AGEN - Earnings call transcript Q4 2019

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Operator

Good morning, ladies and gentlemen. Thank you for standing by. And welcome to the Agenus Fourth Quarter and Full Year 2019 Conference Call. At this time, all participants are in a listen-only mode. [Operator Instructions]. will opportunity there ask presentation, today’s be to an questions. After Instructions]. [Operator this Please recorded. is being note event

would I Officer to Buell, Buell, like now go President Dr. over please and Jennifer to Chief Operating ahead. of Dr. turn Agenus. the conference

Jennifer Buell

being Rocco. on be site our is Web for material and accompanying will Thanks very slide call replay. webcast much, with Today's available our

well our to Before SEC on these as details statements and forward-looking statements, include this call we will plans release data start, we’d for uncertainties, to more are risks. regulatory statements timelines like we clinical regarding and to timelines, These our and remind you for refer as risks you that projection. and development including filings cash and subject

broadcast. a call reminder, for As this is being audio recorded

Chief and Christine and Finance. President of Garo Officer Dr. are Buell, of joining today our Chairman Jennifer and Executive Agenus Armen, Vice President I’m and Chief me Klaskin, Officer; Operating

data present To trial. response start, will from I our AGENXXXX new

multifunctional the may T Phase escalation You is which trial. in This X is CTLA-X. also a dose remember advancing antibody cell molecule that AGENXXXX a binds

X response seen a is two per the considered we have clinical complete responses dose. reported trial. In which milligram per February, is we At This monotherapy our X one in weeks, this in of Analyst past dose kilogram. kilogram, Day have additional at milligram a low

inhibitor. who after treatment relapsed endometrial with had response an complete cancer patient plus experimental a This TKI with in Keytruda

this disease an a to a is N-of-One. it in patient trial, very see unusual response was in While a with dose escalation complete advanced

for and stage response level responses is have have to share weeks on for received additional very patients, that of of of Today, in us we especially exciting promising. the we to This this are this very trial. at development, two very reports pleased this past

we improving. rates combination cervical additional to weeks zalifrelimab be cervical trial our cancer balstilimab had data in of seem second-line cancer. with have two Response the follow-up from past and the Also, in

cutoff, reported to about data -- we earlier over response close XX% At the XX%. rates

the follow additional are eight of Following above now months population, up the XX%. same response rates patient in

durability also partial What the becoming complete this is responses tighter. are of and with time. responses patients converting stable getting fact that these patients over impressive to confidence intervals is and with disease some are responses the partial some responses the are Also,

data from The relapsed/refractory continue in that may anti-CTLA-X cervical be metastatic anti-PD-X support these the with cancer patients trials treatment available combination the to best for and women disease. option of

patients of today, this granted the zalifrelimab and this in we metastatic cervical Track cancer. balstilimab announced that morning with FDA the for Fast To relapsed/refractory investigation end, designation

us to These findings are not surprising.

As to cases CTLA-X deck a response on types you X of have, and PD-X in some the the rates. triples doubles or expands addition Slide response a matter can fact, see of the number in rates, in different tumor we of

also addition of durability the response. And CTLA-X the of expands

As market, market a gives us very Agenus’ exciting the and potentially combination is opportunity this second opportunity. combination development to

our to was to as programs Now our research substantial the XXXX. I’m to referring in multiple discovery of operational across advances and programs. in as preclinical clinic This a and products summarize year progress products. well

concluded XXXX the we cash. in include; of highlights two million transactions Overall, $XXX development generated one, and business

royalty generated past reminder, million milestones. have payments the As years transactions over partnerships from we $XXX in in a and five and

of and antibody our trials balstilimab, pivotal Two, second-line support zalifrelimab, cervical analysis CTLA-X of our we to accrual two and interim PD-X completed in preplanned antibody target cancer. the registration the

now and we clinical four discoveries with Gilead. we clinical data which on AGENXXXX, AGENXXXX, generated Four, clinical is to first-in-class/best-in-class licensed programs. three of GS-XXXX programs including Three, launched our our AGENXXXX,

our These publicly. and track we two to antibodies which cell INDs this file not advanced our include disclosed INDs which additional have we we program Five, additional allogeneic on year. programs therapy towards are

a TIGIT And differentiated this that with Importantly, we molecule. on molecule antibody cancer published data We have to also Fc year. advanced us this cell. anti-TIGIT enhanced brings program our and proprietary

we BLAs and plan with cervical two we in activities year, cancer. one, This and zalifrelimab will to; for file second-line launch the continue our of balstilimab pre-commercial

we FDA launch and the the In today expect Fast be Track fact, to innovative. designation announced approach just from our highly we

