MacroGenics Inc
NASDAQ:MGNX
MacroGenics Inc
MacroGenics, Inc. is a clinical-stage biopharmaceutical company, engages in discovering and developing antibody-based therapeutics designed to modulate the human immune response for the treatment of cancer. The company is headquartered in Rockville, Maryland and currently employs 427 full-time employees. The company went IPO on 2013-10-10. The company is developing product candidates that target various tumor-associated antigens and immune checkpoint molecules. Its lead pipeline program is MGC018, an antibody-drug conjugate (ADC) that targets B7-H3, a molecule in the B7 family of immune regulator proteins that is expressed by several different tumor types. The company is also developing enoblituzumab, an Fc-optimized monoclonal antibody (mAb) that targets B7-H3 and molecules that target programmed cell death protein 1 (PD-1), a protein that is important in the regulation of the immune system's response to cancer. Its clinical pipeline includes two bispecific DART product candidates that co-engage both PD-1 and lymphocyte-activation gene 3 (LAG-3) (tebotelimab), and PD-1 and cytotoxic T-lymphocyte-associated protein 4 (CTLA-4) (lorigerlimab). In addition, it is also developing MGD024.
MacroGenics, Inc. is a clinical-stage biopharmaceutical company, engages in discovering and developing antibody-based therapeutics designed to modulate the human immune response for the treatment of cancer. The company is headquartered in Rockville, Maryland and currently employs 427 full-time employees. The company went IPO on 2013-10-10. The company is developing product candidates that target various tumor-associated antigens and immune checkpoint molecules. Its lead pipeline program is MGC018, an antibody-drug conjugate (ADC) that targets B7-H3, a molecule in the B7 family of immune regulator proteins that is expressed by several different tumor types. The company is also developing enoblituzumab, an Fc-optimized monoclonal antibody (mAb) that targets B7-H3 and molecules that target programmed cell death protein 1 (PD-1), a protein that is important in the regulation of the immune system's response to cancer. Its clinical pipeline includes two bispecific DART product candidates that co-engage both PD-1 and lymphocyte-activation gene 3 (LAG-3) (tebotelimab), and PD-1 and cytotoxic T-lymphocyte-associated protein 4 (CTLA-4) (lorigerlimab). In addition, it is also developing MGD024.
Revenue Surge: MacroGenics reported total revenue of $150 million for 2024, a significant increase from $58.7 million in 2023, mainly due to milestone payments under the Incyte license agreement.
LORIKEET Progress: Enrollment for the LORIKEET Phase 2 trial of lorigerlimab in metastatic castrate-resistant prostate cancer is complete, with a clinical update expected in the second half of 2025.
Pipeline Expansion: The company advanced multiple antibody drug conjugate (ADC) programs, including MGC026 and MGC028, with Phase 1 studies ongoing and dose expansion for MGC026 expected in 2025.
Discontinuing Vobra Duo: MacroGenics will not pursue further internal development of vobra duo following Phase 2 results but is seeking partnership opportunities for the asset.
Cash Position: The company ended 2024 with $201.7 million in cash, cash equivalents, and securities, expecting this to fund operations into the second half of 2026.
Leadership Transition: The Board is actively searching for a new CEO as part of its succession planning.
