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AGEN.US
id: 1335

Agenus (AGEN) Misleading Statements Case

D. Massachusetts
Court
1:24-CV-12299
Case number
01/23/2023
Class period Start
07/17/2024
Class period End
11/08/2024
Lead Plaintiff motion deadline
  • $AGEN stockholders filed a claim against Agenus for misleading them about the potential success of its cancer immunotherapy trials.
  • After the FDA meeting results on July 18, 2024, $AGEN dropped by 58.83%.
  • Agenus investors can join this case to be notified about potential recovery.
Case Details:

On January 23, 2023, Agenus issued statements announcing positive data from its botensilimab and balstilimab combination therapy trials for colorectal cancer, leading investors to believe the treatment had strong potential for FDA approval and commercial success.

However, on July 18, 2024, Agenus announced the results of an FDA meeting in which the agency advised against pursuing accelerated approval of the therapy due to concerns that the trial’s results may not translate into a survival benefit. Following this announcement, Agenus' stock dropped by 58.83%, causing significant losses for investors who had relied on the company's optimistic forecasts.

Based on these events, an investor filed a lawsuit against Agenus, alleging:
  • The company misrepresented the potential success of its immunotherapy drug.
  • Agenus failed to disclose critical information regarding the challenges faced during the trial.
  • These misstatements caused investors to suffer financial losses when the truth was revealed.
A group of investors has already filed a class action suit in the District Court of Massachusetts.
Case Status
Lead Plaintiff Appointed
Alleged Offence
Misleading Statements
Financial Misrepresentation
Fraud
Failure to Disclose
Suspected Party
Directors
Management
Security Type
Stocks
Trade Direction
Long
Shock Event Date
07/18/2024
Filing date
09/06/2024
Lead Plaintiff Deadline
11/08/2024
Judge
Hon. Angel Kelley
Collecting participants…

Agenus Inc

Agenus Inc., a clinical-stage biotechnology company, discovers and develops immuno-oncology products in the United States and internationally. The company offers Retrocyte Display, an antibody expr...

    Ticker
    AGEN.US
    ISIN
    US00847G8042
    CIK
    1098972
    Sector
    Healthcare
    Industry
    Biotechnology
    Country
    USA
    Address
    3 Forbes Road, Lexington, MA, United States, 02421-7305