Agenus Top Brass Sued Over FDA Response to Cancer Drug Trial

Executives and directors of Agenus Inc. misled the public about the results of clinical trials for the biotech’s cancer treatment, breaching their fiduciary duties to the company and its investors, according to a shareholder derivative suit.

The alleged false and misleading statements concerned a combination therapy to treat metastatic colorectal cancer, which Agenus’ leadership touted as having strong regulatory and commercial prospects until the company disclosed issues the Food and Drug Administration had with the treatment.

In a July 18 press release, Agenus announced the FDA had advised against submitting the results of the company’s trial for its combination botensilimab ...