Agenus (AGEN) 10-Q 10 Aug 20 2020 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2020	Aug. 03, 2020
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2020
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2020
Entity Registrant Name	AGENUS INC
Entity Central Index Key	0001098972
Entity Current Reporting Status	Yes
Trading Symbol	AGEN
Security Exchange Name	NASDAQ
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Entity Shell Company	false
Entity Small Business	false
Entity Emerging Growth Company	false
Title of 12(b) Security	Common stock, par value $0.01
Entity Interactive Data Current	Yes
Entity Common Stock, Shares Outstanding		183,442,653
Entity File Number	000-29089
Entity Tax Identification Number	06-1562417
Entity Address, Address Line One	3 Forbes Road
Entity Address, City or Town	Lexington
Entity Address, State or Province	MA
Entity Address, Postal Zip Code	02421
City Area Code	781
Local Phone Number	674-4400
Document Quarterly Report	true
Document Transition Report	false
Entity Incorporation, State or Country Code	DE

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
ASSETS
Cash and cash equivalents	$ 79,171	$ 61,808
Accounts receivable	16,628	16,293
Prepaid expenses	7,664	7,420
Other current assets	1,296	1,015
Total current assets	104,759	86,536
Property, plant and equipment, net of accumulated amortization and depreciation of $45,330 and $42,861 at June 30, 2020 and December 31, 2019, respectively	28,520	26,326
Operating lease right-of-use assets	15,015	7,364
Goodwill	24,276	23,188
Acquired intangible assets, net of accumulated amortization of $10,499 and $9,431 at June 30, 2020 and December 31, 2019, respectively	11,760	10,504
Other long-term assets	1,454	1,417
Total assets	185,784	155,335
LIABILITIES, CONVERTIBLE PREFERRED STOCK AND STOCKHOLDERS’ DEFICIT
Current portion, long-term debt	1,532	646
Current portion, liability related to sale of future royalties and milestones	52,849	45,961
Current portion, deferred revenue	37,337	29,174
Current portion, operating lease liabilities	1,650	1,347
Accounts payable	20,698	13,564
Accrued liabilities	27,451	31,332
Other current liabilities	755	185
Total current liabilities	142,272	122,209
Long-term debt, net of current portion	18,813	13,380
Liability related to sale of future royalties and milestones, net of current portion	175,547	175,408
Deferred revenue, net of current portion	14,995	27,705
Operating lease liabilities, net of current portion	15,337	8,020
Contingent purchase price considerations	11,443	8,843
Other long-term liabilities	6,424	4,190
Commitments and contingencies
STOCKHOLDERS’ DEFICIT
Common stock, par value $0.01 per share; 400,000,000 shares authorized; 171,417,481 and 137,818,068 shares issued at June 30, 2020 and December 31, 2019, respectively	1,714	1,378
Additional paid-in capital	1,156,442	1,059,583
Accumulated other comprehensive income (loss)	369	(1,324)
Accumulated deficit	(1,377,147)	(1,284,993)
Total stockholders’ deficit attributable to Agenus Inc.	(218,622)	(225,356)
Non-controlling interest	(7,342)	(5,981)
Total stockholders’ deficit	(225,964)	(231,337)
Total liabilities, convertible preferred stock and stockholders’ deficit	185,784	155,335
Series C-1 Convertible Preferred Stock [Member]
CONVERTIBLE PREFERRED STOCK
Series C-1 convertible preferred stock; 12,459 shares designated, issued, and outstanding at June 30, 2020 and December 31, 2019	26,917	26,917
Series A-1 convertible preferred stock [Member]
STOCKHOLDERS’ DEFICIT
Series A-1 convertible preferred stock; 31,620 shares designated, issued, and outstanding at June 30, 2020 and December 31, 2019; liquidation value of $33,145 at June 30, 2020	0	0
Total stockholders’ deficit	$ 0	$ 0

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) (Unaudited) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Property plant and equipment, accumulated amortization and depreciation	$ 45,330	$ 42,861
Acquired intangible assets, accumulated amortization	$ 10,499	$ 9,431
Preferred stock, par value	$ 0.01	$ 0.01
Preferred stock, shares authorized	5,000,000	5,000,000
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	400,000,000	400,000,000
Common stock, shares issued	171,417,481	137,818,068
Series C-1 Convertible Preferred Stock [Member]
Series C-1 convertible preferred stock, shares designated	12,459	12,459
Series C-1 convertible preferred stock, shares issued	12,459	12,459
Series C-1 convertible preferred stock, shares outstanding	12,459	12,459
Series A-1 convertible preferred stock [Member]
Series A-1 convertible preferred stock, shares designated	31,620	31,620
Series A-1 convertible preferred stock, shares issued	31,620	31,620
Series A-1 convertible preferred stock, shares outstanding	31,620	31,620
Series A-1 convertible preferred stock, liquidation value	$ 33,145

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Revenue:
Total revenues	$ 26,945	$ 15,715	$ 42,073	$ 95,608
Operating expenses:
Cost of service revenue	(634)		(634)
Research and development	(38,550)	(45,243)	(74,913)	(85,374)
General and administrative	(14,195)	(11,405)	(24,809)	(22,211)
Contingent purchase price consideration fair value adjustment	(6,840)	(213)	(2,456)	(2,961)
Operating loss	(33,274)	(41,146)	(60,739)	(14,938)
Other expense:
Loss on modification of debt			(2,720)
Non-operating expense	(340)	(924)	(1,392)	(554)
Interest expense, net	(14,630)	(9,797)	(28,664)	(18,940)
Net loss	(48,244)	(51,867)	(93,515)	(34,432)
Dividends on Series A-1 convertible preferred stock	(52)	(52)	(105)	(104)
Less: net loss attributable to non-controlling interest	(764)	(1,233)	(1,361)	(2,304)
Net loss attributable to Agenus Inc. common stockholders	$ (47,532)	$ (50,686)	$ (92,259)	$ (32,232)
Per common share data:
Basic and diluted net loss attributable to Agenus Inc. common stockholders	$ (0.28)	$ (0.38)	$ (0.59)	$ (0.24)
Weighted average number of Agenus Inc. common shares outstanding:
Basic and diluted	169,130	134,636	157,096	132,182
Other comprehensive income:
Foreign currency translation gain	$ 466	$ 1,142	$ 1,693	$ 460
Other comprehensive income	466	1,142	1,693	460
Comprehensive loss	(47,066)	(49,544)	(90,566)	(31,772)
Research and Development [Member]
Revenue:
Total revenues	18,068	4,399	19,996	75,271
Service Revenue [Member]
Revenue:
Total revenues	1,023		1,023
Other Revenue [Member]
Revenue:
Total revenues	8	2,053	52	2,468
Non-Cash Royalty Revenue Related to the Sale of Future Royalties [Member]
Revenue:
Total revenues	$ 7,846	$ 9,263	$ 21,002	$ 17,869

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Convertible Preferred Stock and Stockholders' Deficit (Unaudited) - USD ($) $ in Thousands	Total	Common Stock [Member]	Additional Paid-in Capital [Member]	Accumulated Other Comprehensive Income (Loss) [Member]	Non-controlling Interest [Member]	Accumulated Deficit [Member]	Series C-1 Convertible Preferred Stock [Member]	Series A-1 convertible preferred stock [Member]
Stockholders' Equity, Beginning Balance at Dec. 31, 2018	$ (174,545)	$ 1,200	$ 1,005,183	$ (1,539)	$ (2,078)	$ (1,177,311)		$ 0
Temporary Equity, shares at Dec. 31, 2018							18,000
Temporary Equity, Beginning Balance at Dec. 31, 2018							$ 39,879
Balance, shares at Dec. 31, 2018		119,996,000						32,000
Net income (loss)	17,435				(1,071)	18,506
Other comprehensive income	(682)			(682)
Adoption of ASC | ASC 842 [Member]	(25)					(25)
Share-based compensation	1,843		1,843
Shares sold under Stock Purchase Agreement, values	30,000	$ 111	29,889
Shares sold under Stock Purchase Agreement, shares		11,111,000
Conversion of Series C-1 convertible preferred stock	6,481	$ 30	6,451				$ (6,481)
Conversion of Series C-1 convertible preferred stock, shares		3,000,000					(3,000)
Payment of consultant in shares	37	$ 0	37
Payment of consultant in shares, shares		14,000
Exercise of stock options and employee share purchases	173	$ 1	172
Exercise of stock options and employee share purchases, shares		85,000
Stockholders' Equity, Ending Balance at Mar. 31, 2019	(119,283)	$ 1,342	1,043,575	(2,221)	(3,149)	(1,158,830)		$ 0
Temporary Equity, shares at Mar. 31, 2019							15,000
Temporary Equity, Ending Balance at Mar. 31, 2019							$ 33,398
Balance, shares at Mar. 31, 2019		134,206,000						32,000
Stockholders' Equity, Beginning Balance at Dec. 31, 2018	(174,545)	$ 1,200	1,005,183	(1,539)	(2,078)	(1,177,311)		$ 0
Temporary Equity, shares at Dec. 31, 2018							18,000
Temporary Equity, Beginning Balance at Dec. 31, 2018							$ 39,879
Balance, shares at Dec. 31, 2018		119,996,000						32,000
Net income (loss)	(34,432)
Other comprehensive income	460
Stockholders' Equity, Ending Balance at Jun. 30, 2019	(161,610)	$ 1,373	1,051,942	(1,079)	(4,382)	(1,209,464)		$ 0
Temporary Equity, shares at Jun. 30, 2019							12,000
Temporary Equity, Ending Balance at Jun. 30, 2019							$ 26,917
Balance, shares at Jun. 30, 2019		137,259,000						32,000
Stockholders' Equity, Beginning Balance at Mar. 31, 2019	(119,283)	$ 1,342	1,043,575	(2,221)	(3,149)	(1,158,830)		$ 0
Temporary Equity, shares at Mar. 31, 2019							15,000
Temporary Equity, Beginning Balance at Mar. 31, 2019							$ 33,398
Balance, shares at Mar. 31, 2019		134,206,000						32,000
Net income (loss)	(51,867)				(1,233)	(50,634)
Other comprehensive income	1,142			1,142
Share-based compensation	1,917		1,917
Conversion of Series C-1 convertible preferred stock	6,481	$ 30	6,451				$ (6,481)
Conversion of Series C-1 convertible preferred stock, shares		3,000,000					(3,000)
Vesting of nonvested shares		$ 1	(1)
Vesting of nonvested shares, shares		53,000
Stockholders' Equity, Ending Balance at Jun. 30, 2019	(161,610)	$ 1,373	1,051,942	(1,079)	(4,382)	(1,209,464)		$ 0
Temporary Equity, shares at Jun. 30, 2019							12,000
Temporary Equity, Ending Balance at Jun. 30, 2019							$ 26,917
Balance, shares at Jun. 30, 2019		137,259,000						32,000
Stockholders' Equity, Beginning Balance at Dec. 31, 2019	(231,337)	$ 1,378	1,059,583	(1,324)	(5,981)	(1,284,993)		$ 0
Temporary Equity, shares at Dec. 31, 2019							12,459
Temporary Equity, Beginning Balance at Dec. 31, 2019							$ 26,917
Balance, shares at Dec. 31, 2019		137,819,000						32,000
Net income (loss)	(45,271)				(597)	(44,674)
Other comprehensive income	1,227			1,227
Share-based compensation	2,397		2,397
Shares sold at the market	65,123	$ 247	64,876
Shares sold at the market, shares		24,716,000
Amendment of 2015 warrants and issuance of 2020 warrants	3,145		3,145
Payment of consultant in shares	12	$ 0	12
Payment of consultant in shares, shares		4,000
Exercise of stock options and employee share purchases	2,204	$ 8	2,196
Exercise of stock options and employee share purchases, shares		765,000
Stockholders' Equity, Ending Balance at Mar. 31, 2020	(202,500)	$ 1,633	1,132,209	(97)	(6,578)	(1,329,667)		$ 0
Temporary Equity, shares at Mar. 31, 2020							12,000
Temporary Equity, Ending Balance at Mar. 31, 2020							$ 26,917
Balance, shares at Mar. 31, 2020		163,304,000						32,000
Stockholders' Equity, Beginning Balance at Dec. 31, 2019	(231,337)	$ 1,378	1,059,583	(1,324)	(5,981)	(1,284,993)		$ 0
Temporary Equity, shares at Dec. 31, 2019							12,459
Temporary Equity, Beginning Balance at Dec. 31, 2019							$ 26,917
Balance, shares at Dec. 31, 2019		137,819,000						32,000
Net income (loss)	(93,515)
Other comprehensive income	$ 1,693
Exercise of stock options, shares	817,429
Stockholders' Equity, Ending Balance at Jun. 30, 2020	$ (225,964)	$ 1,714	1,156,442	369	(7,342)	(1,377,147)		$ 0
Temporary Equity, shares at Jun. 30, 2020							12,459
Temporary Equity, Ending Balance at Jun. 30, 2020							$ 26,917
Balance, shares at Jun. 30, 2020		171,418,000						32,000
Stockholders' Equity, Beginning Balance at Mar. 31, 2020	(202,500)	$ 1,633	1,132,209	(97)	(6,578)	(1,329,667)		$ 0
Temporary Equity, shares at Mar. 31, 2020							12,000
Temporary Equity, Beginning Balance at Mar. 31, 2020							$ 26,917
Balance, shares at Mar. 31, 2020		163,304,000						32,000
Net income (loss)	(48,244)				(764)	(47,480)
Other comprehensive income	466			466
Share-based compensation	2,464		2,464
Shares sold at the market	19,907	$ 73	19,834
Shares sold at the market, shares		7,290,000
Issuance of shares for business acquisition	900	$ 4	896
Issuance of shares for business acquisition, shares		405,000
Payment of payroll in shares	88	$ 0	88
Payment of payroll in shares, shares		31,000
Payment of consultant in shares	31	$ 0	31
Payment of consultant in shares, shares		10,000
Exercise of stock options	924	$ 3	921
Exercise of stock options, shares		290,000
Vesting of nonvested shares		$ 1	(1)
Vesting of nonvested shares, shares		88,000
Stockholders' Equity, Ending Balance at Jun. 30, 2020	$ (225,964)	$ 1,714	$ 1,156,442	$ 369	$ (7,342)	$ (1,377,147)		$ 0
Temporary Equity, shares at Jun. 30, 2020							12,459
Temporary Equity, Ending Balance at Jun. 30, 2020							$ 26,917
Balance, shares at Jun. 30, 2020		171,418,000						32,000

