AGENUS INC (AGEN) - Dilution Analysis

Visualizing historical and potential share dilution over time

Dilution Analysis

High Risk
Significant dilution risk
Last updated: May 11, 2026

Risk Assessment Details

Potential Dilution: 896.89% of current shares
Recent Dilution: 73.97% (2 years)
Historical Dilution Factor: significant recent dilution
Outstanding Shares
38M
Potential Supply
340M
Additional shares possible
Splits
None
Past 2 years

Summary

AGEN currently has 38.3M outstanding shares. with significant dilution risk as 343M authorized shares could dilute existing holders by 896.9%. The company has significantly diluted shareholders by 73.97% over the past 2 years, indicating aggressive capital raising.

Share Structure Timeline

Outstanding Shares
Total Supply

Historical Data Points

Date Event Outstanding Supply
May 11, 2026

10-Q filing | 38.3M shares outstanding

38M 340M
Mar 16, 2026

10-K filing | 38.4M shares outstanding

38M 340M
Jan 16, 2026

8-K filing: Agenus Inc. completed the sale of assets to Zydus Pharmaceuticals and Zynext Ventures purchased 2,133,333 shares of Agenus' common stock for $16.0 million. ($16.0M proceeds)

33M 350M
Nov 10, 2025

10-Q filing | 32.9M shares outstanding

33M 350M
Oct 09, 2025

8-K filing: Agenus Inc. entered into a Promissory Note Agreement with Zydus Pharmaceuticals for up to $10,000,000, collateralized by 822,910 shares of MiNK Therapeutics common stock owned by Agenus.

32M 350M
Aug 11, 2025

10-Q filing | 31.9M shares outstanding

32M 350M
Jun 04, 2025

8-K filing: Agenus Inc. entered into an Asset Purchase Agreement with Zydus Pharmaceuticals (USA) Inc. for the sale of its manufacturing operations assets, and a Securities Purchase Agreement with Zynext Ventures USA LLC for the sale of 2,133,333 shares of common stock at $7.50 per share for an aggregate purchase price of approximately $16.0 million. ($16.0M proceeds)

25M 360M
May 12, 2025

10-Q filing | 27.4M shares outstanding

27M 350M
May 12, 2025

S-3 filing: Agenus Inc. is offering 165,000 shares of common stock issuable upon the exercise of certain warrants by selling stockholders.

25M 360M
Mar 17, 2025

10-K filing | 25.3M shares outstanding

25M 360M
Feb 26, 2025

8-K filing: Agenus Inc. amended notes and warrants with existing noteholders, extending maturity dates, increasing interest rates, and issuing new warrants to purchase 67,500 shares of common stock at $3.25 per share.

22M 360M
Nov 27, 2024

8-K filing: A subsidiary of Agenus Inc. entered into a promissory note with Ocean 1181 LLC for a $22,000,000 loan, with interest payable partly in the Company's common stock, and at closing, the Company paid the Lender 153,003 shares of common stock.

22M 360M
Nov 12, 2024

10-Q filing | 21.6M shares outstanding

22M 360M
Aug 08, 2024

10-Q filing | 21.1M shares outstanding

21M 360M
May 07, 2024

10-Q filing | 20.4M shares outstanding

20M 360M
May 07, 2024

8-K filing: Agenus Inc. sold certain royalty rights to Ligand Pharmaceuticals for $75 million and issued a warrant to Ligand to purchase 867,052 shares of Agenus' common stock at an exercise price of $17.30.

420M 0
Mar 14, 2024

POS AM filing: Agenus Inc. may offer and sell up to $300,000,000 in the aggregate of common stock, preferred stock, warrants, debt securities, or units consisting of any combination of the foregoing securities.

380M 0
Mar 14, 2024

10-K filing | 418.9M shares outstanding

420M 0
Nov 09, 2023

10-Q filing | 381.5M shares outstanding

380M 0
Aug 08, 2023

10-Q filing | 379.6M shares outstanding

380M 0
May 09, 2023

10-Q filing | 348.9M shares outstanding

350M 0
Apr 24, 2023

8-K filing: Agenus Inc. declared a stock dividend of 5,000,000 shares of MiNK Therapeutics, Inc. common stock to be distributed to record holders of Agenus Inc.'s common stock as of April 17, 2023, with a distribution ratio of 0.0146 of a share of MiNK Common Stock for each share of Agenus Inc. Common Stock held on the Record Date.

330M 0
Mar 16, 2023

10-K filing | 332.5M shares outstanding

330M 0
Dec 02, 2022

8-K filing: Agenus Inc. amended notes and issued new warrants to existing noteholders, including warrants to purchase 1,300,000 shares expiring February 20, 2026 and 650,000 shares expiring February 20, 2028, all with an exercise price of $2.84 per share.

300M 0
Nov 08, 2022

10-Q filing | 304.8M shares outstanding

300M 0
Aug 09, 2022

10-Q filing | 283.2M shares outstanding

280M 0
May 10, 2022

10-Q filing | 271.0M shares outstanding

270M 0
Mar 01, 2022

10-K filing | 257.2M shares outstanding

260M 0
Nov 09, 2021

10-Q filing | 256.8M shares outstanding

260M 0
Aug 09, 2021

10-Q filing | 233.1M shares outstanding

230M 0
May 07, 2021

10-Q filing | 222.4M shares outstanding

220M 0
Mar 16, 2021

10-K filing | 204.7M shares outstanding

200M 0
Nov 09, 2020

10-Q filing | 190.1M shares outstanding

190M 0
Aug 10, 2020

10-Q filing | 183.4M shares outstanding

180M 0
May 11, 2020

10-Q filing | 169.8M shares outstanding

170M 0
Mar 16, 2020

10-K filing | 161.6M shares outstanding

160M 0
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