Core Viewpoint - Agenus (AGEN) has experienced a significant decline of 41.1% over the past four weeks, but it is now positioned for a potential trend reversal as it is in oversold territory, supported by analysts predicting better earnings than previously expected [1]. Group 1: Stock Performance and Indicators - AGEN shares have been under heavy selling pressure, with an RSI reading of 17.89 indicating that the stock is oversold and may soon experience a trend reversal [3]. - The Relative Strength Index (RSI) is a key technical indicator used to identify oversold stocks, with a reading below 30 typically signaling oversold conditions [2]. Group 2: Earnings Estimates and Analyst Consensus - Over the last 30 days, the consensus EPS estimate for AGEN has increased by 38.9%, indicating strong agreement among analysts regarding improved earnings for the current year [4]. - AGEN holds a Zacks Rank 2 (Buy), placing it in the top 20% of over 4,000 ranked stocks based on earnings estimate revisions and EPS surprises, suggesting a favorable outlook for the stock [4].

Group 1 - Agenus (AGEN) has experienced a significant downtrend, with a stock decline of 39.4% over the past four weeks due to excessive selling pressure [1] - The stock is currently in oversold territory, indicated by an RSI reading of 17.56, suggesting a potential reversal in trend [3] - Wall Street analysts have raised earnings estimates for Agenus, with a 38.9% increase in the consensus EPS estimate over the last 30 days, indicating a positive outlook for the company's earnings [4] Group 2 - The Zacks Rank for Agenus is 2 (Buy), placing it in the top 20% of over 4,000 ranked stocks based on earnings estimate revisions and EPS surprises, further supporting the potential for a turnaround [4]

Financial Performance - Research and development revenue for Q3 2024 was $0, down from approximately $3.4 million in Q3 2023, primarily due to the absence of deferred revenue recognition from Gilead Collaboration Agreements[101]. - Non-cash royalty revenue from GSK increased by $4.3 million to approximately $24.7 million in Q3 2024, compared to $20.4 million in Q3 2023, driven by increased net sales of GSK's vaccines[101]. - Research and development expenses decreased by 20% to $41.1 million in Q3 2024 from $51.4 million in Q3 2023, attributed to reductions in third-party services, personnel-related expenses, and subsidiary activities[102]. - General and administrative expenses decreased by 9% to $17.3 million in Q3 2024 from $18.9 million in Q3 2023, mainly due to lower personnel costs and professional fees[103]. - For the nine months ended September 30, 2024, research and development revenue was approximately $0.3 million, down from $8.5 million in the same period of 2023[104]. - Non-cash royalty revenue for the nine months ended September 30, 2024 increased by $13.5 million to approximately $75.0 million, compared to $61.5 million in the same period of 2023[104]. - Research and development expenses for the nine months ended September 30, 2024 decreased by 27% to $121.8 million from $167.8 million in the same period of 2023[105]. - General and administrative expenses for the nine months ended September 30, 2024 decreased by 11% to $50.9 million from $57.6 million in the same period of 2023[106]. - The company had an accumulated deficit of $2.1 billion as of September 30, 2024, and expects to incur significant losses over the next several years[111]. - Net cash used in operating activities for the nine months ended September 30, 2024, was $129.7 million, compared to $183.8 million for the same period in 2023[121]. Stock and Financing - The company sold 1,763,025 shares of common stock, generating net proceeds of approximately $7.1 million between October 1, 2024, and November 8, 2024[78]. - The company received a non-refundable upfront cash payment of $200.0 million from Bristol-Myers Squibb for the exclusive worldwide license of AGEN1777[92]. - The company is eligible to receive up to $315.0 million in potential milestone payments plus royalties from Incyte under their collaboration agreement[87]. - The company is eligible to receive up to approximately $136.3 million, $49.4 million, and $183.1 million in potential development, regulatory, and commercial milestones from UroGen, Merck, and Incyte, respectively[94]. - The company received milestone payments of $15.1 million and $25.25 million based on GSK's vaccine sales reaching $2.0 billion and $2.75 billion, respectively[98]. Research and Development - The lead program, botensilimab, is progressing through multiple clinical programs, with enrollment completed for a Phase 1 trial (n~150) and a randomized Phase 2 trial (n~230) in October 2023[85]. - MiNK Therapeutics, a subsidiary, is expanding its clinical programs, including a Phase 2 trial in second-line gastric cancer and a randomized Phase 2 study for viral ARDS[100]. - The company has a robust pipeline of immunological agents targeting cancer, with a focus on combination therapies to expand patient populations benefiting from immunotherapy[81]. - The company has collaborations with several firms, including Bristol-Myers Squibb and Merck, resulting in over a dozen antibody pre-clinical or clinical development programs[86]. Cash Management and Investment Policy - Cash and cash equivalents at September 30, 2024, amounted to $44.8 million, which are exposed to interest rate changes[123]. - The company does not currently employ specific strategies to manage foreign currency exchange rate fluctuations[122]. - The investment policy prohibits investing in structured investment vehicles and asset-backed commercial paper[124]. - The company aims to preserve principal, maintain liquidity, and maximize yields through its investment policy[124]. - There has been no material change to interest rate exposure since the Annual Report for the year ended December 31, 2023[123]. - The company does not invest in derivative financial instruments, indicating no material market risk exposure from such instruments[124]. Future Outlook - Future cash generation will depend on achieving regulatory approval and market acceptance of product candidates[121]. - The company is focused on entering new collaborations to enhance cash generation capabilities[121].

