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Monday, 09/17/2018 7:00:38 PM

Monday, September 17, 2018 7:00:38 PM

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Agenus Receives Milestone Payment from Incyte

https://seekingalpha.com/pr/17271505-agenus-receives-milestone-payment-incyte

LEXINGTON, Mass., Sept. 17, 2018 /PRNewswire/ -- Agenus Inc. (NASDAQ: AGEN), an immuno-oncology (I-O) company with a pipeline of immune checkpoint antibodies, cancer vaccines and adoptive cell therapies1, announced today receipt of a cash milestone from Incyte for the initiation of a Phase 1 clinical trial of INCAGN2385, an anti-LAG-3 antibody discovered by Agenus (AGEN). Based on this milestone and under the terms of the agreement, Agenus received a $5 million payment and is eligible to receive up to an additional $505 million in potential development, regulatory and commercial milestones from Incyte.



... And the PPS drops by 7%? Not sure how this good news translates into that drop.
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