Agenus Q1 2022 net loss $51M; cash $263M; botensilimab to Phase 2; Gilead $5M milestone

AGENUS INC

2023-Q1 EPS reported -$0.19 revenue$25,941,000

Net loss of $51M ($0.19/share) vs $54M ($0.27/share) YoY; revenue $26M (up from $12M).
Cash and short-term investments $263M, down from $307M at Dec 31, 2021; cash used in ops $52M.
Botensilimab advancing to Phase 2 trials in colorectal, melanoma, pancreatic cancers; data in Q3 2022.
AGEN1571 (ILT2) Phase 1 to start; AGEN2373 milestone of $5M from Gilead (up to $570M potential).
Cost containment measures initiated to reduce operating expenses in coming quarters.

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