Financial Data and Key Metrics Changes - Agenus ended Q3 2024 with a consolidated cash balance of $44.8 million, down from $76.1 million on December 31, 2023 [22] - Cash used in operations for the nine months ended September 2024 was $129.7 million, a reduction from $183.8 million for the same period in 2023 [22] - Revenue for the three and nine months ended September 30, 2024, was $25 million and $77 million respectively, compared to $24 million and $7 million for the same periods in 2023 [23] - Net loss for the three and nine months ended September 30, 2024, was $67 million and $186 million respectively, compared to $65 million and $290 million for the same periods in 2023 [24] Business Line Data and Key Metrics Changes - BOT/BAL is showing unprecedented results in cancers that have resisted previous therapies, particularly in MSS colorectal cancer, which accounts for over 85% of all colorectal cancer cases [6][7] - Ongoing trials in Italy and the Netherlands are expected to provide further insights with data anticipated early next year [8] Market Data and Key Metrics Changes - The financial environment has improved following the U.S. elections, which has positively impacted the value of Agenus' real estate assets [12][20] - The company is in advanced discussions on several strategic transactions aimed at delivering substantial value and resources [13][20] Company Strategy and Development Direction - The company is focused on operational discipline, asset monetization, and strategic transactions to support its mission and optimize long-term value for shareholders [20] - Agenus is actively engaged in discussions with pharmaceutical partners and regional collaborators to ensure BOT/BAL reaches its full potential [18] Management Comments on Operating Environment and Future Outlook - Management acknowledges significant financial challenges but is taking deliberate actions to reduce costs and monetize assets [10][28] - The company is committed to advancing BOT/BAL as a transformative therapy for cancer treatment, emphasizing the importance of patient outcomes [25][26] Other Important Information - The company raised an additional $7.1 million through sales of common stock since the end of Q3 2024 [22] - The company is advancing compassionate use and named patient programs globally to ensure broader access to BOT/BAL [19] Q&A Session Summary Question: Summary of Phase 3 design and next steps - Management confirmed that they have received guidance from the FDA and EMA, allowing them to proceed with the Phase 3 study once a strategic partnership is established [33] Question: Details on neoadjuvant studies - Management clarified that the neoadjuvant studies are ongoing and that data from these studies will be presented in early 2025 [36][38] Question: Data from other tumor types - Management indicated that data from Phase 2 trials in pancreatic and melanoma settings is expected in the first half of next year [43]

Agenus (AGEN) came out with a quarterly loss of $3.17 per share versus the Zacks Consensus Estimate of a loss of $2.10. This compares to loss of $3.20 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -50.95%. A quarter ago, it was expected that this biotechnology company would post a loss of $1.33 per share when it actually produced a loss of $2.52, delivering a surprise of -89.47%.Over the last four quarters, the company has s ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 Delaware 000-29089 06-1562417 (State or Other Jurisdiction of Incorporation) (Commission File Number) (IRS Employer Identification No.) Title of each class Trading Symbol(s) Name of each exchange on which registered Common Stock, $0.01 par value per share AGEN The Nasdaq Global Market FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): November ...

Investors can contact the law firm at no cost to learn more about recovering their losses LOS ANGELES, Oct. 30, 2024 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises Agenus Inc. ("Agenus" or the "Company") (NASDAQ: AGEN) investors of a class action representing investors that bought securities between January 23, 2023 and July 17, 2024, inclusive (the "Class Period"). Agenus investors have until November 5, 2024 to file a lead plaintiff motion. Investors are encouraged to contact attorney Lesley F. Portnoy, ...

NEW YORK, Oct. 29, 2024 (GLOBE NEWSWIRE) -- The Gross Law Firm issues the following notice to shareholders of Agenus Inc. (NASDAQ: AGEN). Shareholders who purchased shares of AGEN during the class period listed are encouraged to contact the firm regarding possible lead plaintiff appointment. Appointment as lead plaintiff is not required to partake in any recovery. CONTACT US HERE: https://securitiesclasslaw.com/securities/agenus-loss-submission-form/?id=109665&from=3 CLASS PERIOD: January 23, 2023 to July 1 ...

NEW YORK, Oct. 28, 2024 /PRNewswire/ -- The Gross Law Firm issues the following notice to shareholders of Agenus Inc. (NASDAQ: AGEN). Shareholders who purchased shares of AGEN during the class period listed are encouraged to contact the firm regarding possible lead plaintiff appointment. Appointment as lead plaintiff is not required to partake in any recovery. CONTACT US HERE: https://securitiesclasslaw.com/securities/agenus-loss-submission-form/?id=109390&from=4 CLASS PERIOD: January 23, 2023 to July 17, 2 ...

NEW YORK, Oct. 23, 2024 (GLOBE NEWSWIRE) -- The Gross Law Firm issues the following notice to shareholders of Agenus Inc. (NASDAQ: AGEN). Shareholders who purchased shares of AGEN during the class period listed are encouraged to contact the firm regarding possible lead plaintiff appointment. Appointment as lead plaintiff is not required to partake in any recovery. CONTACT US HERE: https://securitiesclasslaw.com/securities/agenus-loss-submission-form/?id=109172&from=3 CLASS PERIOD: January 23, 2023 to July 1 ...