AGEN - Earnings call transcript Q4 2021

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Operator

Ladies and gentlemen, thank you for standing by, and welcome to the Agenus Fourth Quarter 2021 Financial Results. At this all participants are in a listen-only mode. After the speakers' presentation, there will be a question-and-answer session. [Operator Instructions] I would now like to hand the conference over to your speaker today, Ms. Divya Vasudevan. ahead. go please Ma'am,

Divya Vasudevan

that more thank timelines being for we available webcast replay. remind website and statements, include SEC statements Today's development, statements including on to are regulatory us call including for regarding you to like is and I'd call risks plans on refer and you our release you, will joining forward-looking all details and today. our this and Thank will commercial clinical data for partnership and you risks. subject filings to our timelines uncertainties, and for these opportunities. These be

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

Executive are over that Operating President Officer; Garo Chief turn of Dr. and O'Day, of Officer me Chairman and I'll the to-date Therapeutics; call Chief to SaponiQx; to we Vice the Officer; have Garo? Dr. Chandresh Garo Harjivan, of Dr. today year. Officer Christine MiNK Chief Steven Finance. Chief Executive progress this Klaskin, Medical highlight that, Joining Buell, made With Armen, Jennifer

Garo Armen

you, your your for Agenus. in participation Thank Divya. interest you and Thank all

go time I that the our As on referencing I'll appears screen. on your presentation time from call slide numbers be through to today,

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is the Fc-enhanced to botensilimab safety CTLA-X through As improve Slide efficacy shown blockade and of three primary X, on mechanisms.

of do counteracting approved through to not increasing is regulatory First antibody. activation, and improved suppressive memory in cold typically respond T-cells, tumors to the to botensilimab all potency priming, benefits T-cell activity achieved curative formation immuno-oncology designed extend This is immunotherapies. one that of the by immune

at cancers. clinical demonstrate treatment responses presented nine across botensilimab the cold resistant As and to is inhibitor CTLA-X first SITC,

designed clinical of in benefit and in approved, quarter only such benefit already to less in a Second, CTLA-X in botensilimab survival expand patients hot is clinical than long-term the tumors as third results where a of but patients. melanoma, is

is there of to room improve So here. lot a

generation treatment no and observed reducing been is observed in carditis, have finally, with so across safety neurological cold pneumonitis, by to that toxicities outcomes We responses patients, express to botensilimab or associated side both poor effects their designed discontinuation. hot who cancers Notably, improve biomarker cause And have far. first eliminating CTLA-X.

Dr. one over Officer, field with Now upcoming to the call review Steven Steven? is that, to experts turn the Chief who botensilimab. global our this to plans our of I Medical O'Day, for like would in

Steven O'Day

data in II observed we continuing in Thank the we and cancer you, Phase expand cohorts disease Phase Ib the pancreatic in colorectal component Building Phase to studies I are of and the will initiating cancer. trial, our upon Garo. be melanoma, trial specific

where order melanoma, in is and one, single superiority been demonstrate a in the to as carefully to have these has We first indications ipilimumab most studied agent. approved chosen ipilimumab

cancer. Phase MS standard And builds by care botensilimab the colorectal chemotherapy with in by tumors in established botensilimab combination three our as agent of stable combination signals observed pursuing in cancer. combination PD-X botensilimab in study Second for cold evaluating I upon in a pancreatic our chemotherapy with superior antibody in

elaborate melanoma. First, I our will approach in

to metastatic a interested the The patients and in study. a At agent refractory year single six reported particularly a both patient response confirmed progressed my physician, treatment with approximately monotherapy agent, after in and PD-X the relapsed melanoma in progressed enroll in and patient week adjuvant to Since, responding options. melanoma most than rapidly ipilimumab first partial effective had at This progress single tumor ipilimumab SITC Response observed and melanoma. need second treated are in months. previously background with scan. this we PD-X of am we botensilimab more majority my within a XX% network setting with reduction and are have As execute within their SITC, I more a XX% subsequently rates nivolumab and of patients melanoma study. ipilimumab leveraging

a resistant in setting as We refractory in well melanoma a resistant designed PD-X botensilimab have setting. II as PD-one Phase factory evaluating CTLA-X trial both monotherapy

