Agenus(AGEN)2025-05-12 11:32Financial Performance - Agenus reported Q1 2025 revenue of $24.1 million, a decrease of 13.6% from $28.0 million in Q1 2024[10] - The net loss for Q1 2025 was $26.4 million, or $1.03 per share, compared to a net loss of $63.5 million, or $3.04 per share in Q1 2024[10] - Cash used in operations decreased to $25.6 million in Q1 2025 from $38.2 million in the same period of 2024, reflecting a reduction of 32.9%[9] - Agenus ended Q1 2025 with a cash balance of $18.5 million, down from $40.4 million at the end of 2024[9] Clinical Developments - The BOT/BAL combination demonstrated breakthrough response rates in microsatellite stable (MSS) cancers, showing potential in previously hard-to-treat tumors[5] - 100% of dMMR CRC patients given a higher dose of BOT/BAL achieved pathological complete response (pCR)[12] - New data from the NEOASIS study indicated that BOT/BAL can induce pathological responses in various solid tumors beyond colorectal cancer[6] Strategic Initiatives - Agenus is on track to reduce its annualized operating cash burn below $50 million starting in the second half of 2025[8] - Dr. Richard Goldberg joined Agenus as Chief Development Officer to lead the advancement of BOT/BAL towards regulatory engagement[7] - A near-term capital transaction is expected to bolster the company's liquidity significantly[5]