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    AGEN   US00847G7051

AGENUS INC.

(AGEN)
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Agenus Shares Down 22% After Withdrawing BLA for Balstilimab

10/22/2021 | 07:39am EST

By Michael Dabaie

Agenus Inc. shares were down 22% to $3.98 in premarket trading Friday after the immuno-oncology company said it is withdrawing its biologics license application for balstilimab.

The decision to withdraw the biologics license application doesn't change the development plans for balstilimab combinations, the company said.

Following the full approval of pembrolizumab, or Keytruda, the U.S. Food and Drug Administration no longer considered it appropriate to review the BLA for accelerated approval and recommended Agenus withdraw, the company said. Merck & Co. earlier this month said that the FDA approved Keytruda in cervical cancer.

"While the commercial market for balstilimab monotherapy in second line cervical cancer was always anticipated to be small, Agenus' priority remains developing balstilimab as a necessary component of highly effective and affordable combination therapies, both with its own portfolio and with partners, including in combination with Agenus' next-generation CTLA-4, AGEN1181," Agenus Chief Executive Garo Armen said.

Agenus said it will discontinue its ongoing confirmatory trial, which is expected to reduce research and development expenses by more than $100 million.

Given the clinical benefit demonstrated by balstilimab, Agenus said it plans to launch expanded access programs to give patients and doctors access to balstilimab in several countries, including the U.S., pending regulatory processes.

Write to Michael Dabaie at michael.dabaie@wsj.com

(END) Dow Jones Newswires

10-22-21 0939ET

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Analyst Recommendations on AGENUS INC.
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Financials (USD)
Sales 2021 321 M - -
Net income 2021 16,9 M - -
Net Debt 2021 - - -
P/E ratio 2021 224x
Yield 2021 -
Capitalization 809 M 809 M -
Capi. / Sales 2021 2,52x
Capi. / Sales 2022 11,2x
Nbr of Employees 359
Free-Float 88,4%
Chart AGENUS INC.
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Agenus Inc. Technical Analysis Chart | AGEN | US00847G7051 | MarketScreener
Technical analysis trends AGENUS INC.
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Income Statement Evolution
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Mean consensus BUY
Number of Analysts 3
Last Close Price 2,98 $
Average target price 9,00 $
Spread / Average Target 202%
EPS Revisions
Managers and Directors
Garo H. Armen Chairman & Chief Executive Officer
Jennifer S. Buell President & Chief Operating Officer
Christine M. Klaskin Chief Financial & Accounting Officer, VP-Finance
Marc van Dijk Chief Technology Officer
Steven OĺDay Chief Medical Officer
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