Agenus Inc.

Good morning and welcome to Agenis' third quarter 2024 conference call and webcast. All participants will be in a listen-only mode until the question and answer session. Please note, this event is being recorded. If anyone has any objections, you may disconnect at this time. I would now like to turn the conference over to Alexa Buffa from Agenis Corporate Communications. Alexa, please go ahead.

Thank you, Operator, and thank you all for joining us today. Today's call is being webcast and will be available on our website for reply. I'd like to remind you that this call will include forward-looking statements, including statements regarding our clinical development, regulatory and commercial plans, and timelines, as well as timelines for data releases and partnership opportunities, among other updates. These statements are subject to risks and uncertainties, and we refer you to our SEC filings available on our website for more details on these risks. Joining me today are Dr. Garrow Arman, Chairman and Chief Executive Officer, Dr. Robin Taylor, Chief Commercial Officer, and Christine Klaskin, Vice President of Finance. Dr. Stephen O'Day, Chief Medical Officer, will be participating in the question and answer session. Now I'd like to turn the call over to Garrow to highlight our progress in the third quarter.

Thank you, Alexa, and good morning, everyone, and thank you all for joining us today. At Agenis, we are driven by the belief that we can redefine what is possible in cancer treatment. This belief is embodied in the progress we've made with Buc-Val. Buc-Val is showing unprecedented results in cancers that have resisted all previous therapies, as well as in patients with earlier stages of disease who face morbidities associated with conventional treatment options, such as chemotherapy, radiation, and radical and sometimes debilitating or even mutilating surgeries. ButVal represents a paradigm shift in how we approach cancer treatment. In the neoadjuvant setting, for example, ButVal has demonstrated the potential to address diseases such as MSS colorectal cancer, which do not typically respond to immunotherapy, and which account for more than 85% of all colorectal cancer. The initial data we presented at ESMO GI in 2024, just a few months ago, from the Cornell study highlights this potential. These results in a tumor type historically resistant to immunotherapy are absolutely groundbreaking. Ongoing trials in Italy and the Netherlands will further expand on these results and provide insights with data anticipated early next year. We believe these studies will reinforce the strength and breadth of blood valve impact not just in colorectal cancer, but across multiple cancers, which generally respond poorly to other treatments. While the science is advancing, the financial challenges we face are significant. Developing therapies with this level of promise requires significant resources, and we're operating under financial constraints. For example, we ended the quarter with just $44.8 million in cash and subsequently raised another $7 million and change. These figures underscore the need for decisive action. Let me give you a glimpse of what we're doing. First, we've implemented measures that have significantly reduced cash outflow. ensuring we remain focused on our highest priorities and internalizing as many extensive functions as possible, such as CRO and CDMO services, for which we have spent a significant amount of money in the first nine months of this year. Second, by the way, these were necessary expenditures. So, but now we are internalizing this as we wind down some of these activities as trials are maturing. Secondly, for the first time in almost a year, the window is opening up for us to monetize on our real estate assets. Remarkably, this effort has gained momentum with the improved financial environment following the US elections just a week ago. And the assets that we're talking about are valued or they are appraised at, are vacable property at over $45 million. That's an appraisal about a year ago. And our Berkeley facility, which was our first manufacturing facility, which is appraised at $25 million. And thirdly, and most importantly, we are in advanced discussions on several strategic transactions designed to deliver substantial value and research. We see one or more or a combination of these transactions as key to our long-term growth, enabling us to sustain and accelerate our progress with BotValve. These steps reflect our commitment to building a strong foundation for GEMS, one that allows us to deliver on the extraordinary promise of BotValve while meeting the needs of our patients The progress we've made thus far is a testament to the strength of our science and the dedication of our team. With that, I'll now turn it over to Dr. Robin Taylor, our Chief Commercial Officer, to provide further insights into our business strategy and patient access initiatives. Robin?