New Threads Only:  Add to Google Reader or Homepage
New Threads & Replies:  Add to Google Reader or Homepage
Forums are for serious investors only. GuruFocus Forum Rules.

Forum List » Business News and Headlines
SEC Filings, Earing Reports, Press Releases
New Topic Search
Goto Thread: PreviousNext
Goto: Forum ListMessage ListNew TopicSearchLog In
Antigenics Inc. Reports Operating Results (10-Q)
Posted by: gurufocus (IP Logged)
Date: August 8, 2012 10:20AM

Antigenics Inc. (AGEN) filed Quarterly Report for the period ended 2012-06-30. Agenus Inc has a market cap of $108.7 million; its shares were traded at around $4.77 with and P/S ratio of 39.4.



Highlight of Business Operations:

Revenue: We generated revenue of $627,000 and $786,000 during the quarters ended June 30, 2012 and 2011, respectively. Revenue includes license fees, royalties earned, and in 2012, service revenue. During the quarters ended June 30, 2012 and 2011, we recorded revenue of $388,000 and $385,000, respectively, from the amortization of deferred revenue.

Revenue: We generated revenue of $14.0 million and $1.5 million during the six months ended June 30, 2012 and 2011, respectively. Revenue includes license fees, royalties earned, and in 2012, service revenue. For the six months ended June 30, 2012, we recognized revenue of $6.5 million through an expanded license agreement with GSK, which provided GSK with an additional license to an undisclosed indication, and $6.25 million through a license of non-core technologies

with an existing licensee that resulted in a buy-out of the current royalty stream related to the license. During the six months ended June 30, 2012 and 2011, we recorded revenue of $778,000 and $770,000, respectively, from the amortization of deferred revenue. Our revenue for the six months ended June 30, 2012 primarily resulted from one-time payments received under amended license agreements, and, therefore is not indicative of future results.

Net cash provided by operating activities for the six months ended June 30, 2012 was $7.9 million while cash used in operating activities for the six months ended June 30, 2011 was $8.7 million. This increase in cash provided by operating activities for the period ended June 30, 2012 primarily resulted from one-time payments received under amended license agreements, and, therefore is not indicative of future results. During the six months ended June 30, 2012, we recognized revenue of $12.8 million related to expanded license agreements. We continue to support and develop our QS-21 partnering collaborations, with the goal of earning royalties from this product in the 2014 timeframe. Our future ability to generate cash from operations will depend on achieving regulatory approval of our product candidates, and market acceptance of Oncophage and our product candidates, achieving benchmarks as defined in existing collaborative agreements, and our ability to enter into new collaborations. Please see the risks highlighted under Part II-Item 1A. “Risk Factors” of this Quarterly Report on Form 10-Q.

Read the The complete Report



Stocks Discussed: AGEN,
Rate this post:




Sorry, only registered users may post in this forum.

Please Login if you have an account or Create a Free Account if you don't




Get WordPress Plugins for easy affiliate links on Stock Tickers and Guru Names | Earn affiliate commissions by embedding GuruFocus Charts
GuruFocus Affiliate Program: Earn up to $400 per referral. ( Learn More)
Free 7-day Trial