Agenus on Wednesday announced plans to reduce its workforce by 25% as the immuno-oncology company focuses attention on its lead botensilimab/balstilimab (BOT/BAL) programme in multiple cancers. Company shares declined roughly 7% on the news.Under the new arrangement, which is expected to result in about $40 million in savings by the end of the year, Agenus said it will temporarily postpone all preclinical and clinical programmes not related to BOT/BAL. The plan is to reduce operating expenses across the company's global organisation by concentrating R&D, clinical, manufacturing and regulatory resources on the BOT/BAL programme and "drive commercial readiness."Agenus, which has about 530 employees, said it expects the job cuts to result in savings of about $2.8 million by year-end.Botensilimab is an investigational CTLA-4 antibody with modified Fc region that is designed to engage with activating receptors on immune cells to promote a more effective response. The compound, either alone or together with Agenus' PD-1 antibody balstilimab, "has shown clinical responses across nine metastatic, late-line cancers," the company said. The combination is currently in Phase II studies in solid tumours, colorectal cancer that does not have high microsatellite instability, and PD-1 relapsed or refractory melanoma, according to the company's website.Targeting first filing in 2024"The observed clinical benefit in solid tumours underscores the [BOT/BAL] programme's game-changing potential, and our rapid progress towards a first filing in 2024 highlights the necessity for prioritisation in every aspect of our operations," remarked CEO Garo Armen.Meanwhile, Agenus said it "plans to reactivate" its pipeline of immuno-oncology agents in the future, adding that the cost-cutting measures will not affect its partner-funded programmes. These include MK-4830, an antibody targeting the myeloid-specific ILT4 receptor partnered with Merck & Co., the CD137 agonist AGEN2373 with Gilead Sciences, and the anti-TIGIT bispecific BMS-986442 (AGEN 1777), which is being co-developed with Bristol Myers Squibb.