Agenus Inc.
Case Overview
41 Days Left to Seek Lead Plaintiff
Lead Plaintiff Deadline: | Lead Plaintiff Deadline: 11/05/2024 |
Status: | Status: Investigating |
Company Name: | Company Name: Agenus Inc. |
Court: | Court: District of Massachusetts |
Case Number: | Case Number: 1:24cv12299 |
Class Period: | Class Period: 01/23/2023 - 07/17/2024 |
Ticker: | Ticker: AGEN |
Related Attorneys: | Lead Attorneys: Thomas W. Elrod |
Related Practices: | Related Practices: Securities |
The law firm of Kirby McInerney LLP announces that a class action lawsuit has been filed in the U.S. District Court for the District of Massachusetts on behalf of those who acquired Agenus, Inc. (“Agenus” or the “Company”) (NASDAQ: AGEN) securities during the period of January 1, 2023 through July 17, 2024, inclusive (“the Class Period”). Investors have until November 5, 2024 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
On July 18, 2024, Agenus issued a press release announcing the results of an "end-of-Phase 2 meeting with the U.S. Food and Drug Administration (FDA), for the advancement of its immunotherapy combination, botensilimab and balstilimab, for the treatment of adult patients with relapsed/refractory microsatellite stable colorectal cancer with no active liver metastases." The press release revealed that the "FDA advised against submission of these results in support of an Accelerated Approval based on their view that objective response rates may not translate to survival benefit." On this news, the price of Agenus shares declined by $10.43 per share, or approximately 58.8%, to close at $7.30 per share on July 18, 2024.
The lawsuit alleges that Agenus made false and/or misleading statements and/or failed to disclose that: (i) the combination therapy of botensilimab and balstilimab was less effective than the Company had led investors to believe and (ii) accordingly, botensilimab and balstilimab's clinical results, as well as their regulatory and commercial prospects, were overstated.
On July 18, 2024, Agenus issued a press release announcing the results of an "end-of-Phase 2 meeting with the U.S. Food and Drug Administration (FDA), for the advancement of its immunotherapy combination, botensilimab and balstilimab, for the treatment of adult patients with relapsed/refractory microsatellite stable colorectal cancer with no active liver metastases." The press release revealed that the "FDA advised against submission of these results in support of an Accelerated Approval based on their view that objective response rates may not translate to survival benefit." On this news, the price of Agenus shares declined by $10.43 per share, or approximately 58.8%, to close at $7.30 per share on July 18, 2024.
The lawsuit alleges that Agenus made false and/or misleading statements and/or failed to disclose that: (i) the combination therapy of botensilimab and balstilimab was less effective than the Company had led investors to believe and (ii) accordingly, botensilimab and balstilimab's clinical results, as well as their regulatory and commercial prospects, were overstated.