According to the Complaint, Agenus is a clinical-stage biotechnology company that discovers and develops immuno-oncology (“I-O”) products in the U.S. and internationally. Among other product candidates, the Company is developing balstilimab, an anti-PD-1 antagonist that has completed a Phase 2 clinical trial to treat second line cervical cancer; and botensilimab (AGEN1181), an antigen 4 (CTLA-4) blocking antibody that is in a Phase 2 clinical trial for the treatment of pancreatic cancer and melanoma.

The Complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding the Company’s business, operations, and prospects. Specifically, the Complaint alleges Defendants made false and/or misleading statements and/or failed to disclose that: (i) the combination therapy of botensilimab and balstilimab was less effective than Defendants had led investors to believe; (ii) accordingly, botensilimab and balstilimab’s clinical results, as well as their regulatory and commercial prospects, were overstated; and (iii) as a result, the Company’s public statements were materially false and misleading at all relevant times.

On December 6, 2024, the Court issued an Order appointing Lead Plaintiff and Counsel. Lead Plaintiff filed an amended Complaint on February 7, 2025.