Agenus Inc. Investor Alert: Faruqi & Faruqi, LLP Investigates Potential Securities Law Violations
Faruqi & Faruqi, LLP, a prominent national securities law firm, is currently investigating potential claims against Agenus Inc. (AGEN) concerning alleged misstatements and omissions related to the company’s immunotherapy combination therapy, botensilimab and balstilimab.
The investigation centers around concerns that Agenus and its executives may have misled investors about the effectiveness of the botensilimab and balstilimab combination therapy. The complaint alleges that Agenus failed to disclose that:
* The combination therapy was less effective than what the company represented to investors.
* As a result, the clinical results, regulatory prospects, and commercial viability of botensilimab and balstilimab were overstated.
This alleged misrepresentation led to materially false and misleading statements about the company’s financial performance and future prospects. The investigation is specifically focused on the period between January 23, 2023, and July 17, 2024.
On July 18, 2024, Agenus issued a press release revealing that the U.S. Food and Drug Administration (FDA) had advised against submitting the botensilimab and balstilimab combination therapy’s Phase 2 results for accelerated approval. The FDA’s decision was based on their belief that the observed objective response rates might not translate into a survival benefit for patients. This news resulted in a significant decline in Agenus’s stock price, dropping $10.43 per share, or 58.83%, to close at $7.30 per share on July 18, 2024.
Investor Action:
If you invested in Agenus between January 23, 2023, and July 17, 2024, and suffered losses exceeding $50,000, Faruqi & Faruqi, LLP encourages you to contact the firm directly to discuss your legal options. The firm’s partner, Josh Wilson, can be reached at 877-247-4292 or 212-983-9330 (Ext. 1310). You can also find additional information on their website at www.faruqilaw.com/AGEN.
Lead Plaintiff Deadline:
Investors who meet the criteria for lead plaintiff have until November 5, 2024, to apply for this role in the federal securities class action lawsuit filed against Agenus. The lead plaintiff is responsible for directing and overseeing the litigation on behalf of the class.
About Faruqi & Faruqi, LLP:
Faruqi & Faruqi, LLP is a leading national securities law firm with offices in New York, Pennsylvania, California, and Georgia. The firm has extensive experience representing investors in securities class actions and other complex litigation, recovering hundreds of millions of dollars for investors since its founding in 1995.
Important Information:
This press release constitutes attorney advertising. Past results do not guarantee or predict a similar outcome for any future matter. The information provided herein is not intended to be legal advice, and you should consult with an attorney before making any decisions based on this information. All communications will be treated in a confidential manner.
