Agenus Inc. (AGEN): history, ownership, mission, how it works & makes money

A Brief History of Agenus Inc. (AGEN)

Founding and Early Years

Agenus Inc. was founded in 1994 by Dr. Garo H. Armen in Cambridge, Massachusetts. Initially, the company focused on the development of cancer immunotherapy and vaccine technologies. The early strategy involved leveraging proprietary platforms to stimulate the immune system against tumors.

Public Offering and Initial Growth

Agenus went public in 2000 under the ticker symbol AGEN. The company raised approximately $50 million through its initial public offering (IPO).

Strategic Partnerships and Acquisitions

• In 2014, Agenus entered into a partnership with Merck & Co. for the development of next-generation immune-oncology therapeutics.
• In 2018, the company acquired 4D Pharma for approximately $16 million in stock and cash to enhance its immuno-oncology portfolio.

Product Pipeline and Clinical Trials

Agenus has developed several promising candidates in its pipeline:

Financial Performance

In 2022, the company reported total revenue of approximately $49.3 million. The net loss for the same year was around $75.5 million.

The company had cash and cash equivalents of $118.9 million as of December 31, 2022.

Recent Developments

In 2023, Agenus announced a partnership with Invitae to leverage genetic testing in the development of personalized therapies. The collaboration is expected to enhance patient selection in clinical trials.

Stock Performance

As of October 2023, Agenus Inc. stock (AGEN) was trading at approximately $0.85. The market capitalization was around $116 million.

Conclusion and Future Directions

Agenus continues to focus on advancing its immuno-oncology pipeline and forming strategic partnerships to maximize its development capabilities. The company remains committed to addressing unmet medical needs in cancer treatment.

A Who Owns Agenus Inc. (AGEN)

Major Shareholders

The ownership of Agenus Inc. is diversified among institutional and retail investors. As of the latest filings, the following major stakeholders have been identified:

Insider Ownership

Insider ownership contributes to the overall stake in Agenus, aligning the interests of management with shareholders. The following are key insiders with ownership stakes:

Institutional Ownership

Institutional investors play a significant role in the ownership structure of Agenus. Below is a summary of institutional ownership:

Market Capitalization

Agenus Inc. has a dynamic market cap that reflects its position in the biotechnology sector. As of October 2023, the market capitalization stands at:

• Market Capitalization: $1.07 billion
• Stock Price: $1.60
• Total Outstanding Shares: 667 million

Recent Financial Performance

The financial performance of Agenus indicates growth potential and strategic investments. Key figures from the last quarterly report include:

Recent Shareholder Actions

Shareholder actions can influence the governance and strategic direction of Agenus. Recent filings reveal:

• Shareholder Proposal to Increase Board Transparency
• Institutional Investor Votes in Favor of Management's Compensation Plans
• Recent Share Buyback Authorization of $30 million

Agenus Inc. (AGEN) Mission Statement

Company Overview

Agenus Inc. is a biotechnology company that focuses on the discovery and development of immuno-oncology therapies. The company is committed to advancing the treatment of cancer through its innovative biologic therapeutics.

Mission Statement

The mission of Agenus Inc. is to transform the treatment of cancer by harnessing the power of the immune system. This involves developing therapies that unlock the body's ability to fight cancer and improving patient outcomes.

Core Values

• Innovation: Continuous investment in research and development to create cutting-edge therapies.
• Integrity: Commitment to ethical practices in all business operations.
• Collaboration: Partnering with other organizations to expand the reach and efficacy of their therapies.
• Patient-Centric Approach: Focusing on the needs and well-being of patients in all endeavors.

Recent Financial Performance

As of the latest financial report, Agenus Inc. reported the following:

Strategic Goals

• Enhance Pipeline: Focus on advancing multiple immuno-oncology candidates toward clinical trials.
• Expand Partnerships: Seek strategic collaborations to enhance research capabilities.
• Increase Market Presence: Efforts to elevate the company's profile within the oncology space.

Market Position

Agenus Inc. is strategically positioned in the biotechnology sector, specifically in the immuno-oncology market, which was valued at approximately $45 billion in 2021 and is expected to grow at a CAGR of 13.3% through 2028.

Recent Developments

In April 2023, Agenus announced the successful Phase 1 trial results for its lead product candidate, AGEN1181, which demonstrated a 30% overall response rate in patients with advanced solid tumors.

Conclusion

• Vision for the Future: AGEN aims to expand its therapeutic capabilities and make significant contributions to cancer treatment.
• Leadership Team: Comprises industry veterans with extensive experience in biotechnology and pharmaceuticals.
• Commitment to R&D: AGEN allocates approximately 70% of its annual budget to research and development initiatives.

How Agenus Inc. (AGEN) Works

Company Overview

Agenus Inc. is a biotechnology company focused on immuno-oncology, developing innovative treatments to enhance the immune system's ability to fight cancer. Established in 1994, the company is based in Lexington, Massachusetts.

Financial Performance

As of the end of Q3 2023, Agenus reported:

• Revenue: $12.3 million
• Net loss: $44.6 million
• Total assets: $138.2 million
• Total liabilities: $84.3 million

Research and Development

Agenus invests substantially in R&D to advance its pipeline. In 2022, the company allocated:

• R&D Expenses: $54 million

The pipeline includes various monoclonal antibodies, vaccine candidates, and cell therapy products.

Pipeline Overview

Agenus has several clinical-stage assets. As of October 2023, the key candidates include:

Strategic Collaborations

Agenus engages in strategic partnerships to enhance its capabilities:

• Collaboration with Bristol-Myers Squibb for the development of AGEN2034.
• Partnership with GlaxoSmithKline for vaccine development.

Market Position and Competitors

Agenus operates in a competitive landscape that includes:

• Checkpoint inhibitors
• Cell and gene therapies
• Other immuno-oncology companies

Key competitors include:

• Merck (Keytruda)
• Bristol-Myers Squibb (Opdivo)
• Regeneron Pharmaceuticals

Stock Performance

As of October 2023, Agenus shares are trading at:

• Current stock price: $1.45
• Market capitalization: $137 million
• 52-week range: $1.25 - $3.47

Funding and Investment

Agenus has secured funding through various means:

• Recent equity offering raised $25 million in August 2023.
• Grant from the National Institutes of Health for $5 million in September 2023.

How Agenus Inc. (AGEN) Makes Money

Revenue Streams

Agenus Inc. generates revenue through multiple streams including collaboration agreements, licensing agreements, and product sales. The company focuses on developing immuno-oncology therapies. As of the latest financial reports, the key components of their revenue model include:

• Collaboration Agreements
• Licensing Agreements
• Sales of proprietary products

Collaboration Agreements

In 2022, Agenus entered into multiple collaboration agreements with larger pharmaceutical companies. The following table summarizes notable collaborations:

Licensing Agreements

Licenses for the development and commercialization of products also contribute significantly to Agenus's revenue. Agenus completed several licensing deals, as shown in the following table:

Product Sales

Product sales are another critical revenue source for Agenus. In the last fiscal year, the sales of their lead product, AGEN2034, contributed significantly to their revenue. The following financial data illustrates product sales:

Research and Development Grants

Agenus also receives funding through government and private sector grants aimed at supporting research and development activities. The estimated grant revenue for the last fiscal year was:

Financial Performance

The overall financial performance of Agenus can be assessed through their annual revenue and net income. The recent financial data shows: