Core Insights - Agenus Inc. announced the presentation of preclinical data for BMS-986442 (AGEN1777) at the AACR Meeting scheduled for April 5-10, 2024, in San Diego, CA [1][4] Group 1: Product Development - BMS-986442 demonstrated superior immune activation in non-clinical assays both as a monotherapy and in combination with PD-(L)1 blockade compared to conventional TIGIT antibodies [2] - This bispecific antibody targets two critical immune checkpoint receptors, TIGIT and CD96, utilizing Agenus' proprietary Fc-engineering platform to enhance its mechanisms of action beyond conventional anti-TIGIT therapies [2][3] - The bispecific antibody is being developed in partnership with Bristol Myers Squibb and is currently under investigation for treating multiple solid tumors in combination with nivolumab and/or chemotherapy [5] Group 2: Presentation Details - The abstract titled "BMS-986442 (AGEN1777), a novel TIGIT/CD96 bispecific antibody, demonstrates superior monotherapy and combination activity versus conventional anti-TIGIT antibodies in preclinical models" will be presented by Dhan Chand on April 8, 2024, from 2:30 p.m. to 4:30 p.m. PST [4]

Core Points - Agenus Inc. announced the granting of inducement awards to three new executives as part of their appointments [1] - The awards are part of Agenus' 2015 Inducement Equity Plan and comply with Nasdaq Listing Rule 5635(c)(4) [1] Summary by Executive - **Nils Eckardt**: Received options to purchase 100,000 shares with a 10-year term, an exercise price based on the closing price on February 1, 2024, and vesting over four years in equal annual installments, along with 50,000 restricted stock units vesting over three years [2] - **Kent Barnes**: Awarded options to purchase 100,000 shares with a 10-year term, an exercise price based on the closing price on April 1, 2024, and vesting over four years in equal annual installments, plus 100,000 restricted stock units vesting over three years [3] - **Brian Greenblatt**: Granted options to purchase 75,000 shares with a 10-year term, an exercise price based on the closing price on April 1, 2024, and vesting over four years in equal annual installments, along with 60,000 restricted stock units vesting over three years [4] Company Overview - Agenus is a leading immuno-oncology company focused on cancer and infectious diseases, with a comprehensive pipeline of immunological agents [5] - The company's mission is to expand patient populations benefiting from cancer immunotherapy through combination approaches, utilizing a broad range of antibody therapeutics, adoptive cell therapies, and adjuvants [5] - Agenus is headquartered in Lexington, MA, and provides information important to investors on its website and social media channels [5]

Core Viewpoint - Agenus Inc. is set to release its fourth quarter and year-end 2023 financial results on March 14, 2024, before market opening, followed by a conference call for discussion [1]. Group 1: Financial Results Announcement - The financial results will be released before the market opens on March 14, 2024 [1]. - A conference call and webcast will take place at 8:30 a.m. ET on the same day to discuss the results and provide a corporate update [1]. Group 2: Company Overview - Agenus is a leader in immuno-oncology, focusing on cancer and infectious diseases with a diverse pipeline of immunological agents [3]. - The company's mission is to enhance patient access to cancer immunotherapy through combination therapies, utilizing a wide range of antibody therapeutics, adoptive cell therapies, and adjuvants [3]. - Agenus is headquartered in Lexington, MA, and provides regular updates on its website and social media channels [3].

Core Viewpoint - Agenus announced a reverse stock split, causing a significant drop in its stock price by nearly 30%, contrasting with the S&P 500's slight gain [1]. Group 1: Reverse Stock Split Details - Agenus plans a reverse stock split at a ratio of 1 for every 20 shares currently held, pending an investor vote on April 3 [2]. - The primary motivation for this move is to raise the company's stock price above the $1 minimum required by Nasdaq, as the current price is approximately $0.65 [2]. Group 2: Investor Sentiment and Company Goals - Investors reacted negatively to the announcement, viewing the reverse stock split as a sign of desperation for a struggling business [3]. - The company aims to use this time to achieve key milestones, including submitting a Biologics License Application for metastatic colorectal cancer and prioritizing other clinical programs [3].

Group 1: Analyst-Backed Stocks Overview - The article discusses stocks that analysts believe have the potential for significant returns, specifically those with a 10-bagger potential [2][10] - It highlights the skepticism retail investors often have towards Wall Street analysts, despite the potential for high returns [1][2] Group 2: Company Summaries - **AST SpaceMobile (ASTS)**: A satellite designer aiming to create a cellular broadband network that connects smartphones to satellites, rated a "buy" with a price target of $23 by Deutsche Bank [3][4] - **Microvast (MVST)**: A battery technology company focused on electric commercial vehicles, facing challenges in the market but rated a strong buy with an $8 price target [5][6] - **Pixelworks (PXLW)**: Provides video processing semiconductors, currently facing bearish sentiment but analysts have a price target of $14 [7][8] - **Quantum Computing (QUBT)**: Specializes in quantum computing technology, with a price target of $8.75, representing a compelling investment opportunity [9][10] - **Agenus (AGEN)**: A biotech firm focused on immunotherapy, with a large addressable market projected to grow to $200.55 billion by 2030, rated a strong buy with a $6.67 price target [11][12] - **Passage Bio (PASG)**: Focuses on genetic medicines for neurodegenerative diseases, with a market projected to reach $77.82 billion by 2029, rated a strong buy with a $10.50 price target [13][14] - **Palatin Technologies (PTN)**: Develops treatments for inflammatory and autoimmune conditions, with a market projected to grow to $141.58 billion by 2030, rated a moderate buy with a $60 target [15][16]

Industry Overview - The biotech sector has experienced a significant rally, with the SPDR S&P Biotech ETF (XBI) increasing by 31% in the last three months after being mostly down for the past three years [1] - Despite the rally, the monetary and regulatory environment remains challenging for biotech stocks [1] - Long-term investment is essential in biotech, as it can take years for drug candidates to receive FDA approval after entering clinical trials [1] Company Highlights Eli Lilly and Company (LLY) - Eli Lilly was one of the top-performing biotech stocks in 2023, with a rise of over 70% [3] - The anticipated approval of the obesity drug Zepbound in November 2023 is a key catalyst for the company's performance [3] - The company is also focused on donanemab, a clinical-stage drug for Alzheimer's disease, with an FDA decision expected in early 2024 [3][4] - LLY has a forward price-to-earnings (P/E) ratio of approximately 97x, indicating it is expensive relative to historical values, but is projected to have earnings growth of 91% in the next 12 months [4] Amylyx (AMLX) - Amylyx transitioned from a clinical-stage to a commercial-stage company after receiving FDA approval for Relyvrio, its treatment for ALS [6] - The company has reported three profitable quarters and anticipates a 79% increase in earnings over the next year [6] - Despite this, AMLX stock has decreased by 64% in the past year, potentially due to heavy short interest and concerns over slowing revenue growth [6] - Upcoming Phase 3 trial results from the PHOENIX clinical trial may provide additional data to support approval by the European Medicines Agency (EMA) [6] Agenus (AGEN) - Agenus is a clinical-stage company focused on developing cancer immunotherapies [7] - The company is working on a Biologics License Application (BLA) for accelerated approval of its lead candidate, botensilimab, targeting HER-positive metastatic colorectal cancer [7] - Although Agenus is a penny stock and not widely covered by analysts, four out of five analysts have rated it as a Strong Buy [8]

Core Insights - Agenus Inc. has reported promising results from the NEST-1 study, showcasing the potential of the BOT/BAL combination in treating colorectal cancer (CRC) [1][4] - The company is positioned for significant growth in the neoadjuvant setting, particularly for metastatic microsatellite stable (MSS) CRC patients, which represent a large portion of CRC cases [5][9] - Despite current trading pressures, Agenus is viewed as a speculative investment opportunity due to its innovative pipeline and potential market impact [1][20] Company Background - Agenus is focused on immunological cancer treatments, with a diverse pipeline that includes 9 clinical assets and over 20 ongoing studies [1] - The company's platform technology centers around the botensilimab (BOT) antibody, which enhances anti-tumor immune responses [2] - Agenus has established strategic partnerships that could yield up to $2.5 billion in milestone payments and significant royalties [3] NEST-1 Study Results - The NEST-1 study demonstrated that 67.5% of MSS CRC patients experienced at least 50% tumor shrinkage, a notable achievement given the typical resistance of these patients to immune-oncology therapies [4] - The study also reported a 100% elimination rate of circulating tumor DNA (ctDNA) in tested patients, indicating a strong potential for long-term disease-free survival [4] Market Opportunity - MSS CRC accounts for 85% of all CRC cases, suggesting a substantial market for the BOT/BAL neoadjuvant therapy [5] - The planned Biologics License Application (BLA) filing in mid-2024 is a critical step for Agenus, potentially marking its transition into a commercial entity [5][9] Future Developments - Agenus aims to expand its applications beyond CRC, with plans for supplemental BLA filings in pancreatic cancer, melanoma, and non-small cell lung cancer (NSCLC) [6] - The company is also exploring the BOT+BAL combination in various cancer types, showing promising results in ovarian cancer and sarcomas [6][7] Financial Outlook - Agenus is projected to experience strong double-digit growth, with expectations to approach $1 billion in annual revenue by 2030 [11] - The company is currently trading at a discount relative to its potential revenue, with a forward price-to-sales ratio significantly below industry averages [15] Upcoming Catalysts - Key upcoming milestones include Phase 2 data updates and the anticipated BLA filing, which could significantly impact the company's growth trajectory [10][11]

