Agenus Inc.: Agenus Reports 72% of Patients with Locally Advanced dMMR Colon Cancer Had No Cancer Remaining at Surgery Following Six Weeks of BOT+BAL in Phase 2 NEOASIS Study at ESMO 2026
Agenus Inc. (AGEN) reported Phase 2 NEOASIS study results showing 83% of 18 patients with locally advanced dMMR colon cancer achieved a major pathologic response, with 72% having no cancer remaining at surgery after a 6-week course of botensilimab and balstilimab. Side effects were mostly mild. The company is exploring this approach in rectal cancer and MSS colon cancer.
How this was made
The 30-second read
Why it matters
The announcement provides fresh, material information that could shift Agenus valuation ahead of further trials.
Market read
First disclosure of promising Phase 2 results for a niche oncology indication; likely to affect Agenus share price.
What to watch
Data set is small (18 patients) and limited to dMMR colon cancer; broader efficacy remains unproven.
Background
Agenus presented the data at the ESMO 2026 Congress; the therapy is investigational outside Armenia.
Ticker impact
Agenus reported Phase 2 data showing 72% pathologic complete response in dMMR colon cancer, a first disclosure of trial results.
likely upward pressure as market prices in the positive efficacy signal
Phase 2 results are material for a biotech; no prior public data existed, and the response rate is high, suggesting commercial potential.
Market effects
Positive data may lift other immuno‑oncology stocks and reinforce confidence in neoadjuvant checkpoint inhibitor approaches.
Limited to US biotech investors; no broader regional effect.
Modest, confined to biotech and oncology sectors.
Counterpoint
Some investors may question durability of response and regulatory path, tempering enthusiasm.
Key entities
- companyAgenus Inc.
US‑listed immuno‑oncology biotech (NASDAQ: AGEN).
- institutionNetherlands Cancer Institute
Sponsor of the NEOASIS study.



