Why Agenus Stock Rose 18.4% on Thursday

Shares of Agenus (NASDAQ: AGEN), a clinical-stage biopharmaceutical company that specializes in immuno-oncology, saw its shares jump 18.4% on Thursday. First, the company on Wednesday said it planned to present data on botensilimab, a therapy that is being studied for its effectiveness as a combination drug or a monotherapy to active T-cell immune responses in patients who have pancreatic cancer, colorectal cancer, or melanoma, a type of skin cancer. Another move that helped push up the stock was the announcement of inside buying of Agenus stock by some members of the company's board of directors on Wednesday, including Susan Hirsch, Wadih Jordan, Ulf Wiinberg, and Timothy Wright, totaling more than 30,000 Agenus shares.