Core Insights - The company is entering a pivotal year marked by significant progress in patient access, clinical development, and operational readiness [1] - The discussion will include forward-looking statements that are subject to risks and uncertainties [2] Company Developments - Recent collaboration with Zydus has been closed, which is expected to enhance operational capabilities for the company [3] - There is an expansion of France's reimbursed AAC program, particularly relevant for sarcomas, indicating a growing interest from physicians and patients [3] Leadership Engagement - The leadership team, including the Chief Medical Officer, Chief Medical Affairs Officer, and Chief Commercial Officer, will participate in a live Q&A session to address stakeholder inquiries [4]

Core Insights - The Anglo-Swiss mining and trading company reported an 11% decline in copper production for the previous year, indicating a significant drop in output [1] - However, the company experienced a notable recovery in the second half of 2025, with copper production nearly 50% higher compared to the first half of the year [1] Company Performance - Copper production decreased by 11% year-over-year, reflecting challenges faced by the company in maintaining output levels [1] - The second half of 2025 showed a strong rebound, with production levels almost 50% higher than the first half, suggesting potential for recovery and growth in the upcoming periods [1]

Agenus (NasdaqCM:AGEN) Update / briefing January 28, 2026 04:00 PM ET Company ParticipantsGaro Armen - Chairman and CEOJose Iglesias - Chief Medical Affairs OfficerRobin Jones - Sarcoma SpecialistRobin Taylor - Chief Commercial OfficerStefanie Nacar - Chief Communications and Government Relations OfficerSteven O'Day - Chief Medical OfficerStefanie NacarGood afternoon, everyone, and thank you for joining us today. I'm Stefanie Perna-Nacar, Chief Communications Officer at Agenus, and welcome to our first stak ...

Core Viewpoint - Agenus Inc. is set to host its first Stakeholder Webcast of 2026, focusing on the global momentum of its botensilimab and balstilimab (BOT+BAL) program as it enters the new year [1][2]. Group 1: Webcast Details - The webcast will take place on January 28, 2026, at 4:00 p.m. ET and will feature insights from Agenus leadership and an international oncology expert [1][2]. - The session will include a live Q&A, allowing stakeholders to submit questions in advance [3]. Group 2: Featured Topics and Speakers - Garo Armen, PhD, will discuss a recent strategic collaboration with Zydus Lifesciences, emphasizing its role in strengthening Agenus' global development and patient access programs for BOT+BAL [4]. - Professor Robin Jones will provide a clinical perspective on the expansion of France's Autorisation d'Accès Compassionnel (AAC) program to include sarcoma patients, highlighting the unmet medical needs in this area [5]. - José Iglesias, MD, will address the expansion of Agenus' global medical affairs organization and its support for authorized access pathways as the BOT+BAL program progresses through Phase 3 evaluation [6]. Group 3: Company Overview - Agenus is a leading immuno-oncology company with a comprehensive pipeline of immunological agents, founded in 1994 [8]. - The company aims to expand patient populations benefiting from cancer immunotherapy through various therapeutic approaches, including antibody therapeutics and adoptive cell therapies [8]. Group 4: Product Information - Botensilimab is designed to enhance anti-tumor immune responses and has shown clinical responses across nine metastatic, late-line cancers, with approximately 1,200 patients treated in clinical trials [10][11]. - Balstilimab is a fully human monoclonal antibody that blocks PD-1 and has been evaluated in over 900 patients, demonstrating clinical activity across several tumor types [12].

Core Viewpoint - Zydus Lifesciences is considering acquiring a majority stake in US-based Ardelyx Inc., with the deal estimated to be valued between $2.2 billion and $2.5 billion, indicating a strategic move towards global innovative medicine [1][2]. Company Overview - Ardelyx Inc. is a biopharmaceutical company focused on developing first-in-class small-molecule drugs for gastrointestinal and cardio-renal diseases, addressing significant unmet patient needs. As of January 20, its market capitalization was $1.7 billion, with reported revenue of $378 million in 2025, reflecting an 18% increase [3]. Funding and Financial Strategy - The acquisition is expected to be financed through a ₹5,000-crore equity raise via a qualified institutional placement (QIP) and internal cash accruals, showcasing Zydus's commitment to expanding its innovative medicine portfolio [2]. Recent Acquisitions and Expansion - Zydus has been actively expanding its global presence through smaller acquisitions, including two biologics contract development and manufacturing facilities in the US for $75 million, and a 100% stake in French medical devices maker Amplitude Surgical for approximately €300 million, enhancing its capabilities in biologics and medtech [5][6]. Focus Areas in MedTech - The company has identified cardiology, nephrology, and orthopedics as key focus areas in the MedTech space, aiming to leverage Amplitude's portfolio to provide innovative solutions for diverse patient needs [7]. Consumer Wellness Segment - Zydus Wellness, a subsidiary, completed its first overseas acquisition by purchasing UK-based Comfort Click for around £239 million, indicating a strategic move into the consumer wellness market [8]. Competitive Landscape - The potential acquisition of Ardelyx comes amid reports of rival Sun Pharmaceutical's interest in acquiring Organon for approximately $10 billion, highlighting the competitive dynamics within the pharmaceutical industry [9]. Innovation and Clinical Development - Zydus is advancing its in-house innovation, with positive results from a Phase 2(b)/3 clinical trial of saroglitazar magnesium for primary biliary cirrhosis, and plans to file a new drug application with the US FDA in FY26 [11][12]. Financial Performance - Zydus reported a strong Q2 FY26 performance, with revenue increasing by about 17% year-on-year to approximately ₹6,100 crore and net profit rising nearly 38% to around ₹1,260 crore, driven by improved performance in its India and US formulation businesses [13][14].