The of first to superiority botensilimab will patients ipilimumab. historical cohort resistant PD-X compared to allow us refractory quantify in the

are We or a greater. XX% response targeting rate of

explore in very cohort CTLA-X patients can a options. second relapsed/resistant and with whether rescue treatment PD-X The population limited botensilimab will ipi/nivo failures, patient

addition monotherapy conditionally to cohort active combination in AGENXXXX to In has a evidence and therapy have we CDXXX toxicity our excited and a clinical is clinical patients that combination with Phase agent in expanded I'm stage potential immunogenic a of melanoma now in of to liver scientific To-date, checkpoint stalled our without melanoma represents as other this single tumor the recruiting early trial demonstrated botensilimab. and our receive antibody antagonist has be advancement. PD-X novel botensilimab are resistant/refractory AGENXXXX program. particularly study, designed tumor, Xb of AGENXXXX CDXXX agonist CDXXX a the AGENXXXX activity agonist botensilimab about microenvironment.

median second Stage options third with U.S. XX,XXX as survival over generation in stable patients disease responses cancer, majority response we and Next, MS at to only combination microsatellite the rate drugs disease stable In and data are standard-of-care planning months. X% claims and a rates treated which are or cancer of has our approximately the and poor are PD-X line other immunotherapy. Phase first combination ongoing balstilimab our botensilimab standard-of-care cancers we in and MS correlates colorectal only where Colorectal in In the the shown limited to-date our poor progression-free our This and in months. balstilimab reported for of classified colorectal annually with botensilimab rate rare study two combinations with best-in-class cohort, development. control. to CTLA-X/PD-X Approximately have with MSS, favors X XX% positively XX% competitive setting, of landscape colorectal stable are responses to or control six XX% a single-digits, X response potential in responses compared lives XX observed and

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tapping solid tumors. CTLA-X with synergistic path across forward potential next-generation chemotherapy into multiple Our combination the the approved chemotherapy could of while accelerate with strategy combinations

X and set trials. Together to both different X actively up non-IO agency settings Now combinations in designs. trials we Phase are working and across different these de-risk these combination trial the IO Phase with finalize with botensilimab

demonstrated As X, indications data been unlock or further where positive Slide franchise has ipilimumab single a potential supporting development combination agent the or on shown botensilimab, in as can studies of these in in benefit. approved

shown As will to not. well has the other clinical CTLA-X now turn indications where but over have back call as botensilimab benefit, Garo. expansion into agents I

Garo Armen

very much, Steven. Thank you

As being annual capacity will botensilimab, to building will experts Emeryville an yet development additional have which not billion approximately site, acres including you for the that XX for land successful trials north potential each also support allocated and internal trials, articulated, potential constructed probability of potentially with Emeryville attend our our outside we're at in-house to to global development be the at outcomes. global And or of to future that Vacaville In programs is launch our experts to example, manufacturing are one be either design of Dr. XX site, clinical XX and over we're our of to if our we our what manufacturing look parallel contemplated, to facility. expansion. miles in support planned infrastructure efforts, working with high these determine O'Day sales

about talk a AGENXXXX. is a is which Let This happen will new it's this to resistance it CTLA-therapy. about program clinical program macrophages, and novel is me targeting tumor-associated that and to start, promote year and PD-X also It AGENXXXX.

target we are discovered with class that has very address been antagonists validated program to currently to shown advance route licensed rationale is this cancers. gone that I-O a additional With And this so durable addressed importance there therapy. has needs we to The strong targeting being have responses to as of by Merck's why cells. Merck. ILTX resistant And Agenus by myeloid discoveries, continue AGENXXXX, PD-X and in not

pillar, to leaders. retain we turn far, while partnerships, accelerated to Slide programs move ownership you have programs of in If I our of strategic through we our partnerships partnerships. so Strategic will select the majority X, industry now developmental second the with

six trials discoveries innovation advancing of pipeline today, reflecting are and partners Our our productivity. clinical in our

