Agenus (NASDAQ: AGEN) , a darling stock earlier this year, wasn't looking too attractive on Monday. The cancer-focused biotech's shares sank by 4.1% on the day following its second-quarter earnings release.
For the quarter, Agenus saw its revenue shrink to $10.7 million from the year-ago result of nearly $27 million. That was due largely to a sharp decline in the company's take for research and development; this dropped to $1.7 million from the 2020 second-quarter figure of over $18 million.
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Why Agenus Fell by Over 4% on Monday