Why Agenus Was Rising High on Tuesday

A rather up-and-down stock even in the up-and-down world of biotech, Agenus (NASDAQ: AGEN) was seeing a bit of a peak on Tuesday. In mid-afternoon trading, the company's shares were up by 7.5% on the back of an encouraging earnings report.

That morning, Agenus published its Q3 results. These showed that the immuno-oncology-focused biotech booked just under $253 million in revenue, well up from the $14.8 million in the same quarter last year. It also earned a net profit -- specifically, $177.3 million ($0.72 per share), a dramatic improvement over the nearly $52 million the company lost in Q3 2020.

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Source Fool.com