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Hehehe! They going to fudge the results at today’s conference?
$Agenus (AGEN.US)$ Agenus Sued by Shareholder for Misleading Investors Over Colorectal Cancer Immuno-Therapy Trial Results
MT Newswires· 10 mins ago
Agenus (AGEN) is being accused of misleading investors in public comments about a combination of two prospective treatments for cancer in a new shareholder suit filed last week in federal court in Massachusetts.
The Boston-area biotech company has been working to develop several new immunotherapies, including its botensilimab and balstilimab monoclonical antibodies, which it combined to measure their potential to treat certain forms of colorectal cancer. It issued interim data from phase 2 testing on July 18 but also said US regulators recommended against Agenus seeking accelerated approval for the drug combination because objective response rates reported during the mid-stage study may not translate to survival benefit.
Agenus shares plunged almost 59% immediately after the company's July announcement.
The combination of botensilimab and balstilimab "was less effective than (the) defendants had been led investors to believe," the plaintiffs said in their complaint, and that, accordingly, "their regulatory and commercial prospects were overstated."
Agenus didn't immediately respond to a request for comment from MT Newswires.
MT Newswires· 10 mins ago
Agenus (AGEN) is being accused of misleading investors in public comments about a combination of two prospective treatments for cancer in a new shareholder suit filed last week in federal court in Massachusetts.
The Boston-area biotech company has been working to develop several new immunotherapies, including its botensilimab and balstilimab monoclonical antibodies, which it combined to measure their potential to treat certain forms of colorectal cancer. It issued interim data from phase 2 testing on July 18 but also said US regulators recommended against Agenus seeking accelerated approval for the drug combination because objective response rates reported during the mid-stage study may not translate to survival benefit.
Agenus shares plunged almost 59% immediately after the company's July announcement.
The combination of botensilimab and balstilimab "was less effective than (the) defendants had been led investors to believe," the plaintiffs said in their complaint, and that, accordingly, "their regulatory and commercial prospects were overstated."
Agenus didn't immediately respond to a request for comment from MT Newswires.
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Lnova : wow
Jaguar8 : I read their press release and for me the data was very specific and they even mentioned FDA advised against accelerated approval and with inclusion of BOT in P3 arm study. “Being led to believe “ is a matter of data appreciation and perception for me
Trytosaveabit OP Jaguar8 : Well it sure looks like at least a few didn’t like how they presented the data back in July? Hehehe
Jaguar8 Trytosaveabit OP : Agreed. Or likely these people bet huge and didn’t scale in and out and hoped for the moon and left losing or bagholding![[undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36 "undefined")