Agenus Inc. (AGEN) Q4 2024 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning and welcome to Agenis, Inc.' 's fourth quarter and year-end 2024 earnings conference call. Currently, all participants are in a listen-only mode. A question-and-answer session will follow the formal remarks. As a reminder, this conference is being recorded. I will now turn the call over to Zach Orman, Head of Investor Relations. Thank you, Regina. Good morning, everyone, and welcome to Agenis' fourth quarter and year-end 2024 financial results and corporate update call. Earlier today, we issued a press release detailing our financial results and key corporate developments. A copy of the press release is available on our website at www.investors.agenisfio.com. Before we begin, I'd like to remind everyone that today's discussion will include forward-looking statements. These statements are subject to risks and uncertainties, which may cause actual results to differ materially from expectations. Please refer to our FCC filings for further details. Joining me today are Garo Harmon, Chairman and CEO, Stephen OJ, Chief Financial Officer, Robin Taylor, Chief Commercial Officer, Christine Klotskin, VP Finance and Principal Financial and Accounting Officer. Now I'll turn the call over to Garo. A very good morning once again from a delightful day in Lexington, Massachusetts. Thank you very much for joining us. First, let me start by saying we are, as a company, pleased to report that we delivered on our commitment to significantly reduce the genesis operational burn. By the end of 2024, we had reduced our annualized burn rate to the level that we had guided everyone. And now, we are executing on our next phase of strategic cost reductions with an annualized burn to approximate 50 million by the middle of this year. And we're very much on track for that number. Our...