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AGENAgenus Inc.
$3.50$146M
Overview & Verdict
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AGEN logoAgenus Inc.(AGEN)Earnings, Financials & Key Ratios

AGEN•NASDAQ
$3.50
Price updated Jul 7, 2026
SectorHealthcareIndustryBiotechnologySub-IndustryOncology Therapeutics Developers
AboutAgenus Inc., a clinical-stage immuno-oncology company, discovers and develops immuno-oncology products in the United States and internationally. The company offers Retrocyte Display, an antibody expression platform for the identification of fully human and humanized monoclonal antibodies; and display technologies. It develops vaccine programs comprising Prophage vaccine candidate; and QS-21 Stimulon adjuvant, a saponin-based vaccine adjuvant. The company also develops Balstilimab, an anti-PD-1 antagonist that has completed Phase II clinical trial to treat second line cervical cancer; AGEN1181, an anti-CTLA-4 monospecific antibody that is in Phase 1/2 clinical trial; AGEN2373, an anti-CD137 monospecific antibody that is in Phase 1 clinical trial; AGEN1423, a tumor microenvironment conditioning anti-CD73/TGFß TRAP bi-functional antibody that has completed Phase 1 clinical trial; AGEN1777, an anti-TIGIT bispecific antibodies; and AGEN1327, a human monoclonal antibody. In addition, the company develops INCAGN1876, an anti-GITR monospecific antibody; INCAGN1949, an anti-OX40 monospecific antibody; INCAGN2390, an anti-TIM-3 monospecific antibody; INCAGN2385, an anti-LAG-3 monospecific antibody; MK-4830, a monospecific antibody targeting ILT4; AGENT 797, an iNKT cells that is in Phase 1 clinical trial for solid tumors, multiple myeloma, and viral ARDS, as well as in clinical stage to treat hematological malignancies and multiple myeloma/B cells; and AGEN1884, a first-generation anti-CTLA-4 monospecific antibody. Agenus Inc. operates under ASV, Agenus, AutoSynVax, EVAMPLIX, MiNK, PSV, PhosPhoSynVax, Prophage, Retrocyte Display, and Stimulon trademarks. It has collaborations with Incyte Corporation, Merck Sharpe & Dohme, Recepta Biopharma SA, and Gilead Sciences, Inc. The company was formerly known as Antigenics Inc. and changed its name to Agenus Inc. in January 2011. Agenus Inc. was founded in 1994 and is headquartered in Lexington, Massachusetts.Show more
  • Revenue$114M+10.4%
  • EBITDA-$11M+90.1%
  • Net Income$115K+100.1%
  • EPS (Diluted)-0.00+100.0%
  • Gross Margin29.63%+158.3%
  • EBITDA Margin-9.24%+91.1%
  • Operating Margin-18%+84.5%
  • Net Margin0.1%+100.0%

AGEN Price & Volume

Agenus Inc. (AGEN) stock price & volume — 10-year historical chart

Loading chart...

Volatile Milestone Revenue Masks Severe Liquidity Constraints

Investment Thesis • Updated 2026Q1

VerdictNegative
Growth:Mixed
Profitability:Negative
Financial:Vulnerable
Cash Flow:Burning
Primary Risk:Imminent liquidity exhaustion

Key Thesis Takeaways

  • Agenus faces a precarious financial outlook characterized by extreme revenue volatility, where top-line growth is driven by unpredictable milestone payments rather than consistent commercial operations.
  • While the company achieved a 116.3% net margin in 2026Q1, this appears to be an accounting anomaly rather than a sustainable trend, as evidenced by the persistent erosion of equity to a $221.2 million deficit.
  • Investors should exercise extreme caution given the critical liquidity risk, with cash reserves dwindling to $35.0 million against $304.5 million in total debt, necessitating potential dilutive financing to maintain clinical operations.

Verdict Logic

the company's precarious liquidity position, highlighted by a current ratio of 0.38 and a $221.2 million equity deficit, suggests an imminent risk of dilutive capital raises that could significantly impair shareholder value.

AGEN Growth Metrics

Agenus Inc. (AGEN) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR

Revenue CAGR

10 Years16.49%
5 Years5.31%
3 Years5.22%
TTM24.46%

Profit CAGR

10 Years-
5 Years-
3 Years-
TTM133.9%

EPS CAGR

10 Years-
5 Years-
3 Years-
TTM119.15%

Return on Capital

10 Years-135.82%
5 Years-137.56%
3 Years-248.03%
Last Year-

AGEN Recent Earnings

Agenus Inc. (AGEN) EPS & revenue vs analyst estimates — last 4 quarters

Full history →
●Beat EPS 5/12 qtrs (42%)●Beat Revenue 6/12 qtrs (50%)
Q2 2026Latest
May 11, 2026
Metric
Actual
Est
EPS
$1.02-51.4%
$2.10
Rev
$34M-74.0%
$130M
Q2 2026
Mar 16, 2026
Metric
Actual
Est
EPS
$0.56+144.1%
$1.27
Rev
$34M+21.7%
$28M
Q4 2025
Nov 10, 2025
Metric
Actual
Est
EPS
$1.94-26.2%
$2.63
Rev
$30M+7.6%
$28M
Q3 2025
Aug 11, 2025
Metric
Actual
Est
EPS
$1.00-28.2%
$0.78
Rev
$26M+2.8%
$25M
QuarterDateEPS (Act vs Est)Revenue (Act vs Est)
Q2 2026LatestMay 11, 2026
$1.02vs $2.10-51.4%
$34Mvs $130M-74.0%
Q2 2026Mar 16, 2026
$0.56vs $1.27+144.1%
$34Mvs $28M+21.7%
Q4 2025Nov 10, 2025
$1.94vs $2.63-26.2%
$30Mvs $28M+7.6%
Q3 2025Aug 11, 2025
$1.00vs $0.78-28.2%
$26Mvs $25M+2.8%
Based on last 12 quarters of dataView full earnings history →

