We may earn commissions if you use the recommended services on this site.  

Agenus Releases Q3 2023 Financial Results

Latest Business News

Agenus Reports Q3 2023 Results and Promising Data on Botensilimab

Agenus Inc. (Nasdaq: AGEN), a leader in developing immunological agents for cancer treatment, has announced its results for the third quarter of 2023. The company highlighted the effectiveness of botensilimab (BOT) in treating advanced solid tumors, including colorectal, pancreatic, lung, melanoma, and sarcoma. The positive clinical data on BOT has been presented at major cancer conferences and published in medical journals. Agenus plans to submit a Biologics License Application (BLA) to the U.S. Food & Drug Administration (FDA) for the treatment of microsatellite stable (MSS) metastatic colorectal cancer (CRC) in mid-2024. The company also provided updates on ongoing trials for pancreatic cancer, melanoma, and non-small cell lung cancer (NSCLC). Agenus is actively pursuing additional funding opportunities and potential corporate collaborations to support its objectives.

Promising Data on Botensilimab

Agenus reported significant tumor responses across a range of tumor types with botensilimab. Patients with microsatellite stable colorectal cancer (MSS CRC) showed a higher response rate and overall survival compared to standard of care. Neoadjuvant treatment with botensilimab resulted in tumor size reduction in colorectal cancer patients. Promising results were also observed in metastatic pancreatic cancer, advanced melanoma, refractory NSCLC, and advanced sarcomas.

Corporate Partnership Progress

Agenus highlighted its collaboration with Bristol Myers Squibb for the development of BMS-986442 (AGEN1777), a bispecific antagonist targeting TIGIT and CD96. The phase 1 study in solid tumors concluded successfully, and a phase 2 dose expansion study is currently underway.
Financial Overview
Agenus discussed its financial position, including steps taken to contain costs and plans for additional cash infusion. The company expects to close sales of non-strategic assets and milestones from partnered programs by the first half of 2024. With its current cash balance and planned transactions, Agenus believes it is sufficiently funded through the end of 2024. In conclusion, Agenus has reported promising results for botensilimab in treating various cancers. The company's ongoing trials and corporate partnerships demonstrate its commitment to advancing immunotherapy options. With a focus on financial sustainability and potential funding opportunities, Agenus aims to continue delivering value for patients and shareholders.

Agenus' Q3 2023 Results: A Potential Game-Changer for New Businesses in the Biotech Sector

The recent Q3 2023 results from Agenus Inc., a front-runner in the development of immunological agents for cancer treatment, could potentially revolutionize the landscape for new businesses in the biotech sector. The company's promising data on botensilimab (BOT) in treating advanced solid tumors, including colorectal, pancreatic, lung, melanoma, and sarcoma, has been recognized at major cancer conferences and medical journals. This breakthrough could open up a new frontier for startups aiming to innovate in the realm of cancer treatment.

The Impact of Botensilimab

The significant tumor responses across a range of tumor types with botensilimab could potentially set a new standard in cancer treatment. This could push new businesses to invest in similar groundbreaking research, fostering a competitive environment that could lead to more rapid advancements in the field.

Partnering for Progress

Agenus' successful collaboration with Bristol Myers Squibb for the development of a bispecific antagonist could inspire new businesses to seek out similar partnerships. Such collaborations could expedite the development process, helping startups to bring their innovative solutions to market more rapidly.
Financial Sustainability
Agenus' strategic financial planning, including cost containment and plans for additional cash infusion, offers a valuable lesson for new businesses. Ensuring financial sustainability is crucial for startups, particularly in the biotech sector, where research and development costs can be high. Agenus' approach could serve as a blueprint for new businesses aiming to balance innovation with financial stability. In conclusion, Agenus' Q3 2023 results could have far-reaching implications for new businesses in the biotech sector, potentially shaping the future of cancer treatment.
Story First Published at: https://financialpost.com/pmn/business-wire-news-releases-pmn/agenus-reports-third-quarter-2023-results
Brought to you by BusinessFormation.io
Know Your State's Registered Agent Requirements: What is a Registered Agent
Learn How To Create An LLC: What Is An LLC and How To Start an LLC Online
Business Formation Services: View Top 3 Online LLC Filing Companies

LLC Filing & Registered Agent Services

Compare Online LLC Filing Services Today

We work with the market leaders in business formation and registered agent services.

Getting started is simple and inexpensive. Form your business today & secure your brand name before someone beats you to it! Click below to view the Top 3 Best LLC and registered agent service providers.
View Top 3 Providers Now

Filing An LLC Can Be Complicated

Streamline Your LLC Filing Online for $39

Northwest Registered Agent is the best-rated service for first time filers.

Get professional LLC formation & registered agent services for only $39 + state filing fee. This offers includes your full LLC setup, plus a private business address, lifetime support, and more.

Trusted by Millions. Save 82% Today.