On June 4, H.C. Wainwright analysts upped Agenus Inc. (NASDAQ:AGEN)’s stock from “Neutral” to “Buy” with the price objective of $25.00, as reported by The Fly.
A research doctor, looking intently at their microscope as they try to decipher the mysteries of immuno-oncology.
This comes after the company entered into a strategic collaboration with Zydus Lifesciences, an Indian multinational pharmaceutical company. The definitive partnership, which has been valued at up to $141 million, is designed to accelerate clinical development, scale global manufacturing, and expand patient access to botensilimab and balstilimab (BOT/BAL).
Agenus Inc. plans to grant Zydus an exclusive license to develop and commercialize BOT and BAL in India and Sri Lanka. This will help capitalize on Zydus’ established local market presence and infrastructure. Considering Agenus Inc.’s commitment to reduce the cash burn and the capital provided from this partnership, H.C. Wainwright opines that Agenus Inc. has enough funding to advance botensilimab and balstilimab through a Phase 3 trial initiating in H2 2025.
By uniting Agenus Inc.’s pioneering R&D capabilities with Zydus’ worldwide manufacturing, commercialization, and operational strength, the partnership is expected to result in a new era in cancer immunotherapy in India and beyond. With a trade agreement between the US and India seemingly imminent, there is renewed confidence by trading partners in both countries, added Agenus Inc.’s CEO.
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