Agenus Inc. Class Action Lawsuit - AGEN
Case Summary
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The Agenus class action lawsuit seeks to represent purchasers or acquirers of Agenus Inc. (NASDAQ: AGEN) securities between January 23, 2023 and July 17, 2024, inclusive (the “Class Period”). Captioned Olsen v. Agenus Inc., No. 24-cv-12299 (D. Mass.), the Agenus class action lawsuit charges Agenus and certain of Agenus’ top executives with violations of the Securities Exchange Act of 1934.
If you suffered substantial losses and wish to serve as lead plaintiff of the Agenus class action lawsuit, please provide your information in the form on this page. You can also contact attorney J.C. Sanchez or Jennifer N. Caringal of Robbins Geller by calling 800/449-4900 or via e-mail at info@rgrdlaw.com. Lead plaintiff motions for the Agenus class action lawsuit must be filed with the court no later than November 5, 2024.
CASE ALLEGATIONS: Agenus is a clinical-stage biotechnology company that discovers and develops immuno-oncology products. According to the Agenus class action lawsuit, among other product candidates, Agenus is developing balstilimab, an anti-PD-1 antagonist that has completed a Phase 2 clinical trial to treat second line cervical cancer; and botensilimab (AGEN1181), an antigen 4 (CTLA-4) blocking antibody that is in a Phase 2 clinical trial for the treatment of pancreatic cancer and melanoma.
The Agenus class action lawsuit alleges that defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (i) the combination therapy of botensilimab and balstilimab was less effective than defendants had led investors to believe; and (ii) accordingly, botensilimab and balstilimab’s clinical results, as well as their regulatory and commercial products, were overstated.
The Agenus class action lawsuit further alleges that on July 18, 2024, Agenus announced the results of an “end-of-Phase 2 (EOP2) meeting with the U.S. Food and Drug Administration (FDA), for the advancement of its immunotherapy combination, botensilimab (BOT) and balstilimab (BAL), for the treatment of adult patients with relapsed/refractory microsatellite stable colorectal cancer (r/r MSS CRC) with no active liver metastases (NLM),” revealing that the “FDA advised against submission of these results in support of an Accelerated Approval based on their view that objective response rates may not translate to survival benefit.” On this news, the price of Agenus stock fell nearly 59%, according to the complaint.
THE LEAD PLAINTIFF PROCESS: The Private Securities Litigation Reform Act of 1995 permits any investor who purchased or acquired Agenus securities during the Class Period to seek appointment as lead plaintiff in the Agenus class action lawsuit. A lead plaintiff is generally the movant with the greatest financial interest in the relief sought by the putative class who is also typical and adequate of the putative class. A lead plaintiff acts on behalf of all other class members in directing the Agenus class action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the Agenus class action lawsuit. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff of the Agenus class action lawsuit.
ABOUT ROBBINS GELLER: Robbins Geller Rudman & Dowd LLP is one of the world’s leading law firms representing investors in securities fraud cases. Our Firm has been #1 in the ISS Securities Class Action Services rankings for six out of the last ten years for securing the most monetary relief for investors. We recovered $6.6 billion for investors in securities-related class action cases – over $2.2 billion more than any other law firm in the last four years. With 200 lawyers in 10 offices, Robbins Geller is one of the largest plaintiffs’ firms in the world and the Firm’s attorneys have obtained many of the largest securities class action recoveries in history, including the largest securities class action recovery ever – $7.2 billion – in In re Enron Corp. Sec. Litig.