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AGEN Agenus

Agenus is a clinical-stage immuno-oncology company focused on the discovery and development of therapies that engage the body's immune system to fight cancer. The Company's vision is to expand the patient populations benefiting from cancer immunotherapy by pursuing combination approaches that leverage a broad repertoire of antibody therapeutics, adoptive cell therapies (through its AgenTus Therapeutics subsidiary), and proprietary cancer vaccine platforms. The Company is equipped with a suite of antibody discovery platforms and a state-of-the-art GMP manufacturing facility with the capacity to support clinical programs. Agenus is headquartered in Lexington, MA.

AGEN stock data

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Investment data

Data from SEC filings
Securities sold
Number of investors

Calendar

8 Nov 21
2 Dec 21
31 Dec 21
Quarter (USD)
Sep 21 Jun 21 Mar 21 Dec 20
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD)
Dec 20 Dec 19 Dec 18 Dec 17
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Financial data from Agenus earnings reports.

Cash burn rate (estimated) Burn method: Change in cash Burn method: Operating income/loss Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 259.23M 259.23M 259.23M 259.23M 259.23M 259.23M
Cash burn (monthly) (positive/no burn) (positive/no burn) (positive/no burn) (positive/no burn) (positive/no burn) 209.83K
Cash used (since last report) n/a n/a n/a n/a n/a 438.42K
Cash remaining n/a n/a n/a n/a n/a 258.79M
Runway (months of cash) n/a n/a n/a n/a n/a 1233.3

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
19 Oct 21 Agenus Common Stock Conversion Dispose C No No 0 5,451,958 0 26,332,958
19 Oct 21 Agenus Common Stock Buy Acquire P No No 12 1,400,000 16.8M 20,881,000
19 Oct 21 Agenus Convertible Promissory Note Common Stock Conversion Dispose C No No 0 5,451,958 0 0
1 Oct 21 Wiinberg Ulf Deferred Stock Units Common Stock Grant Acquire A No No 0 4,451.32 0 114,297.593
1 Oct 21 Wright Timothy Deferred Stock Units Common Stock Grant Acquire A No No 0 1,628.532 0 132,556.867
1 Oct 21 Susan B Hirsch Common Stock Grant Acquire A No No 5.76 3,257 18.76K 16,894

Data for the last complete 13F reporting period. To see the most recent changes to ownership, click the ownership history button above.

56.2% owned by funds/institutions
13F holders
Current Prev Q Change
Total holders 169 148 +14.2%
Opened positions 42 23 +82.6%
Closed positions 21 19 +10.5%
Increased positions 64 64
Reduced positions 31 33 -6.1%
13F shares
Current Prev Q Change
Total value 708.15M 714.76M -0.9%
Total shares 144.42M 140.76M +2.6%
Total puts 1.31M 943.1K +39.1%
Total calls 2.06M 1.43M +43.8%
Total put/call ratio 0.6 0.7 -3.3%
Largest owners
Shares Value Change
BLK Blackrock 16.58M $87.06M +2.7%
Vanguard 14.94M $78.41M +7.4%
INCY Incyte 14.06M $44.72M 0.0%
STT State Street 12.31M $64.64M +11.8%
Larry N Feinberg 11.07M $35.19M 0.0%
Oracle Investment Management 9.44M $49.55M +2.9%
RTW Investments 9.07M $47.64M -20.7%
Millennium Management 5.79M $30.41M +2.7%
Artal 5.5M $28.88M -8.3%
Cormorant Asset Management 4.81M $25.24M 0.0%
Largest transactions
Shares Bought/sold Change
Boxer Capital 0 -4M EXIT
Great Lakes Advisors 0 -2.48M EXIT
RTW Investments 9.07M -2.36M -20.7%
Point72 Asset Management 0 -2.05M EXIT
Renaissance Technologies 1.99M +1.92M +2741.7%
D. E. Shaw & Co. 3.06M +1.9M +164.2%
STT State Street 12.31M +1.3M +11.8%
Nuveen Asset Management 1.78M +1.13M +175.4%
Voloridge Investment Management 1.11M +1.05M +1978.1%
Susquehanna International 1.87M +1.05M +126.4%

