Agenus (AGEN) Reports Q2 Loss, Lags Revenue Estimates

Company Performance - Agenus reported a quarterly loss of $2.52 per share, significantly worse than the Zacks Consensus Estimate of a loss of $1.33, and an improvement from a loss of $4 per share a year ago, indicating a surprise of -89.47% [1] - The company posted revenues of $23.51 million for the quarter ended June 2024, missing the Zacks Consensus Estimate by 63.68%, and down from $25.3 million in the same quarter last year [1] - Over the last four quarters, Agenus has surpassed consensus EPS estimates two times and topped consensus revenue estimates just once [1] Stock Performance - Since the beginning of the year, Agenus shares have lost approximately 69.3%, contrasting with the S&P 500's gain of 9% [2] - The current consensus EPS estimate for the upcoming quarter is -$2.92 on revenues of $33.48 million, and for the current fiscal year, it is -$10.73 on revenues of $190.34 million [4] Industry Outlook - The Medical - Biomedical and Genetics industry, to which Agenus belongs, is currently ranked in the top 37% of over 250 Zacks industries, suggesting a favorable outlook compared to lower-ranked industries [5] - Another company in the same industry, Urogen Pharma, is expected to report a quarterly loss of $0.82 per share, reflecting a year-over-year change of +20.4%, with revenues anticipated to be $23.69 million, up 12% from the previous year [5][6]