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Why Agenus Stock Is Jumping Today

TheMotleyFool

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Why Agenus Stock Is Jumping TodayPhoto, wide shot, wide-angle lens, Personal care service, Midday, harsh overhead sunlight, directional sunlightt, photo by Thomas Heaton: https://img.midjourneyapi.xyz/temp/44547be2-b411-43fb-91ed-bf4a69577d94.png

Shares of Agenus (NASDAQ: AGEN) were jumping 8.2% as of 11:24 a.m. EDT on Tuesday. The only news related to the company was VBI Vaccines' (NASDAQ: VBIV) announcement that the U.S. Food and Drug Administration (FDA) granted Fast Track designation for cancer vaccine candidate VBI-1901 in treating recurrent glioblastoma, an aggressive type of brain cancer. VBI's experimental vaccine uses GlaxoSmithKline's AS01 adjuvant system, which contains Agenus' QS-21 Stimulon adjuvant.

VBI stock rose a little with the FDA's decision to give Fast Track designation to VBI-1901. The designation could lead to a shorter path to potential approval of the experimental drug.

Image source: Getty Images.

Source Fool.com

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