Secondly, we discoveries three include anti-tumor file plan macrophage and INDs addressing new biology. to immunity. very important that These are to myeloid components

iNKT our We IND track also on therapy. are to cell file for allogeneic

we as we will Thirdly, from execute of shared data programs. clinical to milestones. $XX and partnership matter And million Fourthly, as readouts from of minimum we generate clinical fact, expect we a from programs. partnerships three collaborations. importantly, And expect six of these existing today, generate just have of to a data already additional

other Before to over go items. call a I over turning of couple to Garo, the want

mission treatments that better are accessible in to be ways. live have it, patients longer Our will way combination and discoveries; The we this two more lives. see is cancer affordable. and One, achieved two, and

affordable. At can these objectives, and Agenus platform we’ve of created a accessible deliver that both

I-O research manufacturing to patients any more have in-house capabilities discoveries company. efficient engine highly and delivered Our other than

XX year. out have Today, programs discoveries the clinic this on reading are and Agenus will six data we in clinical

data have programs three We updated those most on of the presented today.

balstilimab’s to take We share are and the PD-X targeting market. a of our billion I-O antibodies CTLA-X zalifrelimab over and $XX

This novel from balstilimab. our to anti-CTLA-X of more the extend expand combining generation our penetrate is multi-T this XX% anti-CTLA-X. And first PD-X to a to to cell patients responding the patients approach market with our and XX% engager molecule generation than of designed includes benefits current next AGENXXXX of

and in for $XX XXXX. billion monotherapy importantly This partner position growing of antibody. by This a advantage molecule as combination potential expected the but superior Agenus market over most to oncology reach take superior a will our to anti-PD-X has the profitable

for and providing conference. for cancer major very data you will upcoming a field look be how patients This could treated. us at forward detailed We the is of and be and Agenus an to more time for medical patients. most exciting for transformative This importantly for

Now, will Garo. call the I turn to over

Garo Armen

Jen. It very you, a exciting us. Thank time is indeed for

by a collaborators. our developed more employees in which of than pipeline us XX the and of XXX XX of has company discoveries, Our clinic are

mentioned, PD-X. the for we launch Jen the checkpoints two first commercial antibodies are target our which of preparing CTLA-X validated immune As and

for $XX the antibodies alone represents expected revenues. billion annual the $XX in The this to anti-PD-X revenues Today’s these next billion year. in to billion is revenues annual market five years. two market in grow targets immuno-oncology will exceed XX first overall The for

The with recent from CTLA-X, in explosive the growth with the of the has combinations or that’s chemotherapy, come anti-PD-X either in Keytruda, first two Keytruda is combinations Opdivo, which case Opdivo. and with case of antibodies,

call so to we – the which sorry, of which PD-X that’s zalifrelimab, existing CTLA-X We be call will call I’m believe the will from balstilimab, reference easy I – that’s will your convention with easy it. I’m reference and our a here, this take be for your market which bali, for but zali. slice I’ll able I deviating

We believe a said, we’ll combinations. to this as able slice of market existing take, zali and be with bali I our

the a PD-X CTLA-X to we there, PD-X be second lot of in are out combination the market. expect antibodies there While plus

importantly, well significant PD-X, offered Keytruda if most has as But our leaders, superior be, believe represents patients, to combination the our by and could plus AGENXXXX and to then provide bali, we what that’s it today’s benefit as potential a AGENXXXX our combinations the shareholders us potential opportunity. market Opdivo, this patients, is to

pretty add your mentioned, This you So is solid know know, much to X. what a PD-X again CTLA-X for as Slide reference you when tumors. rate of response Jen across We outlined that of expand and we in today. multitude responses durability

list In Opdivo. grow. and different combination clear. trend XX all XX to with we of PD-X approved this this with Yervoy indications, tumor the approved Yesterday, another is become has expect PD-X those of in And combination types, eight CTLA-X example, received for in approval

a can form our partner as the antibody also molecule Now substantially differentiate this more of PD-X PD-Xs. AGENXXXX. bali for our imagine but from active can PD-X bali We in combination our existing monotherapy believe the registration advance the

