Agenus Inc. reported financial results for the fourth quarter and full year ended December 31, 2025, including $4.2 million in pre-commercial product revenue from BOT+BAL early access programs and a full-year net loss of $3.1 million. Highlights include global expansion of early access programs with over 200 physician inquiries, 42% two-year overall survival in MSS mCRC, initiation of Phase 3 BATTMAN trial, and $91 million upfront from Zydus collaboration.
Key takeaways
$4.2M net revenue recognized in 2025 from France AAC and global paid NPP early access programs for BOT+BAL
Over 200 physician inquiries across 30+ countries for BOT+BAL early access
42% two-year OS and ~21-month median OS in heavily pretreated MSS mCRC patients without liver metastases
BATTMAN Phase 3 registrational trial initiated for refractory MSS mCRC, enrolling ~830 patients across 100+ sites
France AAC expanded to platinum-resistant ovarian cancer and soft-tissue sarcomas alongside MSS mCRC
Zydus collaboration provided $91M upfront capital (net of adjustments) and $20M contingent payment in March 2026