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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