Shares of Agenus Inc. traded up 23.87% on Thursday before the company earlier announced an oral presentation at the upcoming European Society of Medical Oncology (ESMO) Conference on September 18, 2020. Previously, it has disclosed that it will present the data from Phase 2 trials of balstilimab alone and in combination with zalifrelimab in ESMO Conference.
Agenus Inc is currently engaged in the development of compounds that are helpful for the immune system in its fight against cancer. The advanced drugs of Agenus include anti-PD-1 targeting therapy, balstilimab, and the anti-CTLA-4 antibody, zalifrelimab. The company has earlier announced the encouraging result for these products in refractory and relapsing cancer.
As the company has announced that it will present data related to balstilimab and zalifrelimab in the upcoming conference it is expected that Agenus will disclose the new discoveries. Investors are confident that the data to be presented at the ESMO conferences will increase the success chances of these new advanced drugs. There are chances that these new compounds will receive FDA approval after showing promising results.
Shares of Agenus Inc up 23.87% as it gained +1.00 during the trading session of Thursday. In the past 52-weeks of trading, this company’s stock has fluctuated between the low of $1.82 and a high of $4.78. Agenus has moved up 185.16% and 8.46% from its 52-weeks low and high, respectively. It has a market capitalization of $973.90 million at the time of writing. Focusing on its liquidity, it has a current ratio of 0.70.
Agenus Inc has earlier signed an agreement with Betta Pharmaceuticals for the development and commercialization of balstilimab and zalifrelimab in Greater China, including Mainland China, Taiwan, Hong Kong, and Macau. AGEN secured the payment of $35 million which includes $15 million in upfront cash and $20 million equity investment.
Agenus is planning to get FDA approval for balstilimab before the end of 2020. It is not confirmed yet whether the data to be presented at ESMO will impress attendees or that the FDA will ultimately reject these drugs.