The latest update is out from Agenus (AGEN).
Agenus Inc. has struck a deal with Ligand Pharmaceuticals, selling a significant portion of its milestone payments and royalties from various licensing agreements, as well as a synthetic royalty on sales of two of its drugs. Ligand will pay Agenus $75 million upfront, with the potential for additional sales reaching up to $200 million, plus an optional $25 million investment. The agreement also includes a warrant for Ligand to purchase Agenus shares, reinforcing the strategic financial move expected to conclude in May 2024.
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