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Why Agenus Fell by Over 4% on Monday

TheMotleyFool

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Why Agenus Fell by Over 4% on MondayPhoto, wide shot, wide-angle lens, Clinical research organization, Blue hour, twilight, cool, ISO1200, slow shutter speed, photo by David Maisel: https://img.theapi.app/temp/0e9d087d-988e-4397-b7cf-6049e2776769.png

Agenus (NASDAQ: AGEN), a darling stock earlier this year, wasn't looking too attractive on Monday. The cancer-focused biotech's shares sank by 4.1% on the day following its second-quarter earnings release.

For the quarter, Agenus saw its revenue shrink to $10.7 million from the year-ago result of nearly $27 million. That was due largely to a sharp decline in the company's take for research and development; this dropped to $1.7 million from the 2020 second-quarter figure of over $18 million.

Image source: Getty Images.

Source Fool.com

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