Argos Therapeutics Inc. ($ARGS) announced signing a strategic research agreement with genomic analysis firm Personalis. The agreement pertains to ongoing research efforts to prove that its lead product candidate, Phase 3-stage rocapuldencel-T, specifically targets patient-specific neoantigens without the need to first identify them.
The company will use Personalis' ACE ImmunoID next-gen sequencing (NGS) platform for examining tumor samples collected from clinical development of its tumor-specific dendritic cell technology to treat renal cell carcinoma (kidney cancer).
The financial terms of the collaboration have not been disclosed. The company stock has performed well as its grew over 96% this year. For the third quarter of this year, the company reported its net loss at $12.25 million. Its revenue for the quarter stood at $0.15 million. The results put a dampener on the stock price as It retracted from its high. The 52 weeks high for the stock is at $13.97.
However, Argos Therapeutics reported improvement in its operating margins. Its third quarter operating margin was reported -8,315.69%, up from -12,477.79%. The company also has robust pipeline which includes AGS-003 for the treatment of metastatic renal cell carcinoma and other cancers and AGS-004 for the treatment of HIV. Argos Therapeutics is based out of North Carolina.