These forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially. Reference to risks and uncertainties is made in today’s press release and they are disclosed in more detail in our more recent filing – in most recent filings with the U.S. SEC.
These statements speak only as of the date of this call and Agenus undertakes no obligation to update or revise the statements. All forward-looking statements are expressly qualified in their entirety by this cautionary statement. When evaluating Agenus’ business and securities, investors should give careful consideration to these risks and uncertainties. As a reminder, this call is being recorded for audio replay.
With that, I will now review our financial results for the second quarter and first half of 2011. The company reported net loss attributable to common stockholders of $6 million or $0.05 per share basic and diluted for the second quarter of 2011, compared to a net loss attributable to common stockholders in the second quarter of 2010 of $5.2 million or $0.05 per share basic and diluted.
For the six months ended June 30, 2011, the company incurred a net loss attributable to common stockholders of $12.1 million or $0.11 per share basic and diluted, compared with a net loss attributable to common stockholders of $14.2 million or $0.15 per share basic and diluted for the comparable period in 2010.The company’s net cash burn, which is cash used in operating activities plus capital expenditures and dividend payments for the second quarter of 2011 and 2010 was $4.2 million and $3.5 million, respectively. The 2011 net cash burn figure primarily reflects the company’s efforts to support the Prophage Series of cancer vaccines.Cash, cash equivalents and short-term investments were $12 million as of June 30, 2011.This concludes the financial portion of the call. Garo will now provide a brief corporate update.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV