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MARKETS / NASDAQ / AGEN
NASDAQ · BIOLOGICAL PRODUCTS, (NO DIAGNOSTIC SUBSTANCES) · MID CAP

Agenus Inc. AGEN

17 fiscal years on record · USD · FY2025 reported · SEC filings only
$114.2M
▲ 10.4% YoY
$-3.1M
$-77.2M
In brief

What this company does

It maintains an equity investment in MiNK Therapeutics, Inc. with an approximate fair value of $24.3 million as of December 31, 2025, and holds majority ownership of a vaccine adjuvant business through its subsidiary SaponiQx, Inc. As of December 31, 2025, it owned approximately 46% of MiNK. As of February 28, 2026, it had 81 employees, of whom 19 held Ph.D. degrees and 5 held M.D. degrees. As of the date of the report, it owned, co-owned or had exclusive rights to at least 44 issued United States patents and at least 300 issued foreign patents. Antigenics L.L.C. was formed as a Delaware limited liability company in 1994, converted to Antigenics Inc., a Delaware corporation, in February 2000, and changed its name to Agenus Inc. on January 6, 2011.

Written from the business description in AGENUS INC's annual report to the U.S. Securities and Exchange Commission, filed 16 March 2026. Every sentence was checked against that document before publication.

Growth
USD 114.2M
Revenue, FY2025 · full 17-year series below
Revenue $M Net income $M
FY2025 · Revenue 114.2 · Net income -3.1
100M200M-100M-200M200920112013201520172019202120232025
Compound annual growth
+5.2%
+5.3%
+16.5%
+26.5%
3 yrs
5 yrs
10 yrs
15 yrs

Revenue compounded at +5.3% a year over five years.

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability
−3 cents
lost on every revenue dollar
Operating margin Net margin
FY2025 · Operating -17.7% · Net -2.7%
-500%200920112013201520172019202120232025
ROE
FY2016 · ROE -803.7%
-500%200920112013201520172019202120232025

Cash & shareholders
returned in FY2025 · dividends + net buybacks
Free cash flow $M
FY2025 · FCF -77.2
-80M-160M200920112013201520172019202120232025
Net buybacks $M Dividends $M
FY2011 · Dividends — · Net buybacks -1.2
-8M-16M200920102011

Total assetsUSD 226.8M
EquityUSD -271.1M
CashUSD 3.0M
Gross debtUSD 44.7M
Net debtUSD 41.7M
Current ratio0.41×

Equity was negative — liabilities exceeded assets. No ratio is shown.

The 17-year record
17 fiscal years
Every figure from documents filed with the SEC · USD

EPS, diluted, dividend per share and shares outstanding are shown without shading, and a vertical line marks the year the share count changed — the series crosses a large, unexplained change in share count, so the years on either side are not on a comparable scale.

row low → row highnegative
Metric 20252024202320222021202020192018201720162015201420132012201120102009
Revenue $B0.10.10.20.10.30.10.20.00.00.00.00.00.00.00.00.00.0
Operating income $B−0.0−0.1−0.2−0.20.0−0.1−0.1−0.1−0.1−0.1−0.1−0.0−0.0−0.0−0.0−0.0−0.0
EBITDA $B−0.0−0.1−0.1−0.20.0−0.1−0.1−0.1−0.1−0.1−0.1−0.0−0.0−0.0−0.0−0.0·
Income tax $B0.00.00.00.00.00.00.00.00.00.0−0.00.00.00.00.0··
Net income $B−0.0−0.2−0.3−0.2−0.0−0.2−0.1−0.2−0.1−0.1−0.1−0.0−0.0−0.0−0.0−0.0−0.0
Free cash flow $B−0.1−0.2−0.2−0.2−0.0−0.1−0.0−0.1−0.1−0.1−0.1−0.0−0.00.0−0.0−0.0−0.0
EPS, diluted $0.00−10.59−13.75−15.64−0.11−1.05−0.80−1.44−1.23−1.46−1.13−0.71−1.12−0.51−1.21−1.41−2.36
Dividend / sh $·················
Payout %·················
ROE %·········−803.7−187.5−458.4·····
Shares out B0.040.02···············

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

Provenance
Company facts, as filed
How we verify · 0 failures in 61 reconciliationsAUDITED

Reconciled in 17 of 19 fiscal years. 22 checks could not be computed.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquiditymoeda_consistente0 failures
ActivityBiological Products, (No Diagnostic Substances)
Listed onNASDAQ
Incorporated inDelaware
Fiscal year endsDecember 31
SEC categorysmaller reporting company
Data on record since2009

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