to than As Jen much who designed we targeting first larger patients population antibodies. patient benefit to generation this CTLA-X a the mentioned, respond molecule

the particular a and benefit which CTLA-X. with generation way, patients of to polymorphism XX% believe result, This, as it’s a by Given addressable we of compared first major more this event. designed the to AGENXXXX the XX% prevalence addresses

this data with PD-X clinical Phase with bali. expectations antibody from well coming as in trial is own in as of in As our targeting far as monotherapy before, so you activity molecule X combination heard our the our for the line both

partnerships United States the We CDA with major for ex-U.S. several principally in retain companies ourselves. discussions to plan much AGENXXXX are and for currently for under for economics the of

me something back reflect step unusual. Let on and

As you you know, coronavirus the give crisis. brief world we is crisis. the are in a how I’ll state of on update managing a

by States, United and executive took our that’s our – ago, way to team took our outbreak business. families proactive executive place and two employees, the protect our our team aggressive weeks in measures coronavirus Before the

exposures protective with measures decontamination between open gather and have dialogue our and attendance, in measures We implemented supplies we to employees equipped aggressive bans travel work as and conference and transparent on regarding during an hours, and continued more data. instituted

period implemented that protective as as numbers today quarantine of a of kind forward. have and who a we tiny what potential risk risk you tiny maybe exposure to We because but quarantine three-week are handful for these factors, at affected measures have well going also employees by those and due hope any we’ll our keep

been that for diagnosed home can clear stringent most event measures, their remotely. who employees implement seamless have In to are from duties fully our of of the it work need make geared none with to want we coronavirus. also I more for the perform

yet. there not We’re

highlighted summarize and year. Finally, more looking you will to a I of even give an an financial We’ve XXXX. Jen forward guidance XXXX the had the points outstanding quickly and we’re for few outstanding

transactions. and $XXX we As four in royalty Jen the raised and mentioned have a years, past million partnerships in half

the year Shingrix its and product is and realized QS-XX. We X.X blockbuster after monetization from second continue our in the of in This sales billion to a proprietary benefit launch. GSK performance containing

not we are delight years. of year. announcement receive week eligible past non-dilutive as a sales stock the to this to as consequence the we we offering the of said, come of expect long-term to these in additional to have addition I shareholders, this payment, make million five $XX $XX in milestones In which we all had to million marketed an made And a a transactions, of our

significant we progress programs, result cash year, to we milestones operations million our about payments to in royalty collaborations expected expect cash reach new can into to XX our expect company. year infusion importantly most Based enter and this continue the this but existing of which into largely to on collaborations from from which finance the are

Additionally, from additional we without in to transactions time capital a may marketed infusion offering. time for engage

of cash XXXX ended We XX.X a million. balance with

this milestone year. this We far, bit with we expect $XX That balance said, milestones partnership additional approximately of approximately the payments year in transactions as in I include But is so million first quarter we not in expect does quarter year, expect This to this our first higher year. cash. the trigger, on happen million close or for to to position. quite a the cash than $XXX the year-end of based transactions

I So later with Christine? Christine that, will over we will to turn and questions. this take

Christine Klaskin

Thank you, Garo.

the we compared cash million $XX million Cash to to mentioned, a ended used end ended balance cash for $XX XXXX. to December a the ended million. just was XXXX compared of as million for period $XX operations of operations in $XXX compares Garo was of in balance same in This million used at with As December year for XXXX. quarter XXXX. same $XX for the period the $XX in Cash the XXXX operations XXXX in million used

or year For the net to last XX, $XX for loss $X.XX of a per reported net $XX million December of XXXX, or same compared per a the share million, we share. period fourth quarter $X.XX ended loss

For we in compared per million loss loss to or net $X.XX the $X.XX a share. million the a share or of for per ended net period $XXX XXXX XXXX, $XXX same of year reported

revenue milestone. revenue earned December includes During million for transaction which the of royalty year $XXX This we year recognized compares revenue with a of ended non-cash ended the from sales Gilead, to XXXX, million royalties our $XX XXXX. and

XXXX, ended also of non-cash to related year of future to the HCR $XX with the recorded interest our million royalties. expense we For sale due transaction

I’ll now turn the Garo. call back to

Garo Armen

Thank much, you Christine. very

questions. ready to take I think, Rocco, we’re

Operator

Thank you, sir.

