Agenus Reports Q2 2025 Financials, Secures $91M, and Plans Phase 3 Trial for BOT/BAL Therapy.

Agenus reported Q2 2025 financial results with decreased net losses compared to 2024. The company plans to initiate a Phase 3 trial for its BOT/BAL therapy in Q4 2025 and secured a $91 million capital infusion through its collaboration with Zydus Lifesciences. Agenus aims to launch its global BATTMAN trial successfully with the expected capital from Zydus and strategic advancements.

Agenus Inc. ("Agenus" or the "Company") (Nasdaq: AGEN) has reported its financial results for the second quarter of 2025, showcasing a significant improvement in its financial position compared to the same period last year. The company announced a net loss of $56.4 million for Q2 YTD 2025, down from $118.3 million in Q2 YTD 2024, marking a substantial reduction in net losses [1].

Agenus also highlighted several key clinical and strategic milestones that are expected to drive its growth in the coming quarters. The company secured regulatory alignment for the initiation of its Phase 3 trial, BATTMAN, which is expected to commence in Q4 2025. This trial will assess the efficacy of the BOT/BAL combination therapy in refractory MSS CRC [1].

In addition to its clinical advancements, Agenus has also made significant progress in its strategic partnerships. The company has entered into a collaboration with Zydus Lifesciences, which is expected to close in Q3 2025. This collaboration will deliver a $91 million capital infusion to support the development and regulatory activities of the BOT/BAL therapy [1].

The financial results also indicate that Agenus has been prudent in its cost management, with cash used in operations decreasing to $45.8 million for Q2 YTD 2025 from $76.4 million for Q2 YTD 2024 [1]. This reduction in cash burn is expected to continue into the second half of 2025.

Looking ahead, Agenus anticipates several significant milestones in the second half of 2025, including the initiation of the BATTMAN Phase 3 trial, the generation of significant clinical data, and the presentation of new BOT/BAL clinical results at major oncology congresses [1].

Agenus is well-positioned to execute its clinical and regulatory objectives with the expected capital from Zydus and strategic advancements in its clinical pipeline. The company is also in active negotiations for additional funding streams from partnerships currently under negotiation and the commercial prospects of BOT/BAL in geographies beyond North America, Europe, and Japan [1].

The Company will host a webcast and Stakeholder Briefing on August 27, 2025, to review Q2 financial results, anticipated data milestones, and the global BOT/BAL development program [1].

References:
[1] https://investor.agenusbio.com/news/news-details/2025/Agenus-Announces-Second-Quarter-2025-Financial-Results-and-Virtual-Meeting-to-Discuss-Strategic-Progress/default.aspx