On March 30, 2017, Agenus Inc. announced certain restructuring activities. In connection with these restructuring activities, effective April 1, 2017, Dr. Robert Stein will retire as President of R&D and will become a senior R&D advisor to the company.

The company also announced that it is reorganizing its business and operations to sharpen its focus on clinical development of its two checkpoint inhibitor antibodies and vaccine program. The company plans to close its Basel site and consolidate key functions to its Cambridge, UK and Lexington, MA facilities, and phase out approximately 50 positions across the organization. The company's goals for this realignment are to: accelerate development and commercialization of its product portfolio to drive shareholder value; further extend the company's cash runway beyond the impact from the recently amended Incyte partnership, which strengthened the balance sheet by 80 million and reduced development expenses; consolidate operations to improve R&D efficiencies; and ensure commercial readiness and manufacturing. Prioritized programs include combination therapies targeting CTLA-4 and PD-1. In addition, the company will transition or consolidate certain key management positions, with the objective of streamlining leadership and reducing costs.