ahead. go [Operator session. question Mayank first We comes now question-and-answer Instructions]. B. from of Riley FBR. begin Mamtani the Please will Today’s

Mayank Mamtani

Thanks you on productive my and congrats to XXXX. question a for taking very

Fast combination needing making filing, a including X for Could It this Garo what you possibly a anything So from BLA thanks designation. rolling rapid might you like Phase standpoint complete clarify that data Track to dialogue and easy. further bali-zali enabled be if just a seems may had little study? from the you on more first it have

Garo Armen

Sure.

be will happy question. Jen that I think to address

Jennifer Buell

Mayank. Hi,

to in our clinical that We have available we a of more much as position deliverables. respect wonderful now, number agency the mature product can ready. also are a you see, we we’ll is as a rolling submission commercial with have very have be a we set interactions And we mentioned our clear conducting with data. product and of readiness, And and

So have the have met our to completed support and needed accrual we to that our requirements target we submission.

process We mechanics for are doing now for in data cleaning some of and submission. the the of readying course

respect to and the our have meet the patients check that for deliverables to what to incoming, achieve order manufacturing our for we with clinical need are our all So to the that box we need data incoming. of submission, clinical in we

just a it’s the getting for now the ready So of data it matter publishing. cleaning and

Garo Armen

And be the for that a FDA months sure few make of in with hoping we’ll we’re the next to this aligned meetings series submission.

Mayank Mamtani

if rapid that at you the Phase Okay. study, a role could all? provide from X play color Any how could

Garo Armen

-- X Phase

Jennifer Buell

rapid The study.

of and the additional to data access also oncology gynecologic that to can us data this group. an but a in is our that not it to study. for base support launched continue It’s data role will approval. our with the to women important the for to cervical with safety study enable for So it is data course contribute base only play full continue And we cancer, collaboration therapies is and

Mayank Mamtani

strategy also Got as active going think in think it about also, zali in When and have cancer more to your and could dose on you XXXX obviously it. to you about are more potentially could types expanding LCM, tumor adhesive. Thank your tumor beyond the seems your longer-term portfolio there many thoughts zali like maybe think And broader get of cervical then to what the two higher molecules more and types? the then and you coexist value how you. latest about exposure

Garo Armen

Okay.

Just then up. a ask I’ll comment to and it Jen finish

CTLA-X, of moving it. is The doses higher whatever believe that don’t is from higher you high doses. field zali, is misnomer. all, of tells a First better, And away

antibody frequent different intervals administration poster there I ASCO better, lowest – of levels not different less compared dose In and this concern if last a of dosing fact, was as a there at just know dosing CTLA-X wonderful more and the think effective, higher and poster frequent was was administration that I And and lot year that doses. demonstrated than tested as as the add Jen’s matured speak, gotten higher responses misplaced we suggestion seen durability Analyst field from the to might doses tested? unqualified – and I the by after not our Day and better. are concern was the our directly low responses medical have an that experts, at in so wouldn’t And is you’ve dose, the why data, data have

that, like anything would With sort to you this put add So we Jen? to of misperception that, to rest. to like would

Jennifer Buell

effectively no Sure. And coming immune-related and allows to profile should a to dose to we the few reveal together. tolerability also to real to put I and data breakthrough will acceptable a you just and a tolerability which presented say safety PD-X patients due toxicity, with that the frequency have is off dose that CTLA-X us

of the responses. rates deck – the CTLA-X of Now durability all response to presented addition we PD-X opportunities and types slide in which and and of expands our our in have tumor

tumors labels. of of get second opportunity And Some those to into of generation these our first indications. their our market, take not programs, the as we to have programs combination advancing do some advantage these the

patients not component. Now which AGENXXXX – biomarker that patients XX% of is to to generally specific go and and this don’t data being infinity T study. important low cells. in that Both our is AGENXXXX. studied it allele, CTLA-X is very of so patients, of breakthroughs AGENXXXX with an feature to We Day primes allele. XX% that first through cells. the of to the appears are polymorphism which a that and not AGENXXXX in respond respond about may shown that’s our what patients respond a a very next designed we beyond be exhibited deplete it our expand additional and we during of specific that this was noticed respect who who the only getting signal complete you polymorphism genetic gen have one others and is generation appear T gen is zali kind responding respond first generation patients to and exhibits I-O. actually and regulatory patients That’s this do it to response presented that to The now polymorphism, to when XX% have those been were CTLA-X, population that that of a exhibit a to genetic do first presented real is patients XX% have AGENXXXX. very we They of what AGENXXXX, noticed patients which they that that designed that last the we AGENXXXX benefit in our Investor in active to is those importantly something or also who have to

us demonstrates also we’ve gives combination gives generation PD-X. a cell in PD-X molecules. that these that some want So any our us well activation development. a respect That first superiority T priming, And to superiority with we CTLA-X how a to monotherapy distinct PD-X; opportunities to as of develop as shown lot in for pre-clinically flexibility with and as AGENXXXX