It to AGENXXXX. therapies Our very as as stage antitumor and with BMS in intense currently tumor is in area to we TIGIT cell dose the an clinical immunity, inhibitory cancer. addressed TIGIT of in to to agent. high year, immunity. T Fc-enhanced AGENXXXX bispecific promise non-small priority improve single-agent lung most indications, Phase to are on recent form show when trials is BMS botensilimab, single a yet advance Similar escalation antitumor large AGENXXXX secondary X was executed partnership exclusively last where BMS to to also NK a development and cells out, indication licensed including promote receptor promote

with option have received across U.S. XX increased from the in million already co-development, royalties BMS milestones $XXX upfront and co-promotion. We a retained and and achieved months for past the for co-funding

refer MK-XXXX. just to while little which molecule, we is ago a Another

pipeline our capital commercialization. development partnered that combination candidates, trial by stage development is evaluating LAG-X cancers, discovered including This in and renal, generate our As relapse/refractory in participation in Incyte our of are, support agent Agenus. and range as clinical unique eligible and our partnerships for and for royalty. Agenus discovered a development antagonists of our PD-X Then breast, I future PD-X milestone $X.X optionality targeting a first one initiated to further recently and pancreatic, partnerships. Across our we have clinical advancing with is billion advancing program development we plus said drug glioblastoma. earlier, accelerate a TIM-X Merck melanoma. may ILTX in discovered myeloid programs MK-XXXX lung, mentioned ovarian, the programs, across gastric, Incyte These earlier, of is I clinical was offer antagonist antibody

second comments X has response exhibited and also pillars date. excellent in the the of demonstrated of Let for is about evaluated of XXX our trial for third line XX% patients. in as agent in such response In to the me a PD-LX now make a models. which reported Phase rate XX% antibody, a botensilimab business This patients, cancer these Enablers, few strong profile botensilimab. cervical safety PD-X positive to activity PD-X pembrolizumab, over clinical one represents a improvement rate only approved botensilimab patients

patients. balstilimab positive has who generation These first no believe limited for to or antibody, our metastatic rate are cervical zalifrelimab the in improvements or major plus we XX% with response options. CTLA zalifrelimab, PD-LX PD-X for increased very patients have with combination in Now,

submission BLA regulatory a has suggest meaningful on trials been the based improvement therapy. the challenging arm a these available environment, given While U.S., data single over in currently changing

a about with as Next, SaponiQx. combinations. therapies of as Therapeutics MiNK very underway has and complimentary allogeneic programs I program. independent multiple Chan very turn it And This resources therapy well I Clinical are pillar SaponiQx, last myeloma. tumors cell address our and related yet you and solid before technology, iNKT be year SaponiQx. model, making support retaining in advantage I in the importantly, of briefly of business to flexibility fourth Operating over lastly, progress if Chief greater will MiNK Chan clinical immune IPO an the antibody Therapeutics while cell is at our refer cancer will our exciting the to to and a Establishing will to MiNK comments diseases. development we’re subsidiaries And for financing and SaponiQx. make of who launched Chan, distinct provided leadership Officer some summarize can

Chandresh Harjivan

discover has really and U.S. an Yes. opportunity government the over long-acting part as last Thank the the effective address really for to I platform, durability you, We to The response years. data world Consulting and by settings. nine disease our other pandemic. team. more of the SaponiQx diseases. joined than and years QS-XX Garo, boost in broadly, become the pandemic SHINGRIX working excited The to something the exceeding efficacy STIMULON amplified heart threats XX grossly I drawn serving as be by was need the to protection has preclinical partner the can’t current close and build to novel integrated and year support and been Group. of every offering after my vaccines vaccine more months. Clinical applicability vaccines, validated on broad efficient across to production six advisor Boston with COVID an to at QS-XX adjuvant this build offered

Chilean soap However, from a extensive to and process supply bark. on QS-XX tree complicated constrained is a its due extraction reliance

developed cell next-generation offers manufacturing So culture more of sustainable, cost culture cell Plant method extract. bark method and effective at versus scalable adjuvants. plant of SaponiQx, a manufacturing we QS-XX and QS-XX, a have

response efforts to pandemic this to in to We With delivery, and And and throughout to manufacturing to commercial turn to threats, discuss particularly are with Garo, from I’m for from expect with to developing these other call launch. a material critical over our COVID-XX, intranasal the innovation partner this in also through clinical vaccination a experience Thank the addressing year as to respiratory very strong platform immunity exciting trial. also have potential which financials. world GMP we you. design, built new rich enable mucosal Christine increase that, going but Klaskin novel leadership the is vaccines, inception adjuvant process objectives We’ve team achieve advisory disease categories. pandemic such

