AGENUS INC Reports Second Quarter Earnings Results for FY2023
August 14, 2023
🌥️Earnings Overview
On August 8th 2023, AGENUS INC ($NASDAQ:AGEN) released their financial results for the second quarter of FY2023, which ended June 30th 2023. The company saw a 20.9% year-over-year increase in total revenue, recording USD 25.3 million. Unfortunately, their net income was reported to be USD -73.4 million, an increase from the prior year’s figure of -46.4 million.
Stock Price
The stock opened at $1.4 but closed at $1.2, representing a drop of 8.1% from the previous closing price of $1.4. The decline was due to a reduction in the company’s earnings and revenue numbers for the quarter. AGENUS INC’s stock has been volatile over the past few months. Despite the second quarter results, investors remain optimistic about the company’s future prospects as it continues to invest heavily in research and development activities.
The company is working on several new therapeutics and vaccines that could potentially drive its future growth. In the meantime, AGENUS INC will continue to focus on cost-cutting measures to help improve profitability and strengthen its balance sheet. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Agenus Inc. More…
| Total Revenues | Net Income | Net Margin |
| 99.36 | -262.8 | -262.6% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Agenus Inc. More…
| Operations | Investing | Financing |
| -198.1 | -32.99 | 146.51 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Agenus Inc. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 383.59 | 460.35 | -0.27 |
Key Ratios Snapshot
Some of the financial key ratios for Agenus Inc are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 1.0% | – | -208.4% |
| FCF Margin | ROE | ROA |
| -236.0% | 170.6% | -33.7% |
Analysis
At GoodWhale, we have conducted a thorough analysis of AGENUS INC’s financials. We have determined that this is a medium risk investment in terms of financial and business aspects. We have detected four risk warnings from AGENUS INC’s income sheet, balance sheet, cashflow statement, and financial journal. If you’d like more information about the risks associated with this investment, you’ll need to become a registered user on our website. With our cutting edge risk analysis tools, you can trust that your investments are safe. More…
Peers
The company’s product candidates include teplizumab, AGEN1884, and zalifrelimab. Agenus Inc. has a strategic collaboration agreement with Merck Sharp & Dohme Corp. to develop and commercialize teplizumab and AGEN1884.
– Minerva Neurosciences Inc ($NASDAQ:NERV)
Minerva Neurosciences Inc. is a clinical-stage biopharmaceutical company, which focuses on the development and commercialization of a portfolio of first-in-class drugs to treat patients with central nervous system disorders. The company’s product candidates include MIN-101, MIN-117, MIN-202, and MIN-301. Minerva Neurosciences was founded by Remy Luthringer, Yvonne Luthringer, and Richard J. Wurtman on May 12, 2011 and is headquartered in Waltham, MA.
– AlloVir Inc ($NASDAQ:ALVR)
AlloVir Inc is a clinical stage biotechnology company that focuses on the development and commercialization of allogeneic, off-the-shelf T cell therapies for the treatment of viral infections and cancer. The company’s lead product candidate, ALVR106, is an allogeneic T cell therapy targeting cytomegalovirus infection. AlloVir has completed a Phase 1 clinical trial of ALVR106 in patients with CMV infection post-transplant and is currently enrolling patients in a Phase 2 clinical trial. The company has also initiated a Phase 1/2 clinical trial of ALVR106 in CMV-infected individuals with AIDS. AlloVir’s second product candidate, ALVR107, is an allogeneic T cell therapy targeting adenovirus infection. AlloVir is currently enrolling patients in a Phase 1 clinical trial of ALVR107 in patients with severe or life-threatening adenovirus infection.
– NeuroBo Pharmaceuticals Inc ($NASDAQ:NRBO)
NeuroBo Pharmaceuticals Inc is a clinical-stage biopharmaceutical company. It is engaged in the discovery and development of novel therapeutics for the treatment of neurodegenerative diseases and other CNS disorders. The company’s lead product candidate is NB-01, which is in Phase 2 clinical trials for the treatment of Alzheimer’s disease. NeuroBo Pharmaceuticals Inc has a market cap of 1.11M as of 2022, a Return on Equity of -85.11%. The company’s market cap is relatively small, and its ROE is negative, indicating that it is not a very profitable company. However, its main product candidate, NB-01, is in Phase 2 clinical trials, which could potentially lead to significant revenue growth in the future.
Summary
AGENUS INC recently reported their fiscal second quarter earnings for 2023, which showed a 20.9% increase in total revenue to $25.3 million and a net income of -$73.4 million compared to the prior year’s figure of -$46.4 million. Despite the year-over-year growth in revenue, investors responded to the negative net income result by pushing the stock price down on the day. As such, investors should take a careful approach when considering AGENUS INC as a potential investment opportunity, being mindful of the risks associated with increasing losses and volatile stock prices.
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