Mayank Mamtani

this – new Analyst I that I about Did in with seeing? If the responses maybe color. XXXX that some incremental say CRs saw endometrial at are clarification. that helpful know talked but what you was – I had CR you the partial you the Day, in the the that That’s missed you’re could, you of

Jennifer Buell

including also medical doing soon. the say, so is more this out yet beyond it not so major we’ll cancer. endometrial disclosed anticipate you’ll have see cancer endometrial of but data. But coming We we data Mayank, at conference, a

Mayank Mamtani

which disclosed, three assets. you said this my readouts Understood. year three last have of six And you question,

you And ones that you maybe payment, more to also come Gilead are million said you these? does the specific? any just maybe about XX from the then wholly the color be this owned if on partnered include can tie could the that from year could then talk I think these whether the recognize one, million including So or can these which milestone could incremental this XX that you molecule, Shingrix three collaboration, to you but And collaborations?

Garo Armen

which are receive. specifically we not the other which million we million we So already breakdown additional XX expect QS-XX total say million of to or the But milestones, XX three if that are than to have achievable you milestones based disclosed have fact XX which from that milestones, it on three milestones, and conservative those readily received of milestones sort we in disclosed. suffice not smaller very already have assumptions There will. the achieved

So in half half year. and of in will of the second the happen some the first will year them happen of others the

as is account – said, pipeline. are think our additional this taking in what Now, not I’ve that into collaborations we are collaborations new

collaborations new But So exciting result are management well. us these that’s collaborations. new clear, infusion significant to to just on in into what’s can the dependent practices because be as company cash cash not our

and will happening. not that our So and That’s going not basically expenditures accordingly. collaborations we’re managing happen praying hence new

Jennifer Buell

your first PD-X through data so analysis about preplanned our mature question and the we’ve cervical interim zalifrelimab interim as cancer. go generation the a analysis well balstilimab, publicly to as and our for Mayank, combination presented from clinical of second-line balstilimab that were now antibody in data readout, what more

two from some AGENXXXX data also of first So presented We’ve that the trial. the we’ve our programs presented. those were clinical

the Treg-depleting Incyte have and also This being the at monoclonal have is haven’t a we programs in by AGENXXXX. combinations here very are are clinic about that OXXX spoken of include Agenus with from ILTX we programs we the are about is different an discoveries made in readouts be the Merck. data developed we antibody But other bispecific. programs our And capacities clinic, which they’re currently and the clinic LAG-X, we the and those anticipate selective those independent which in talk that of that specific GITR, Now TIM-X discovery in. advancing that intratumoral and are in we would that number the that is

That co-expressing and advancing combinations. proteins molecule So is within molecule is on cells designed target T clinic is the to the tumor regulatory in planned with microenvironment. this

dose as This profile agonist. and This That development with the the of Bristol-Myers also or We CDXXX discovery differentiated scientists immunogenic This at our disclosed well. has an been kind Agenus hampered have toxicity AGENXXXX. agonistic as CDXXX has well been molecule a created is this escalation is expansion associated molecule. Squibb’s liver a CDXX finally, the that time that GS-XXXX. have Urelumab. of antibody. to trials which molecule It TGF-beta advance – now now Gilead, bi-functional that by a is as the molecule designed without in is targets disclosed is have And targets this is

important designed tumor that the and TGF-beta both escape clinic pathway these is because well mechanisms of are molecule so So and also molecule. as the a in to That adenosine important the GS-XXXX mechanisms in address molecule pathway as single is was advancing.

Mayank Mamtani

A [indiscernible]. so Great. Thanks on, wishes another questions. my my taking for for good going lot best

Jennifer Buell

very Thanks much, Mayank.

Garo Armen

Thanks.

