class action lawsuit filed against Agenus Inc. in September 2024

On September 10, 2024, Robbins LLP announced that a class action lawsuit had been filed against Agenus Inc. on behalf of shareholders who acquired the company's securities between January 23, 2023, and July 17, 2024. The lawsuit alleges that Agenus misled investors regarding the effectiveness of its drug candidates, particularly the combination therapy of botensilimab and balstilimab. The complaint claims that the company overstated the clinical results and regulatory prospects of these therapies. The situation escalated on July 18, 2024, when Agenus released a press statement following an end-of-Phase 2 meeting with the FDA. The FDA advised against the submission of results for accelerated approval, stating that the objective response rates may not correlate with survival benefits. This revelation led to a significant drop in Agenus's stock price, which fell by 58.83% in a single day. Shareholders interested in participating in the class action must submit their applications to the court by November 5, 2024. The role of a lead plaintiff is crucial, as this individual will represent the interests of all class members in the litigation process. Importantly, shareholders are not required to actively participate in the case to be eligible for any potential recovery. Robbins LLP, a law firm specializing in shareholder rights litigation, emphasizes that all representation is on a contingency fee basis, meaning shareholders will incur no fees or expenses unless they recover losses. The firm has a history of successfully advocating for shareholders and aims to hold company executives accountable for any wrongdoing.