Is Agenus going out of business?

AGENUS INC (AGEN) Fundamentals

A quick summary of the latest filed figures while the full analysis loads.

AGENUS INC (AGEN) scores 21 out of 100 on fundamentals, Distressed / Caution, based on SEC filing data.

Leading signal: Shares dilution YoY: 50.74% (YoY)

Five questions, kept separate

Survival - Critical

2-4 mo of estimated runway from 2026-06-30, based on $18.7M of cash and short-term investments against $77.2M of annual burn. Adjusted shares outstanding increased 50.7% over the comparison year.

Business quality - Poor

-17.7% operating margin and -67.6% FCF margin produce a poor Business Quality assessment.

Trajectory - Accelerating

Revenue, operating margin and cash margin improved together. Revenue improved 30.5%; operating margin improved 113.2pp; FCF margin improved 90.6pp. The TTM window includes a mixed-basis Q4 estimate.

Valuation - Extreme expectations

-25.1% FCF yield supports an extreme expectations Valuation assessment on the annual basis.

Event risk - Evidence unavailable

No active asserted adverse event was found in the available filing evidence. The filing evidence is stale or incomplete, so this is not proof of absence.

What the rules read

• Shares dilution YoY: 50.74% (YoY)
• Debt / Equity: Negative equity (balance sheet deficit; monitor solvency)
• Gross margin (health): 99.11%
• FCF margin: -67.60%
• Cash Runway (years): 0.24y
• R&D intensity: 43.94%
• Return on Assets: -1.79%
• Revenue growth YoY: 34.36% (YoY) - Growth from a low base; sustainability uncertain.
• Revenue per Asset Efficiency: 10.47% QoQ (Improving)
• Debt Maturity Runway: 50% long-term
• Cash Burn Deceleration: -82.55% QoQ improvement (Worsening)
• Revenue Quality: Quality concerns (DSO +45d, Rev +34%)

Read from filings through 2026-08-07.

Price as of 2026-09-07.