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Agenus (AGEN)
NASDAQ:AGEN
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Agenus
(NASDAQ:AGEN)
44Neutral
Positive Factors
Leadership and Expertise
The company has brought on Dr. Richard Goldberg as Chief Development Officer to support regulatory efforts with the FDA and EMA, potentially strengthening their approval chances.
Regulatory Progress
Agenus plans to re-engage with the FDA on potential pathway for approval of bot/bal in metastatic microsatellite stable colorectal cancer, aiming for a quicker path to market.
Negative Factors
Financial Needs
The company will need to run a large Phase 3 trial in order to support approval of bot/bal in MSS-CRC, which creates a need for significant capital.
Regulatory Challenges
Following FDA feedback that prevented an accelerated approval pathway for BOT/BAL in late-line CRC, a strategic update from the company is awaited.
Agenus (AGEN) vs. S&P 500 (SPY)
Market Cap
$95.14M
Dividend YieldN/A
Average Volume (3M)824.06K
Price to Earnings (P/E)―
Beta (1Y)2.99
Revenue Growth-38.34%
EPS Growth31.19%
CountryUS
Employees316
SectorHealthcare
Sector Strength38
IndustryBiotechnology
Share Statistics
EPS (TTM)-1.03
Shares Outstanding27,416,850
10 Day Avg. Volume838,508
30 Day Avg. Volume824,059
Financial Highlights & Ratios
PEG Ratio-0.09
Price to Book (P/B)-0.20
Price to Sales (P/S)0.00
P/FCF Ratio-0.39
Enterprise Value/Market Cap1.22
Enterprise Value/Revenue0.20
Enterprise Value/Gross Profit4.68
Enterprise Value/Ebitda-0.29
Forecast
1Y Price Target
$6.00Price Target Upside72.41% Upside
Rating ConsensusHold
Number of Analyst Covering4
Agenus Business Overview & Revenue Model
Company DescriptionAgenus Inc. (AGEN) is a biotechnology company focused on the discovery and development of therapies that harness the body's immune system to combat cancer. The company operates in the healthcare sector, specifically in immuno-oncology, and offers a range of therapeutic antibodies, vaccines, and adjuvants designed to enhance immune response against tumors. Agenus is committed to developing innovative treatments that address unmet medical needs in oncology.
How the Company Makes MoneyAgenus makes money primarily through the development and commercialization of its immuno-oncology products. The company's revenue streams include collaboration agreements, licensing deals, and milestone payments from partnerships with other pharmaceutical and biotechnology companies. Agenus often enters into strategic alliances to co-develop and commercialize its products, receiving upfront payments and potential royalties on sales. Additionally, the company may earn revenue from the sale of proprietary adjuvants and other immune-modulatory agents. These partnerships and licensing agreements are significant contributors to Agenus' earnings, as they provide both immediate financial support and long-term revenue potential from successful product commercialization.
Agenus Financial Statement Overview
Summary
Agenus faces significant financial challenges, including declining revenues, persistent losses, and high leverage. The negative equity and cash flow issues highlight concerns about sustainability and potential insolvency risks. Strategic adjustments are necessary to improve financial health.Income Statement
Agenus shows declining revenue with a significant decrease from 2021 to 2024. The company has consistently operated at a loss, with negative net income and gross profit margins over multiple years. The EBIT and EBITDA margins also reflect operational challenges, indicating persistent profitability issues.30
Negative
Balance Sheet
The company's balance sheet reveals negative stockholders' equity indicating potential solvency concerns. The debt-to-equity ratio is not meaningful due to negative equity, and total liabilities consistently exceed total assets. This high leverage poses substantial financial risk.20
Very Negative
Cash Flow
Agenus reports negative operating and free cash flow, indicating struggles in generating cash from operations. The free cash flow has shown a negative growth trajectory, and the company relies heavily on financing activities to fund its operations, which is unsustainable long-term.25
Negative
| Breakdown | ||||
| Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|
| Income Statement | Total Revenue | |||
| 103.46M | 156.31M | 98.02M | 295.67M | 88.17M | Gross Profit |
| -52.55M | -81.37M | -99.23M | 113.59M | -56.80M | EBIT |
| -120.47M | -159.55M | -179.43M | 42.28M | -117.23M | EBITDA |
| -101.30M | -145.92M | -161.85M | 44.02M | -114.63M | Net Income Common Stockholders |
| -227.21M | -245.76M | -271.51M | -94.70M | -240.13M |
| Balance Sheet | Cash, Cash Equivalents and Short-Term Investments | |||
| 40.44M | 76.11M | 193.36M | 306.92M | 99.87M | Total Assets |
| 226.27M | 313.91M | 413.56M | 465.96M | 214.51M | Total Debt |
| 94.87M | 88.47M | 78.43M | 58.29M | 55.73M | Net Debt |
| 54.43M | 12.36M | -100.25M | -233.64M | -44.14M | Total Liabilities |
| 532.70M | 462.30M | 468.46M | 418.05M | 426.01M | Stockholders Equity |
| -326.38M | -160.33M | -61.28M | 34.44M | -203.67M |
| Cash Flow | Free Cash Flow | |||
| -158.89M | -234.16M | -228.44M | -23.67M | -142.56M | Operating Cash Flow |
| -158.31M | -224.20M | -175.37M | 10.14M | -139.10M | Investing Cash Flow |
| 27.00K | 3.40M | -33.61M | -43.15M | -4.44M | Financing Cash Flow |
| 122.84M | 119.87M | 95.83M | 225.26M | 183.85M |
Agenus Technical Analysis
Positive
3.48
Price Trends
2.24
Positive
2.74
Positive
3.63
Negative
Market Momentum
0.32
Negative
65.02
Neutral
48.95
