Agenus Q2 net loss improves; Zydus deal adds $91M; BOT/BAL Phase 3 starts Q4 2025

AGENUS INC

2025-Q2 EPS reported -$2.03 vs consensus $1.38 ▼ miss (-247.1%)

Q2 revenue $25.7M; YTD net loss $56.4M vs $118.3M YoY; cash burn reduced to $45.8M from $76.4M.
Zydus collaboration closing Q3 2025; $91M upfront capital to support development and regulatory activities.
BOT/BAL: 42% two-year survival in refractory MSS CRC; FDA agreed to streamlined Phase 3 (BATTMAN) starting Q4 2025.
Virtual stakeholder meeting on August 27, 2025 to review Q2 results and strategic progress.
Noetik AI partnership started to refine patient selection via AI algorithms.

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