Morningstar

Agenus Falls After $141 Million Zydus Deal Closes

Provided by Dow Jones Jan 15, 2026, 6:44:00 PM

By Katherine Hamilton

Shares of Agenus slipped after the oncology company closed a $141 million deal with Zydus Lifesciences.

Agenus stock slid 20%, to $3.73, midday Thursday. Shares are down 6.9% over the past three months.

Through the deal, which was first announced in June 2025, the Lexington, Mass., company sold two of its biologics manufacturing facilities in California to Zydus for $75 million in cash.

The Indian company also made a $16 million equity investment in Agenus, which amounts to 2.1 million shares at $7.50 apiece.

Zydus also plans to make payments of up to $50 million contingent on milestones of BOT and BAL production orders.

Agenus is giving Zydus exclusive rights to develop and commercialize BOT and BAL in India and Sri Lanka. Agenus would be eligible to receive a 5% royalty on net sales in those countries.

Write to Katherine Hamilton at katherine.hamilton@wsj.com

(END) Dow Jones Newswires

January 15, 2026 13:44 ET (18:44 GMT)

Copyright (c) 2026 Dow Jones & Company, Inc.

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