Agenus prices oversubscribed private placement raising USD 85 million upfront, up to USD 340 million with warrants
AGEN•Use of proceeds and program changes
Proceeds are earmarked for the planned registrational Phase 3 ROBBIN trial of neoadjuvant BOT+BAL in MSS colon cancer, with runway through 2031 on full exercise.
The program shift includes ending financial support for the BATTMAN Phase 3 study in late-line metastatic MSS colorectal cancer.
Private placement terms and potential proceeds
Agenus priced an oversubscribed private placement for USD 85 million upfront gross proceeds, with potential total gross proceeds up to USD 340 million.
The deal includes 23,035,227 common shares or pre-funded warrants, with Series A warrants for 21,144,277 shares at USD 4.02.
Series B warrants cover 33,797,214 shares at USD 5.03, exercisable immediately, adding up to USD 255 million if fully exercised.
