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Sep 30, 2020
Agenus Q3 2020 Earnings Report
Agenus reported its financial results for the third quarter of 2020.
Key Takeaways
Agenus reported a net loss of $52 million, or $0.28 per share, for the third quarter of 2020. The company's cash balance at the end of the quarter was $114 million.
Ended the third quarter of 2020 with a cash balance of $114 million, compared to $62 million at December 31, 2019.
Cash used in operations for the third quarter ended September 30, 2020 was $32 million.
Net loss for the quarter was $52 million or $0.28 per share, including non-cash expenses of $18 million.
Recognized revenue of $57 million for the nine months ended September 30, 2020, including revenue related to the upfront license fee from the Betta transaction and non-cash royalties earned.
Forward Guidance
The press release contains forward-looking statements regarding clinical development and regulatory plans and timelines, anticipated corporate milestones, new clinical data and program updates to be presented at SITC and the anticipated commencement of Agenus’ clinical collaboration with Rottapharm.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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