Agenus Gets A Boost From Incyte Cash Infusion

Agenus Inc AGEN shares are trading higher by $0.34 (8 percent) at $4.46 in Tuesday's session.

Investors are encouraged that Incyte Corporation INCY has amended a collaboration deal for development and commercialization responsibilities for GITR and OX40. As a result, Agenus will receive $60 million from Incyte.

After a higher open, it retreated to $4.41 before continuing its move higher. The ensuing rally took the issue to $4.78, but began to fade back towards the lows of the session. That high marked the highest level for the issue since November 28, when it peaked at $4.95.