Agenus Inc. Reports Second Quarter 2024 Financial Results

Strong Cash Position Amidst Net Loss

LEXINGTON, Mass.--(BUSINESS WIRE)-- Agenus Inc. (NASDAQ: AGEN) today reported financial results for the second quarter ended June 30, 2024.

Financial Highlights

• Consolidated cash balance of $937 million, an increase from $761 million in the previous quarter
• Net loss of -$304.104 million, compared to expectations of -$311.03 million
• Reported EPS of -304104

“Despite a strengthened cash position, we recognize the need to address our operating expenses and drive revenue growth,” said Chief Executive Officer. “We remain committed to advancing our pipeline of innovative therapies and delivering value to our shareholders.”

Outlook

The company anticipates several key developments in the coming months, including:

• Data readouts from ongoing clinical trials
• Regulatory submissions for multiple product candidates
• Continued focus on operational efficiency and cost optimization

As the company navigates the challenges of the healthcare industry, it remains optimistic about its long-term growth prospects. With a strengthened cash position and a robust pipeline of therapies, Agenus Inc. is well-positioned to continue its mission of delivering innovative cancer treatments to patients.