Core Insights - Agenus Inc. announced results from the NEST-1 study, evaluating the combination of botensilimab and balstilimab for colorectal cancer treatment, presented by Dr. Pashtoon Kasi at the ASCO-GI conference [1][2] Study Highlights - Treatment involved a single dose of botensilimab (BOT) and two doses of balstilimab (BAL) administered between diagnosis and surgery, approximately over four weeks [3] - In the Microsatellite Stable (MSS) CRC cohort, 67.5% of patients experienced tumor shrinkage of ≥50%, while 100% of patients in the Microsatellite Instability-High (MSI-H) CRC cohort showed similar results [3] - The treatment did not delay surgical procedures, with only two instances of Grade 3 Treatment-Related Adverse Events (TRAEs) reported [3] - The study demonstrated that BOT/BAL eliminated circulating tumor DNA (ctDNA) in 100% of tested patients, which is associated with long-term Disease-Free Survival (DFS) [3] - An independent observational study indicated that patients who remained ctDNA negative post-treatment had better 2-year DFS rates compared to ctDNA-positive patients [3] Expert Commentary - Dr. Steven O'Day, Chief Medical Officer of Agenus, highlighted the remarkable results of the NEST-1 trial, noting significant tumor regression and immune cell infiltration in a short time frame, particularly in the MSS CRC cohort, which constitutes 90% of all CRC cases [4] About Botensilimab - Botensilimab is an investigational multifunctional anti-CTLA-4 immune activator designed to enhance both innate and adaptive anti-tumor immune responses, particularly in "cold" tumors that typically respond poorly to standard therapies [5] Clinical Development - Approximately 750 patients have been treated with botensilimab in phase 1 and phase 2 clinical trials, showing clinical responses across nine metastatic, late-line cancers [6] Company Overview - Agenus is a leading immuno-oncology company focused on cancer and infectious diseases, with a comprehensive pipeline of immunological agents aimed at expanding patient populations benefiting from cancer immunotherapy [7]

Core Insights - iTeos Therapeutics is preparing to report results from multiple clinical programs in 2024, focusing on two validated protein targets for cancer treatment, namely TIGIT and the adenosine pathway [2][9] - The company is advancing belrestotug (EOS-448) targeting the TIGIT protein and inupadenant (EOS-850) targeting the adenosine pathway, with the aim of enhancing drug potency against advanced solid tumors [2][9] Pipeline Developments - Two key phase 2 studies involving belrestotug in combination with dostarlimab are set to report in 2024, targeting non-small cell lung cancer (NSCLC) and head and neck squamous cell carcinoma (HNSCC) [3][9] - The GALAXIES Lung-201 study will focus on 1st-line advanced/metastatic NSCLC patients, while the TIG-006 study will assess the combination in 1st-line PD-L1 positive advanced or metastatic HNSCC patients [3][5] Market Potential - The global NSCLC market is projected to reach $36.9 billion by 2031, while the head and neck cancer drugs market is expected to surpass $3.9 billion by 2030 [3][5] - The studies will target specific patient populations, including those with high PD-L1 expression, which could enhance market opportunities despite competition [3][5] Competitive Landscape - iTeos faces competition from several companies developing anti-TIGIT therapies, including Beigene, Novartis, and Merck, among others [5] - The differentiation of belrestotug lies in its unique design and binding properties, which may provide a competitive edge over existing therapies [5][9] Financial Position - As of September 30, 2023, iTeos Therapeutics reported cash and cash equivalents of $644.9 million, sufficient to fund operations through 2026 and support multiple phase 3 studies [6] - The company has a Sales Agreement with Cowen for an aggregate offering price of $125 million, providing a financial cushion if additional funds are needed [6]

Core Insights - Agenus Inc. is participating in the B. Riley Virtual Healthcare Conference on January 18th, where Dr. Garo Armen will engage in a fireside chat and investor one-on-ones [1] - The fireside chat is scheduled for 3:00 p.m. ET on January 18th, and a replay will be available on the company's website afterward [1] Company Overview - Agenus is a leading immuno-oncology company focused on treating cancer and infectious diseases with a diverse pipeline of immunological agents [2] - The company's mission is to broaden the patient population benefiting from cancer immunotherapy through combination approaches, utilizing a wide range of antibody therapeutics, adoptive cell therapies, and adjuvants [2] - Agenus is headquartered in Lexington, MA, and provides regular updates that may be important to investors via its website and social media channels [2]