial performance, marked by negative profitability and cash flow issues. Technical analysis suggests mixed signals with some long-term support but short-term bearish momentum. The valuation is weak due to negative earnings and lack of dividend yield, further weighing down the score.
Positive Factors
Strategic Partnerships
Strategic partnerships with major pharmaceutical companies provide Agenus with financial stability and access to resources, enhancing its ability to develop therapies and potentially leading to future revenue streams from milestone payments and royalties.
Product Portfolio Diversity
A diverse product portfolio allows Agenus to address multiple cancer types and reduces reliance on any single therapy, potentially increasing its market reach and resilience against specific product failures.
Improving Gross Profit Margin
Improvement in gross profit margin indicates better cost management and operational efficiency, which could lead to enhanced profitability as the company scales its operations and commercializes its therapies.
Negative Factors
Negative Equity
Negative equity suggests that liabilities exceed assets, posing a risk to financial stability and limiting the company's ability to raise capital, which could impact its long-term growth and operational capabilities.
Cash Flow Issues
Persistent negative cash flows indicate that Agenus may struggle to fund its operations and invest in R&D without external financing, potentially hindering its ability to bring products to market and achieve profitability.
Profitability Challenges
Continued profitability challenges highlight operational inefficiencies and the need for strategic restructuring to achieve sustainable growth, which could affect investor confidence and long-term financial health.
Agenus (AGEN) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$139.56M
Dividend YieldN/A
Average Volume (3M)462.88K
Price to Earnings (P/E)―
Beta (1Y)3.24
Revenue Growth-36.29%
EPS Growth36.16%
CountryUS
Employees316
SectorHealthcare
Sector Strength45
IndustryBiotechnology
Share Statistics
EPS (TTM)-1.00
Shares Outstanding31,864,107
10 Day Avg. Volume470,401
30 Day Avg. Volume462,877
Financial Highlights & Ratios
PEG RatioN/A
Price to Book (P/B)N/A
Price to Sales (P/S)N/A
P/FCF RatioN/A
Enterprise Value/Market Cap3.87
Enterprise Value/Revenue5.31
Enterprise Value/Gross Profit-1.12K
Enterprise Value/Ebitda-6.94
Forecast
1Y Price Target
$15.50Price Target Upside236.96% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
Agenus Business Overview & Revenue Model
Company DescriptionAgenus Inc., a clinical-stage immuno-oncology company, discovers and develops immuno-oncology products in the United States and internationally. The company offers Retrocyte Display, an antibody expression platform for the identification of fully human and humanized monoclonal antibodies; and display technologies. It develops vaccine programs comprising Prophage vaccine candidate; and QS-21 Stimulon adjuvant, a saponin-based vaccine adjuvant. The company also develops Balstilimab, an anti-PD-1 antagonist that has completed Phase II clinical trial to treat second line cervical cancer; AGEN1181, an anti-CTLA-4 monospecific antibody that is in Phase 1/2 clinical trial; AGEN2373, an anti-CD137 monospecific antibody that is in Phase 1 clinical trial; AGEN1423, a tumor microenvironment conditioning anti-CD73/TGFß TRAP bi-functional antibody that has completed Phase 1 clinical trial; AGEN1777, an anti-TIGIT bispecific antibodies; and AGEN1327, a human monoclonal antibody. In addition, the company develops INCAGN1876, an anti-GITR monospecific antibody; INCAGN1949, an anti-OX40 monospecific antibody; INCAGN2390, an anti-TIM-3 monospecific antibody; INCAGN2385, an anti-LAG-3 monospecific antibody; MK-4830, a monospecific antibody targeting ILT4; AGENT 797, an iNKT cells that is in Phase 1 clinical trial for solid tumors, multiple myeloma, and viral ARDS, as well as in clinical stage to treat hematological malignancies and multiple myeloma/B cells; and AGEN1884, a first-generation anti-CTLA-4 monospecific antibody. Agenus Inc. operates under ASV, Agenus, AutoSynVax, EVAMPLIX, MiNK, PSV, PhosPhoSynVax, Prophage, Retrocyte Display, and Stimulon trademarks. It has collaborations with Incyte Corporation, Merck Sharpe & Dohme, Recepta Biopharma SA, and Gilead Sciences, Inc. The company was formerly known as Antigenics Inc. and changed its name to Agenus Inc. in January 2011. Agenus Inc. was founded in 1994 and is headquartered in Lexington, Massachusetts.
