Agenus Announces Three-Year Phase 1b Data, BOT+BAL Shows 33% Survival Rate
Agenus announced three-year landmark Phase 1b data from the fully enrolled C-800-01 cohort evaluating botensilimab, an Fc-enhanced multifunctional anti-CTLA-4 antibody, plus balstilimab, an anti-PD-1 antibody, in patients with refractory microsatellite-stable metastatic colorectal cancer without active liver metastases. The data were presented at the European Society for Medical Oncology Gastrointestinal Cancers Congress 2026 on July 2 in Munich, Germany. BOT+BAL demonstrated clinically meaningful long-term survival in a heavily pretreated patient population with historically limited benefit from conventional immune checkpoint inhibitors and few durable treatment options after progression on standard therapies. With extended follow-up, median overall survival was 21.2 months and the three-year overall survival rate was 33%, with the Kaplan-Meier curve showing a plateau beyond two years. Available later-line standards in refractory MSS mCRC without active liver metastases have historically reported median overall survival of approximately 10-14 months in relevant analyses, reflecting a treatment setting in which few patients have historically remained alive at later landmark timepoints and pivotal studies have generally focused on median survival rather than mature 36-month overall survival outcomes.i In this context, the survival profile, curve plateau beyond two years, and proportion of patients alive and off systemic anticancer therapy support the durability of benefit observed with BOT+BAL in this fully enrolled 123-patient Phase 1b cohort. The data build on the two-year overall survival results presented by Dr. Benjamin L. Schlechter of Dana-Farber Cancer Institute at ESMO GI 2025 and reflect an additional year of follow-up from the same cohort. With longer follow-up, the dataset now includes 26 confirmed responses; median duration of response was not reached; and 21 patients, or 17%, were alive and off all systemic anticancer therapy at last follow-up, including 13 responders. The Phase 1b cohort included 123 patients with MSS mCRC without active liver metastases. Patients had received a median of three prior lines of therapy; 67% had received at least three prior lines, 15% had received prior anti-PD-(L)1 with or without anti-CTLA-4 therapy, and 30% had received at least one later-line regimen of regorafenib, trifluridine/tipiracil with or without bevacizumab, or fruquintinib. Key Efficacy Results: Median overall survival: 21.2 months, with 24-month and 36-month overall survival rates of 41% and 33%, respectively; Confirmed objective response rate: 21%, including three complete responses and 23 partial responses; Median duration of response: not reached; responses ranged from 1.9 months to at least 37.4 months; Disease control rate: 69% at six weeks; Clinical benefit rate: 28% at 24 weeks; Tumor regression: observed in more than 40% of patients; Treatment-free survival: 21 patients or 17%, were alive and off all systemic anticancer therapy, including 13 responders with a subset of patients remaining free from subsequent therapy or death for more than two years. In a post hoc late-line-exposed subgroup of 37 patients who had received at least one prior regimen of regorafenib, trifluridine/tipiracil with or without bevacizumab, or fruquintinib, BOT+BAL showed a confirmed objective response rate of 22%, median overall survival of 16.2 months, and a three-year overall survival rate of 30%. In this subgroup, median duration of response was 16.6 months, disease control rate was 70%, and clinical benefit rate at 24 weeks was 27%. With extended follow-up, no new safety signals were observed and there were no treatment-related deaths. Immune-mediated diarrhea/colitis resolved in 98% of affected patients, with a median time to resolution of 14 days from onset. Treatment-related immune-mediated diarrhea/colitis was the most common immune-mediated adverse event. The selected Phase 3 regimen of BOT 1 mg/kg plus BAL demonstrated improved tolerability, with lower rates of immune-mediated diarrhea/colitis than the 2 mg/kg regimen.
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- Survival Rate Breakthrough: The fully enrolled 123-patient Phase 1b study demonstrated a median overall survival of 21.2 months and a three-year overall survival rate of 33% for the BOT+BAL combination, significantly surpassing the 10-14 months typical of conventional treatments, indicating potential advantages in refractory colorectal cancer patients.
- Good Tolerability: Extended safety follow-up revealed no new safety signals, with 98% resolution of immune-mediated diarrhea/colitis and no treatment-related deaths, suggesting that BOT+BAL has a favorable safety profile compared to traditional immunotherapies.
- Significant Treatment Effects: Among patients who had received at least three prior therapies, 21% achieved confirmed objective responses, and 17% were alive and off all systemic anticancer therapy at last follow-up, highlighting the durable efficacy of the combination.
