LEXINGTON, Mass. (AP) — LEXINGTON, Mass. (AP) — Agenus Inc. (AGEN) on Tuesday reported a loss of $74.1 million in its fourth quarter.
The Lexington, Massachusetts-based company said it had a loss of 24 cents per share.
The results missed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 22 cents per share.
The biotechnology company posted revenue of $28.4 million in the period, which beat Street forecasts. Four analysts surveyed by Zacks expected $17.8 million.
For the year, the company reported that its loss widened to $230.7 million, or 78 cents per share. Revenue was reported as $98 million.
The company's shares closed at $1.71. A year ago, they were trading at $2.81.
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, source Associated Press News