The Zhitong Finance App learned that on Monday, AGEN.US (AGEN.US) surged more than 130% in early trading to a two-year high, and is now at $7.63. According to the news, the company announced today that it has signed a share purchase agreement to obtain an initial capital of about 85 million US dollars (before deducting private placement fees) through a private placement, and up to an additional 255 million US dollars after the share purchase rights are fully exercised. The financing was led by Commodore Capital, with RA Capital Management, TCGX, Inbus, and Ligand Pharmaceuticals participating.

The net proceeds from this financing are expected to support Agenus' strategic priority promotion of Botensilimab and balstilimab (BOT+BAL) in the new adjuvant treatment of microsatellite-stabilized (MSS) colon cancer, including advancing the ROBBIN1 trial, which is a registered phase III clinical trial of a new adjuvant treatment for microsatellite-stable (MSS) colon cancer. In the US, high-risk stage II and stage III MSS colon cancer affects about 38,000 patients each year, and the number of patients worldwide exceeds 200,000. This represents more than $7 billion in accessible annual sales opportunities in the US, and no new curative treatments have been approved for more than 20 years.

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