Christine Klaskin

$XX ended million revenue fees XXXX revenue XXXX received, earned XX, includes related with compares revenues to of our collaboration at short-term recognized which and upfront agreements. Thank million. you, cash XXXX the We This December $XXX investment million balance our Chan. We $XXX for of under ended and year December recognized the XXXX. license non-cash royalties $XXX and XX, respectively, years to and a million

by $XX $XX Our was compared net net December ended $X.XX reported the of XXXX compared XX, or compared share to year with year and XXXX ended the for operations the million the or loss quarter in per ended used XXXX million $XX loss $XXX expenses million $XXX year cash share in year period million to net $X.XX $X.XX a same XXXX ended were million December $X.XX for $XX of or XXXX. of share. $XX a per the a per provided million $XX operating operations million Non-cash loss was for cash XXXX Net to loss the for of ended per for or million for fourth XX, share. a

quarter ended December the million $XX to the for back to in used now Garo. XXXX. same turn cash million operations For call the period I’ll fourth was XX, in compared our $XX XXXX,

Garo Armen

Thank you, Christine.

we focused medium-term head and we value As into are several near-term XXXX beyond, and drivers. on

of study five, Three, GMP GMP SaponiQx’s to novel the in VISION trials. medium-term, strategic And Four, through to with pursue a new we we combination very which QS-XX collaborations, CDXXX method over under clinical effective of culture Emeryville program paths several and pursue And trial collaborations existing agonist AGENXXXX initiate our STIMULON partnership targeting enable macrophages. much we expect we continue have and multiple Dadson. conditionally a targeting Slide evaluating botensilimab. in of give Phase leadership Two, done sampling the to now complete will our As in mentioned you And and a progress first-in-class evaluating microsatellite we launch what botensilimab market we you Three, near-term, five, we of open will Four, X as to of for in outlined for facility for melanoma, more accomplish. complete will advance pancreatic Dr. designs. stable In Thank a O’Day I’ll your X Al enrollment questions. One, our Two, to and active additional proof our will the to generate in cancer. Dr. cancer myeloid colorectal continue cell to years. X pursue on trials construction efficient botensilimab associated up of advance consistently plant biology. will stromal Phase for melanoma. tumor study concept programs, grade plan partnerships. commercial platform last the Manufacturing one, five Officer, attention. we Chief for manufacturing

Operator

[Operator comes Instructions] question line Shi [Jefferies]. from And the Kelly your of first

Your line is open.

Jason Bouvier

development Hi, good question our just morning. missed on with a the on for is conversations FDA Bal/Zal Shi. forward, This I cervical, you if you. for Kelly combo combination. Thank and if Thank taking you had still Bouvier and you’ve considering I Jason for But this. that path are if possible or forward any apologize on the path wondering

Garo Armen

recently bring of requirements to BLA are new pulling in Clinical the been makes actually. example, conferences. It’s trial to good believe criteria at our that of the been in their last the to arm money honors But and for single of the unfortunate so randomized has Unfortunately, the path that their agency’s meet window Journal from of that benefit trials, the trial because published own trials is U.S., street some like, by sense Very our in that for spend from some question, the is has closed. indicated we shown even two because for example, them believe just don’t closed. that And conclusion. will the over years, Oncology no it changes trials, competitors randomized benefit we major presented in, not guidance clear patients

as cancer therapy we answer pursue the will not zalifrelimab directly, to therapy agent USA. botensilimab of in very your cervical the botensilimab So or a approval our as combination plus single question in

Jason Bouvier

Got you it. Thank very much.

