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Side-by-side financial comparison of Alpha Cognition Inc. (ACOG) and AGENUS INC (AGEN). Click either name above to swap in a different company.
AGENUS INC is the larger business by last-quarter revenue ($34.2M vs $2.8M, roughly 12.2× Alpha Cognition Inc.). AGENUS INC runs the higher net margin — -31.0% vs -245.5%, a 214.4% gap on every dollar of revenue.
Agenus Inc. is a Lexington, Massachusetts-based biotechnology company focused on immunotherapy including immuno-oncology, a field that uses the immune system to control or cure cancer. The company is developing checkpoint modulators (CPMs), patient-specific anti-cancer vaccines, and adjuvants designed for use with various vaccines. CPM development is a particularly fast-moving field, since early products have produced unprecedented clinical benefits for patients.
ACOG vs AGEN — Head-to-Head
Income Statement — Q4 2025 vs Q4 2025
| Metric | | |
|---|---|---|
| Revenue | $2.8M | $34.2M |
| Net Profit | $-6.9M | $-10.6M |
| Gross Margin | — | — |
| Operating Margin | -283.7% | 42.1% |
| Net Margin | -245.5% | -31.0% |
| Revenue YoY | — | 27.5% |
| Net Profit YoY | — | 77.3% |
| EPS (diluted) | $-0.10 | $0.09 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $2.8M | $34.2M | ||
| Q3 25 | $2.8M | $30.2M | ||
| Q2 25 | $1.7M | $25.7M | ||
| Q1 25 | $2.9M | $24.1M | ||
| Q4 24 | — | $26.8M | ||
| Q3 24 | — | $25.1M | ||
| Q2 24 | — | $23.5M | ||
| Q1 24 | — | $28.0M |
| Q4 25 | $-6.9M | $-10.6M | ||
| Q3 25 | $-1.3M | $63.9M | ||
| Q2 25 | $-10.5M | $-30.0M | ||
| Q1 25 | $-2.0M | $-26.4M | ||
| Q4 24 | — | $-46.8M | ||
| Q3 24 | — | $-67.2M | ||
| Q2 24 | — | $-54.8M | ||
| Q1 24 | — | $-63.5M |
| Q4 25 | — | — | ||
| Q3 25 | — | 97.9% | ||
| Q2 25 | 96.7% | 99.1% | ||
| Q1 25 | 99.6% | 99.4% | ||
| Q4 24 | — | 99.6% | ||
| Q3 24 | — | 99.4% | ||
| Q2 24 | — | 99.5% | ||
| Q1 24 | — | 99.6% |
| Q4 25 | -283.7% | 42.1% | ||
| Q3 25 | -187.0% | -15.0% | ||
| Q2 25 | -346.1% | -65.0% | ||
| Q1 25 | -125.9% | -55.3% | ||
| Q4 24 | — | -96.5% | ||
| Q3 24 | — | -125.5% | ||
| Q2 24 | — | -128.4% | ||
| Q1 24 | — | -117.4% |
| Q4 25 | -245.5% | -31.0% | ||
| Q3 25 | -46.4% | 211.4% | ||
| Q2 25 | -632.7% | -116.8% | ||
| Q1 25 | -68.5% | -109.6% | ||
| Q4 24 | — | -174.4% | ||
| Q3 24 | — | -267.7% | ||
| Q2 24 | — | -233.1% | ||
| Q1 24 | — | -226.6% |
| Q4 25 | $-0.10 | $0.09 | ||
| Q3 25 | $-0.30 | $1.94 | ||
| Q2 25 | $-0.65 | $-1.00 | ||
| Q1 25 | $-0.13 | $-1.03 | ||
| Q4 24 | — | $-1.95 | ||
| Q3 24 | — | $-3.08 | ||
| Q2 24 | — | $-2.52 | ||
| Q1 24 | — | $-3.04 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $66.0M | $3.0M |
| Total DebtLower is stronger | — | $44.7M |
| Stockholders' EquityBook value | $62.5M | $-271.1M |
| Total Assets | $79.7M | $226.8M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $66.0M | $3.0M | ||
| Q3 25 | $35.4M | $3.5M | ||
| Q2 25 | $39.4M | $9.5M | ||
| Q1 25 | $45.5M | $18.5M | ||
| Q4 24 | — | $40.4M | ||
| Q3 24 | — | $44.8M | ||
| Q2 24 | — | $93.7M | ||
| Q1 24 | — | $52.9M |
| Q4 25 | — | $44.7M | ||
| Q3 25 | — | $34.2M | ||
| Q2 25 | — | $33.9M | ||
| Q1 25 | — | $33.6M | ||
| Q4 24 | — | $33.2M | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $62.5M | $-271.1M | ||
| Q3 25 | $33.9M | $-274.1M | ||
| Q2 25 | $31.9M | $-354.6M | ||
| Q1 25 | $40.8M | $-341.8M | ||
| Q4 24 | — | $-326.4M | ||
| Q3 24 | — | $-292.3M | ||
| Q2 24 | — | $-241.3M | ||
| Q1 24 | — | $-201.4M |
| Q4 25 | $79.7M | $226.8M | ||
| Q3 25 | $46.3M | $233.9M | ||
| Q2 25 | $45.1M | $185.2M | ||
| Q1 25 | $48.6M | $200.2M | ||
| Q4 24 | — | $226.3M | ||
| Q3 24 | — | $238.5M | ||
| Q2 24 | — | $292.4M | ||
| Q1 24 | — | $256.6M |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $-6.9M | $-16.6M |
| Free Cash FlowOCF − Capex | $-7.1M | — |
| FCF MarginFCF / Revenue | -252.6% | — |
| Capex IntensityCapex / Revenue | 5.3% | 0.0% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-20.7M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-6.9M | $-16.6M | ||
| Q3 25 | $-5.3M | $-14.7M | ||
| Q2 25 | $-6.1M | $-20.2M | ||
| Q1 25 | $-2.0M | $-25.6M | ||
| Q4 24 | — | $-28.7M | ||
| Q3 24 | — | $-53.3M | ||
| Q2 24 | — | $-38.2M | ||
| Q1 24 | — | $-38.2M |
| Q4 25 | $-7.1M | — | ||
| Q3 25 | $-5.4M | — | ||
| Q2 25 | $-6.1M | $-20.2M | ||
| Q1 25 | $-2.1M | $-25.6M | ||
| Q4 24 | — | $-28.7M | ||
| Q3 24 | — | $-53.3M | ||
| Q2 24 | — | $-38.6M | ||
| Q1 24 | — | $-38.2M |
| Q4 25 | -252.6% | — | ||
| Q3 25 | -188.8% | — | ||
| Q2 25 | -370.9% | -78.7% | ||
| Q1 25 | -72.0% | -106.5% | ||
| Q4 24 | — | -107.0% | ||
| Q3 24 | — | -212.2% | ||
| Q2 24 | — | -164.4% | ||
| Q1 24 | — | -136.5% |
| Q4 25 | 5.3% | 0.0% | ||
| Q3 25 | 2.6% | 0.0% | ||
| Q2 25 | 0.5% | 0.0% | ||
| Q1 25 | 2.2% | 0.0% | ||
| Q4 24 | — | 0.3% | ||
| Q3 24 | — | 0.0% | ||
| Q2 24 | — | 2.0% | ||
| Q1 24 | — | 0.1% |
| Q4 25 | — | — | ||
| Q3 25 | — | -0.23× | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