Financial report summary

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Risks
  • Risks Related to Our Financial Position and Need for Additional Capital
  • We have incurred net losses in every year since our inception and anticipate that we will continue to incur net losses in the future.
  • We will require additional capital to fund our operations, and if we fail to obtain necessary financing, we will not be able to complete the development and commercialization of our product candidates.
  • Raising additional capital may cause dilution to our existing stockholders, restrict our operations or require us to relinquish rights to our technologies or product candidates.
  • The nature and length of our operating history may make it difficult to evaluate our technology and product development capabilities and predict our future performance.
  • Unstable market and economic conditions may have serious adverse consequences on our business, financial condition and stock price.
  • Our independent registered public accounting firm has included an explanatory paragraph relating to our ability to continue as a going concern in its report on our audited financial statements, and it is possible that such report on our financial statements may include such an explanation again in the future.
  • Risks Related to the Development of Our Product Candidates
  • Our business is highly dependent on the success of our clinical stage programs, including our AGEN1181 and related combination therapy programs, which still require significant additional clinical development.
  • The successful development of immune modulating antibodies, including AGEN1181, alone and in combination with other therapeutic candidates, is highly uncertain.
  • Interim top-line and preliminary data from our clinical trials that we announce or publish from time to time may change as more patient data become available and are subject to audit and verification procedures that could result in material changes in the final data.
  • Our clinical trials or those of our current and future collaborators may reveal significant adverse events not seen in our preclinical or nonclinical studies and may result in a safety profile that could inhibit regulatory approval or market acceptance of any of our product candidates.
  • We intend to develop our existing antibody candidates, and may develop future product candidates, alone and in combination with one or more additional cancer therapies. The uncertainty resulting from the use of our product candidates in combination with other cancer therapies may make it difficult to accurately predict side effects in future clinical trials.
  • Positive results from preclinical and clinical studies of our product candidates are not necessarily predictive of the results of later preclinical studies and any future clinical trials of our product candidates. If we cannot replicate the positive results from our earlier studies of our product candidates in our later studies and future clinical trials, we may be unable to successfully develop, obtain regulatory for and commercialize our product candidates.
  • If we encounter difficulties enrolling patients in our clinical trials, our clinical development activities could be delayed or otherwise adversely affected.
  • The number of product candidates that we are attempting to simultaneously advance creates a significant strain on our resources and may prevent us from successfully advancing any product candidates. If, due to our limited resources and access to capital, we prioritize development of certain product candidates, such decisions may prove to be wrong and may adversely affect our business.
  • Risks Related to the Commercialization of Our Product Candidates
  • If we are not able to obtain, or if there are delays in obtaining, required regulatory approvals for our product candidates, we will not be able to commercialize, or will be delayed in commercializing, our product candidates, and our ability to generate revenue will be materially impaired.
  • We expect the novel nature of our product candidates to create further challenges in obtaining regulatory approval. As a result, our ability to develop product candidates and obtain regulatory approval may be significantly impacted.
  • Obtaining and maintaining regulatory approval of our product candidates in one jurisdiction does not mean that we will be successful in obtaining regulatory approval of our product candidates in other jurisdictions.
  • Our product candidates may cause undesirable side effects that could delay or prevent their regulatory approval, limit the commercial profile of an approved label, or result in significant negative consequences following marketing approval, if any.
  • Even if our product candidates receive marketing approval, we, or others, may subsequently discover that such product is less effective than previously believed or causes undesirable side effects that were not previously identified and our ability to market such product will be compromised.
  • Even if our product candidates receive marketing approval, such products may fail to achieve the degree of market acceptance by physicians, patients, third- party payors and others in the medical community necessary for commercial success.
  • Even if we are able to commercialize any product candidates, such products may not receive coverage or may become subject to unfavorable pricing regulations, third-party reimbursement practices or healthcare reform initiatives, all of which would harm our business.
  • The market opportunities for our product candidates may be limited to those patients who are ineligible for or have failed prior treatments and may be small, and our estimates of the prevalence of our target patient populations may be inaccurate.
  • We are currently building marketing, sales and commercial compliance functions, and as a company, we have no experience in marketing, selling and distributing products or performing commercial compliance. If we are unable to establish such capabilities or enter into agreements with third parties to perform such functions, we may not be able to generate product revenue.
  • Risks Related to Manufacturing and Supply
  • Risks Related to Our Reliance on Third Parties
  • We rely on third parties to conduct our clinical trials. If these third parties do not successfully carry out their contractual duties or meet expected deadlines or comply with regulatory requirements, we may not be able to obtain regulatory approval of or commercialize any potential product candidates.
  • Risks Related to Government Regulations
  • The regulatory approval process for our product candidates in the United States, European Union and other jurisdictions is currently uncertain and will be lengthy, time-consuming and inherently unpredictable and we may experience significant delays in the clinical development and regulatory approval, if any, of our product candidates.
  • The FDA may disagree with our regulatory plan and we may fail to obtain regulatory approval of our product candidates.
  • The FDA, the EMA and other regulatory authorities may implement additional regulations or restrictions on the development and commercialization of our product candidates, which may be difficult to predict.
  • Breakthrough Therapy Designation or Fast Track Designation by the FDA, even if granted for any of our product candidates, may not lead to a faster development, regulatory review or approval process, and it does not increase the likelihood that any of our product candidates will receive marketing approval in the United States.
  • We may seek priority review designation for one or more of our other product candidates, but we might not receive such designation, and even if we do, such designation may not lead to a faster development or regulatory review or approval process.
  • We may not be able to obtain or maintain orphan drug designations from the FDA for our current and future product candidates, as applicable.
  • Our relationships with healthcare providers and physicians and third-party payors will be subject to applicable anti- kickback, fraud and abuse and other healthcare laws and regulations, which could expose us to criminal sanctions, civil penalties, contractual damages, reputational harm and diminished profits and future earnings.
  • Even if we receive regulatory approval of any product candidates or therapies, we will be subject to ongoing regulatory obligations and continued regulatory review, which may result in significant additional expense and we may be subject to penalties if we fail to comply with regulatory requirements or experience unanticipated problems with our product candidates.
  • Healthcare insurance coverage and reimbursement may be limited or unavailable in certain market segments for our product candidates, if approved, which could make it difficult for us to sell any product candidates or therapies profitably.
  • Ongoing healthcare legislative and regulatory reform measures may have a material adverse effect on our business and results of operations.
  • European Union drug marketing and reimbursement regulations may materially affect our ability to market and receive coverage for our products in the European member states.
  • European data collection is governed by restrictive regulations governing the use, processing, and cross-border transfer of personal information.
  • Laws and regulations governing any international operations may preclude us from developing, manufacturing and selling certain products outside of the United States and require us to develop and implement costly compliance programs.
  • We are subject to certain U.S. and foreign anti-corruption, anti-money laundering, export control, sanctions, and other trade laws and regulations. We can face serious consequences for violations.
  • Inadequate funding for the FDA and other government agencies could hinder their ability to hire and retain key leadership and other personnel, prevent new products and services from being developed or commercialized in a timely manner or otherwise prevent those agencies from performing normal business functions on which the operation of our business may rely, which could negatively impact our business.
  • If we do not comply with environmental laws and regulations, we may incur significant costs and potential disruption to our business.
  • Risks associated with doing business internationally could negatively affect our business.
  • The exit of the UK from the European Union may materially affect the regulatory regime that governs our handling of EU personal data and expose us to legal and business risks under European data privacy and protection law.
  • Our ability to use net operating losses and research and development credits to offset future taxable income may be subject to certain limitations.
  • Risks Related to Our Intellectual Property
  • If we are unable to obtain and enforce patent protection for our product candidates and related technology, our business could be materially harmed.
  • If any of our owned or in-licensed patent applications do not issue as patents in any jurisdiction, we may not be able to compete effectively.
  • If we fail to comply with our obligations under our intellectual property licenses with third parties, we could lose license rights that are important to our business.
  • We may not be able to protect our intellectual property rights throughout the world.
  • Obtaining and maintaining our patent protection depends on compliance with various procedural, documentary, fee payment and other requirements imposed by governmental patent agencies, and our patent protection could be reduced or eliminated for non-compliance with these requirements.
  • Changes in U.S. patent law could diminish the value of patents in general, thereby impairing our ability to protect our product candidates.
  • If we are unable to protect the confidentiality of our proprietary information, the value of our technology and products could be adversely affected.
  • We may be subject to claims that our employees, consultants or independent contractors have wrongfully used or disclosed confidential information of third parties.
  • Our commercial success depends significantly on our ability to operate without infringing the patents and other proprietary rights of third parties.
  • We may not identify relevant third-party patents or may incorrectly interpret the relevance, scope or expiration of a third-party patent which might adversely affect our ability to develop and market our product candidates.
  • We may become involved in lawsuits to protect or enforce our patents, which could be expensive, time consuming and unsuccessful.
  • If we do not obtain patent term extension and/or data exclusivity for any product candidates we may develop, our business may be materially harmed.
  • We may be subject to claims challenging the inventorship of our patents and other intellectual property.
  • If our trademarks and trade names are not adequately protected, then we may not be able to build name recognition in our markets of interest and our business may be adversely affected.
  • Intellectual property rights do not necessarily address all potential threats.
  • Risks Related to Business Operations, Employee Matters and Managing Growth
  • We have undergone significant growth across multiple locations over the past few years, and are focusing on further enhancing core areas and capabilities as we move toward commercialization. In addition, we have consolidated certain sites while expanding others to focus on our core priorities and future needs. We may encounter difficulties in managing these growth and/or consolidation efforts, either of which could disrupt our operations.
  • Product liability and other claims against us may reduce demand for our products and/or result in substantial damages.
  • We are highly reliant on certain members of our management team. In addition, we have limited internal resources and if we fail to recruit and/or retain the services of key employees and external consultants as needed, we may not be able to achieve our strategic and operational objectives.
  • Natural or man-made calamities, or public health crises, could disrupt our business and materially adversely affect our operations and those of our strategic partners.
  • Our affiliate, MiNK Therapeutics, successfully closed an IPO in October 2021. We have made substantial investments in MiNK Therapeutics. There is no guarantee that it will be able to continue to attract funding from other sources, and, even if the business receives such funding, there is no guarantee that it will be successful.
  • Risks Related to our Common Stock
  • We do not intend to pay cash dividends on our common stock and, consequently your ability to obtain a return on your investment will depend on appreciation in the price of our common stock.
  • The sale of a significant number of shares could cause the market price of our stock to decline.
  • Anti-takeover provisions under our charter documents and Delaware law could delay or prevent a change of control which could limit the market price of our common stock and may prevent or frustrate attempts by our stockholders to replace or remove our current management.
  • We have broad discretion in the use of our existing cash, cash equivalents and investments and may not use them effectively.
  • If securities or industry analysts do not continue to publish research or publish inaccurate or unfavorable research about our business, our stock price and trading volume could decline.
Content analysis
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Readability
H.S. junior Good
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