Operator

line And [B. your Riley]. from of next the Mamtani comes question Mayank

line Your open. is

Mayank Mamtani

our thanks the Congrats questions. taking progress morning. Good on and for

to is the path you on bit refractory starting line like a in just then botensilimab, up. it where said get going Or the some ORRs? metastatic you single terms engage as I it with setting approval first identified to if melanoma a seems accelerate I like understand, you’re PD-X the color just agent Is chemo indications could if already And incremental and of updates target it with these regulators follow Could of on name, with later maybe pancreatic right? or till? more – initial So clarify I lines? also have into we

Garo Armen

Sure.

questions think are I these for excellent O’Day. Dr. Steven

can ask Steven them. I So address if to

Steven O’Day

for Yes. you Thank the question.

rate indicated is optimal single as where the melanoma, One two ipilimumab in PD-X this activity agent in testing Even and an of cohort botensilimab setting or as but an approximately I think settings. safety more resistant CTLA-X we’re cohort has agent refractory, is opportunity refractory that XX% better CTLA-X a in exciting So response XX% for rate with we of targeting naive single actual or a response a this patients. equally profile. exciting patients improved

response So where or had and trial patients who call, and of KEYTRUDA, be and received have in or nivo ipi the look expected setting nivo received ipilimumab if this had received seeing the unmet very our can have X have perform Phase then then ipilimumab and need be setting metastatic patient botensilimab the adjuvant indicated progressed ipi I even sequential setting in And higher. setting. And where is who then to second in had we in the would frontline, nivo bar single essentially the we to already forward in and zero. low either line in rates as the is agent

look over those in Obviously, group world So a X for excited have of are part forward in years by that very that been getting of data areas. I we’re energized our and KOLs melanoma class XX with cold exploring Phase have opportunity the I tumor CTLA-X terms the see really our And prime combination we cohorts. then pancreas, next-gen important in with of this a these next-gen of testing melanoma with in to both CTLA-X chemotherapy. to as

combination moving safety interest we but initial to metastatic obviously once responses be will in second line at have looked this and in this first of setting. metastatic establish so we setting, initially in And line the

Mayank Mamtani

tumor detail. XXXX. – think a like that make that level initial synergistically standpoint? level an for just your sense that to from complimentary prostate, three mechanistic you a maybe or therapy you that you is that high follow-up I/O what Thank not of view then types established like the beyond And as could Could lung, non-I/O on is going

Steven O’Day

where Yes. another CTLA-X, a Thanks. memory with has next-gen That’s great a partner, question. foundational not better profile be a think and with T-cell and priming safety depletion, combinational only better obviously we in can that like regulatory and MS or be standalone molecule chemotherapy PD-X stable or colorectal, potential we’re we seeing in some hot it many partner very think with agent foundational a exciting melanoma signal. can But a tumor combinations. other

combinations three to better PD-X treat whether PD-X single representative see in pancreas, well the outlined very of chemo in areas where combination be we’ve worked in PD-X that more we So sort can typical of tumors. with combination it And a MS not as a very a tumor stable. demonstration with sort then in and melanoma difficult hot chemo agent partner like these a have combination foundational cold and than of

unmet asset needs. I/O the that will different potentially like are we’re tumor tumors – ex-I/O. discussions, very of obviously, much interesting, three the our experiments strategic in single partners other about that up next-gen a it with move other across a outlining deeper big combination resources is lung because and collaborative and prostate forward both and this different obviously So agent as very with types And and three CTLA-X set within

Mayank Mamtani

inform, there? – a quick question. disclosed the that? I specific appreciate Have clinic XXXX ask could Great. to midyear broadly, color And also this And year in the target how more data if you how might for plan you develop would it target

Garo Armen

potential So we’re and contemplating including not partnerships yet. currently path compound, we’re disclosing the any just this Mayank details with forward,

Mayank Mamtani

question are as vaccine? for final intranasal the And on from great. the Okay, particularly How just clinic, you my quickly far was on SaponiQx.

Garo Armen

question mucosal as saponin QS-X. So an you have, very, because name adjuvant. done And family in your of what adjuvants of may is a really potential using the promising QS-X adjuvant very so intranasal of have it's is if as the with the active we know, we do a vaccine

We a that lines source to plant-based many been from developed the enough this promising. improve QS-X known is have very for methodology, have we because culture to that very viable from be for the QS-X, cell a poor but plant lines but achievable the we many, high to in now adjuvant, effective have natural vaccine yields cell yields this cell actually quantities our candidate, express have make with new selected QS-X years

we I so, it to we perhaps that partnership pursuing of take QS-X, are GMP And until and some discussions. experiments think run will but of can have have this, year this so end quantities the

Mayank Mamtani

Thanks so much for questions. taking the

Operator

Your next Wainwright]. question comes Mike from the line of King [H.C.

