Agenus Inc (AGEN)

[H2R]

A couple of points from the CC

https://seekingalpha.com/article/4121981-agenus-agen-ceo-garo-armen-q3-2017-results-earnings-call-transcript?part=single

1 - Looking out for the financial side, esp. with a slant towards non-dilutive:

In addition to our broader partnership discussions, we have recently established a partnering model that would offer non-exclusive access to our lead antibodies in return for upfront cash to Agenus. We have multiple such discussions ongoing with the aim of closing several of these transactions before or within the first quarter of 2018.

last week’s CDC recommendation of Shingrix as the preferred vaccine for prevention of shingles yielded significantly increased market potential with an immediately eligible target population of approximately 62 million adults. This provides us with the potential for additional monetization above and beyond what we have consummated already or immediate royalty realization opportunities for which we are also in discussions with several parties.

2- On the pipeline, talking about the development of clinically regulated checkpoint antibodies, CTLA-1 and PD-1:

We believe we are the only as a company positioned to combine these products in this type of program and file within two years.

They may be a bit optimistic.

3- On AgenTus

Frank Simmons

Good morning. Thank you for taking my call. Can you please be specific in telling us how the current shareholders are going to benefit from the spin-off of AgenTus?

Garo Armen

So, this will be done in steps. As we may have said earlier, the first step with AgenTus is the formation of the company and I know that there is impatience out there to get things done in one day, but unfortunately things do not get done in one day. But we’re diligently working on – having structured this as a separate business entity, now working on business development transactions as well as grant possibilities for us to establish a presence in areas of the business that we’re not necessarily present right now, for example manufacturing which is a critical component of cell therapy. This will be followed by I would say at least a partial spin-off of these shares to our existing shareholders.

I still don't quite see the benefit of this being a separate entity and what it does for us shareholders. Any viewpoint on this one? Thanks!