Latest AGEN News

Recent stock market news and headlines for Agenus Inc. (AGEN)

Business Wire·2 days ago
Agenus Reports Landmark BOT+BAL Data Showing 33% Three-Year Overall Survival in Refractory MSS Metastatic Colorectal Cancer Without Active Liver Metastases at ESMO GI 2026

LEXINGTON, Mass.--(BUSINESS WIRE)---- $AGEN #BAL--Agenus Inc. (Nasdaq: AGEN), a leader in immuno-oncology innovation, today announced three-year landmark Phase 1b data from the fully enrolled C-800-01 cohort evaluating botensilimab (BOT), an Fc-enhanced multifunctional anti–CTLA-4 antibody, plus balstilimab (BAL), an anti–PD-1 antibody, in patients with refractory microsatellite-stable (MSS) metastatic colorectal cancer (mCRC) without active liver metastases. The data were presented at the European Society fo.

GuruFocus·Jun 25, 2026
Agenus Announces Three-Year Survival Data from Phase 1b BOT+BAL Study in MSS Metastatic Colorectal Cancer to be Presented at ESMO GI 2026

[url="]Agenus[/url] Inc. (Nasdaq: AGEN), a leader in immuno-oncology innovation, today announced that three-year survival data from the Phase 1b C-800-01 study

Business Wire·Jun 25, 2026
Agenus Announces Three-Year Survival Data from Phase 1b BOT+BAL Study in MSS Metastatic Colorectal Cancer to be Presented at ESMO GI 2026

LEXINGTON, Mass.--(BUSINESS WIRE)--Agenus Inc. (Nasdaq: AGEN), a leader in immuno-oncology innovation, today announced that three-year survival data from the Phase 1b C-800-01 study of botensilimab (BOT), an Fc-enhanced multifunctional anti–CTLA-4 antibody, plus balstilimab (BAL), an anti–PD-1 antibody, in patients with microsatellite stable (MSS) metastatic colorectal cancer (mCRC) without active liver metastases will be presented at the European Society for Medical Oncology Gastrointestinal C.

MarketBeat·Jun 16, 2026
Agenus Annual Meeting: BOT/BAL Leads Cancer Drug Push as Balance Sheet Improves

Agenus NASDAQ: AGEN told shareholders at its 2026 virtual annual meeting that it remains focused on advancing its botensilimab and balstilimab immunotherapy combination, known as BOT/BAL, while working to strengthen its financial position and pursue regulatory pathways in the United States and Europe.

Peers Comparison

Key metrics vs top competitors for Agenus Inc. (AGEN)

Full Screener →
CompanyPriceMarket CapP/E RatioRev Growth (1Y)Net MarginROEDiv Yield
AGEN logoAGENAgenus Inc.Current
$3.50$145.75M-1029.4110.37%0.1%——
NKTR logoNKTRNektar Therapeutics
$74.90$1.46B-7.70-43.89%-284.18%-87%—
INCY logoINCYIncyte Corporation
$118.05$23.58B18.4221.22%26.71%29.31%—
EXEL logoEXELExelixis, Inc.
$57.08$14.5B20.536.98%35.08%40.21%—
RCUS logoRCUSArcus Biosciences, Inc.
$30.25$3.05B-9.19-4.26%-156.36%-68.97%—
MGNX logoMGNXMacroGenics, Inc.
$4.75$301.92M-4.030.78%-44.79%-147.8%—

Compare AGEN vs Peers

Agenus Inc. (AGEN) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs NKTR

Most directly comparable listed peer for AGEN.

Scale Benchmark

vs MRK

Larger-name benchmark to compare AGEN against a more recognizable public peer.

Peer Set

Compare Top 5

vs NKTR, INCY, EXEL, RCUS

AGEN SEC Filings & Documents

Agenus Inc. (AGEN) SEC filings — annual & quarterly reports (10-K, 10-Q)

8-K Announcements

6
Material company update

May 15, 2026·SEC

Material company update

May 11, 2026·SEC

Material company update

Mar 26, 2026·SEC

10-K Annual Reports

3
FY 2026

Mar 16, 2026·SEC

FY 2025

Mar 17, 2025·SEC

FY 2024

Mar 14, 2024·SEC

10-Q Quarterly Reports

6
FY 2026

May 11, 2026·SEC

FY 2025

Nov 10, 2025·SEC

FY 2025

Aug 11, 2025·SEC

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AGEN Frequently Asked Questions

Agenus Inc. (AGEN) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials
What is Agenus Inc.'s revenue?

Agenus Inc. (AGEN) reported $123.9M in revenue for fiscal year 2025. This represents a 123766% increase from $0.1M in 1999.

How fast is Agenus Inc. growing?

Agenus Inc. (AGEN) grew revenue by 10.4% over the past year. This is steady growth.

Is AGEN profitable?

Yes, Agenus Inc. (AGEN) is profitable, generating $64.6M in net income for fiscal year 2025 (0.1% net margin).

Dividend & Returns
What is Agenus Inc.'s free cash flow?

Agenus Inc. (AGEN) had negative free cash flow of $87.5M in fiscal year 2025, likely due to heavy capital investments.

What if you invested $1,000 in AGEN back in 1999?

Total return calculator · dividends reinvested · 27+ years of data

See returns →