| Metric | Value ($ M) | Q1 FY25 |
|---|---|---|
| Revenue | 33.74 | 40.2% |
| Total Income | 33.74 | 40.2% |
| Expenditure | 18.68 | 50.0% |
| PBT | — | |
| Net Profit | 39.17 | 254.7% |
| OPM | 44.62% | 99.93pp |
| NPM | 100.00% | |
| EPS | 1.03 | 200.0% |
Agenus Reports Q1 2026 Financial Results and Highlights BOT+BAL Execution
11 May 2026 · 11 May, 6:26 pm
Summary
Agenus Inc. reported financial results for the first quarter ended March 31, 2026. The company highlighted the commencement of patient enrollment in the Phase 3 BATTMAN trial and the closing of the Zydus collaboration, which provided strategic capital and secured U.S. manufacturing capacity. Pre-commercial product revenue reached $4.6 million, and total revenue was $33.7 million. The company is focusing on BOT+BAL development, financial discipline, and commercial readiness.
Key Highlights
- 1
Agenus' Phase 3 BATTMAN trial commenced patient enrollment in April 2026, advancing BOT+BAL into pivotal evaluation.
- 2
The Zydus collaboration closed in January, delivering strategic capital and securing dedicated U.S. biologics manufacturing capacity for Agenus.
- 3
Pre-commercial product revenue was $4.6 million, representing income from BOT+BAL provided under regulatory-authorized early access pathways.
- 4
Cash and cash equivalents totaled $35.0 million as of March 31, 2026, compared with $3.0 million as of December 31, 2025.
- 5
The SEC concluded its investigation in May 2026 with no enforcement action recommended, and a related securities class action was dismissed in March 2026.
- 6
Total revenue reached $33.7 million in Q1 2026, compared to $24.1 million in Q1 2025.
- 7
Agenus continues to align operating priorities around BOT+BAL, financial discipline and commercial readiness.
Management Comments
Garo H. Armen
"First quarter 2026 was a defining quarter for Agenus and for BOT and BAL," said Garo H. Armen, Ph.D., Chairman and Chief Executive Officer of Agenus. "We saw continued physician requests and engagement treating patients with BOT and BAL through regulatory-authorized access pathways. Additionally, we advanced the program into Phase 3 enrollment and closed a transformative collaboration with Zydus that secured both capital and U.S. manufacturing capacity. BOT+BAL’s maturing data, particularly the durability of survival outcomes in refractory MSS colorectal cancer, continue to underpin our regulatory submissions in the United States and Europe."
Informational and educational content only. Not investment advice.