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Agenus Inc. (AGEN+2.94%) has submitted its annual report on Form 10-K filing for the fiscal year ended December 31, 2024.
The filing details the company's ongoing efforts in developing therapies to activate the body's immune system against cancer and infections, with a primary focus on immuno-oncology. Agenus is advancing its pipeline, which includes immune-modulatory antibodies, adoptive cell therapies, and vaccine adjuvants.
Agenus reported a net loss of $232.3 million for the year, compared to a net loss of $257.4 million in the previous year. The decrease in net loss is attributed to reduced research and development expenses.
Research and development expenses decreased to $155.5 million from $234.6 million in the prior year, primarily due to a decrease in third-party services and personnel-related expenses.
General and administrative expenses also decreased to $71.9 million from $78.7 million in the previous year, mainly due to a reduction in personnel-related expenses.
Agenus's cash and cash equivalents were $40.4 million as of December 31, 2024, down from $76.1 million at the end of 2023. The company acknowledges that it will require additional funding to continue its operations beyond the second quarter of 2025.
The company continues to explore strategic partnerships and licensing opportunities to support its operations and advance its clinical programs.
Agenus's lead program, botensilimab, is progressing through multiple clinical trials as a monotherapy and in combination with balstilimab. The combination received Fast Track designation from the FDA for certain colorectal cancer patients.
The filing also notes that Agenus has collaborations with several companies, including Bristol-Myers Squibb, Betta Pharmaceuticals, and Gilead Sciences, which have resulted in over a dozen antibody pre-clinical or clinical development programs.
Agenus's subsidiary, MiNK Therapeutics, is focused on developing allogeneic invariant natural killer T cell therapies to treat cancer and other immune-mediated diseases.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Agenus Inc. annual 10-K report dated March 17, 2025. To report an error, please email earnings@qz.com.