Agenus Inc. entered into a Securities Purchase Agreement on July 13, 2026, for a private placement expected to close on July 15, 2026. The offering involves the issuance of 23,035,227 shares of common stock (or pre-funded warrants), along with Series A and Series B warrants, for expected aggregate gross proceeds of approximately $85 million. The company anticipates up to $255 million in additional gross proceeds upon full warrant exercise. Agenus will also expand its board of directors to nine members to include two individuals designated by Commodore Capital Master LP. Strategically, the company is prioritizing the development of its botensilimab and balstilimab combination for neoadjuvant treatment of MSS colon cancer via the Phase 3 ROBBIN trial, while discontinuing financial support for the BATTMAN Phase 3 study. Agenus is a biotechnology company developing immuno-oncology therapies.