Operator

ahead. [Operator Today’s Please William comes go Instructions]. Blair. Phipps from Matt question of next

Robert Andrew

This guys. for taking Matt Rob morning, Thanks for Good questions. the Phipps here. Andrew on is

just think mentioned CR you’ve and from some in I deepening of stable confirm, So to balstilimab/zalifrelimab combination, responses that PR. from disease to the to PR seen so you

two and from In the like from to when release, Can it press prepared your clarify new responses. there? two one at assume in the terms XXXX CR Is in program anything in more just new responses and additional got whole in PRs you’re it remarks duration we of highlights consider where program And that said that? than so terms response. that? on think then in or far or program can you program you PR that maybe you’ll there then any the one you’ve of So that details on in here conversion I updates additional

Garo Armen

Thanks.

tell bit background. a little let me So you a of

a escalation mentioned, Jen as study. know, is you dose As this

milligrams we and kilogram. four up then went patients And So this kilogram at patients milligram X per cleared – four and we trials X started tested per talking per combination went X.X again, we’re XXXX we now. at kilogram We kilogram. we Then about X.X X.X PD-X. kilogram at the once to to is dose, we tested our went balstilimab, that per the dose per plus dose, milligram milligram up to lowest milligram lowest

the is happening. Day in that is we most But only what coming you let response one abreast the we’ll monotherapy. was of X.XX keep as we data milligram of important Analyst will had event, kilogram at So the here you at that – and per And is continuously. thing time that as complete

as X So that response was complete a mg monotherapy. per at kg

we Now it’s is last people well, two responses X.X additional be be sure hence concern. the so longer weeks only with but today now of this great to a that say, patient that’s only mg the one disclose when and patient. How at that had kg came trend? and one concern decided that could in per real two will developments the combination this And in, balstilimab, we no a we

Now is very we because think that one a denominator this still small. is trend the positive very

Okay.

at of this making medical splash ambitions big a with we the have conference. a obviously Now

some to And evaluate to so or have dribble week by not a do as more whether out medical data keep in, we week as it conference. or comes for we we

will we Does some clarify? Matt, the for reason. so sounded And of you let accordingly. plans different you that know

Robert Andrew

that’s Matt It’s and why. Rob on for

Garo Armen

I know.

Robert Andrew

no Yes, great. you. Thank that’s

Operator

from Ladies our at [indiscernible] go and comes question gentlemen, Please next Jefferies. ahead.

Unidentified Analyst

for is Jeet [ph] Biren. guys. on This Hi,

me. one quick a from Just

approach your to the about indication, launch. for think for had market highly guys you innovative As think looking you said Jen, your that I second-line cervical a you’re launch

little color was of hoping Thanks. perhaps provide bit on that? you I just So could a

Garo Armen

payer and not something with say standard willing kind we But are do think we not us I of as that that the assure as to of it. to of outside industry payers, an very we’re this right will you that’s doing suffice to very, way way providers doing be industry things groups with Imagine launch having collaborative envisioning standard the discussions Well, now. are help it I it. well

course with initial believe up there the of associated innovative it, launch offset this strategy, risks. that ramp are Now risks associated our with will we but

Unidentified Analyst

me. another perhaps And that’s Got from just it, then helpful. one

at Analyst perhaps Day, little at a your that said you poster on think update had a AACR. or I had bit you’d XXXX data of a

Now see that something on you a another Thanks. conference year-end perhaps perhaps towards tighter or update been a postponed, XXXX. more of little perhaps be on we perhaps guys guidance have this that’s a Would could bit sooner? when

Garo Armen

it’s way data. fair order, that we to I think we say disclose have innovative to the be this in world also new in

through reviewed a So to peer dependent disclose our process AACR in even does perhaps we matter. and data on a we format have you can for or go whereby it – that expect will ASCO us not is that

Unidentified Analyst

That’s Got all questions. it. Thank you. my

Operator

ladies our to to over for question-and-answer back I’d the includes final turn like conference gentlemen, And Armen any and this session. remarks. Dr.

Garo Armen

very you Thank much, Rocco.

we We forward And will attendance. and discuss contact look if them time. please everybody’s will much any very questions, to for the us you Thank have next offline. you other

Operator

today’s concluded you, Thank sir. attending presentation. Today’s for all conference has now and we thank you

your You have a and day. may lines now wonderful disconnect

Agenus (AGEN) 12 Mar 202019 Q4 Earnings call transcript