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Cash flows from operating activities:
Net income (loss)	$ (93,515)	$ (34,432)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	3,491	3,323
Share-based compensation	4,950	3,760
Non-cash royalty revenue	(21,002)	(17,869)
Non-cash interest expense	28,191	19,609
Change in fair value of contingent obligations	2,456	2,961
Loss on modification of debt	2,720
Changes in operating assets and liabilities:
Accounts receivable	766	(1,267)
Prepaid expenses	(266)	5,704
Accounts payable	6,106	5,643
Deferred revenue	(4,599)	52,803
Accrued liabilities and other current liabilities	(3,532)	(235)
Other operating assets and liabilities	2,354	883
Net cash (used in) provided by operating activities	(71,880)	40,883
Cash flows from investing activities:
Purchases of plant and equipment	(1,762)	(2,762)
Cash paid for business acquisition	(1,000)
Cash acquired in business acquisition	28
Net cash used in investing activities	(2,734)	(2,762)
Cash flows from financing activities:
Net proceeds from sale of equity	85,030	30,000
Proceeds from employee stock purchases and option exercises	3,128	172
Proceeds from issuance of long-term debt	6,197
Repayments of debt	(1,000)
Payment of finance lease obligation	(1,430)	(151)
Net cash provided by financing activities	91,925	30,021
Effect of exchange rate changes on cash	52	521
Net increase in cash and cash equivalents	17,363	68,663
Cash and cash equivalents, beginning of period	61,808	53,054
Cash and cash equivalents, end of period	79,171	121,717
Supplemental cash flow information:
Cash paid for interest	590	620
Supplemental disclosures - non-cash activities:
Purchases of plant and equipment in accounts payable and accrued liabilities	662	105
Issuance of common stock	900
Contingent purchase price consideration in connection with business acquisition	144
Lease right-of-use assets obtained in exchange for new operating lease liabilities	8,600
Lease right-of-use assets obtained in exchange for new finance lease liabilities	2,434
Payment to Consultant [Member]
Supplemental disclosures - non-cash activities:
Issuance of common stock	$ 31	$ 38

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows (Unaudited) (Parenthetical)	Jun. 30, 2020$ / shares
Supplemental disclosures - non-cash activities:
Common stock, par value	$ 0.01
Payment to Consultant [Member]
Supplemental disclosures - non-cash activities:
Common stock, par value	$ 0.01

Business, Liquidity and Basis o

Business, Liquidity and Basis of Presentation	6 Months Ended
	Jun. 30, 2020
Description Of Business [Abstract]
Business, Liquidity And Basis of Presentation	Note A - Business, Liquidity and Basis of Presentation Agenus Inc. (including its subsidiaries, collectively referred to as “Agenus,” the “Company,” “we,” “us,” and “our”) is a clinical-stage immuno-oncology (“I-O”) company advancing an extensive pipeline of immune checkpoint antibodies, adoptive cell therapies and neoantigen vaccines, to fight cancer and infections. Our business is designed to drive success in I-O through speed, innovation and effective combination therapies. We believe that combination therapies and a deep understanding of each patient’s cancer will drive substantial expansion of the patient population benefiting from current I-O therapies. In addition to a diverse pipeline, we have assembled fully integrated end-to-end capabilities including novel target discovery, antibody generation, cell line development and good manufacturing practice manufacturing. We believe that these fully integrated capabilities enable us to produce novel candidates on timelines that are shorter than the industry standard. Leveraging our science and capabilities, we have forged important partnerships to advance our innovation. We are developing a comprehensive I-O portfolio driven by the following platforms and programs, which we intend to utilize individually and in combination: • our multiple antibody discovery platforms, including our proprietary display technologies, designed to drive the discovery of future CPM antibody candidates; • our antibody candidate programs, including our CPM programs; • our vaccine programs, including Prophage™, AutoSynVax™ and PhosPhoSynVax ™; • our saponin-based vaccine adjuvants, principally our QS-21 Stimulon™ adjuvant, or QS-21 Stimulon; and • our cell therapy subsidiary, AgenTus Therapeutics, Inc., which is designed to drive the discovery of future adoptive cell therapy, or “living drugs” programs. Our business activities include product research and development, intellectual property prosecution, manufacturing, regulatory and clinical affairs, corporate finance and development activities, and support of our collaborations. Our product candidates require clinical trials and approvals from regulatory agencies, as well as acceptance in the marketplace. Part of our strategy is to develop and commercialize some of our product candidates by continuing our existing arrangements with academic and corporate collaborators and licensees and by entering into new collaborations. As a result of the COVID-19 pandemic, in March 2020, we streamlined our operations and repurposed certain of our research and development efforts to advance product candidates for the potential treatment of COVID-19, including certain agents from our existing clinical portfolio. Our cash and cash equivalents at June 30, 2020 were $79.2 million, an increase of $17.4 million from December 31, 2019. We have incurred losses since our inception. As of June 30, 2020, we had an accumulated deficit of $1.4 billion. Although we plan to launch our first commercial product in 2021, if approved, we do not expect to be profitable in 2021. During the past five years, we have successfully financed our operations through the sale of equity, notes, corporate partnerships and advance royalty sales. Based on our current plans and projections, we believe that our cash resources of $79.2 million as of June 30, 2020, combined with proceeds from financing transactions already completed in the third quarter of 2020, along with cash expected to be received from corporate transactions and milestones, will be sufficient to satisfy our liquidity requirements into the third quarter of 2021; we are presently in financing, partnership, and out licensing discussions which, if consummated, could extend our cash resources further into and beyond next year. Until we are successful in our efforts for capital infusion through these transactions or other financing options, and because the completion of such transactions is not entirely within our control, in accordance with accounting guidance we are required to disclose that substantial doubt exists about our ability to continue as a going concern for a period of one year after the date of filing of this Quarterly Report on Form 10-Q. The financial statements do not include any adjustments that might result from the outcome of this uncertainty. Accordingly, the financial statements have been prepared on a basis that assumes we will continue as a going concern and which contemplates the realization of assets and satisfaction of liabilities and commitments in the ordinary course of business. Management continues to address the Company’s liquidity position and will adjust spending as needed in order to preserve liquidity. In March 2020, in response to the COVID-19 pandemic, we streamlined our organization, which included a headcount reduction and the slowing down of several non-priority programs and our CEO, Dr. Garo Armen, also elected to receive his base 8 salary in stock rather than cash for the remainder of 2020. We also continue to monitor the likelihood of success of our key initiatives and have a plan to discontinue funding of such activities if they do not prove to be successful, or further restrict funding of non-core programs, restrict capital expenditures and/or reduce the scale of our operations as necessary to ensure sufficient cash resources into the third quarter of 202 1 . Our future liquidity needs will be determined primarily by the success of our operations with respect to the progression of our product candidates and key development and regulatory events in the future. Potential sources of additional funding include: (1) pursuing collaboration, out-licensing and/or partnering opportunities for our portfolio programs and product candidates with one or more third parties, (2) renegotiating third party agreements, (3) selling assets, (4) securing additional debt financing and/or (5) selling equity securities. The accompanying unaudited interim condensed consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”) for interim financial information and with the instructions to Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete annual consolidated financial statements. In the opinion of our management, the condensed consolidated financial statements include all normal and recurring adjustments considered necessary for a fair presentation of our financial position and operating results. All significant intercompany transactions and accounts have been eliminated in consolidation. Operating results for the six months ended June 30, 2020, are not necessarily indicative of the results that may be expected for the year ending December 31, 2020. For further information, refer to our consolidated financial statements and footnotes thereto included in our Annual Report on Form 10-K for the year ended December 31, 2019 filed with the Securities and Exchange Commission on March 16, 2020. The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Management bases its estimates on historical experience and on various assumptions that are believed to be reasonable under the circumstances. Actual results could differ materially from those estimates. For our foreign subsidiaries, the local currency is the functional currency. Assets and liabilities of our foreign subsidiaries are translated into U.S. dollars using rates in effect at the balance sheet date while revenues and expenses are translated into U.S. dollars using average exchange rates during the period. The cumulative translation adjustment resulting from changes in exchange rates are included in the consolidated balance sheets as a component of accumulated other comprehensive loss in total stockholders’ deficit.