Your open. line is

Mike King

tumors don't morning if taking the just wanted cold ask Thanks I question. draw single – you into Good guys. considering but to this conclusions, I are for Phase arm these in your III? Phase Or given botensilimab is to that thought of going wanted take – – want with the experience with a some you is from possibility? boten – balstilimab had II study

Garo Armen

definitive guidance. answer me let this very So question with a

us with single the Given arm take will chances Mike, the changing silly it be I trials. environment, for environment, to think regulatory

new within the of necessarily believe patients, we is so that that the however, best interest guidance the our is don't the guidance that called Now control. is in not

So going forward right the in U.S.

think I in will a conclusion that approval. it trials for engage we fair be would randomized

Mike King

Okay. with need? Even unmet in populations

Steven O'Day

O'Day. Yes. This Steve is

clearly I be data Phase and need, a that's exciting mindful discussions trials that, path we agency if obviously develops. these up follow to trials will we best the the it the to with to be unmet very forward. the see to randomized significant be necessary, are II to addition intensive but large that data almost in set we've In as around think, we But data. in be be set certainly confirmatory obviously – want we follow going will And will trials up

Mike King

of II long trial? setting words, Okay. data seamlessly you what Phase of are we're Phase Phase the can use a registration way supportive as that you in you two set that In up the in such the to Steve, a other as about do in II III? talking be might could roll them

Steven O'Day

We'll the information months. coming the agency on discussions in active in with trials. give around We're that these more

very we're signals in efficient certainly, them the these setting. So, trials become possible interested quickly most as as and to moving in strong if a into Phase III way

Mike King

space? what Okay. quick, mechanism you is XXXX gears in Is can associated tumor shifting Or it Terrific. the it target just is? ILTX? then of And another macrophage say the real

Garo Armen

in It's it's yet Mike, the not us target. I think but best the family, specific release for same to

Mike King

that tell your can wonderful – those discovery out And data any coming start is enough. Bristol, further Thanks. to programs partnerships, Fair there might us you we all of mentioned your Gilead, some about seeing when of – but platform? you about then validate Merck, anything and finally, Insight,

Garo Armen

our I programs, year. all some active the at think, mean, Bristol ILTX, with given activity with the and CDXXX, trials these their can't of we the enrollment and with clinical trials see The Insight on of our may various but certainly this Gilead speak, their the you enrollment with compound, Merck, in AGENXXXX. in conditionally collaborators, speed course, all progress with pace of I is patient Gilead that behalf, of – a

to make to we'll I would them. the us However on comments programs be because defer presumptuous it these think for them it and are

Mike King

the Fair taking Okay. questions. enough. for Thanks

Operator

comes from question next [William Matt line Blair]. Phipps of the Your

Your line open. is

Hunter Rogers

on you've cancer. original in of trials Hunter like This XXXX a strategy Hi, bit a just starting up seems couple first, good is for plan morning. from gynecological Maybe your Matt. for of your it switched

sort decision? into what you speak that to of could So went

Garo Armen

is the brainchild audience Sure. expertise from O'Day because sure programs his these input colleagues make with have that understands Dr. types his small in activity in is patients defer trial, tumor which very that unusual, this want we little different given to over almost remarkable XXX to are nine a our with outcome. trial, having respective our fact have cancers I that small a seen shown areas. I'll with activity nine really meaning different

we've this? on and indications, because you the So them first pursue those make data, tumor because and elaborate we regulatory, the to types, XXXX priority such given practical of and should many across will that But the Steven, considerations, would different that we the those promising that in three bandwidth many, more early was like a reward seen pursue of targets. but as risk data