- Clinically Meaningful Implications: These findings not only provide robust support for the use of BOT+BAL in refractory colorectal cancer but also lay the groundwork for the upcoming randomized Phase 3 BATTMAN trial, potentially reshaping treatment expectations in this field.
- Meeting Schedule: Agenus will hold its Annual Shareholders Meeting on June 16, 2026, at 10:00 a.m. ET in a virtual format, with registration starting at 9:45 a.m., ensuring timely participation for shareholders.
- Participation Details: Shareholders must visit www.virtualshareholdermeeting.com/AGEN2026 and enter the 16-digit control number from their proxy materials to participate, while guests can access the meeting in listen-only mode without a control number, enhancing accessibility.
- Voting Information: Shareholders of Agenus as of the April 22, 2026 record date can vote, with assistance from proxy solicitor Alliance Advisors, ensuring shareholders can effectively engage in the decision-making process.
- Company Overview: Founded in 1994, Agenus is a leading immuno-oncology company focused on expanding the patient population benefiting from cancer immunotherapy through various immunological agents, showcasing its robust R&D capabilities in antibody therapeutics and cell therapies.
- Significant Clinical Response: Among 113 patients treated with BOT+BAL, the AI-identified subgroup exhibited a 64% response rate compared to just 9% in the remaining cohort, highlighting TARIO-2's potential in identifying patients likely to benefit from treatment.
- Improved Survival Rates: In the MSS metastatic colorectal cancer cohort without active liver metastases, the AI-identified subgroup had a median overall survival not reached, with a hazard ratio of 0.18, indicating TARIO-2's significant predictive power for survival outcomes.
- Innovative Technology Application: The TARIO-2 model analyzes standard H&E pathology images to extract biologically relevant tumor microenvironment features, offering a patient stratification strategy that does not rely on complex tissue profiling, which could transform clinical practices.
- Future Validation Plans: Agenus is set to present these findings at the 2026 ASCO Annual Meeting, aiming to validate TARIO-2 as an image-based biomarker strategy for BOT+BAL, thereby advancing the clinical development of immunotherapy.
- Clinical Trial Results: Agenus' Phase 1b trial data reveals that in 19 patients with treatment-refractory hepatocellular carcinoma (HCC), the combination of BOT and BAL achieved an objective response rate of 17%, including one complete response and two partial responses, indicating potential efficacy in this challenging patient population.
- Survival Analysis: Among 18 efficacy-evaluable patients, the median overall survival was reported at 12.3 months, despite 47% of the cohort having ALBI grade 2 liver function, which typically indicates poorer prognosis, thus highlighting the potential of BOT and BAL in improving survival outcomes.
- Safety Assessment: The safety profile of BOT and BAL in HCC patients was consistent with prior studies, with 68% of patients experiencing immune-mediated adverse events and no treatment-related deaths, suggesting that the combination is manageable and suitable for further investigation.
- Future Research Directions: Investigators noted that the BOT and BAL combination demonstrated promising efficacy and manageable safety in post-immunotherapy HCC patients, supporting continued exploration in this area to assess its applicability in a broader patient population.
- Earnings Announcement Timing: Agenus (AGEN) is set to release its Q1 2023 earnings report on May 11 before the market opens, drawing significant attention from investors regarding its performance and future outlook.
- Earnings Expectations: The consensus EPS estimate stands at $2.10, with revenue expectations at $129.5 million, metrics that could directly influence investor confidence and market sentiment.
- Historical Performance Review: Over the past year, Agenus has only surpassed EPS and revenue estimates 25% of the time, indicating considerable volatility in its performance, which may affect market expectations for future results.
- Market Reaction Potential: Given Agenus's inconsistent performance in exceeding expectations, investors should closely monitor the upcoming earnings report to assess its potential impact on stock price and the necessity for strategic adjustments.
- Financial Results Announcement: Agenus plans to release its Q1 2026 financial results before the market opens on May 11, 2026, which is expected to provide investors with the latest insights into the company's financial health, potentially impacting stock price movements.
- Annual Shareholder Meeting: The company will host a webcast in June in conjunction with its Annual Meeting of Shareholders, focusing on key strategic priorities and upcoming data milestones, aimed at enhancing investor confidence and attracting more attention.
- Clinical Trial Progress: Approximately 1,200 patients have been treated with botensilimab and balstilimab in phase 1 and phase 2 clinical trials, demonstrating clinical responses across nine metastatic late-line cancers, which may lay the groundwork for the company's future market performance.
- Development Capabilities: Agenus boasts a comprehensive pipeline of immuno-oncology agents and robust development capabilities, leveraging its clinical and commercial cGMP manufacturing facilities, which may position the company favorably in future market competition.







