LEXINGTON, Mass. (AP) — LEXINGTON, Mass. (AP) — Agenus Inc. (AGEN) on Thursday reported a loss of $48.6 million in its fourth quarter.
The Lexington, Massachusetts-based company said it had a loss of 13 cents per share.
The results did not meet Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 2 cents per share.
The biotechnology company posted revenue of $83.8 million in the period, surpassing Street forecasts. Three analysts surveyed by Zacks expected $54.2 million.
For the year, the company reported that its loss widened to $257.4 million, or 69 cents per share. Revenue was reported as $156.3 million.
The company's shares closed at 66 cents. A year ago, they were trading at $1.71.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AGEN at https://www.zacks.com/ap/AGEN