Cash-poor Agenus finds it­self a gen­er­ous part­ner in Gilead, shares surge

Can­cer drug de­vel­op­er Agenus had a tough 2017 — it had to amend its an­ti­body deal with In­cyte $IN­CY for a quick cash in­fu­sion to over­come a painful tri­al set­back for its lead glioblas­toma vac­cine, in a se­ries of events that cul­mi­nat­ed in a re­struc­tur­ing. On Thurs­day, the Lex­ing­ton, MA-based com­pa­ny had some­thing to cheer about as Gilead $GILD signed on as a part­ner on up to five of its im­muno-on­col­o­gy pro­grams. And cheer it did in­vestors, who lift­ed the stock $AGEN a hefty 57% pre-mar­ket.

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