How the Company Makes MoneyAgenus generates revenue through a combination of product sales, partnerships, and collaborations. The company earns money primarily from licensing agreements and collaborations with larger pharmaceutical companies, which pay upfront fees, milestone payments, and royalties on sales of products developed through these partnerships. Additionally, Agenus may receive revenue from its own product sales once therapies are approved and commercialized. The company’s strategic collaborations with major industry players enhance its financial stability and provide access to resources and expertise for the development of its therapies.
Agenus Earnings Call Summary
Earnings Call Date:Aug 11, 2025
(Q1-2025)
| % Change Since: |
Next Earnings Date:Nov 11, 2025
Earnings Call Sentiment Neutral
The earnings call highlighted several positive developments, including strategic hires, promising BOT/BAL data, and multiple capital proposals which could strengthen the company's financial position. However, financial metrics such as a decreased cash balance and lower revenue compared to the previous year, alongside ongoing regulatory challenges, present notable challenges. The overall sentiment is cautiously optimistic as the highlights and lowlights are balanced.Q1-2025 Updates
Positive Updates
Operational Efficiency Goals
Agenus is on track to reduce its operational cash burn to below $50 million annualized in the second half of 2025.
New Leadership and Strategic Hire
Dr. Richard Goldberg, a GI-Oncology expert, joined as Chief Development Officer to advance regulatory filings in metastatic colorectal cancer and other tumor types.
Promising BOT/BAL Data
New BOT/BAL data shows durable responses in cold tumors, including MSS colorectal cancer, with deep and durable disease control demonstrated in heavily pre-treated liver cancer patients.
Strategic Capital Proposals
Agenus received four formal transaction proposals, including the sale of the Emeryville facility, a significant equity investment at a premium, and two licensing deals for BOT/BAL.
Regulatory Environment Shift
Changes in FDA policies may favor rapid approval of transformative therapies, aligning with Agenus' goals for BOT/BAL's accelerated approval.
Negative Updates
Decrease in Cash Balance
The company ended Q1 2025 with a cash balance of $18.5 million, down from $40.4 million at the end of 2024.
Revenue and Net Loss
Revenue for Q1 2025 was $24.1 million, a decrease from $28 million in Q1 2024. The net loss for Q1 2025 was $26.4 million, or $1.03 per share, which is an improvement from a net loss of $63.5 million, or $3.04 per share, in Q1 2024.
Regulatory Challenges
Previous FDA feedback suggested that the BOT/BAL study might not be adequate for approval due to modest response rates, necessitating further data presentation and regulatory discussions.
Company Guidance
During Agenus Inc.'s First Quarter 2025 Earnings Conference Call, the company outlined several strategic priorities, focusing on their innovative BOT/BAL data, operational efficiencies, and impending transactions to enhance financial strength. They aim to reduce operational cash burn to below $50 million annually by the second half of 2025. The company's financials for the first quarter showcased a cash balance of $18.5 million, a reduction from $40.4 million at the end of 2024, with a net loss of $26.4 million or $1.03 per share. Revenue was reported at $24.1 million, primarily from non-cash royalty revenue. Agenus has received four transaction proposals, including a potential Emeryville facility sale and two BOT/BAL licensing deals, aimed to bolster their balance sheet. The call emphasized the wide-reaching potential of BOT/BAL in treating cold tumors, with promising data from recent studies, and discussed the evolving regulatory landscape that could expedite therapy approvals.Agenus Financial Statement Overview
Summary
