Kite is arguably the better stock to own at the moment because of Axi-Cel's near-term commercial prospects. Agenus, after all, is still three to four years away from bringing one of its checkpoint inhibitors to market, and a lot can go wrong in the interim. That said, the FDA has never approved a CAR-T therapy before, so there is the real risk of a black swan type event regarding Axi-Cel's forthcoming regulatory review. While the chances for a rejection appear to be minimal based on all available evidence, the risk is enough to warrant caution with this promising mid-cap cancer stock. In other words, you probably shouldn't go hog wild when it comes to buying Kite's shares ahead of Axi-Cel's regulatory decision -- even though it does come across an outright bargain right now.
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