AGEN INVESTOR ALERT: Edelson Lechtzin LLP Urges Agenus, Inc. (NASDAQ: AGEN) Shareholders to Seek Legal Counsel About the Pending Securities Fraud Class Action
NEWTOWN, Pa., Sept. 11, 2024 /PRNewswire/ -- Edelson Lechtzin LLP, a leading class action law firm, is investigating securities fraud claims on behalf of all investors of Agenus, Inc. ("Agenus") (NASDAQ: AGEN) between January 23, 2023, and July 17, 2024, inclusive (the "Class Period").
Investors who purchased Agenus stock may move the U.S. District Court for the District of Massachusetts to appoint them as lead plaintiff, no later than November 5, 2024. Please contact Edelson Lechtzin LLP to discuss your investment losses at 844-696-7492, or by e-mail at [email protected]. A copy of the Complaint can be found HERE.
Background on Agenus, Inc.
Agenus is a biotechnology company headquartered in Lexington, Massachusetts that is involved in the discovery of immune-oncology ("I-O") products. One of its product candidates, balstilimab, is being tested for treating second-line cervical cancer. Another product, botensilimab, is being tested for treating pancreatic cancer and melanoma. Agenus also is focused on a combination of botensilimab and balstilimab as a potential treatment for metastatic colorectal cancer.
The Securities Fraud Claims
The Complaint alleges that during the Class Period, Defendants made materially false and misleading statements regarding the Agenus's business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (i) the combination therapy of botensilimab and balstilimab was less effective than Defendants had led investors to believe; and (ii) accordingly, botensilimab and balstilimab's clinical results, as well as their regulatory and commercial prospects, were overstated.
On July 18, 2024, Agenus issued a statement about its meeting with the U.S. Food and Drug Administration regarding the progress of its treatment for adults with a specific type of colorectal cancer. The FDA recommended not submitting the results for accelerated approval because they believed that the response rates observed may not lead to improved survival. 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.
For more information, please contact:
Marc H. Edelson, Esq.
Eric Lechtzin, Esq.
EDELSON LECHTZIN LLP
411 S. State Street, Suite N-300
Newtown, PA 18940
Phone: 844-696-7492 or 215-867-2399 ext. 1
Email: [email protected]
Email: [email protected]
Web: www.edelson-law.com
Edelson Lechtzin LLP is a leading class action law firm with offices in Pennsylvania and California. In addition to cases involving securities and investment fraud, our lawyers focus on class and collective litigation in cases alleging violations of the federal antitrust laws, employee benefit plans under ERISA, wage theft and unpaid overtime, consumer fraud, and dangerous and defective drugs and medical devices.
This press release may be considered Attorney Advertising in some jurisdictions. No class has been certified in this case, so you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. Your ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.
SOURCE Edelson Lechtzin LLP
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