Why Agenus Stock Tumbled Today
Shares of Agenus (NASDAQ: AGEN) were tumbling 4.9% lower as of 3:44 p.m. EDT on Thursday after falling as much as 7.5% earlier in the day. The decline came after the company provided its first-quarter update before the market opened.
Agenus reported revenue of $11.7 million in the first quarter, all of which stemmed from its collaborations with other drugmakers. This result fell short of the average analysts' revenue estimate of $14.5 million. The company posted a net loss of $54.4 million, or $0.27 per share. The consensus analysts' estimate was for a net loss in Q1 of $0.31 per share.
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Source Fool.com
