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Analyst Conference Summary
Biotechnology
Agenus
AGEN
Conference date: 4:30 AM Pacific Time, November 5, 2026
for quarter ending: September 30, 2026 (Q3, third quarter 2026)
Overview:
Basic data (GAAP):
Revenue was $ million, up sequentially from $34.5 million and up from $ million year-earlier.
Net income was $ million, down sequentially from negative $0.6 million, and up from negative $ million year-earlier.
Earnings per share, diluted, (EPS) were negative $, up sequentially from negative $ and up from negative $ year-earlier.
Guidance:
none
Conference Highlights:
CEO Garo Armen stated: ""
Agenus arranged financing with an oversubscribed $85 million private placement. Could raise up to an additional $225 million from milestone-aligned warrents.
The prior Bot+Bal Phase 3 trial (Battman) was stopped in order to pursue a somewhat different opportunity, tied to the financing, and in line with the FDA. The Robbin Phase 3, global, registrational trial will be for Bot+Bal pre-surgery (neoadjuvant) dosing for patients with high-risk Stage II and Stage III microsatellite-stable (MSS) colon cancer. First patient dosing in Q1 2027. This is based on results from the independent Nest and Unicorn clinical trials, which showed deep responses. Would cover about 38,000 annual cases in the U.S. and 200,000 globally. The market opportunity could be $7 billion per year.
In Q3 the French authorized access program with several additional nations, generated $ million revenue, up sequentially from $6.4 million.
Cost of sales was $0 million. Research and development expense was $ million. General and administrative expense was $ million. Cost of service revenue $ million. Other loss $ million. Non-cash interest expense of $ million. Non-cash fair value adjustment negative $ million.
Cash and equivalents balance ended at $ million, down sequentially from $18.7 million. $85 million was raised Q3.
Q&A selective summary:
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Disclaimer: My analyst call summaries may include both our condensations of statements made by company representatives and my own analysis. They are not covered by any warranty. I cannot guarantee anything said by company representatives is true. I try not to make errors, but it is possible. This is journalism, not investment advice.
Copyright 2026 William P. Meyers