LEXINGTON, Mass. - Agenus Inc . (NASDAQ:AGEN), an immuno-oncology company, reported that its novel bispecific antibody BMS-986442, also known as AGEN1777, demonstrated superior immune activation in preclinical models. The findings will be presented at the American Association for Cancer Research (AACR) Meeting in San Diego, CA, on April 8, 2024.
In non-clinical assays, BMS-986442 showed enhanced efficacy both alone and in combination with PD-(L)1 inhibitors compared to traditional TIGIT antibodies. This bispecific antibody targets two immune checkpoint receptors, TIGIT and CD96, and is based on Agenus's proprietary Fc-engineering platform. The approach is designed to overcome the limitations of existing anti-TIGIT therapies in treating advanced solid tumors.
Dr. Dhan Chand, Vice President of Research at Agenus, highlighted the potential of BMS-986442 to address challenges in anti-tumor immunity by targeting complementary pathways and modifying the Fc region of the antibody.
The partnership between Agenus and Bristol Myers (NYSE:BMY) Squibb is developing BMS-986442 for potential use in multiple solid tumor treatments, in clinical studies with nivolumab and/or chemotherapy. The co-inhibition of TIGIT and CD96 aims to restore effector cell function by blocking inhibitory immune checkpoint signaling.
Agenus is focused on expanding the use of cancer immunotherapy through combination treatments, leveraging a broad range of antibody therapeutics, adoptive cell therapies, and adjuvants.
This announcement is based on a press release statement from Agenus Inc.
InvestingPro Insights
As Agenus Inc. (NASDAQ:AGEN) unveils promising preclinical data for its novel bispecific antibody, BMS-986442, at the AACR Meeting, investors and industry observers are closely monitoring the company's financial health and stock performance. Recent data from InvestingPro reveals a mixed financial landscape for Agenus:
- The company's market capitalization stands at 268.46 million USD, reflecting the market's current valuation of the firm.
- Agenus has reported a revenue growth of 12.24% over the last twelve months as of Q3 2023, indicating an uptrend in its sales figures.
- However, the firm's operating income margin for the same period is significantly negative at -211.47%, underscoring the challenges it faces in translating revenue into operational profitability.
InvestingPro Tips suggest that while analysts have revised their earnings upwards for the upcoming period, they do not anticipate Agenus will be profitable this year. Additionally, the company is rapidly depleting its cash reserves and has a valuation that implies a poor free cash flow yield. These factors are crucial for investors to consider, especially those looking for long-term value and stability.
For those interested in a deeper analysis, InvestingPro offers 10 additional tips for Agenus, providing a more comprehensive perspective on the company's financial health and stock performance. Access these insights and more by visiting the dedicated Agenus page on InvestingPro and don't forget to use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.