Agenus (AGEN) AI Stock Analysis

• Market Cap: $133.65M
• Dividend Yield: N/A
• Average Volume (3M): 483.50K
• Price to Earnings (P/E): ―
• Beta (1Y): 3.24
• Revenue Growth: -33.41%
• EPS Growth: 81.19%
• Country: US
• Employees: 316
• Sector: Healthcare
• Sector Strength: 45
• Industry: Biotechnology
• EPS (TTM): 1.94
• Shares Outstanding: 34,008,350
• 10 Day Avg. Volume: 544,068
• 30 Day Avg. Volume: 483,504
• PEG Ratio: 0.01
• Price to Book (P/B): -0.18
• Price to Sales (P/S): 0.57
• P/FCF Ratio: -0.37
• Enterprise Value/Market Cap: 3.42
• Enterprise Value/Revenue: 4.28
• Enterprise Value/Gross Profit: 5.32K
• Enterprise Value/Ebitda: 13.72
• 1Y Price Target: $23.00
• Price Target Upside: 429.95% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 1
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 45 Neutral
• Price Target: $4.50 ▲(3.69% Upside)

Agenus's overall stock score is primarily impacted by its poor financial performance, characterized by persistent losses and financial instability. Technical analysis provides some neutral signals, but the negative valuation metrics further weigh down the score. The absence of earnings call insights and corporate events leaves the financial and technical aspects as the primary determinants of the score.

Positive Factors

Pipeline Development

The initiation of a global Phase 3 trial indicates progress in drug development, which can lead to new product approvals and revenue streams.

Collaborations and Partnerships

Collaborations provide upfront payments and potential royalties, supporting revenue diversification and reducing financial risk.

Government Support

Government support for drug access can enhance market credibility and provide a stable revenue source, aiding long-term growth.

Negative Factors

Financial Instability

Negative equity and high leverage indicate financial distress, posing risks to operational sustainability and future growth.

Cash Flow Challenges

Inability to generate positive cash flow from operations limits investment in R&D and strategic initiatives, hindering growth.

Weak Profitability

Persistent losses and weak margins reflect cost management issues, impacting the company's ability to achieve sustainable profitability.

Agenus Business Overview & Revenue Model

Company Description

Agenus (AGEN) is a biotechnology company focused on the discovery and development of immuno-oncology therapies to treat cancer. The company operates primarily in the biopharmaceutical sector, leveraging its proprietary technology platforms to create a diverse pipeline of product candidates, which includes immune checkpoint modulators, cancer vaccines, and other immunotherapeutics. Agenus aims to harness the body's immune system to fight cancer, with a commitment to advancing novel therapies that can improve patient outcomes.

How the Company Makes Money

Agenus generates revenue through multiple streams, primarily from collaborations and partnerships with pharmaceutical companies, licensing agreements, and potential milestone payments associated with its drug development programs. The company often enters into partnerships to co-develop its therapies, which can provide upfront payments, research funding, and royalties on future sales. Additionally, Agenus may receive milestone payments as its products progress through clinical trials and regulatory approvals. The company also seeks to monetize its proprietary technologies by licensing them to other biotech and pharmaceutical companies, further contributing to its revenue.

Agenus Financial Statement Overview

Summary

Agenus faces significant financial challenges across all verticals. The income statement shows persistent losses and weak margins, while the balance sheet highlights financial instability with negative equity. Cash flow issues further exacerbate the company's financial health, posing risks to its sustainability and growth prospects.

Income Statement

Agenus shows a challenging financial position with consistently negative net profit margins and declining EBIT margins over the years. The revenue growth rate is volatile, with recent TTM data showing a slight improvement. However, the overall profitability remains a concern with negative gross profit margins, indicating cost management issues.

Balance Sheet

The balance sheet reflects significant financial instability, with negative stockholders' equity and a fluctuating debt-to-equity ratio. The negative equity ratio and high return on equity indicate potential financial distress and risk for stakeholders. The company's leverage position is concerning, with liabilities exceeding equity.

Cash Flow

Cash flow analysis reveals negative operating and free cash flows, with inconsistent growth rates. The operating cash flow to net income ratio is negative, indicating cash flow challenges. The free cash flow to net income ratio is close to 1, suggesting that the company is struggling to generate cash from its operations.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	106.83M	103.46M	156.31M	98.02M	295.67M	88.17M
Gross Profit	86.00K	-52.55M	-81.37M	-99.23M	113.59M	-56.80M
EBITDA	33.33M	-101.30M	-145.92M	-161.85M	43.78M	-114.63M
Net Income	-35.17M	-227.21M	-245.76M	-220.07M	-23.93M	-180.91M
Balance Sheet
Total Assets	233.89M	226.27M	313.91M	413.56M	465.96M	214.51M
Cash, Cash Equivalents and Short-Term Investments	3.46M	40.44M	76.11M	193.36M	306.92M	99.87M
Total Debt	45.77M	94.87M	93.19M	78.43M	58.29M	55.73M
Total Liabilities	514.76M	532.70M	462.30M	468.46M	418.05M	426.01M
Stockholders Equity	-274.14M	-326.38M	-160.33M	-61.28M	34.44M	-203.67M
Cash Flow
Free Cash Flow	-89.31M	-158.89M	-234.16M	-228.44M	-23.67M	-142.56M
Operating Cash Flow	-89.23M	-158.31M	-224.20M	-175.37M	10.14M	-139.10M
Investing Cash Flow	393.00K	27.00K	3.40M	-33.61M	-43.15M	-4.44M
Financing Cash Flow	45.59M	122.84M	119.87M	95.83M	225.26M	183.85M

Agenus Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 4.34
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AGEN, the sentiment is Negative. The current price of 4.34 is above the 20-day moving average (MA) of 4.20, above the 50-day MA of 4.12, and above the 200-day MA of 3.96, indicating a bearish trend. The MACD of -0.06 indicates Positive momentum. The RSI at 38.69 is Neutral, neither overbought nor oversold. The STOCH value of 24.02 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for AGEN.

Agenus Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
SPRO	48 Neutral	$131.27M	―	-95.29%	―	-67.38%	-1076.54%
AGEN	45 Neutral	$133.65M	-1.85	―	―	-33.41%	81.19%
INO	44 Neutral	$149.09M	―	-328.45%	―	-10.36%	42.36%
ONC	43 Neutral	―	―	―	―	―	―
HURA	36 Underperform	$127.76M	-0.70	-418.06%	―	―	99.21%
TIL	34 Underperform	$74.33M	―	-50.60%	―	―	1.40%

Agenus Corporate Events

Agenus Secures $10M Promissory Note with Zydus

On October 8, 2025, Agenus Inc. entered into a Promissory Note Agreement with Zydus Pharmaceuticals (USA) Inc. for up to $10 million. The Note will fund operational expenses for Agenus’s Emeryville and Berkeley facilities in the fourth quarter of 2025, with potential forgiveness if certain agreements close. Agenus pledged shares of MiNK Therapeutics as collateral, with provisions for release upon fulfillment of the Note’s obligations.

Agenus Faces CFIUS Review Delay in Zydus Deal

On June 3, 2025, Agenus and Zydus Pharmaceuticals (USA) Inc. entered into agreements for Zydus to acquire Agenus’s manufacturing assets, a minority stake in the company, and commercial rights in India and Sri Lanka for certain intellectual property. The companies submitted a filing to the Committee on Foreign Investment in the United States (CFIUS) for review. On September 17, 2025, CFIUS requested a full notice application, delaying the anticipated closing of these transactions to the fourth quarter of 2025.