Gainey McKenna & Egleston Announces A Class Action Lawsuit Has Been Filed Against Agenus, ...

NEW YORK, Sept. 09, 2024 (GLOBE NEWSWIRE) -- Gainey McKenna & Egleston announces that a securities class action lawsuit has been filed in the United States District Court for the District of Massachusetts on behalf of all persons or entities who purchased or otherwise acquired Agenus Inc. (NASDAQ: AGEN) securities between January 23, 2023 and July 17, 2024, inclusive (the “Class Period”). The lawsuit seeks to recover damages for the Company’s investors under the federal securities laws.

The Complaint alleges that Defendants made false and/or misleading statements and/or failed to disclose that: (1) the combination therapy of botensilimab and balstilimab was less effective than Defendants had led investors to believe; and (2) accordingly, botensilimab and balstilimab’s clinical results, as well as their regulatory and commercial products, were overstated. The Complaint 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%.

Investors who purchased or otherwise acquired shares of Agenus should contact the Firm prior to the November 5, 2024 lead plaintiff motion deadline. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to discuss your rights or interests regarding this class action, please contact Thomas J. McKenna, Esq. or Gregory M. Egleston, Esq. of Gainey McKenna & Egleston at (212) 983-1300, or via e-mail at  tjmckenna@gme-law.com or gegleston@gme-law.com.

Please visit our website at http://www.gme-law.com for more information about the firm.