MacroGenics Inc
NASDAQ:MGNX

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MacroGenics Inc
NASDAQ:MGNX
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Price: 1.37 USD -0.72% Market Closed
Market Cap: 86.7m USD

MacroGenics Inc
Investor Relations

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.

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Last Earnings Call
Fiscal Period
Q4 2024
Call Date
Mar 20, 2025
AI Summary
Q4 2024

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.

Key Financials
Revenue
$150 million
Research and Development Expenses
$177.2 million
Selling, General and Administrative Expenses
$71 million
Net Loss
$67 million
Cash, Cash Equivalents and Marketable Securities
$201.7 million
MARGENZA Net Sales
$16.4 million
Contract Manufacturing Revenue
$13.1 million
Other Income (MARGENZA Sale Gain)
$36.3 million
Earnings Call Recording
Other Earnings Calls

Management

Dr. Scott Koenig M.D., Ph.D.
President, CEO & Director
No Bio Available
Mr. James Karrels
Senior VP, CFO & Corporate Secretary
No Bio Available
Dr. Stephen L. Eck M.D., Ph.D.
Senior VP of Clinical Development & Chief Medical Officer
No Bio Available
Mr. Eric Blasius Risser
Chief Operating Officer
No Bio Available
Dr. Thomas M. Spitznagel Ph.D.
Senior Vice President of Technical Operations
No Bio Available
Dr. Ezio Bonvini M.D.
Senior VP of Research & Chief Scientific Officer
No Bio Available
Mr. Jeffrey Stuart Peters J.D.
Senior VP, General Counsel & Corporate Compliance Officer
No Bio Available
Ms. Lynn Cilinski
VP, Controller & Treasurer
No Bio Available

Contacts

Address
MARYLAND
Rockville
9704 Medical Center Dr
Contacts
+13012515172.0
www.macrogenics.com