Last Friday, (NASDAQ: AGEN), an immuno-oncology player, saw its shares soar by a staggering 40.8%. This remarkable rally occurred seemingly without a clear catalyst. The company is set to announce its first-quarter earnings for 2024 before the market opens on Tuesday, May 7. However, there's no certainty that the company will release any information that justifies this significant surge in its shares.

So, what's causing all the excitement? Investors seem to believe that the company is approaching a significant turning point. This could be due to its promising anti-cancer combination of the checkpoint inhibitors botensilimab (BOT) and balstilimab (BAL). Agenus intends to apply for approval of this combination for use in later-line metastatic microsatellite stable (MSS) colorectal cancer (CRC) without active liver metastases by mid-year.

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Source Fool.com