Here's Why Agenus Inc. Stock Slipped 13.6% in July

Here's Why Agenus Inc. Stock Slipped 13.6% in July

Shares of Agenus Inc. (NASDAQ: AGEN), a clinical-stage immuno-oncology company, fell 13.6% in July according to data from S&P Global Market Intelligence. Investors viewed a clinical-trial failure reported by AstraZeneca as a harbinger of sorrow for similar candidates in its own pipeline.

Aside from an adjuvant featured in GlaxoSmithKline's shingles-vaccine candidate, Agenus Inc.'s future hinges on success for new drug candidates that inhibit a cancer cell's ability to exploit the CTLA-4 and PD-1 immune-response checkpoints. This is why the market beat up Agenus when AstraZeneca reported its combination of tremelimumab, which blocks CTLA-4, and Imfinzi, which blocks PD-1, failed to provide a significant survival benefit compared to standard chemotherapy for previously untreated patients with stage-four lung cancer.

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Source: Fool.com