Pfizer Inc. (NYSE:PFE) has recently entered into an option and licensing agreement with OncoImmune, Inc. for the latter’s preclinical anti-CTLA4 monoclonal antibody, ONC-392.
Pfizer’s Deal with OncoImmune
With its latest option and licensing agreement, Pfizer is seeking to evaluate ONC-392 and other potential anti-CTLA4 monoclonal antibodies from OncoImmune. Should the company decide to exercise its option as per the contract, it will be in charge of all future development and commercialization prospects under the clinical development program. OncoImmune, on the other hand, will receive milestone payments and other royalties as per the terms of the agreement.
Recalled that Pfizer already had its own monoclonal antibody candidate under the same category a few years back. However, it licensed the rights to the said candidate to AstraZeneca plc (ADR) (NYSE:AZN).
What It Means for Agenus Inc (NASDAQ:AGEN)
Pfizer’s new deal centered on CTLA-4 can have positive implications for Agenus, which is currently working on Phase 1 clinical trials of a CTLA-4 antagonist.
Forging a partnership for its leading drug candidate with Pfizer can make or break Agenus’ core business and even its existence. It would be more meaningful if its efforts can advance to Phase 2 clinical trials prior to executing partnerships.
Pfizer’s renewed interest in antibodies opens new viable opportunities not just for Agenus but for the pharmaceutical industry as a whole and investors as well.
Agenus has opened at $7.07 on Wednesday, reaching an intraday high of $7.21 and an intraday low of $7. The stock has ended the session at $7.20. Currently, it holds a 52-week high of $7.30 and a 52-week low of $2.61.
Meanwhile, AstraZeneca had an opening price of $33.05. During the trading day, it has touched a high of $33.63 and a low of $32.98 before closing at $33.61. The stock presently holds a 52-week high of $35.04 and a 52-week low of $26.97.
On the other hand, Pfizer has started the session at $33.78. The stock has reached a high of $33.88 and a low of $33.48, ending Wednesday at $33.83. It holds a 52-week high of $37.39 and a 52-week low of $28.25.