Emily Bodnar, an analyst from H.C. Wainwright, maintained the Buy rating on Agenus. The associated price target remains the same with $23.00.
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Emily Bodnar’s rating is based on the promising clinical trial results for Agenus’s botensilimab and balstilimab combination therapy. The Phase 1b trial demonstrated a significant median overall survival of 17.2 months in a late-line patient population, which is notably higher than the typical median overall survival of less than 12 months for such patients. Additionally, the trial showed a 39% two-year survival rate, indicating long-term efficacy across multiple solid tumor types.
Furthermore, the safety profile of the 1 mg/kg dose of botensilimab was favorable, with fewer severe adverse events compared to the higher dose. The trial also revealed that patients experiencing immune-mediated adverse events had better survival outcomes, highlighting the mechanism of action of the therapy. These factors suggest that the botensilimab and balstilimab combination could offer durable efficacy and a favorable risk-benefit profile, supporting the Buy rating for Agenus’s stock.