Agenus is redirecting its Phase 3 colon-cancer strategy.
The biotech company said on July 13 that it will stop providing financial support for its BATTMAN study and make ROBBIN, a planned Phase 3 trial of BOT+BAL before colon-cancer surgery, its central development priority
The shift is backed by a private placement expected to provide about $85 million upfront. Agenus could receive another $255 million if accompanying warrants are fully exercised, bringing potential gross proceeds to $340 million. Investors rewarded the combination of a narrower clinical strategy and new capital.
Agenus (AGEN) shares were recently trading at $6.46, up 93.1% from July 10’s close, according to Yahoo Finance, after reaching $8.70 earlier in the session. The financing gives the company $85 million now and a possible route to the rest through warrants, a distinction that shapes both the opportunity and the dilution risk for shareholders. Agenus chooses ROBBIN over BATTMAN Agenus plans to direct the financing toward ROBBIN, a randomized global Phase 3 study of botensilimab plus balstilimab, known as BOT+BAL, in patients with high-risk Stage II and Stage III microsatellite-stable colon cancer.