Legal Proceedings
−Removed: In September 2024, a putative securities class action lawsuit captioned In re Agenus Inc.
+Added: On May 4, 2026, the U.S.
+Added: Securities and Exchange Commission (the "SEC") informed the Company that it has concluded its investigation as to the Company and does not intend to recommend an enforcement action against the Company.
+Added: The investigation originated in September 2024, when the Company received a subpoena from the Boston Regional Office of the SEC seeking records relating to certain of its product candidates, correspondence with the FDA, public disclosure, and other matters.
+Added: The Company produced records pursuant to the subpoena and cooperated with the SEC throughout the investigation.
+Added: On March 24, 2026, the U.S.
+Added: District Court for the District of Massachusetts (the "Court") granted the Company's motion to dismiss the putative securities class action captioned In re Agenus Inc.
Securities Litigation, No.
−Removed: 1:24-cv-12299, was filed in the U.S.
−Removed: District Court for the District of Massachusetts (the “Court”) against the Company and certain of its executives and directors.
−Removed: The Court appointed a lead plaintiff pursuant to the Private Securities Litigation Reform Act, and the lead plaintiff filed an amended complaint on February 7, 2025.
−Removed: The amended complaint alleges that Agenus, three of its current officers, and one member of its advisory board violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934, as amended, and Rule 10b-5 thereunder, by making false and misleading statements and omissions of material fact related to the efficacy and commercial prospects of botensilimab and balstilimab.
−Removed: The lead plaintiff seeks to represent all persons who purchased or otherwise acquired Agenus securities between January 23, 2023, and July 17, 2024, and seeks damages and interest, and an award of costs, including attorneys’ fees.
−Removed: On April 8, 2025, the Company moved to dismiss the securities class action.
−Removed: On June 6, 2025 plaintiff filed an opposition to the motion to dismiss, and on July 7, 2025, the Company filed its reply brief.
−Removed: As of the date of this filing, the Company’s motion to dismiss is pending before the court.
−Removed: We have not recorded any accrual for a contingent liability associated with these legal proceedings.
−Removed: The Company has been served with four derivative actions filed in the Court between November 2024 and January 2025 by purported stockholders.
−Removed: The actions name certain of the Company’s executives and directors and allege that defendants made false or misleading statements and omissions of material fact related to the efficacy and commercial prospects of botensilimab and balstilimab.
+Added: 1:24-cv-12299, in its entirety, ruling in favor of the Company and the individual defendants, and denied the lead plaintiff's request for leave to amend.
+Added: The action was originally filed in September 2024 against the Company and certain of its executives and directors.
+Added: The amended complaint, filed February 7, 2025 by the court-appointed lead plaintiff, alleged that Agenus, three of its current officers, and one member of its advisory board violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934, as amended, and Rule 10b-5 thereunder, by making false and misleading statements and omissions of material fact related to the efficacy and commercial prospects of botensilimab and balstilimab.
+Added: The lead plaintiff sought to represent all persons who purchased or otherwise acquired Agenus securities between January 23, 2023 and July 17, 2024, and sought damages, interest, and an award of costs including attorneys' fees.
+Added: On April 15, 2026, the lead plaintiff filed a Notice of Appeal to the U.S.
+Added: Court of Appeals for the First Circuit in a case captioned Olsen v.
+Added: Agenus, Inc., et al., No.
+Added: The First Circuit requires the parties to participate in a mandatory settlement conference, which is scheduled for May 26, 2026.
+Added: The Company intends to vigorously defend the District Court's dismissal on appeal.
+Added: The Company has also been served with four derivative actions filed in the Court between November 2024 and January 2025 by purported stockholders.
+Added: These actions name certain of the Company's executives and directors and allege that defendants made false or misleading statements and omissions of material fact related to the efficacy and commercial prospects of botensilimab and balstilimab.
Plaintiffs seek an award of damages and an order directing the Company to reform and improve its corporate governance and internal procedures.
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1:24-cv-12823 and stayed all deadlines pending future developments in the securities class action.
−Removed: In September 2024, the Company received a subpoena from the Boston Regional Office of the U.S.
−Removed: Securities and Exchange Commission (the “SEC”) seeking records relating to certain of our product candidates, correspondence with the FDA, public disclosure, and other matters.
−Removed: We have produced records pursuant to the subpoena.
−Removed: At this time, the Company cannot predict the outcome of the SEC’s investigation.
−Removed: We are not currently a party to any other material legal proceedings.
−Removed: From time to time, we may be subject to various legal proceedings and claims that arise in the ordinary course of our business activities.
−Removed: Regardless of the outcome, litigation can have a material adverse effect on us because of defense and settlement costs, diversion of management resources and other factors.
+Added: The Company is not currently a party to any other material legal proceedings.
+Added: From time to time, the Company may be subject to various legal proceedings and claims that arise in the ordinary course of business.
+Added: Regardless of outcome, litigation can have a material adverse effect on the Company because of defense and settlement costs, diversion of management resources, and other factors..
Ri sk Factors
2 unchanged sentences
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.