Agenus Secures $22 Million Mortgage and Announces Strategic Operational Realignment [Yahoo! Finance]
Agenus Inc. (AGEN)
Last agenus inc. earnings: 3/12 07:30 am
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Source: Yahoo! Finance
innovation has successfully secured a $22 million non-amortizing mortgage backed by its Berkeley-based Biologics CMC facility ("901 Heinz") and its 66-acre biomanufacturing-zoned property in Vacaville, California. Facilitated by L&L Capital, the transaction yields $20 million in net proceeds after closing costs and interest reserve, bolstering the company's cash position ahead of anticipated additional cash infusions in the coming months. The mortgage, structured with a two-year term, carries interest payable in a 50% cash and 50% common stock arrangement, with rates set at 12% for Year 1 and 13% for Year 2. Simultaneously, Agenus is executing a Strategic Operational Realignment Plan to sharpen its focus on botensilimab/balstilimab (BOT/BAL) in MSS colorectal cancer (CRC), while driving significant cost reductions. Key components of the plan include: A projected 60% reduction in annual external expenditures. Transitioning Agenus' CMC capabilities into a fee-for-service biologics
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AGEN
News
- Agenus Announces Five Presentations at ASCO GI Highlighting BOT/BAL Activity Across Colorectal and Gastric Cancers [Yahoo! Finance]Yahoo! Finance
- Agenus Announces Five Presentations at ASCO GI Highlighting BOT/BAL Activity Across Colorectal and Gastric CancersBusiness Wire
- Vaccine Adjuvants Market to Hit USD 0.96 Billion by 2029 with 6.5% CAGR | MarketsandMarkets™ [Yahoo! Finance]Yahoo! Finance
- Tanner Pharma Expands Global Access to Botensilimab and Balstilimab Through Partnership With Agenus [Yahoo! Finance]Yahoo! Finance
- Agenus Inc. (NASDAQ: AGEN) had its "neutral" rating re-affirmed by analysts at HC Wainwright.MarketBeat
AGEN
Earnings
- 11/12/24 - Miss
AGEN
Sec Filings
- 12/16/24 - Form 4
- 12/5/24 - Form 8-K
- 12/3/24 - Form 4
- AGEN's page on the SEC website