AGEN (Agenus Inc.) stock: $8.21, $370.8M market cap, $18.7M cash, $382.1M EV, $452.3M fully diluted market cap. Next expected readout: Sep-27. Lead program: Botensilimab (Metastatic Colorectal Cancer), Phase 2. Data from Fully Diluted's biotech stocks database.
Pipeline assets
Botensilimab (BOT) + balstilimab (BAL)
Phase 2/3 · Active Modality: monoclonal antibodies
Target CTLA-4 (BOT) / PD-1 (BAL)
Partnerships Zydus Lifesciences: exclusive license to develop/manufacture/commercialize BOT/BAL in India and Sri Lanka; BAP Pharma: global distribution partner for access programs; Ligand: synthetic royalty on worldwide BOT/BAL net sales
Indications- Refractory MSS metastatic colorectal cancer (mCRC) without active liver metastases (Phase 2)
- Neoadjuvant high-risk Stage II/III MSS colon cancer (Phase 3)
- Other solid tumors (ovarian, sarcoma, hepatocellular, melanoma, NSCLC, pancreatic, TNBC) (Phase 1)
Catalysts- — None
- — None
- — None
- — None
- — None
Status note Lead program. BATTMAN Phase 3 (CCTG-sponsored, late-line metastatic MSS CRC) formally terminated after Agenus discontinued funding; decision was strategic, not efficacy/safety-driven. $11.0M pre-commercial revenue in 1H26 via early-access programs (not marketing approval).
AGEN2373
Phase 1 · Active Modality: monoclonal antibody (agonist)
Target CD137
Indications- Advanced solid tumors (Phase 1)
Status note Evaluated in Phase 1 alone and with BOT; internal development temporarily postponed under December 2024 strategic realignment; partnering or resumed development under evaluation.
AGEN1423
Stage not disclosed · Active Modality: antibody-based TRAP
Target CD73 / TGF-beta
Indications- Advanced Pancreatic Ductal Adenocarcinoma (Phase 2)
- Pancreatic Ductal Adenocarcinoma (Phase 2)
- Pancreatic Cancer (Phase 2)
Status note Earlier-stage program; internal development temporarily postponed under December 2024 strategic realignment.
AGEN1571
Stage not disclosed · Active Modality: monoclonal antibody
Target ILT2
Indications- not disclosed (Stage not disclosed)
Status note In clinical development (phase not specified in filing); internal development temporarily postponed under December 2024 strategic realignment.
AGEN1777
Phase 2 · Active Modality: bispecific antibody
Target TIGIT
Partnerships Bristol Myers Squibb: license voluntarily terminated July 2024 (effective January 2025); rights returned to Agenus
Status note BMS-dosed through Phase 2 (first patient dosed Phase 1 October 2021, Phase 2 December 2023); internal development temporarily postponed under December 2024 strategic realignment.
GITR antibody program (returned from Incyte)
Stage not disclosed · Active Modality: monoclonal antibody
Target GITR
Partnerships Incyte: collaboration terminated and all rights returned to Agenus; Ludwig Institute: licenses underlying antibodies
Indications- not disclosed (Stage not disclosed)
Status note Internal development temporarily postponed under December 2024 strategic realignment.
OX40 antibody program (returned from Incyte)
Stage not disclosed · Active Modality: monoclonal antibody
Target OX40
Partnerships Incyte: collaboration terminated and all rights returned to Agenus; Ludwig Institute: licenses underlying antibodies
Indications- not disclosed (Stage not disclosed)
Status note Internal development temporarily postponed under December 2024 strategic realignment.
LAG-3 antibody program (returned from Incyte)
Stage not disclosed · Active Modality: monoclonal antibody
Target LAG-3
Partnerships Incyte: collaboration terminated and all rights returned to Agenus; Ludwig Institute: licenses underlying antibodies
Indications- not disclosed (Stage not disclosed)
Status note Internal development temporarily postponed under December 2024 strategic realignment.
TIM-3 antibody program (returned from Incyte)
Stage not disclosed · Active Modality: monoclonal antibody
Target TIM-3
Partnerships Incyte: collaboration terminated and all rights returned to Agenus; Ludwig Institute: licenses underlying antibodies
Indications- not disclosed (Stage not disclosed)
Status note Internal development temporarily postponed under December 2024 strategic realignment.
MK-4830
Phase 2 · Active Modality: monoclonal antibody
Target ILT4
Partnerships Merck: discovery/optimization collaboration; Merck funds all development; Agenus eligible for milestones and royalties
Indications- Neoadjuvant ovarian cancer (with pembrolizumab and chemotherapy) (Phase 2)
Status note Merck-partnered program; in 2024 Merck limited further development to an ongoing neoadjuvant ovarian study.
cpcQS-21 (STIMULON, cultured)
Preclinical · Active Modality: saponin adjuvant
Partnerships Phyton Biotech and Ginkgo Bioworks (process optimization); Bill & Melinda Gates Foundation (2019 grant)
Indications- Vaccine adjuvant (Preclinical)
Status note Vaccine adjuvant platform via majority-owned subsidiary SaponiQx; cGMP cultured QS-21 available since 2023. Legacy bark-derived QS-21 royalty rights (GSK vaccines) were sold 100% to Healthcare Royalty Partners in 2018.
Per-asset detail extracted from the 10-Q filed 2026-08-07. Fields the filing does not state are marked "not disclosed" rather than filled from other sources.