Steven O'Day

Garo And nine tumor question. It's That – strategic GYN the great have broad in that sense said, a malignancies. Yes. types. is, across activity the we answer it's as different

numbers have lot that's diseases. down bandwidth, it ovarian rapidly changing. to-date. that comes what's experiments trying across good do to obviously to a environment forward endometrial both move are with the of we've talked We KOLs But our we really and what activity a in limited will regulatory And and asset

aching is the expanding tumor in that really the stable We very in could are that types, great partnership we think there So for to months, about which but And that be a most those goals but with melanoma the to assets. we really that to many types with collaborations, to our we've addressed. three forward depending carefully. colorectal easily GYN including agent. data huge XX fundamental we lose cold some to agent activity confident we thought don't we And through these our is other ground. put a will sight single is next that that priming think questions farthest MS pancreas immediate PD-X, on combination the exciting, going and and feel our better this along a state into important that's six a of and We look in is unmet experiments need, areas, be dynamic for sort want malignancies very like tumor think think And tumor year. answer this

Hunter Rogers

that then to it's have now more I Phase but three And Could patients assuming maybe indications? trials, that then for response just to-date, still say that. one many Phase you're X hear said melanoma of you you've move to know how maybe treated you sort those And great. maybe in got to those you've melanoma. design, in those you that you'll working be the on Xs are have additional randomized been two for that trials or Okay, are responses. these thinking good will that you Thanks seen randomized

Garo Armen

into much was limited very So without getting to really recently. non-melanoma X the until too patients Phase specifics, trial

Phase melanoma in the accumulating seen refractory X of and hope disease, a coming cohort. the are we sorry, the be you that already And to we what's now two two with months trial. separate we'll more we And these the sort on data refractory launch as in part question? expanding of handful we've then update melanoma of actively So second responses patients. just PD-X PD-X/CTLA-X I'm the

Hunter Rogers

of was I up Yes, coming just those thinking the trials Phase design Xs about not you're the asking whether or trials. be will randomized

Garo Armen

about after we'll diseases. FDA discussion on more in we these release – the the with two talked melanoma, design studies in in details of arm further in the other now, cohorts, single Right terms and

Hunter Rogers

Great. Thanks

Operator

from have We question Instructions] [Operator a Mayank follow-up Mamtani.

line open. is Your

Mayank Mamtani

a I Yes. just just my you financial question follow-up. that have came in. Thank taking for quick

like this milestones if next on bring visibility terms what of maybe clarify bonus is list. upfront you an on anything sort is cash, might what billion in year, Can near-term seemed recognizing potentially just also any have that say there next and could this in you you and of to payment. So just X.X a could color Royal added that provide of accumulative. be there Anything in

Garo Armen

question asking there'll correctly, get that from if it existing partnerships will is during this additional understand we are Mayank, I or of… course more anticipate you whether the payments we that partnerships be

Mayank Mamtani

And anything both. Yes, XXXX keep X.X but that is cumulative think that slide we basically those mind number of on about on going we financials. should as be curious slide are – On this is yes, near-term X, if Slide milestones. to in not then things on kind that

Garo Armen

Right.

different year. get for will that course and also possible payments of we XXXX. will closed this payments year cash, million Christine we additional milestone possibly in different geographies said, enter a or $XXX as with little It's over during possible that year So it's option compounds for into the we in collaborations the this exercise

years make specific the strategy sources thing filing now. for financing one immediate the There not our We've been, And in sure offerings. into that through means, not have our right anything, expanded financings in been we are our generating dependent company with other plus income reasons, that. of our coming one with have no or And in the or today, on potentially options the the so financing. has consistent $XXX markets the that's hallmarks in years. we So of plans of example funding for been been equity consistent of one to collaboration And million we our continues. last marketed strategy consistent over five over

to So in of exercise a way path us until the sorts. for prudence we watershed mega occurs. is an watershed product will continue collaboration we or fund event company occurring And event a for accelerated approval obviously a the

Mayank Mamtani

helpful. taking for you up. follow That's my Thank

Garo Armen

Mayank. you, Thank

Operator

are [Operator no Instructions] there presenters, phone Excuse more questions. me,

may You continue.

Garo Armen

of and very you our your very much questions connect Thank change for you entertain we're format investors constituencies. with tuned and other stay feel free But that. And future, from so interest us. the Thank please to always time may for in the and quarterly communication, In company. to much. happy we our

Operator

This concludes today's conference call.

now disconnect. You may

Agenus (AGEN) 1 Mar 222021 Q4 Earnings call transcript