Net Loss Per Share

Net Loss Per Share	6 Months Ended
	Jun. 30, 2020
Earnings Per Share [Abstract]
Net Loss Per Share	Note B - Net Loss Per Share Basic net loss per common share is calculated by dividing the net loss attributable to common stockholders by the weighted average number of common shares outstanding (including common shares issuable under our Amended and Restated Directors’ Deferred Compensation Plan, or “DDCP”). Diluted loss per common share is calculated by dividing loss attributable to common stockholders by the weighted average number of common shares outstanding (including common shares issuable under our DDCP) plus the dilutive effect of outstanding instruments such as warrants, stock options, non-vested shares and convertible preferred stock. Because we reported a net loss attributable to common stockholders for all periods presented, diluted loss per common share is the same as basic loss per common share, as the effect of utilizing the fully diluted share count would have reduced the net loss per common share. The following securities have been excluded from the computation of diluted weighted average shares outstanding as of June 30, 2020 and 2019, as they would be anti-dilutive (in thousands): Three and Six Months Ended June 30, 2020 2019 Warrants 1,950 1,400 Stock options 26,079 23,844 Non-vested shares 873 2,218 Series A-1 convertible preferred stock 333 333 Series C-1 convertible preferred stock 12,459 12,459

Investments

Investments	6 Months Ended
	Jun. 30, 2020
Cash And Cash Equivalents [Abstract]
Investments	Note C - Investments Cash equivalents consisted of the following as of June 30, 2020 and December 31, 2019 (in thousands): June 30, 2020 December 31, 2019 Cost Estimated Fair Value Cost Estimated Fair Value Institutional money market funds $ 53,942 $ 53,942 $ 55,258 $ 55,258 U.S. Treasury Bills 9,996 9,996 — — Total $ 63,938 $ 63,938 $ 55,258 $ 55,258 As a result of the short-term nature of our investments, there were minimal unrealized holding gains or losses for the three and six months ended June 30, 2020 and 2019.

Goodwill and Acquired Intangibl

Goodwill and Acquired Intangible Assets	6 Months Ended
	Jun. 30, 2020
Goodwill And Intangible Assets Disclosure [Abstract]
Goodwill and Acquired Intangible Assets	Note D - Goodwill and Acquired Intangible Assets The following table sets forth the changes in the carrying amount of goodwill for the six months ended June 30, 2020 (in thousands): Balance, December 31, 2019 $ 23,188 Foreign currency translation adjustment 294 Addition of goodwill related to business acquisition 794 Balance, June 30, 2020 $ 24,276 Acquired intangible assets consisted of the following as of June 30, 2020 and December 31, 2019 (in thousands): As of June 30, 2020 Amortization period (years) Gross carrying amount Accumulated amortization Net carrying amount Intellectual property 7-15 years $ 16,667 $ (9,015 ) $ 7,652 Trademarks 4-4.5 years 1,266 (867 ) 399 Other 2-7 years 2,345 (617 ) 1,728 In-process research and development Indefinite 1,981 — 1,981 Total $ 22,259 $ (10,499 ) $ 11,760 As of December 31, 2019 Amortization period (years) Gross carrying amount Accumulated amortization Net carrying amount Intellectual property 7-15 years $ 16,584 $ (8,044 ) $ 8,540 Trademarks 4.5 years 834 (834 ) — Other 2-6 years 572 (553 ) 19 In-process research and development Indefinite 1,945 — 1,945 Total $ 19,935 $ (9,431 ) $ 10,504 The weighted average amortization period of our finite-lived intangible assets is 9 years. Amortization expense related to acquired intangibles is estimated at $1.1 million for the remainder of 2020, $2.2 million for each of the years ending December 31, 2021 and 2022, $1.7 million for the year ending December 31, 2023 and $0.6 million for the year ending December 31, 2024.

Debt

Debt	6 Months Ended
	Jun. 30, 2020
Debt Disclosure [Abstract]
Debt	Note E - Debt Debt obligations consisted of the following as of June 30, 2020 and December 31, 2019 (in thousands): Debt instrument Balance at June 30, 2020 Current Portion: Debentures $ 146 Other 1,386 Long-term Portion: 2015 Subordinated Notes 12,616 Other 6,197 Total $ 20,345 Debt instrument Principal at December 31, 2019 Unamortized Debt Discount Balance at December 31, 2019 Current Portion: Debentures $ 146 $ — $ 146 2015 Subordinated Notes 500 — 500 Long-term Portion: 2015 Subordinated Notes 13,500 (120 ) 13,380 Total $ 14,146 $ (120 ) $ 14,026 On February 18, 2020, we entered into an amendment to the 2015 Subordinated Notes (the “Amendment”) pursuant to which we: • extended the maturity date of $13.5 million of the 2015 Subordinated Notes by three years from February 20, 2020 to February 20, 2023 • repaid $0.5 million of the 2015 Subordinated Notes • extended the exercise period of the warrants to purchase 1,350,000 shares of the Company’s common stock previously issued in 2015 by three years from February 20, 2020 to February 20, 2023 • issued new warrants to purchase 675,000 shares of the Company’s common stock with a term of five years and an exercise price of $4.48 per share, which represented a 20% premium over the 30-day average trailing closing price of the Company’s common stock as of the date of the Amendment. The Amendment was accounted for as a debt extinguishment under the guidance of ASU 470: Debt which primarily represents the fair value of the new and extended warrants Payroll Protection Program In May 2020, we entered into promissory notes with Bank of America, NA for aggregate loan proceeds of approximately $6.2 million (collectively, the “Loan”) under the Small Business Administration (the “SBA”) Paycheck Protection Program of the Coronavirus Aid, Relief and Economic Security Act of 2020 (the “CARES Act”). We intend to use at least 60% of the Loan proceeds for covered payroll costs and no more than 40% of the Loan proceeds for rent and utilities in accordance with the relevant terms and conditions of the CARES Act, as amended by the Paycheck Protection Program Flexibility Act. Each Loan has a two-year The Loan may be forgiven partially or fully if the Loan proceeds are used for covered payroll costs, rent and utilities, provided that such amounts are incurred during the twenty-four week period commencing on receipt of the Loan proceeds, and at least 60% of any forgiven amount has been used for covered payroll costs. Any forgiveness of the Loan will be subject to approval by the SBA and will require us to apply for such treatment in the future. 11 As we cannot yet determine if the Loan will be partially or fully forgiven, we have classified the Loan proceeds as debt in our condensed consolidated balance sheet.

Liability Related to the Sale o

Liability Related to the Sale of Future Royalties and Milestones	6 Months Ended
	Jun. 30, 2020
Liability Related To Sale Of Future Royalties And Milestones [Abstract]
Liability Related to the Sale of Future Royalties and Milestones	Note F – Liability Related to the Sale of Future Royalties and Milestones The following table shows the activity within the liability account in the six months ended June 30, 2020 (in thousands): Period from December 31, 2019 to June 30, 2020 Liability related to sale of future royalties and milestones - beginning balance $ 221,845 Non-cash royalty revenue (21,002 ) Non-cash interest expense recognized 27,999 Liability related to sale of future royalties and milestones - ending balance 228,842 Less: unamortized transaction costs (446 ) Liability related to sale of future royalties and milestones, net $ 228,396 Healthcare Royalty Partners In January 2018, we, through our wholly-owned subsidiary Antigenics, LLC (“Antigenics”), entered into a Royalty Purchase Agreement (the “HCR Royalty Purchase Agreement”) with Healthcare Royalty Partners III, L.P. and certain of its affiliates (collectively, “HCR”). Pursuant to the terms of the HCR Royalty Purchase Agreement, we sold to HCR 100% of Antigenics’ worldwide rights to receive royalties from GlaxoSmithKline (“GSK”) on sales of GSK’s vaccines containing our QS-21 Stimulon adjuvant. At closing, we received gross proceeds of $190.0 million from HCR. Although we sold all of our rights to receive royalties on sales of GSK’s vaccines containing QS-21, as a result of our obligation to HCR, we are required to account for these royalties as revenue when earned, and we recorded the $190.0 million in proceeds from this transaction as a liability on our condensed consolidated balance sheet that will be amortized using the interest method over the estimated life of the HCR Royalty Purchase Agreement. The liability is classified between the current and non-current portion of liability related to sale of future royalties and milestones in the condensed consolidated balance sheets based on the estimated recognition of the royalty payments to be received by HCR in the next 12 months from the financial statement reporting date. During the six months ended June 30, 2020, we recognized $21.0 million of non-cash royalty revenue, and we recorded $28.0 million of related non-cash interest expense related to the HCR Royalty Purchase Agreement. As royalties are remitted to HCR from GSK, the balance of the recorded liability will be effectively repaid over the life of the HCR Royalty Purchase Agreement. To determine the amortization of the recorded liability, we are required to estimate the total amount of future royalty payments to be received by HCR. The sum of these amounts less the $190.0 million proceeds we received will be recorded as interest expense over the life of the HCR Royalty Purchase Agreement. Periodically, we assess the estimated royalty payments to be paid to HCR from GSK, and to the extent the amount or timing of the payments is materially different from our original estimates, we will prospectively adjust the amortization of the liability. During the six months ended June 30, 2020, our estimate of the effective annual interest rate over the life of the agreement increased to 27.3%, which results in a retrospective interest rate of 22.9%.

Accrued Liabilities

Accrued Liabilities	6 Months Ended
	Jun. 30, 2020
Other Liabilities Disclosure [Abstract]
Accrued Liabilities	Note G - Accrued Liabilities Accrued liabilities consisted of the following as of June 30, 2020 and December 31, 2019 (in thousands): June 30, 2020 December 31, 2019 Payroll $ 6,514 $ 9,575 Professional fees 4,254 4,314 Contract manufacturing costs 8,044 8,768 Research services 7,344 6,675 Other 1,295 2,000 Total $ 27,451 $ 31,332

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2020
Fair Value Measurements [Abstract]
Fair Value Measurements	Note H - Fair Value Measurements We measure our contingent purchase price considerations at fair value. The fair values of our contingent purchase price considerations, $11.4 million, are based on significant inputs not observable in the market, which require them to be reported as Level 3 liabilities within the fair value hierarchy. The valuation of these liabilities use assumptions we believe would be made by a market participant and are based on estimates from a Monte Carlo simulation of our market capitalization and share price, and other factors impacting the probability of triggering the milestone payments. Market capitalization and share price were evolved using a geometric Brownian motion, calculated daily for the life of the contingent purchase price considerations. The significant unobservable inputs include the anticipated timelines to achieve the contingent purchase milestones and our estimated credit spread, the weighted average values of which (weighted based on the value of each contingent liability), as of June 30, 2020, are shown in the table below. Unobservable Input Period of time to achieve milestones (in years) 1.4 Credit spread 10.8 % Liabilities measured at fair value are summarized below (in thousands): Description June 30, 2020 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Liabilities: Contingent purchase price considerations $ 11,443 $ — $ — $ 11,443 Total $ 11,443 $ — $ — $ 11,443 Description December 31, 2019 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Liabilities: Contingent purchase price consideration $ 8,843 $ — $ — $ 8,843 Total $ 8,843 $ — $ — $ 8,843 13 The following table presents our liabilities measured at fair value using significant unobservable inputs (Level 3), as of June 30, 2020 (in thousands): Balance, December 31, 2019 $ 8,843 Change in fair value of contingent purchase price considerations during the period 2,456 Addition of contingent purchase price consideration related to business acquisition 144 Balance, June 30, 2020 $ 11,443 The fair value of our outstanding debt balance at June 30, 2020 and December 31, 2019 was $20.5 million and $14.2 million, respectively, based on the Level 2 valuation hierarchy of the fair value measurements standard using a present value methodology that was derived by evaluating the nature and terms of each note and considering the prevailing economic and market conditions at the balance sheet date. The principal amount of our outstanding debt balance at June 30, 2020 and December 31, 2019 was $20.7 and $14.1 million, respectively.

