NasdaqCM:AGENBiotechs
Agenus (AGEN) Stock Drops As One Off Gain Masks Profit Slip
Agenus came into this earnings print looking like a deep value biotech, with a trailing P/E of 4.8x and a recent turn into profitability helped by a one off gain. The stock just fell about 7% on the day, which suggests the market is questioning how durable that story really is.
The headline this quarter is the squeeze on the income statement. Q2 net income swung to a loss of about US$0.6 million and basic EPS slipped back into a small loss, even as revenue held around US$34.5 million. For...