Agenus falls as FDA advises against 'accelerated approval' pathway for cancer therapy

Agenus

18/07/2024 13:28

** Therapy developer Agenus'  AGEN.O  shares fall ~52% to
$8.53 premarket
    ** Company says U.S. FDA advised against submission of
mid-stage trial results of its colorectal cancer therapy for
accelerated approval
    ** Company says FDA's advise based on view that objective
response rate of 19.4% shown in trial, which is percentage of
people who responded to treatment, may not translate to survival
benefit
    ** Company reaches agreement with FDA on dosing for
late-stage trials of botensilimab and balstilimab combination
therapy
    ** As of last close, stock up 7.1% YTD

 (Reporting by Christy Santhosh)
 ((Christy.Santhosh@thomsonreuters.com))