Revenue from Contracts with Cus

Revenue from Contracts with Customers	6 Months Ended
	Jun. 30, 2020
Collaboration [Abstract]
Revenue from Contracts with Customers	Note I - Revenue from Contracts with Customers Gilead Collaboration Agreement On December 20, 2018, we entered into a series of agreements with Gilead Sciences, Inc. (“Gilead”) focused on the development and commercialization of up to five novel immuno-oncology therapies. Pursuant to the terms of the license agreement, the option and license agreements and the stock purchase agreement we entered into with Gilead (collectively, the “Gilead Collaboration Agreements”), at the closing of the transaction on January 23, 2019 (the “Effective Date”), we received an upfront cash payment from Gilead of $120.0 million and Gilead made a $30.0 million equity investment in Agenus. We are also eligible to receive up to $1.7 billion in aggregate potential milestones. Collaboration Revenue For the three months ended June 30, 2020, we recognized $4.0 million of research and development revenue related to the Gilead Collaboration Agreements based on the partial satisfaction of the over time performance obligations as of quarter end. For the three months ended June 30, 2019, we recognized $3.8 million of research and development revenue based on the partial satisfaction of the over time performance obligations as of quarter end. For the six months ended June 30, 2020, we recognized $5.8 million of license and collaboration revenue related to the Gilead Collaboration Agreements based on the partial satisfaction of the over time performance obligations as of period end. For the six months ended June 30, 2019, we recognized $74.1 million of license and collaboration revenue related to the Gilead Collaboration Agreements. This amount included $8.6 million of the transaction price recognized based on the partial satisfaction of the over time performance obligations as of period end. We expect to recognize deferred research and development revenue of $22.9 million and $27.7 million for the remainder of 2020 and 2021, respectively, related to performance obligations that are unsatisfied or partially unsatisfied as of June 30, 2020. Incyte Collaboration Agreement For the three months ended June 30, 2020, we recognized approximately $0.2 million of research and development revenue for research and development services provided. For the three months ended June 30, 2019, we recognized approximately $0.6 million of research and development revenue. This amount included $0.1 million of the transaction price recognized based on the partial satisfaction of the over time performance obligations as of quarter end and $0.5 million for research and development services. For the six months ended June 30, 2020, we recognized approximately $0.3 million of research and development revenue for research and development services provided. For the six months ended June 30, 2019, we recognized approximately $1.2 million of research and development revenue. This amount included $0.3 million of the transaction price for the Incyte Collaboration Agreement recognized based on the partial satisfaction of the over time performance obligations as of period end and $0.9 million for research and development services. 14 Betta License Agreement In June 2020, we entered into a license and collaboration agreement (the “Betta License Agreement”) with Betta Pharmaceuticals Co., Ltd. (“Betta”), pursuant to which we granted Betta an exclusive license to develop, manufacture and commercialize balstilimab and zalifrelimab in Greater China. Under the terms of the Betta License Agreement, we received $15.0 million upfront in July 2020 and are eligible to receive up to $100.0 million in milestone payments plus royalties on any future sales in Greater China. We also entered into a stock purchase agreement with Betta and a wholly-owned subsidiary of Betta (“Betta HK”), pursuant to which we agreed to sell to Betta HK 4,962,779 shares of Agenus common stock for an aggregate purchase price of approximately $20.0 million, or $4.03 per share. The closing under the stock purchase agreement occurred in July 2020. We identified the following performance obligations under the Betta License Agreement: (1) the license of balstilimab and zalifrelimab, (2) our obligation to complete manufacturing technology transfer activities to Betta (the “Technology Transfer”) for We determined that the license of balstilimab and zalifrelimab was both capable of being distinct and distinct within the context of the contract as the license has significant stand-alone functionality as of contract inception based on the advanced development stage of balstilimab and zalifrelimab. Betta can begin deriving benefit from the license prior to the Technology Transfer being completed. The Technology Transfer is completed over time and is separate from the transfer of the license, which occurred at contract inception. As a result, we concluded that the license and Technology Transfer are separate performance obligations. We determined that there were no significant financing components, noncash consideration, or amounts that may be refunded to the customer, and as such the total upfront fixed consideration of $15.0 million would be included in the total transaction price and be allocated to the identified performance obligations using the relative standalone selling price method. We determined the estimated standalone selling price of the balstilimab and zalifrelimab balstilimab and zalifrelimab Revenue attributable to the balstilimab and zalifrelimab license was recognized at a point-in-time, upon delivery of the license to Betta at contract inception. The Technology Transfer is satisfied over time and revenue attributable to this performance obligation will be recognized as the related services are being performed using the input of costs incurred over total costs expected to be incurred. We believe this is the best measure of progress because other measures do not reflect how we transfer the performance obligation to Betta. For the three and six months ended June 30, 2020, we recognized $13.9 million of license and collaboration revenue related to the Betta License Agreement. Disaggregation of Revenue The following tables present revenue (in thousands) for the three and six months ended June 30, 2020 and 2019, disaggregated by geographic region and revenue type. Revenue by geographic region is allocated based on the domicile of our respective business operations. 15 Three months ended June 30, 2020 United States Rest of World Total Revenue Type Research and development services $ 237 $ — $ 237 License fee revenue 13,857 — 13,857 Other services — 1,023 1,023 Recognition of deferred revenue 3,974 — 3,974 Recognition of deferred grant revenue 8 — 8 Non-cash royalty revenue 7,846 — 7,846 $ 25,922 $ 1,023 $ 26,945 Three months ended June 30, 2019 Revenue Type Research and development services $ 486 $ — $ 486 Recognition of deferred revenue 3,913 — 3,913 Recognition of deferred grant revenue 231 55 286 Manufacturing services 1,767 — 1,767 Non-cash royalty revenue 9,263 — 9,263 $ 15,660 $ 55 $ 15,715 Six months ended June 30, 2020 United States Rest of World Total Revenue Type Research and development services $ 334 $ — $ 334 License fee revenue 13,857 — 13,857 Other services — 1,023 1,023 Recognition of deferred revenue 5,805 — 5,805 Recognition of deferred grant revenue 8 44 52 Non-cash royalty revenue 21,002 — 21,002 $ 41,006 $ 1,067 $ 42,073 Six months ended June 30, 2019 Revenue Type Research and development services $ 901 $ — $ 901 License fee revenue 65,500 — 65,500 Recognition of deferred revenue 8,870 — 8,870 Recognition of deferred grant revenue 646 55 701 Manufacturing services 1,767 — 1,767 Non-cash royalty revenue 17,869 — 17,869 $ 95,553 $ 55 $ 95,608 Contract Balances Contract assets primarily relate to our rights to consideration for work completed in relation to our research and development services performed but not billed at the reporting date. The contract assets are transferred to receivables when the rights become unconditional. Currently, we do not have any contract assets which have not transferred to a receivable. The following table provides information about contract assets and contract liabilities from contracts with customers (in thousands): 16 Six months ended June 30, 2020 Balance at beginning of period Additions Deductions Balance at end of period Contract assets: Unbilled receivables from collaboration partners $ - $ - $ - $ - Contract liabilities: Deferred revenue $ 56,414 $ 1,311 $ (5,805 ) $ 51,920 The change in contract liabilities is primarily related to the recognition of $5.8 million of revenue related to the Gilead Collaboration Agreements and the addition of $1.1 million of deferred revenue from the Betta License Agreement during the six months ended June 30, 2020. Deferred revenue related to the Gilead Collaboration Agreements of $50.6 million as of June 30, 2020, which was comprised of the $142.5 million initial transaction price, less $91.9 million of license and collaboration revenue recognized from the effective date of the contract, will be recognized as the combined performance obligation is satisfied. We also recorded a $1.6 million receivable as of June 30, 2020 for research and development and other services provided. During the six months ended June 30, 2020, we did not recognize any revenue from amounts included in the contract asset or the contract liability balances from performance obligations satisfied in previous periods. None of the costs to obtain or fulfill a contract were capitalized.

Share-Based Compensation Plans

Share-Based Compensation Plans	6 Months Ended
	Jun. 30, 2020
Share Based Compensation [Abstract]
Share-Based Compensation Plans	Note J - Share-based Compensation Plans We primarily use the Black-Scholes option pricing model to value stock options granted to employees and non-employees, including stock options granted to members of our Board of Directors. However, the fair value of stock option market-based awards is calculated based on a Monte Carlo simulation as of the date of issuance. All stock options have 10-year terms and generally vest ratably over a 3 or 4-year period. A summary of option activity for the six months ended June 30, 2020 is presented below: Options Weighted Average Exercise Price Weighted Average Remaining Contractual Term (in years) Aggregate Intrinsic Value Outstanding at December 31, 2019 27,164,147 $ 3.67 Granted 2,333,722 4.01 Exercised (817,429 ) 3.10 Forfeited (1,315,126 ) 3.41 Expired (1,286,014 ) 4.49 Outstanding at June 30, 2020 26,079,300 $ 3.69 7.38 $ 16,015,293 Vested or expected to vest at June 30, 2020 26,079,300 $ 3.69 7.38 $ 16,015,293 Exercisable at June 30, 2020 12,863,425 $ 4.05 5.87 $ 6,172,093 The weighted average grant-date fair values of stock options granted during the six months ended June 30, 2020 and 2019 were $1.46 and $1.83, respectively. As of June 30, 2020, there was approximately $16.9 million of total unrecognized share-based compensation expense related to these stock options which, if all milestones are achieved, will be recognized over a weighted average period of 2.0 years. Certain employees and consultants have been granted non-vested stock. The fair value of non-vested market-based awards is calculated based on a Monte Carlo simulation as of the date of issuance. The fair value of other non-vested stock is calculated based on the closing sale price of our common stock on the date of issuance. 17 A summary of non-vested stock activity for the six months ended June 30, 2020 is presented below: Non-vested Shares Weighted Average Grant Date Fair Value Outstanding at December 31, 2019 2,207,943 $ 2.85 Granted 73,030 3.56 Vested (88,132 ) 2.95 Forfeited (1,320,311 ) 3.44 Outstanding at June 30, 2020 872,530 $ 2.00 As of June 30, 2020, there was approximately $0.9 million of unrecognized share-based compensation expense related to these non-vested shares which will be recognized over a period of 1.7 years. During the six months ended June 30, 2020, 236,855 shares were issued under the 2019 Employee Stock Purchase Plan, 88,132 The impact on our results of operations from share-based compensation for the three and six months ended June 30, 2020 and 2019, was as follows (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2020 2019 2020 2019 Research and development $ 839 $ 610 $ 2,042 $ 1,497 General and administrative 1,625 1,306 2,819 2,263 Total share-based compensation expense $ 2,464 $ 1,916 $ 4,861 $ 3,760

