To succeed in I-O, innovation and speed are paramount. Two classes of checkpoint targets include: 1. stimulatory checkpoints that can enhance or amplify an antigen-specific immune response. This patent is projected to expire in 2023. 8) Patents co-owned by Agenus and licensed to Incyte. ( 10) Co-owned by Agenus and Merck. Therefore, the landscape is dynamic and constantly evolving. We are also aware of next-generation assets targeting CTLA-4 preclinically. Other companies may begin development programs as well. We are advancing our neoantigen vaccine, AutoSynVax, in solid tumors. We are also aware of other manufacturers of QS-21. The contents of the websites referred to above are not incorporated into this filing. 8226; We may be unable to protect the confidentiality of our proprietary information. As of December 31, 2020, we had $99.9 million of cash and cash equivalents. This is costly and time-consuming. Designation as a breakthrough therapy is within the discretion of the FDA. Various risks associated with foreign operations may impact our success. Accordingly, we may not be able to utilize a material portion of our NOLs or credits. In September 2011, AIA was signed into law. This applies to all of our U.S. patents, even those issued before March 16, 2013. Furthermore, we would be exposed to a threat of litigation. Any of these outcomes could have a material adverse effect on our business. Patent litigation and other proceedings may also absorb significant management time. We are highly reliant on certain members of our management team. The failure by our management to apply these funds effectively could harm our business.