Why Agenus Stock Plummeted by Nearly 30% on Its Stock Split News Today [Yahoo! Finance]
Agenus Inc. (AGEN)
Last agenus inc. earnings: 3/12 07:30 am
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Source: Yahoo! Finance
Shareholders of clinical-stage biotech Agenus (NASDAQ: AGEN) experienced this vividly on Thursday when their company announced its intention to start going down that road. The stock's price fell sharply, by almost 30%, contrasting with the 0.6% gain of the benchmark S&P 500 index. Twenty shares will become one In a regulatory filing and a letter to its shareholders, both published Thursday, Agenus revealed that it is seeking a reverse stock split . The proposed ratio is one share of the biotech company's common stock for each 20 currently held. The move is subject to an investor vote, which is to take place at a special shareholder meeting set for April 3. As is usual in such situations, the key impetus behind Agenus' proposal is the desire to push the company's market price over $1 per share. This is the minimum mandated by the Nasdaq , the exchange on which the stock is currently traded. The sharply negative reaction to the news makes this more urgent; Agenus's share price n
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AGEN
Earnings
- 3/14/24 - Miss
AGEN
Analyst Actions
- 3/18/24 - HC Wainwright
AGEN
Sec Filings
- 4/26/24 - Form ARS
- 4/26/24 - Form DEF
- 4/22/24 - Form 4
- AGEN's page on the SEC website