Leases

Leases	6 Months Ended
	Jun. 30, 2020
Leases [Abstract]
Leases	Note K – Leases The majority of our operating lease agreements are for the office, research and development and manufacturing space we use to conduct our operations. We lease space in Lexington, Massachusetts for our manufacturing, research and development, and corporate offices, office space in New York, New York for use as corporate offices, facilities in Berkeley, California, for manufacturing and corporate offices and a facility in Cambridge, United Kingdom for research and development and corporate offices. We have subleased a small portion of the space in our main Lexington facility for part of the associated head lease. These agreements expire at various times between 2020 and 2030. We also have a finance lease agreement for transportation equipment that expires in 2022. The components of lease cost recorded in our condensed consolidated statement of operations were as follows (in thousands): Three months ended June 30, Six months ended June 30, 2020 2019 2020 2019 Operating lease cost $ 1,074 $ 604 $ 2,151 $ 1,155 Finance lease cost 119 58 192 123 Variable lease cost 495 357 1,009 655 Sublease income (144 ) (140 ) (288 ) (280 ) Net lease cost $ 1,544 $ 879 $ 3,064 $ 1,653 Variable lease cost for the three and six months ended June 30, 2020 and 2019 primarily related to common area maintenance, taxes, utilities, insurance and parking associated with our operating leases. Short-term lease cost for the three and six months ended June 30, 2020 and 2019 was immaterial. 18 Cash paid for amounts included in the measurement of operating lease liabilities for the six months ended June 30, 2020 and 2019 was approximately $0.9 million and $0.8 million, respectively. Cash paid for amounts included in the measurement of finance lease liabilities for the six months ended June 30, 2020 was approximately $1.4 million. The following table presents supplemental balance sheet information related to our leases (in thousands): As of June 30, 2020 As of December 31, 2019 Operating Leases Operating lease right-of-use assets $ 15,015 $ 7,364 Total operating lease right-of-use assets 15,015 7,364 Current portion, operating lease liabilities 1,650 1,347 Operating lease liabilities, net of current portion 15,337 8,020 Total operating lease liabilities 16,987 9,367 Finance Leases Property, plant and equipment, net 2,353 796 Total finance lease right-of-use assets 2,353 796 Other current liabilities 701 148 Other long-term liabilities 451 — Total finance lease liabilities $ 1,152 $ 148 Maturities of our lease liabilities as of June 30, 2020 were as follows (in thousands): Year Operating Leases Finance leases Expected sublease receipts Net future lease commitments Remainder of 2020 $ 2,048 $ 402 $ (289 ) $ 2,161 2021 4,344 804 5,148 2022 4,446 67 4,513 2023 4,008 4,008 2024 2,638 2,638 Thereafter 12,366 12,366 Total $ 29,850 $ 1,273 $ (289 ) $ 30,834 Less imputed interest (12,863 ) (121 ) Present value of lease liabilities $ 16,987 $ 1,152 The weighted-average remaining lease terms and discount rates related to our operating and finance leases were as follows: June 30, 2020 Operating Finance Weighted average remaining lease term (in years) 7.3 1.6 Weighted average discount rate 15.8 % 12.3 %

Equity

Equity	6 Months Ended
	Jun. 30, 2020
Equity [Abstract]
Equity	Note L – Equity At the Market Offerings During the three and six months ended June 30, 2020, we received net proceeds of approximately $19.9 million and $85.0 million from the sale of approximately 7.3 million and 32.0 million shares of our common stock at an average price per share of 19 approximately $ and $ 2.74 , respectively, in at-the-market offerings under our At Market Issuance Sales Agreement with B. Riley FBR, Inc. (“B. Riley”) dated May 11, 2019 (the “Prior Sales Agreement”) .

Recent Accounting Pronouncement

Recent Accounting Pronouncements	6 Months Ended
	Jun. 30, 2020
New Accounting Pronouncements And Changes In Accounting Principles [Abstract]
Recent Accounting Pronouncements	Note M - Recent Accounting Pronouncements Recently Issued and Adopted In August 2018, the Financial Accounting Standards Board (“FASB”) issued ASU No. 2018-13, Fair Value Measurement (Topic 820): Disclosure Framework - Changes to the Disclosure Requirements for Fair Value Measurement (“ASU 2018-13”). The amendments in ASU 2018-13 modify the disclosure requirements of fair value measurements. Certain disclosures are required to be applied on a retrospective basis and others on a prospective basis. We adopted the standard on January 1, 2020. The adoption did not have a material impact on our financial statement disclosures. In November 2018, the FASB issued ASU No. 2018-18, Collaborative Arrangements (Topic 808): Clarifying the Interaction between Topic 808 and Topic 606, Revenue from Contracts with Customers, (“ASC 606”) Recently Issued, Not Yet Adopted In January 2017, the FASB issued ASU 2017-04, Intangibles – Goodwill and Other (Topic 350) that will eliminate the requirement to calculate the implied fair value of goodwill to measure a goodwill impairment charge. Instead, an impairment charge will be based on the excess of a reporting unit’s carrying amount over its fair value. The guidance is effective for the Company in the first quarter of fiscal 2023. Early adoption is permitted. We do not anticipate the adoption of this guidance to have a material impact on our consolidated financial statements, absent any goodwill impairment. In December 2019, the FASB issued ASU No. 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes (“ASU 2019-12”). ASU 2019-12 enhances and simplifies multiple aspects of the income tax accounting guidance in ASC 740. The standard will be effective for fiscal years beginning after December 15, 2020, and interim periods within those fiscal years, with early adoption permitted. We are currently evaluating the impact of adoption of ASU 2019-12 on our consolidated financial statements. No other new accounting pronouncement issued or effective during the six months ended June 30, 2020 had or is expected to have a material impact on our consolidated financial statements or disclosures.

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 30, 2020
Subsequent Events [Abstract]
Subsequent Events	Note M – Subsequent Events Automatic Shelf Registration Statement on Form S-3ASR On July 22, 2020, we filed an Automatic Shelf Registration Statement on Form S3-ASR (file no. 333-240006) (the “Registration Statement”). The Registration Statement included both a base prospectus that covered the potential offering, issuance and sale from time to time of common stock, preferred stock, warrants, debt securities and units of Agenus and At the Market Offerings During the period of July 1, 2020 through August 3, 2020, we received net proceeds of approximately $23.7 million from the sale of approximately 6.9 million shares of our common stock under both the Prior Sales Agreement and New Sales Agreement.

Net Loss Per Share (Tables)

Net Loss Per Share (Tables)	6 Months Ended
	Jun. 30, 2020
Earnings Per Share [Abstract]
Schedule of Anti-dilutive Securities Excluded from Computation of Diluted Weighted Average Shares Outstanding	The following securities Three and Six Months Ended June 30, 2020 2019 Warrants 1,950 1,400 Stock options 26,079 23,844 Non-vested shares 873 2,218 Series A-1 convertible preferred stock 333 333 Series C-1 convertible preferred stock 12,459 12,459

Investments (Tables)

Investments (Tables)	6 Months Ended
	Jun. 30, 2020
Cash And Cash Equivalents [Abstract]
Schedule of Cash Equivalents	Cash equivalents consisted of the following as of June 30, 2020 and December 31, 2019 (in thousands): June 30, 2020 December 31, 2019 Cost Estimated Fair Value Cost Estimated Fair Value Institutional money market funds $ 53,942 $ 53,942 $ 55,258 $ 55,258 U.S. Treasury Bills 9,996 9,996 — — Total $ 63,938 $ 63,938 $ 55,258 $ 55,258

Goodwill and Acquired Intangi_2

Goodwill and Acquired Intangible Assets (Tables)	6 Months Ended
	Jun. 30, 2020
Goodwill And Intangible Assets Disclosure [Abstract]
Schedule of Changes in Goodwill	The following table sets forth the changes in the carrying amount of goodwill for the six months ended June 30, 2020 (in thousands): Balance, December 31, 2019 $ 23,188 Foreign currency translation adjustment 294 Addition of goodwill related to business acquisition 794 Balance, June 30, 2020 $ 24,276
Schedule of Acquired Intangible Assets	Acquired intangible assets consisted of the following as of June 30, 2020 and December 31, 2019 (in thousands): As of June 30, 2020 Amortization period (years) Gross carrying amount Accumulated amortization Net carrying amount Intellectual property 7-15 years $ 16,667 $ (9,015 ) $ 7,652 Trademarks 4-4.5 years 1,266 (867 ) 399 Other 2-7 years 2,345 (617 ) 1,728 In-process research and development Indefinite 1,981 — 1,981 Total $ 22,259 $ (10,499 ) $ 11,760 As of December 31, 2019 Amortization period (years) Gross carrying amount Accumulated amortization Net carrying amount Intellectual property 7-15 years $ 16,584 $ (8,044 ) $ 8,540 Trademarks 4.5 years 834 (834 ) — Other 2-6 years 572 (553 ) 19 In-process research and development Indefinite 1,945 — 1,945 Total $ 19,935 $ (9,431 ) $ 10,504

Debt (Tables)

Debt (Tables)	6 Months Ended
	Jun. 30, 2020
Debt Disclosure [Abstract]
Schedule of Debt Obligations	Debt obligations consisted of the following as of June 30, 2020 and December 31, 2019 (in thousands): Debt instrument Balance at June 30, 2020 Current Portion: Debentures $ 146 Other 1,386 Long-term Portion: 2015 Subordinated Notes 12,616 Other 6,197 Total $ 20,345 Debt instrument Principal at December 31, 2019 Unamortized Debt Discount Balance at December 31, 2019 Current Portion: Debentures $ 146 $ — $ 146 2015 Subordinated Notes 500 — 500 Long-term Portion: 2015 Subordinated Notes 13,500 (120 ) 13,380 Total $ 14,146 $ (120 ) $ 14,026

Liability Related to the Sale_2

Liability Related to the Sale of Future Royalties and Milestones (Tables)	6 Months Ended
	Jun. 30, 2020
Text Block [Abstract]
Schedule of Liability Account	The following table shows the activity within the liability account in the six months ended June 30, 2020 (in thousands): Period from December 31, 2019 to June 30, 2020 Liability related to sale of future royalties and milestones - beginning balance $ 221,845 Non-cash royalty revenue (21,002 ) Non-cash interest expense recognized 27,999 Liability related to sale of future royalties and milestones - ending balance 228,842 Less: unamortized transaction costs (446 ) Liability related to sale of future royalties and milestones, net $ 228,396

Accrued Liabilities (Tables)

Accrued Liabilities (Tables)	6 Months Ended
	Jun. 30, 2020
Other Liabilities Disclosure [Abstract]
Schedule of Accrued Liabilities	Accrued liabilities consisted of the following as of June 30, 2020 and December 31, 2019 (in thousands): June 30, 2020 December 31, 2019 Payroll $ 6,514 $ 9,575 Professional fees 4,254 4,314 Contract manufacturing costs 8,044 8,768 Research services 7,344 6,675 Other 1,295 2,000 Total $ 27,451 $ 31,332

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2020
Fair Value Disclosures [Abstract]
Schedule of Weighted Average Values of Contingent Purchase Milestones and Credit Spread	The significant unobservable inputs include the anticipated timelines to achieve the contingent purchase milestones and our estimated credit spread, the weighted average values of which (weighted based on the value of each contingent liability), as of June 30, 2020, are shown in the table below. Unobservable Input Period of time to achieve milestones (in years) 1.4 Credit spread 10.8 %
Schedule of Liabilities Measured at Fair Value	Liabilities measured at fair value are summarized below (in thousands): Description June 30, 2020 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Liabilities: Contingent purchase price considerations $ 11,443 $ — $ — $ 11,443 Total $ 11,443 $ — $ — $ 11,443 Description December 31, 2019 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Liabilities: Contingent purchase price consideration $ 8,843 $ — $ — $ 8,843 Total $ 8,843 $ — $ — $ 8,843
Schedule of Liabilities Measured at Fair Value Using Significant Unobservable Inputs	The following table presents our liabilities measured at fair value using significant unobservable inputs (Level 3), as of June 30, 2020 (in thousands): Balance, December 31, 2019 $ 8,843 Change in fair value of contingent purchase price considerations during the period 2,456 Addition of contingent purchase price consideration related to business acquisition 144 Balance, June 30, 2020 $ 11,443