Agenus is facing significant financial challenges across all verticals. Despite slight revenue growth, the company struggles with profitability and cash flow management. The balance sheet reflects financial instability with negative equity, and cash flow issues persist, indicating a need for strategic financial restructuring.Income Statement
Agenus has shown a slight revenue growth in the TTM period, but the company continues to face significant profitability challenges. The gross profit margin has improved from negative to positive, yet the net profit margin remains deeply negative, indicating ongoing losses. The EBIT and EBITDA margins are also negative, reflecting operational inefficiencies.35
Negative
Balance Sheet
The balance sheet reveals a concerning financial structure with negative stockholders' equity, indicating liabilities exceed assets. The debt-to-equity ratio is negative due to negative equity, and while the return on equity appears positive, it is misleading due to the negative equity base. The equity ratio is also negative, highlighting financial instability.25
Negative
Cash Flow
Cash flow analysis shows negative operating and free cash flows, with a declining trend in free cash flow growth. The operating cash flow to net income ratio is negative, indicating cash outflows exceed income. The free cash flow to net income ratio is close to 1, suggesting cash flow issues are closely tied to net losses.30
Negative
| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 101.71M | 103.46M | 156.31M | 98.02M | 295.67M | 88.17M |
| Gross Profit | -481.00K | -52.55M | -81.37M | -99.23M | 113.59M | -56.80M |
| EBITDA | -77.86M | -101.30M | -145.92M | -161.85M | 43.78M | -114.63M |
| Net Income | -165.52M | -227.21M | -245.76M | -220.07M | -23.93M | -180.91M |
Balance Sheet | ||||||
| Total Assets | 185.22M | 226.27M | 313.91M | 413.56M | 465.96M | 214.51M |
| Cash, Cash Equivalents and Short-Term Investments | 9.53M | 40.44M | 76.11M | 193.36M | 306.92M | 99.87M |
| Total Debt | 402.76M | 94.87M | 88.47M | 78.43M | 58.29M | 55.73M |
| Total Liabilities | 521.53M | 532.70M | 462.30M | 468.46M | 418.05M | 426.01M |
| Stockholders Equity | -354.60M | -326.38M | -160.33M | -61.28M | 34.44M | -203.67M |
Cash Flow | ||||||
| Free Cash Flow | -127.36M | -158.89M | -234.16M | -228.44M | -23.67M | -142.56M |
| Operating Cash Flow | -127.78M | -158.31M | -224.20M | -175.37M | 10.14M | -139.10M |
| Investing Cash Flow | 373.00K | 27.00K | 3.40M | -33.61M | -43.15M | -4.44M |
| Financing Cash Flow | 43.46M | 122.84M | 119.87M | 95.83M | 225.26M | 183.85M |
Agenus Technical Analysis
Positive
4.60
Price Trends
5.03
Negative
4.69
Negative
3.72
Positive
Market Momentum
-0.08
Negative
49.81
Neutral
26.47
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AGEN, the sentiment is Positive. The current price of 4.6 is above the 20-day moving average (MA) of 4.47, below the 50-day MA of 5.03, and above the 200-day MA of 3.72, indicating a neutral trend. The MACD of -0.08 indicates Negative momentum. The RSI at 49.81 is Neutral, neither overbought nor oversold. The STOCH value of 26.47 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for AGEN.
Agenus Risk Analysis
Agenus disclosed 86 risk factors in its most recent earnings report. Agenus reported the most risks in the "Tech & Innovation" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Agenus Peers Comparison
Overall Rating
UnderperformOutperform
Sector (51)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
54 Neutral | 119.02M | -3.50 | -202.30% | ― | -28.23% | 93.42% | |
39 Underperform | $139.56M | ― | 260.68% | ― | -36.29% | 36.16% | |
38 Underperform | 10.37M | -0.02 | 0.00% | 3.24% | -87.50% | 92.82% | |
38 Underperform | 43.00M | -0.89 | 0.00% | ― | 0.00% | 86.28% | |
31 Underperform | 87.02M | -1.48 | 0.00% | ― | 0.00% | 13.49% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% |
* Healthcare Sector Average
Performance Comparison
AGEN
Agenus
4.60
-0.57
-11.03%
BGMS
Bio Green Med Solution
4.63
-242.57
-98.13%
FBIO
Fortress Biotech
4.00
2.61
187.77%
OTLK
Outlook Therapeutics
0.97
-4.61
-82.62%
QNCX
Quince Therapeutics
1.62
0.86
113.16%
IMMX
Immix Biopharma
2.24
0.60
36.59%
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.