Earnings Releases·Nov 5, 2026, 8:00 AM ET

Agenus — Third Quarter 2026 Earnings Summary

Q3 2026 total revenue reached $31.5 million (up from $30.2 million in Q3 2025), driven by $6.0 million in pre-commercial product revenue and $25.5 million in non-cash royalty revenue; YTD operating income turned positive at $37.8 million compared to a $34.6 million loss in 2025.
The company secured approximately $85 million in upfront proceeds from a July private placement, with potential additional proceeds of up to $255 million via warrant exercises, extending financing runway through year-end 2031.
ROBBIN Phase 3 trial enrollment is on track for Q1 2027, with interim pathologic response data anticipated in Q4 2027; Armenia granted the first worldwide marketing authorizations for BOT+BAL, while the U.S. FDA has not yet approved the therapy.
Management confirmed the transition from planning to global site activation for ROBBIN, targeting an estimated $7 billion U.S. total addressable market for MSS colon cancer, with no new safety concerns identified in recent neoadjuvant studies.