The following is a summary of the Agenus Inc. (AGEN) Q3 2024 Earnings Call Transcript:

Financial Performance:

• Agenus ended Q3 2024 with a consolidated cash balance of $44.8 million, a decrease from $76.1 million as of December 31, 2023.

• Cash used in operations was reduced to $129.7 million for the first nine months of 2024, down from $183.8 million in the same period of 2023.

• Net loss for Q3 and first nine months of 2024 was $67 million and $186 million, respectively.

Business Progress:

• Agenus is advancing BOT/BAL, a promising cancer treatment, with ongoing trials in Italy and the Netherlands, building on groundbreaking results in MSS colorectal cancer.

• Strategic efforts include internalizing functions to cut costs, monetizing real estate assets, and discussions on strategic transactions to drive long-term growth.

Opportunities:

• The market reception and clinical data for BOT/BAL is driving significant interest, focusing on areas historically resistant to immunotherapy, such as MSS colorectal cancer.

• Monetization of real estate and strategic partnership discussions are underway to secure funding, aiming to support the company's initiatives and long-term success.

Risks:

• The financial constraints are significant, with a need for substantial resources to continue development.

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