Revenue from Contracts with C_2

Revenue from Contracts with Customers (Tables)	6 Months Ended
	Jun. 30, 2020
Collaboration [Abstract]
Summary of Disaggregation of Revenue	The following tables present revenue (in thousands) for the three and six months ended June 30, 2020 and 2019, disaggregated by geographic region and revenue type. Revenue by geographic region is allocated based on the domicile of our respective business operations. 15 Three months ended June 30, 2020 United States Rest of World Total Revenue Type Research and development services $ 237 $ — $ 237 License fee revenue 13,857 — 13,857 Other services — 1,023 1,023 Recognition of deferred revenue 3,974 — 3,974 Recognition of deferred grant revenue 8 — 8 Non-cash royalty revenue 7,846 — 7,846 $ 25,922 $ 1,023 $ 26,945 Three months ended June 30, 2019 Revenue Type Research and development services $ 486 $ — $ 486 Recognition of deferred revenue 3,913 — 3,913 Recognition of deferred grant revenue 231 55 286 Manufacturing services 1,767 — 1,767 Non-cash royalty revenue 9,263 — 9,263 $ 15,660 $ 55 $ 15,715 Six months ended June 30, 2020 United States Rest of World Total Revenue Type Research and development services $ 334 $ — $ 334 License fee revenue 13,857 — 13,857 Other services — 1,023 1,023 Recognition of deferred revenue 5,805 — 5,805 Recognition of deferred grant revenue 8 44 52 Non-cash royalty revenue 21,002 — 21,002 $ 41,006 $ 1,067 $ 42,073 Six months ended June 30, 2019 Revenue Type Research and development services $ 901 $ — $ 901 License fee revenue 65,500 — 65,500 Recognition of deferred revenue 8,870 — 8,870 Recognition of deferred grant revenue 646 55 701 Manufacturing services 1,767 — 1,767 Non-cash royalty revenue 17,869 — 17,869 $ 95,553 $ 55 $ 95,608
Schedule of Information about Contract Assets and Contract Liabilities from Contracts with Customers	The following table provides information about contract assets and contract liabilities from contracts with customers (in thousands): 16 Six months ended June 30, 2020 Balance at beginning of period Additions Deductions Balance at end of period Contract assets: Unbilled receivables from collaboration partners $ - $ - $ - $ - Contract liabilities: Deferred revenue $ 56,414 $ 1,311 $ (5,805 ) $ 51,920

Share-Based Compensation Plans

Share-Based Compensation Plans (Tables)	6 Months Ended
	Jun. 30, 2020
Share Based Compensation [Abstract]
Schedule of Stock Option Activity	A summary of option activity for the six months ended June 30, 2020 is presented below: Options Weighted Average Exercise Price Weighted Average Remaining Contractual Term (in years) Aggregate Intrinsic Value Outstanding at December 31, 2019 27,164,147 $ 3.67 Granted 2,333,722 4.01 Exercised (817,429 ) 3.10 Forfeited (1,315,126 ) 3.41 Expired (1,286,014 ) 4.49 Outstanding at June 30, 2020 26,079,300 $ 3.69 7.38 $ 16,015,293 Vested or expected to vest at June 30, 2020 26,079,300 $ 3.69 7.38 $ 16,015,293 Exercisable at June 30, 2020 12,863,425 $ 4.05 5.87 $ 6,172,093
Summary of Non-vested Stock Activity	A summary of non-vested stock activity for the six months ended June 30, 2020 is presented below: Non-vested Shares Weighted Average Grant Date Fair Value Outstanding at December 31, 2019 2,207,943 $ 2.85 Granted 73,030 3.56 Vested (88,132 ) 2.95 Forfeited (1,320,311 ) 3.44 Outstanding at June 30, 2020 872,530 $ 2.00
Schedule of Share-Based Compensation Expense	The impact on our results of operations from share-based compensation for the three and six months ended June 30, 2020 and 2019, was as follows (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2020 2019 2020 2019 Research and development $ 839 $ 610 $ 2,042 $ 1,497 General and administrative 1,625 1,306 2,819 2,263 Total share-based compensation expense $ 2,464 $ 1,916 $ 4,861 $ 3,760

Leases (Tables)

Leases (Tables)	6 Months Ended
	Jun. 30, 2020
Leases [Abstract]
Schedule of Components of Lease Cost Recorded in Condensed Consolidated Statement of Operations	The components of lease cost recorded in our condensed consolidated statement of operations were as follows (in thousands): Three months ended June 30, Six months ended June 30, 2020 2019 2020 2019 Operating lease cost $ 1,074 $ 604 $ 2,151 $ 1,155 Finance lease cost 119 58 192 123 Variable lease cost 495 357 1,009 655 Sublease income (144 ) (140 ) (288 ) (280 ) Net lease cost $ 1,544 $ 879 $ 3,064 $ 1,653
Schedule of Supplemental Balance Sheet Information Related to Lease	The following table presents supplemental balance sheet information related to our leases (in thousands): As of June 30, 2020 As of December 31, 2019 Operating Leases Operating lease right-of-use assets $ 15,015 $ 7,364 Total operating lease right-of-use assets 15,015 7,364 Current portion, operating lease liabilities 1,650 1,347 Operating lease liabilities, net of current portion 15,337 8,020 Total operating lease liabilities 16,987 9,367 Finance Leases Property, plant and equipment, net 2,353 796 Total finance lease right-of-use assets 2,353 796 Other current liabilities 701 148 Other long-term liabilities 451 — Total finance lease liabilities $ 1,152 $ 148
Schedule of Maturities of Operating Lease Liabilities in Accordance With ASC 842	Maturities of our lease liabilities as of June 30, 2020 were as follows (in thousands): Year Operating Leases Finance leases Expected sublease receipts Net future lease commitments Remainder of 2020 $ 2,048 $ 402 $ (289 ) $ 2,161 2021 4,344 804 5,148 2022 4,446 67 4,513 2023 4,008 4,008 2024 2,638 2,638 Thereafter 12,366 12,366 Total $ 29,850 $ 1,273 $ (289 ) $ 30,834 Less imputed interest (12,863 ) (121 ) Present value of lease liabilities $ 16,987 $ 1,152
Schedule of Weighted-Average Remaining Lease Terms and Discount Rates Related to Operating Leases	The weighted-average remaining lease terms and discount rates related to our operating and finance leases were as follows: June 30, 2020 Operating Finance Weighted average remaining lease term (in years) 7.3 1.6 Weighted average discount rate 15.8 % 12.3 %

Business, Liquidity and Basis_2

Business, Liquidity and Basis of Presentation (Narrative) (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019	Dec. 31, 2018
Description Of Business [Abstract]
Cash and cash equivalents	$ 79,171	$ 121,717	$ 61,808	$ 53,054
Increase in cash and cash equivalents	17,363	$ 68,663
Accumulated deficit	$ 1,377,147		$ 1,284,993

Net Loss Per Share (Schedule of

Net Loss Per Share (Schedule of Anti-dilutive Securities Excluded from Computation of Diluted Weighted Average Shares Outstanding) (Details) - shares shares in Thousands	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Warrants [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	1,950	1,400
Stock Options [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	26,079	23,844
Non-vested Shares [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	873	2,218
Series A-1 convertible preferred stock [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	333	333
Series C-1 Convertible Preferred Stock [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	12,459	12,459

Investments (Schedule of Cash E

Investments (Schedule of Cash Equivalents) (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Cost [Member]
Cash And Cash Equivalents [Line Items]
Cash equivalents	$ 63,938	$ 55,258
Estimated Fair Value [Member]
Cash And Cash Equivalents [Line Items]
Cash equivalents	63,938	55,258
Institutional Money Market Funds [Member] | Cost [Member]
Cash And Cash Equivalents [Line Items]
Cash equivalents	53,942	55,258
Institutional Money Market Funds [Member] | Estimated Fair Value [Member]
Cash And Cash Equivalents [Line Items]
Cash equivalents	53,942	$ 55,258
U.S. Treasury Bills [Member] | Cost [Member]
Cash And Cash Equivalents [Line Items]
Cash equivalents	9,996
U.S. Treasury Bills [Member] | Estimated Fair Value [Member]
Cash And Cash Equivalents [Line Items]
Cash equivalents	$ 9,996

Goodwill and Acquired Intangi_3

Goodwill and Acquired Intangible Assets (Schedule of Changes in Goodwill) (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2020USD ($)
Goodwill [Roll Forward]
Beginning balance	$ 23,188
Foreign currency translation adjustment	294
Ending balance	24,276
Addition of goodwill related to business acquisition	$ 794

Goodwill and Acquired Intangi_4

Goodwill and Acquired Intangible Assets (Acquired Intangible Assets) (Details) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2020	Dec. 31, 2019
Finite-Lived Intangible Assets [Line Items]
Intangible Assets, Gross (Excluding Goodwill)	$ 22,259	$ 19,935
Accumulated amortization	(10,499)	(9,431)
Net carrying amount	11,760	10,504
Indefinite-lived Intangible Assets Acquired	1,981	1,945
Intellectual Property [Member]
Finite-Lived Intangible Assets [Line Items]
Gross carrying amount	16,667	16,584
Accumulated amortization	(9,015)	(8,044)
Net carrying amount	$ 7,652	$ 8,540
Intellectual Property [Member] | Minimum [Member]
Finite-Lived Intangible Assets [Line Items]
Amortization period (years)	7 years	7 years
Intellectual Property [Member] | Maximum [Member]
Finite-Lived Intangible Assets [Line Items]
Amortization period (years)	15 years	15 years
Trademarks [Member]
Finite-Lived Intangible Assets [Line Items]
Amortization period (years)	4 years 6 months	4 years 6 months
Gross carrying amount	$ 1,266	$ 834
Accumulated amortization	(867)	(834)
Net carrying amount	399
Other [Member]
Finite-Lived Intangible Assets [Line Items]
Gross carrying amount	2,345	572
Accumulated amortization	(617)	(553)
Net carrying amount	$ 1,728	$ 19
Other [Member] | Minimum [Member]
Finite-Lived Intangible Assets [Line Items]
Amortization period (years)	2 years	2 years
Other [Member] | Maximum [Member]
Finite-Lived Intangible Assets [Line Items]
Amortization period (years)	7 years	6 years

Goodwill and Acquired Intangi_5

Goodwill and Acquired Intangible Assets (Narrative) (Details) $ in Millions	6 Months Ended
	Jun. 30, 2020USD ($)
Goodwill And Intangible Assets Disclosure [Abstract]
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life	9 years
Finite-Lived Intangible Assets, Estimated Amortization Expense, 2020	$ 1.1
Finite-Lived Intangible Assets, Estimated Amortization Expense, December 31, 2021	2.2
Finite-Lived Intangible Assets, Estimated Amortization Expense, December 31, 2022	2.2
Finite-Lived Intangible Assets, Estimated Amortization Expense, December 31, 2023	1.7
Finite-Lived Intangible Assets, Estimated Amortization Expense, December 31, 2024	$ 0.6