Core Insights - Zydus Lifesciences Limited has successfully closed multiple agreements with Agenus Inc., including an Asset Purchase Agreement, Share Purchase Agreement, and an exclusive Licensing Agreement, following necessary regulatory approvals [1] - The transaction establishes Zydus' advanced manufacturing capabilities in the global biologics contract development and manufacturing organization (CDMO) sector through a new subsidiary, Zylidac Bio LLC [2] Group 1: Strategic Importance - Zylidac Bio LLC will provide biological manufacturing sites offering CDMO services to biopharmaceutical companies globally, supporting the U.S. landscape for secure and high-quality supply chains for advanced therapies [3] - The collaboration enhances Agenus' immunotherapy pipeline and U.S.-based clinical development capabilities while allowing Zydus to leverage its global manufacturing and commercial infrastructure [3] Group 2: Regulatory and Market Context - The establishment of Zylidac Bio LLC aligns with the BIOSECURE Act, which restricts U.S. agencies from contracting with certain biotechnology companies, thus providing a compliant manufacturing option for global biopharmaceutical firms [3] - Zydus has secured exclusive rights to commercialize Agenus' lead immuno-oncology assets, Botensilimab and Balstilimab, in India and Sri Lanka, enhancing its market position [4] Group 3: Financial and Operational Developments - Zydus completed an equity investment in Agenus Inc. through its venture capital arm, Zynext Ventures, complementing its strategic partnership with Formycon for a Keytruda® biosimilar [5] - The localized supply chain established by Zylidac Bio LLC ensures agility and security for Zydus' expanding biosimilar and innovative product portfolio [5]

Core Viewpoint - Agenus Inc. has successfully closed a strategic collaboration with Zydus Lifesciences Ltd to enhance the development and commercialization of its immunotherapy combination program involving botensilimab and balstilimab [1] Group 1: Collaboration Details - The agreement aims to accelerate global development and potential commercialization of the BOT+BAL immunotherapy combination program [1] - The collaboration provides Agenus with strategic capital and long-term biologics manufacturing capacity [1]

Core Viewpoint - Agenus (AGEN) has received an upgrade to a Zacks Rank 2 (Buy), indicating a positive outlook based on rising earnings estimates, which are a significant factor influencing stock prices [1][3]. Earnings Estimates and Stock Price Movement - The Zacks rating system is based on changes in earnings estimates, which are strongly correlated with near-term stock price movements [4][6]. - Institutional investors utilize earnings estimates to determine the fair value of stocks, leading to buying or selling actions that affect stock prices [4]. Company Performance and Investor Sentiment - The upgrade for Agenus reflects an improvement in the company's underlying business, suggesting that investors may respond positively by driving the stock price higher [5]. - Over the past three months, the Zacks Consensus Estimate for Agenus has increased by 77.2%, indicating a significant upward revision in earnings expectations [8]. Zacks Rank System - The Zacks Rank system classifies stocks into five groups based on earnings estimates, with a strong historical performance, particularly for Zacks Rank 1 stocks, which have averaged a +25% annual return since 1988 [7]. - Agenus' upgrade to Zacks Rank 2 places it in the top 20% of Zacks-covered stocks, suggesting a strong potential for market-beating returns in the near term [10].

Core Insights - Agenus Inc. announced promising clinical results for botensilimab plus balstilimab (BOT+BAL) in treating platinum-refractory ovarian cancer, indicating significant clinical activity in a challenging patient population [1][2][3] Clinical Results - The BOT+BAL combination achieved a 23% overall response rate and a 31% clinical benefit rate, with a median duration of response of 9.7 months and a median overall survival of 14.8 months, with 75% of patients alive at 12 months [3][4] - The study involved 44 women with treatment-refractory ovarian cancer, with nearly 75% being platinum-resistant or platinum-refractory, demonstrating activity across various ovarian cancer subtypes [8] Unmet Medical Need - Ovarian cancer results in approximately 13,000 deaths annually in the U.S. and 200,000 globally, with poor outcomes for patients with platinum-resistant tumors, highlighting the urgent need for effective therapies [5] Safety Profile - The BOT+BAL combination exhibited a manageable safety profile, with common treatment-related adverse events including diarrhea/colitis (43%; 16% grade 3), fatigue, and nausea (36%), all effectively managed [8] Future Development - BOT+BAL is advancing through global clinical development for multiple tumor types, with access available through regulatory-authorized early access mechanisms in certain countries [9]

Core Insights - Agenus Inc. has appointed José Iglesias, M.D. as Chief Medical Affairs Officer, effective November 10, 2025 [1] - Dr. Iglesias will oversee global medical affairs for botensilimab (BOT) and balstilimab (BAL) as they progress through Phase 3 evaluation [1] - The combination of BOT and BAL will be made available in selected countries through early-access mechanisms, including France's Autorisation d'Accès Compassionnel [1]