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Agenus (Nasdaq: AGEN), a company specializing in immunological agents for cancer treatment, has announced inducement awards for Eric Olson, the newly appointed Head of Regulatory. The awards include options to purchase 7,500 shares of Agenus common stock with a 10-year term and an exercise price based on the closing price on June 3, 2024. These options will vest over four years in equal annual installments. Additionally, Olson will receive 5,500 restricted stock units, vesting over three years in equal annual installments, contingent on maintaining his service with Agenus. The awards were approved by the Compensation Committee under the 2015 Inducement Equity Plan and Nasdaq Listing Rule 5635(c)(4).
Agenus has announced new data from a Phase 1b trial involving botensilimab and balstilimab (BOT/BAL) in relapsed/refractory microsatellite stable colorectal cancer (r/r MSS CRC). These findings, to be presented at the 2024 ASCO Annual Meeting, highlight the efficacy of BOT/BAL in metastatic sites beyond the lungs and lymph nodes, including the peritoneum, soft tissue, and brain. The trial involved 77 heavily pre-treated patients, showing overall response rates (ORR) between 18-33% and disease control rates (DCR) from 67-82%. The overall survival (OS) ranged from 20.7 months to not reached (NR). No new safety signals were reported.
Agenus, a leader in immuno-oncology, announced that CEO Dr. Garo Armen and Chief Commercial Officer Robin Taylor will participate in the Goldman Sachs 45th Annual Global Healthcare Conference. This event will be held from June 10-13 in Miami Beach, Florida. A fireside chat featuring both executives will occur at 8:00 a.m. ET on June 12. The chat will be available via live webcast and replay on the company's website. Agenus focuses on developing immunological agents to treat cancer and infectious diseases. Their approach includes a pipeline of antibody therapeutics and adoptive cell therapies. The company is based in Lexington, MA.
Agenus has announced a significant milestone: an FDA Type B End-of-Phase 2 meeting set for July to discuss the botensilimab and balstilimab (BOT/BAL) combination therapy for relapsed/refractory metastatic colorectal cancer (r/r MSS mCRC).
This meeting aims to expedite the development of BOT/BAL and potentially support a future Biologics License Application (BLA) under the FDA’s accelerated approval pathway. The therapy previously received fast track designation in April 2023.
Phase 1 and 2 data from BOT/BAL studies provide insights into its potential efficacy for this challenging cancer type. These findings will be presented at a major medical conference later this year.
Beyond colorectal cancer, Agenus is exploring BOT/BAL for other cancer indications and plans to present further data at upcoming medical conferences.
Agenus Inc. reported first quarter 2024 results, including a $100M royalty financing agreement with Ligand, supporting BOT/BAL development. Reestablished market compliance with Nasdaq. Positive clinical results in colorectal cancer studies. Reduced cash burn rate with a reverse stock split. Financially, revenue was $28M, net loss $63.5M. BOT/BAL showed encouraging results in MSS CRC and neoadjuvant CRC. Agenus aims to engage with the FDA for BLA submission. Plan to release updated data in melanoma, lung cancer, sarcoma, and pancreatic cancer. Focus on commercial launch readiness activities.
Ligand Pharmaceuticals and Agenus have entered into a $100 million royalty financing agreement to support Agenus' key development initiatives in the BOT/BAL clinical development program. Ligand will pay $75 million initially and can invest an additional $25 million. They will receive royalties and milestone payments on six Agenus-partnered programs and future global net sales generated by BOT/BAL. Agenus can syndicate up to $125 million, with potential total capital infusion of $200 million. The partnership aims to advance transformative cancer treatments, including the BOT/BAL regimen.
Agenus Inc. has regained compliance with the minimum bid price requirement of $1.00 set by NASDAQ, ensuring continued listing on the NASDAQ Capital Market. The company focuses on immunology-based therapies for cancer, offering a robust pipeline of immunological agents. Agenus aims to enhance patient populations benefiting from cancer immunotherapy through combination approaches utilizing various antibody therapeutics, adoptive cell therapies, and adjuvants. Headquartered in Lexington, MA, Agenus is committed to advancing treatments for cancer and infectious diseases.