Debt - Schedule of Debt Obligat

Debt - Schedule of Debt Obligations (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
Balance, Short-term Portion	$ 1,386
Balance, Long-Term Debt Total	20,345	$ 14,026
Debt instrument, Long-term Portion
Principal, Balance Total	20,700	14,146
Unamortized Debt Discount Total		(120)
Other [Member]
Debt Instrument [Line Items]
Balance, Long-term Portion	6,197
2015 Subordinated Notes [Member]
Debt Instrument [Line Items]
Balance, Long-term Portion	12,616	13,380
Debt instrument, Long-term Portion
Principal Balance, Long-term Portion		13,500
Unamortized Debt Discount, Long-term Portion		(120)
Debentures [Member]
Debt Instrument [Line Items]
Balance, Short-term Portion	$ 146	146
Debt instrument, Current Portion
Principal Balance, Short-term Portion		146
2015 Subordinated Notes [Member]
Debt Instrument [Line Items]
Balance, Short-term Portion		500
Debt instrument, Current Portion
Principal Balance, Short-term Portion		$ 500

Debt (Narrative) (Details)

Debt (Narrative) (Details) - USD ($) $ / shares in Units, $ in Thousands	Feb. 18, 2020	Feb. 17, 2020	May 31, 2020	Apr. 30, 2020	Jun. 30, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
Remaining debt payment					$ 1,000
Warrants issued	675,000
Class of Warrant or Right, Number of Securities Called by Warrants or Rights	675,000
Warrants outstanding, Term	5 years
Warrants, exercise price	$ 4.48
Premium over warrants exercise price	20.00%
Loss on other expense					(2,720)
Principal amount of outstanding debt					20,700	$ 14,146
Paycheck Protection Program [Member] | COVID 19 [Member]
Debt Instrument [Line Items]
Loan term			2 years
Percentage of loan proceeds to be used for payroll costs			60.00%
Percentage of loan proceeds to be used for rent and utilities			40.00%
Debt instrument, interest rate			1.00%
Paycheck Protection Program [Member] | Promissory notes with Bank of America [Member] | COVID 19 [Member]
Debt Instrument [Line Items]
Aggregate loan proceeds			$ 6,200
Notes 2015 [Member]
Debt Instrument [Line Items]
Debt discount amortization period		3 years
Notes 2015 [Member] | Common Stock [Member]
Debt Instrument [Line Items]
Warrants issued	1,350,000
Warrants exercise period date	Feb. 20, 2023	Feb. 20, 2020
Class of Warrant or Right, Number of Securities Called by Warrants or Rights	1,350,000
Senior Subordinated Notes [Member] | Notes 2015 [Member]
Debt Instrument [Line Items]
Debt instrument, debt default provisions face amount	$ 13,500
Debt instrument, maturity date	Feb. 20, 2023	Feb. 20, 2020
Remaining debt payment	$ 500			$ 500
Loss on other expense					2,700
Principal amount of outstanding debt					$ 20,700

Liability Related to the Sale_3

Liability Related to the Sale of Future Royalties and Milestones (Schedule of Liability Account) (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2020USD ($)
Liability Related To Sale Of Future Royalties And Milestones [Abstract]
Liability related to sale of future royalties and milestones - beginning balance	$ 221,845
Non-cash royalty revenue	(21,002)
Non-cash interest expense recognized	27,999
Liability related to sale of future royalties and milestones - ending balance	228,842
Less: unamortized transaction costs	(446)
Liability related to sale of future royalties and milestones, net	$ 228,396

Liability Related to the Sale_4

Liability Related to the Sale of Future Royalties and Milestones (Narrative) (Details) - USD ($) $ in Thousands	Jan. 19, 2018	Jun. 30, 2020	Jan. 06, 2018
Liability Related To Sale Of Future Royalties And Milestones [Line Items]
Non-cash royalty revenue recognized		$ 21,002
Non-cash interest expense		27,999
HCR [Member] | GSK Agreements [Member] | Royalty Purchase Agreement [Member]
Liability Related To Sale Of Future Royalties And Milestones [Line Items]
Percentage of purchase of worldwide rights to receive royalties			100.00%
Gross proceeds received for royalty rights	$ 190,000
Non-cash royalty revenue recognized		21,000
Non-cash interest expense		$ 28,000
Effective annual interest rate		27.30%
Prospective effective annual interest rate		22.90%

Accrued Liabilities (Schedule o

Accrued Liabilities (Schedule of Accrued Liabilities) (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Accrued Liabilities Current [Abstract]
Payroll	$ 6,514	$ 9,575
Professional fees	4,254	4,314
Contract manufacturing costs	8,044	8,768
Research services	7,344	6,675
Other	1,295	2,000
Total	$ 27,451	$ 31,332

Fair Value Measurements (Narrat

Fair Value Measurements (Narrative) (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Contingent purchase price considerations	$ 11,443	$ 8,843
Principal, Balance Total	20,700	14,146
Level 2 [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Contingent purchase price considerations	0	0
Fair value of outstanding debt	$ 20,500	$ 14,200

Fair Value Measurements (Schedu

Fair Value Measurements (Schedule of Weighted Average Values of Contingent Purchase Milestones and Credit Spread) (Details) - Weighted Average [Member]	6 Months Ended
	Jun. 30, 2020
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Period of time to achieve milestones (in years)	1 year 4 months 24 days
Credit spread	10.80%

Fair Value Measurements (Sche_2

Fair Value Measurements (Schedule of Liabilities Measured at Fair Value) (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Contingent purchase price considerations, Fair Value Disclosure	$ 11,443	$ 8,843
Total	11,443	8,843
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Contingent purchase price considerations, Fair Value Disclosure	0	0
Total	0	0
Significant Other Observable Inputs (Level 2) [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Contingent purchase price considerations, Fair Value Disclosure	0	0
Total	0	0
Significant Unobservable Inputs (Level 3) [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Contingent purchase price considerations, Fair Value Disclosure	11,443	8,843
Total	$ 11,443	$ 8,843

Fair Value Measurements (Sche_3

Fair Value Measurements (Schedule of Liabilities Measured at Fair Value Using Significant Unobservable Inputs) (Details) - Significant Unobservable Inputs (Level 3) [Member] $ in Thousands	6 Months Ended
	Jun. 30, 2020USD ($)
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Balance, beginning of period	$ 8,843
Balance, end of period	11,443
Contingent purchase price [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Change in fair value of considerations during the period	2,456
Addition of contingent purchase price consideration related to business acquisition	$ 144

Revenue from Contracts with C_3

Revenue from Contracts with Customers (Narrative) (Details) - USD ($)	Jan. 23, 2019	Jul. 31, 2020	Jun. 30, 2020	Mar. 31, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Revenue From Contract With Customer [Line Items]
Shares sold at the market			$ 19,907,000	$ 65,123,000
Revenue recognized			26,945,000		$ 15,715,000	$ 42,073,000	$ 95,608,000
Asset impairment charges						0
Contract with customer, liability, revenue recognized						5,805,000
Deferred revenue, Additions						1,311,000
Capitalized contract , cost			0			0
Research and Development Revenue [Member]
Revenue From Contract With Customer [Line Items]
Revenue recognized			18,068,000		4,399,000	19,996,000	75,271,000
Research and Development Services [Member]
Revenue From Contract With Customer [Line Items]
Revenue recognized			237,000		486,000	334,000	901,000
License and Collaboration Revenue [Member]
Revenue From Contract With Customer [Line Items]
Revenue recognized					3,913,000
Gilead Collaboration Arrangements [Member]
Revenue From Contract With Customer [Line Items]
Contract with customer, liability, revenue recognized						5,800,000
Contract with customer, net asset liability			50,600,000			50,600,000
Initial transaction price						142,500,000
Gilead Collaboration Arrangements [Member] | License and Collaboration Revenue [Member]
Revenue From Contract With Customer [Line Items]
Revenue recognized						91,900,000
Betta License Agreement [Member]
Revenue From Contract With Customer [Line Items]
Deferred revenue, Additions						1,100,000
Gilead Sciences Incorporation [Member] | Gilead Collaboration Arrangements [Member]
Revenue From Contract With Customer [Line Items]
Upfront cash payment	$ 120,000,000
Shares sold at the market	30,000,000
Gilead Sciences Incorporation [Member] | Gilead Collaboration Arrangements [Member] | Research and Development Revenue [Member]
Revenue From Contract With Customer [Line Items]
Revenue recognized			4,000,000		3,800,000
Gilead Sciences Incorporation [Member] | Gilead Collaboration Arrangements [Member] | License and Collaboration Revenue[Member]
Revenue From Contract With Customer [Line Items]
Revenue recognized						5,800,000	74,100,000
Transaction price recognized							8,600,000
Incyte Corporation [Member]
Revenue From Contract With Customer [Line Items]
Receivables for R & D services			1,600,000			1,600,000
Incyte Corporation [Member] | Incyte Collaboration Agreement [Member]
Revenue From Contract With Customer [Line Items]
Transaction price recognized					100,000		300,000
Incyte Corporation [Member] | Incyte Collaboration Agreement [Member] | Research and Development Revenue [Member]
Revenue From Contract With Customer [Line Items]
Revenue recognized					600,000		1,200,000
Incyte Corporation [Member] | Incyte Collaboration Agreement [Member] | Research and Development Services [Member]
Revenue From Contract With Customer [Line Items]
Revenue recognized			200,000		$ 500,000	300,000	$ 900,000
Betta Pharmaceuticals Co., Ltd [Member] | Betta License Agreement [Member] | Subsequent Event [Member]
Revenue From Contract With Customer [Line Items]
Upfront payment received		$ 15,000,000
Betta Pharmaceuticals Co., Ltd [Member] | Betta License Agreement [Member] | Subsequent Event [Member] | Fixed Consideration [Member]
Revenue From Contract With Customer [Line Items]
Upfront payment received		15,000,000
Betta Pharmaceuticals Co., Ltd [Member] | Betta License Agreement [Member] | License and Collaboration Revenue [Member]
Revenue From Contract With Customer [Line Items]
Revenue recognized			$ 13,900,000			$ 13,900,000
Betta H K | Stock Purchase Agreement [Member] | Subsequent Event [Member]
Revenue From Contract With Customer [Line Items]
Shares sold at the market		$ 20,000,000
Shares sold at the market, shares		4,962,779
Number of shares purchased, price per share		$ 4.03
Maximum [Member] | Gilead Sciences Incorporation [Member] | Gilead Collaboration Arrangements [Member]
Revenue From Contract With Customer [Line Items]
Aggregate potential milestones receivable	$ 1,700,000,000
Maximum [Member] | Betta Pharmaceuticals Co., Ltd [Member] | Betta License Agreement [Member] | Subsequent Event [Member]
Revenue From Contract With Customer [Line Items]
Aggregate potential milestones receivable		$ 100,000,000

Revenue from Contracts with C_4

Revenue from Contracts with Customers (Narrative) (Details 1) - Gilead Sciences Incorporation [Member] $ in Millions	Jun. 30, 2020USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2020-07-01
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Expect to recognize deferred research and development revenue	$ 22.9
Revenue, remaining performance obligation, expected timing of satisfaction, period	6 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2021-01-01
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Expect to recognize deferred research and development revenue	$ 27.7
Revenue, remaining performance obligation, expected timing of satisfaction, period	1 year

