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Jun 30, 2021
Agenus Q2 2021 Earnings Report
Agenus reported financial results for the second quarter of 2021 and provided a corporate update.
Key Takeaways
Agenus reported a net loss of $84 million, or $0.37 per share, for the second quarter of 2021. The company's cash balance was $74 million at the end of the quarter, compared to $100 million at the end of 2020. Subsequent to the quarter end, Agenus received $200 million related to their BMS partnership.
Collaboration with BMS was announced.
Flagship clinical candidate AGEN1181 advanced to an important data inflection point.
Data will be disclosed at a key cancer conference in the second half of the year.
Commercial platform will be ready in preparation for a balstilimab launch.
Forward Guidance
Agenus is focused on advancing its clinical programs and preparing for the potential commercial launch of balstilimab.
Positive Outlook
- Advancing AGEN1181 to data inflection point
- Disclosing data at a key cancer conference
- Preparing commercial platform for balstilimab launch
- Collaboration with BMS provides additional cash resources
- BLA accepted for Priority Review by U.S. FDA
Historical Earnings Impact
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