SHAREHOLDER ACTION REMINDER: Faruqi & Faruqi, LLP Investigates Claims on Behalf of Investors of Agenus

PR Newswire · 10/14 14:10

Faruqi & Faruqi, LLP Securities Litigation Partner James (Josh) Wilson Encourages Investors Who Suffered Losses Exceeding $50,000 In Agenus To Contact Him Directly To Discuss Their Options

If you suffered losses exceeding $50,000 in Agenus between January 23, 2023 and July 17, 2024 and would like to discuss your legal rights, call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310).

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NEW YORK, Oct. 14, 2024 /PRNewswire/ -- Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against Agenus Inc. ("Agenus" or the "Company") (NASDAQ: AGEN) and reminds investors of the November 5, 2024 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.

Faruqi & Faruqi is a leading national securities law firm with offices in New York, Pennsylvania, California and Georgia. The firm has recovered hundreds of millions of dollars for investors since its founding in 1995. See www.faruqilaw.com.

As detailed below, the complaint alleges that the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failing to disclose that: (1) the combination therapy of botensilimab and balstilimab was less effective than Defendants had led investors to believe; (2) accordingly, botensilimab and balstilimab's clinical results, as well as their regulatory and commercial prospects, were overstated; and (3) as a result, the Company's public statements were materially false and misleading at all relevant times.

On July 18, 2024, Agenus issued a press release announcing the results of an "end-of-Phase 2 meeting with the U.S. Food and Drug Administration (FDA), for the advancement of its immunotherapy combination, botensilimab and balstilimab, for the treatment of adult patients with relapsed/refractory microsatellite stable colorectal cancer with no active liver metastases." The press release revealed that the "FDA advised against submission of these results in support of an Accelerated Approval based on their view that objective response rates may not translate to survival benefit."

On this news, Agenus's stock price fell $10.43 per share, or 58.83%, to close at $7.30 per share on July 18, 2024.

The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff or not.

Faruqi & Faruqi, LLP also encourages anyone with information regarding Agenus' conduct to contact the firm, including whistleblowers, former employees, shareholders and others.

To learn more about the Agenus class action, go to www.faruqilaw.com/AGEN or call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310).

Attorney Advertising. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP (www.faruqilaw.com). Prior results do not guarantee or predict a similar outcome with respect to any future matter. We welcome the opportunity to discuss your particular case. All communications will be treated in a confidential manner.

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SOURCE Faruqi & Faruqi, LLP