Revenue from Contracts with C_5

Revenue from Contracts with Customers (Summary of Disaggregation of Revenue) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Disaggregation Of Revenue [Line Items]
Revenue	$ 26,945	$ 15,715	$ 42,073	$ 95,608
Research and development services [Member]
Disaggregation Of Revenue [Line Items]
Revenue	237	486	334	901
License fee revenue [Member]
Disaggregation Of Revenue [Line Items]
Revenue	13,857		13,857	65,500
Other [Member]
Disaggregation Of Revenue [Line Items]
Revenue	1,023		1,023
Recognition of deferred revenue [Member]
Disaggregation Of Revenue [Line Items]
Revenue	3,974		5,805	8,870
Recognition of deferred grant revenue [Member]
Disaggregation Of Revenue [Line Items]
Revenue	8	286	52	701
Manufacturing services [Member]
Disaggregation Of Revenue [Line Items]
Revenue		1,767		1,767
Non-cash royalty revenue [Member]
Disaggregation Of Revenue [Line Items]
Revenue	7,846	9,263	21,002	17,869
License and Collaboration Revenue [Member]
Disaggregation Of Revenue [Line Items]
Revenue		3,913
Non-cash royalty revenue [Member]
Disaggregation Of Revenue [Line Items]
Revenue		9,263		17,869
United States [Member]
Disaggregation Of Revenue [Line Items]
Revenue	25,922	15,660	41,006	95,553
United States [Member] | Research and development services [Member]
Disaggregation Of Revenue [Line Items]
Revenue	237	486	334	901
United States [Member] | License fee revenue [Member]
Disaggregation Of Revenue [Line Items]
Revenue	13,857		13,857	65,500
United States [Member] | Recognition of deferred revenue [Member]
Disaggregation Of Revenue [Line Items]
Revenue	3,974		5,805	8,870
United States [Member] | Recognition of deferred grant revenue [Member]
Disaggregation Of Revenue [Line Items]
Revenue	8	231	8	646
United States [Member] | Manufacturing services [Member]
Disaggregation Of Revenue [Line Items]
Revenue		1,767		1,767
United States [Member] | Non-cash royalty revenue [Member]
Disaggregation Of Revenue [Line Items]
Revenue	7,846		21,002
United States [Member] | License and Collaboration Revenue [Member]
Disaggregation Of Revenue [Line Items]
Revenue		3,913
United States [Member] | Non-cash royalty revenue [Member]
Disaggregation Of Revenue [Line Items]
Revenue		9,263		17,869
Rest of World [Member]
Disaggregation Of Revenue [Line Items]
Revenue	1,023	55	1,067	55
Rest of World [Member] | Other [Member]
Disaggregation Of Revenue [Line Items]
Revenue	$ 1,023		1,023
Rest of World [Member] | Recognition of deferred grant revenue [Member]
Disaggregation Of Revenue [Line Items]
Revenue		$ 55	$ 44	$ 55

Revenue from Contracts with C_6

Revenue from Contracts with Customers (Schedule of Information about Contract Assets and Contract Liabilities from Contracts with Customers) (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2020USD ($)
Contract With Customer Asset And Liability [Abstract]
Deferred revenue, Beginning Balance	$ 56,414
Deferred revenue, Additions	1,311
Deferred revenue, Deductions	(5,805)
Deferred revenue, Ending Balance	$ 51,920

Share-Based Compensation Plan_2

Share-Based Compensation Plans (Narrative) (Details) - USD ($) $ / shares in Units, $ in Millions	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Weighted average grant-date fair value of options granted	$ 1.46	$ 1.83
Vesting of nonvested shares, shares	88,132
Shares issued from exercise of options	817,429
Employees and directors [Member]
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Unrecognized share-based compensation expense	$ 16.9
Stock Options [Member]
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Unrecognized share-based compensation expense, weighted average period	2 years
Restricted Stock [Member]
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Unrecognized share-based compensation expense	$ 0.9
Performance Based Award [Member]
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Unrecognized share-based compensation expense, weighted average period	1 year 8 months 12 days
2009 EIP [Member]
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Deferred Compensation Arrangement with Individual, Maximum Contractual Term	10 years
2009 EIP [Member] | Minimum [Member]
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Vesting period, minimum	3 years
2009 EIP [Member] | Maximum [Member]
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Vesting period, minimum	4 years
2019 ESPP [Member]
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Shares issued under ESPP	236,855

Share-Based Compensation Plan_3

Share-Based Compensation Plans (Schedule Of Stock Option Activity) (Details) - USD ($)	6 Months Ended
	Jun. 30, 2020
Share Based Compensation [Abstract]
Options Outstanding, Beginning Balance	27,164,147
Options Granted	2,333,722
Options Exercised	(817,429)
Options Forfeited	(1,315,126)
Options Expired	(1,286,014)
Options Outstanding, Ending Balance	26,079,300
Options Vested or expected to vest	26,079,300
Options Exercisable	12,863,425
Options Outstanding, Weighted Average Exercise Price, Beginning Balance	$ 3.67
Options Granted, Weighted Average Exercise Price	4.01
Options Exercised, Weighted Average Exercise Price	3.10
Options Forfeited, Weighted Average Exercise Price	3.41
Options Expired, Weighted Average Exercise Price	4.49
Options Outstanding, Weighted Average Exercise Price, Ending Balance	3.69
Options Vested or expected to vest, Weighted Average Exercise Price	3.69
Options Exercisable, Weighted Average Exercise Price	$ 4.05
Options Outstanding, Weighted Average Remaining Contractual Term	7 years 4 months 17 days
Options Vested or expected to vest, Weighted Average Remaining Contractual Term	7 years 4 months 17 days
Options Exercisable, Weighted Average Remaining Contractual Term	5 years 10 months 13 days
Options Outstanding, Aggregate Intrinsic Value	$ 16,015,293
Options Vested or expected to vest, Aggregate Intrinsic Value	16,015,293
Options Exercisable, Aggregate Intrinsic Value	$ 6,172,093

Share-Based Compensation Plan_4

Share-Based Compensation Plans (Summary Of Non-vested Stock Activity) (Details)	6 Months Ended
	Jun. 30, 2020$ / sharesshares
Share Based Compensation [Abstract]
Non-vested Shares Outstanding, Beginning Balance | shares	2,207,943
Non-vested Shares Granted | shares	73,030
Non-vested Shares Vested | shares	(88,132)
Non-vested Shares Forfeited | shares	(1,320,311)
Non-vested Shares Outstanding, Ending Balance | shares	872,530
Non-vested Shares Outstanding, Weighted Average Grant Date Fair Value, Beginning Balance | $ / shares	$ 2.85
Non-vested Shares Granted, Weighted Average Grant Date Fair Value | $ / shares	3.56
Non-vested Shares Vested, Weighted Average Grant Date Fair Value | $ / shares	2.95
Non-vested Shares Forfeited, Weighted Average Grant Date Fair Value | $ / shares	3.44
Non-vested Shares Outstanding, Weighted Average Grant Date Fair Value, Ending Balance | $ / shares	$ 2

Share-Based Compensation Plan_5

Share-Based Compensation Plans (Schedule Of Share-Based Compensation Expense) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Share-based compensation expense	$ 2,464	$ 1,916	$ 4,861	$ 3,760
Research and Development [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Share-based compensation expense	839	610	2,042	1,497
General and Administrative [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Share-based compensation expense	$ 1,625	$ 1,306	$ 2,819	$ 2,263

Leases (Narrative) (Details)

Leases (Narrative) (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Lessee Lease Description [Line Items]
Finance lease, expiration period	2022
Cash payments for operating lease liabilities	$ 0.9	$ 0.8
Cash payments for finance lease liabilities	$ 1.4
Minimum [Member]
Lessee Lease Description [Line Items]
Operating lease, expiration period	2020
Maximum [Member]
Lessee Lease Description [Line Items]
Operating lease, expiration period	2030

Leases (Schedule of Components

Leases (Schedule of Components of Lease Cost Recorded in Condensed Consolidated Statement of Operations) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Leases [Abstract]
Operating lease cost	$ 1,074	$ 604	$ 2,151	$ 1,155
Finance lease cost	119	58	192	123
Variable lease cost	495	357	1,009	655
Sublease income	(144)	(140)	(288)	(280)
Net lease cost	$ 1,544	$ 879	$ 3,064	$ 1,653

Leases (Schedule of Supplementa

Leases (Schedule of Supplemental Balance Sheet Information Related to Lease) (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Lessee Lease Description [Line Items]
Total operating lease right-of-use assets	$ 15,015	$ 7,364
Current portion, operating lease liabilities	1,650	1,347
Operating lease liabilities, net of current portion	15,337	8,020
Total operating lease liabilities	16,987	9,367
Property, plant and equipment, net	2,353	796
Other current liabilities	701	148
Other long-term liabilities	451
Total finance lease liabilities	1,152	148
Property, plant and equipment, net [Member]
Lessee Lease Description [Line Items]
Property, plant and equipment, net	$ 2,353	$ 796

Leases (Schedule of Maturities

Leases (Schedule of Maturities of Operating Lease Liabilities in Accordance With ASC 842) (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Leases [Abstract]
Operating Leases, Remainder of 2020	$ 2,048
Operating Leases, 2021	4,344
Operating Leases, 2022	4,446
Operating Leases, 2023	4,008
Operating Leases, 2024	2,638
Operating Leases, Thereafter	12,366
Operating Leases, Total	29,850
Operating Leases, Less imputed interest	(12,863)
Operating Leases, Present value of lease liabilities	16,987	$ 9,367
Finance leases, Remainder of 2020	402
Finance leases, 2021	804
Finance leases, 2022	67
Finance leases, Total	1,273
Finance leases, Less imputed interest	(121)
Finance leases, Present value of lease liabilities	1,152	$ 148
Expected sublease receipts, Remainder of 2020	(289)
Expected sublease receipts, Total	(289)
Net future lease commitments, Remainder of 2019	2,161
Net future lease commitments, 2020	5,148
Net future lease commitments, 2021	4,513
Net future lease commitments, 2022	4,008
Net future lease commitments, 2023	2,638
Net future lease commitments, Thereafter	12,366
Net future lease commitments, Total	$ 30,834

Leases (Schedule of Weighted-Av

Leases (Schedule of Weighted-Average Remaining Lease Terms and Discount Rates Related to Operating Leases) (Details)	Jun. 30, 2020
Leases [Abstract]
Operating lease, weighted average remaining lease term (in years)	7 years 3 months 18 days
Operating lease, weighted average discount rate	15.80%
Finance lease, weighted average remaining lease term (in years)	1 year 7 months 6 days
Finance lease, weighted average discount rate	12.30%

Equity (Narrative) (Details)

Equity (Narrative) (Details) - At Market Issuance Sales Agreement [Member] - B. Riley FBR, Inc. [Member] - Prior Sales Agreement [Member] - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2020
Class Of Stock [Line Items]
Net proceeds from issuance of common stock	$ 19.9	$ 85
Shares sold at the market, shares	7.3	32
Shares sold price per share	$ 2.82	$ 2.74

Subsequent Events (Narrative) (

Subsequent Events (Narrative) (Details) - At Market Issuance Sales Agreement [Member] - B. Riley FBR, Inc. [Member] - Subsequent Event [Member] - New Sales Agreement [Member] - USD ($) $ in Millions	Aug. 31, 2020	Jul. 22, 2020
Subsequent Event [Line Items]
Offering ,issuance and sale of common stock from time to time		100,000,000
Net proceeds from issuance of common stock	$ 23.7
Shares sold at the market, shares	6,900,000