Agenus reports Q1 net loss $63.5M; announces $100M royalty financing with Ligand

AGENUS INC

Net loss narrowed to $63.5M ($3.04/shr) from $70.9M ($4.31/shr) a year ago; revenue $28M.
Cash and equivalents $52.9M at March 31, 2024, vs $76.1M at Dec 31, 2023; Q1 cash burn $38.2M.
Signed $100M royalty financing with Ligand ($75M initial + $25M option) to fund BOT/BAL launch readiness.
BOT/BAL Phase 1b in r/r MSS CRC NLM (n=77): 23% ORR, median OS 21.2 months, 12-month OS 71%.
Regained Nasdaq compliance after 20:1 reverse stock split in Q1 2024; plan BLA submission for BOT/BAL in H2 2024.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

AGENUS INC reported financial results for the quarter ended March 31, 2024.

Period: the quarter ended March 31, 2024
Result: reported results

Exact text from the filing

On May 7, 2024, Agenus Inc. announced its financial results for the quarter ended March 31, 2024. In connection with the announcement, the Company issued a press release, which is being furnished as Exhibit 99.1 to this current report on Form 8-K.

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Source: SEC EDGAR

accession 0000950170-24-053952

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