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 3.48 is above the 20-day moving average (MA) of 2.97, above the 50-day MA of 2.24, and below the 200-day MA of 3.63, indicating a neutral trend. The MACD of 0.32 indicates Negative momentum. The RSI at 65.02 is Neutral, neither overbought nor oversold. The STOCH value of 48.95 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 85 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 (52)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
52 Neutral | $5.15B | 3.05 | -44.13% | 2.84% | 16.42% | -0.48% | |
44 Neutral | $95.14M | ― | 260.68% | ― | -38.34% | 31.19% | |
41 Neutral | $49.09M | ― | -181.84% | ― | -32.11% | 88.12% | |
38 Underperform | $51.67M | ― | -1949.77% | ― | -89.76% | 80.28% | |
38 Underperform | $56.92M | ― | <0.01% | ― | ― | -29.01% | |
31 Underperform | $38.26M | ― | -130.90% | ― | ― | -55.81% |
* Healthcare Sector Average
Performance Comparison
AGEN
Agenus
3.48
-7.38
-67.96%
CYCC
Cyclacel Pharmaceuticals
2.00
-34.64
-94.54%
FBIO
Fortress Biotech
1.78
-0.15
-7.77%
OTLK
Outlook Therapeutics
1.75
-6.03
-77.51%
QNCX
Quince Therapeutics
0.85
-0.05
-5.56%
Agenus Earnings Call Summary
Earnings Call Date:May 12, 2025
(Q1-2025)
| % Change Since: 19.59%|
Next Earnings Date:Aug 07, 2025
Earnings Call Sentiment Neutral
The earnings call presented significant advancements in leadership, operational efficiency, and promising clinical data for BOT/BAL, despite ongoing financial losses and cash balance concerns. The strategic transactions and new data provide optimism for future growth and regulatory success. However, past regulatory challenges and financial constraints remain points of concern.Q1-2025 Updates
Positive Updates
New Leadership and Strategic Hire
Dr. Richard Goldberg, a world-renowned GI-Oncology expert, has joined as the Chief Development Officer to steer regulatory paths for new therapies.
Operational Efficiency and Financial Strategy
Operational cash burn is on track to be cut below $50 million annualized in the second half of 2025. Four formal transaction proposals received, including a significant equity investment at a premium and licensing deals to strengthen the balance sheet.
Positive BOT/BAL Study Results
Consistent and compelling data across different lines of treatment in multiple cold tumors, with presentations at AACR 2025 showing durable responses.
Increased Phase 1 and Phase 2 Follow-Up
Phase 1 trial median follow-up is now 18 months with 123 patients, and Phase 2 trial median follow-up is over 12 months, with substantial data maturity.
Negative Updates
Continued Net Loss
Net loss of $26.4 million or $1.03 per share for Q1 2025, although improved from a loss of $63.5 million in Q1 2024.
Cash Balance Decline
The consolidated cash balance decreased to $18.5 million from $40.4 million at the end of 2024.
Regulatory Uncertainty
Past negative FDA response due to an erroneous judgment based on a publication, which may impact future approvals.
Company Guidance
During Agenus Inc.'s First Quarter 2025 Earnings Conference Call, the company outlined several key priorities and metrics. They discussed the latest BOT/BAL data showcasing durable responses in cold tumors, emphasized operational efficiencies aimed at reducing operational cash burn to below $50 million annually by the second half of 2025, and mentioned four formal transaction proposals received, including an Emeryville facility sale and two BOT/BAL licensing deals. The company ended Q1 2025 with a cash balance of $18.5 million, down from $40.4 million at the end of 2024, with cash used in operations reduced to $25.6 million from $38.2 million year-over-year. Agenus recognized Q1 2025 revenue of $24.1 million and reported a net loss of $26.4 million, compared to Q1 2024's revenue of $28 million and net loss of $63.5 million. The company is focused on regulatory interactions, having requested a Type B meeting with the FDA, and is optimistic about the potentially favorable new FDA policies that could expedite approval of their therapies.Agenus Corporate Events
Business Operations and Strategy
Agenus Regains Rights to LAG-3 and TIM-3 Programs
Neutral
Feb 10, 2025
Agenus Inc. and Incyte Corporation entered a License, Development, and Commercialization Agreement in 2015, which allowed Incyte exclusive rights to certain immuno-oncology programs. However, by February 2025, Incyte decided to terminate the agreement as part of its strategic portfolio reprioritization, effective February 2026, returning the rights of LAG-3 and TIM-3 programs back to Agenus. This decision provides Agenus the opportunity to regain full control over these assets and explore future developments and partnerships, potentially impacting its strategic positioning in the immuno-oncology market.
Glossary
OutperformA stock rated as "Outperform" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock is likely to deliver higher returns compared to the average returns of other stocks in the same sector or market index. Investors might consider this stock a good buying opportunity.
NeutralA stock rated as "Neutral" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly attractive nor unattractive for investment. Investors may consider holding onto the stock, as it is not expected to either significantly outperform or underperform the market.
UnderperformA stock rated as "Underperform" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock may deliver lower returns compared to the average returns of other stocks in the same sector or market index. Investors might consider selling the stock or avoiding it as an investment.
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.