Agenus secures up to $340 mln to advance colon cancer drug into late-stage study; shares jump

Agenus

13/07/2026 11:20

** Shares of Agenus AGEN.O soar 22.4% to $4.07 premarket 
** The biotech firm says it secured up to $340 mln in private financing led by Commodore Capital and backed by RA Capital Management and other investors
** Funding will support a late-stage trial of experimental cancer drug combination botensilimab and balstilimab in high-risk colon cancer patients
** AGEN says study targets microsatellite-stable colon cancer, the most common form of the disease
** Adds that financing includes $85 mln upfront and up to $255 mln from warrant exercises, which can fund operations through 2031
** Says it would stop funding a separate study in advanced colon cancer to focus resources on the new trial
** Expects to begin enrolling patients in early 2027 and report initial results later that year
** As of last close, stock up ~7% YTD

 (Reporting by Sahil Pandey in Bengaluru)
 ((Sahil.Pandey@thomsonreuters.com))