---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-26-007706"
form_type: "8-K"
ticker: "AGEN"
cik: "0001098972"
company_name: "AGENUS INC"
filed_at: "2026-01-08T23:59:59+00:00"
generated_at: "2026-05-16T11:10:02.794501+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Agenus lowers warrant exercise price to $7.50; Ligand releases liens on assets

## Summary
- Modified warrant exercise price from $17.30 to $7.50 per share as part of Amendment Agreement with Ligand.
- Ligand released liens on certain of Agenus' assets in exchange for the reduced warrant price.
- Agreement executed Jan 3, 2026; full terms will be filed in upcoming 10-K.
- The modification is dilutive to existing shareholders if warrant is exercised.

## SEC filing metadata
- accession: 0001193125-26-007706
- form_type: 8-K
- ticker: AGEN
- cik: 0001098972
- company_name: AGENUS INC
- filed_at: 2026-01-08T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 1.01, 3.03
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1098972/000119312526007706/0001193125-26-007706-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1098972/000119312526007706/agen-20260103.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-26-007706
- JSON: https://secwatch.observer/filing/0001193125-26-007706.json
- Plain text: https://secwatch.observer/filing/0001193125-26-007706.txt

## Key facts
- Material Agreements
  AGENUS INC amended Amendment Agreement with Ligand Pharmaceuticals Incorporated (effective 2026-01-03).
  - Action: amendment
  - Agreement: asset purchase
  - Counterparty: Ligand Pharmaceuticals Incorporated
  - Effective: 2026-01-03
  source text: On January 3, 2026, Agenus Inc. (the “Company”), Agenus Royalty Fund, LLC and Agenus Holdings 2024, LLC entered into an amendment and release agreement (the “Amendment Agreement”) with Ligand Pharmaceuticals Incorporated (“Ligand”) related to a Purchase and Sale Agreement and related Warrant each previously disclosed in the Company’s Current Report on Form 8-K filed with the SEC on May 7, 2024.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1098972/000119312526007706/0001193125-26-007706-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.