BTW, this also explains the current incredibly low volume, as anyone with knowledge of material insider information cannot trade the stock.
Look at insider transactions for other similar major partnerships or buyouts, there is usually at least a month of quiet activity.
Shorts beware, I just saved your #$%$.
It needs to be pointed out that Garo used to take a potion of his salary in shares every month and that was a good part of any insider activity with AGEN. That's no longer the case.
But....your point is good...thanks.
Those privy to material information within a company are not allowed to trade based on that information until after that information is made public. If you look at the insider transactions over the last 2 years with AGEN, you'll notice that there has been at least 1 transaction per month from insiders - this tells us that they were not withholding any material information during that time and that all material information was being made public within a month.
THE LAST INSIDER TRANSACTION TOOK PLACE IN LATE JUNE, THAT IS NEARLY 4 MONTHS AGO. Why no insider activity for nearly 4 months? Coincidence? I think not, I believe the insiders are privy to some material information that is not yet public and it prohibits them from buying/selling any shares. Insider transactions must be reported within 4 business days. My sneaky suspicion is that this next quarterly report will include some material information resulting in a major price movement. My guess is that they're in talks with another company (partnering or buyout), as this is typically the case for biotechs, as any results/data are typically released within a week or two.
You heard it here first.
Once again, on behalf of the entire board, please accept our collective apology for not doing your
due diligence for you. Thanks.
Agenus Inc. (AGEN - Snapshot Report) is expected to report its third quarter 2014 results on Oct 23. Last quarter, the company had posted a negative surprise of 9.09%. Let’s see how things are shaping up for this announcement.
Factors at Play
Agenus posted positive surprises in three of the last four quarters with an average beat of 35.47%. However, things are not looking good since the second quarter. Although Agenus’ revenues increased to $3.1 million in the second quarter from $0.8 million in the year-ago quarter, its bottom-line results were affected by increased operating expenses. The trend is expected to continue in the third quarter as well.
Both the company’s research and development and general and administrative expenses are expected to climb this quarter. The reason for the rise in research and development expenses is because Agenus is investing heavily in its pipeline. The company has several pipleline candidates - prophage autologous (phase II, cancer vaccine) and herpV (phase II, herpes simplex virus-2).
Our proven model does not conclusively show that Agenus is likely to beat its bottom-line estimates this quarter. That is because a stock needs to have both a positive Earnings ESP and a Zacks Rank of #1, 2 or 3 for this to happen. That is not the case here as you will see below.
Zacks ESP: The Earnings ESP for Agenus is 0.00% since the Most Accurate Estimate stands at a loss of 16 cents per share, in line with the Zacks Consensus Estimate.
Zacks Rank #3 (Hold): Agenus’ Zacks Rank #3 when combined with a 0.00% ESP makes surprise prediction difficult.
was two .... now three .... these are the frontrunners in quest for eBola vaccine
Clinical tests on GSK's vaccine and another from NewLink Genetics are under way, while human tests on J&J's vaccine will start in January.
* GlaxoSmithKline sees first vaccine doses ready this year
* J&J and GSK executives discuss Ebola vaccine collaboration
* J&J investing up to $200 mln to accelerate program
U.S. firm Johnson & Johnson said it aims to produce at least 1 million doses of its two-step vaccine next year and has already discussed collaboration with Britain's GlaxoSmithKline
J&J vaccine was discovered in collaboration with the U.S. National Institutes of Health (NIH) and includes technology from Denmark-based Bavarian Nordic, which will now receive a cash injection from the American healthcare company.
The total potential deal value for Bavarian Nordic could be more than $187 million, including up-front payments, milestone payments based on product progress, a supply contract and the purchase by J&J of shares in the Danish biotech business.
Bavarian Nordic's share price jumped 23 percent to 185 Danish crowns after the announcement of J&J's plans.
J&J has simplified and fast-tracked its vaccine program in the light of the world's worst Ebola outbreak.