MacroGenics Earnings Reports

MacroGenics reported total revenue of $110.7 million for Q3 2024, primarily driven by a $100.0 million milestone payment from Incyte. Net income was $56.3 million. The company's cash, cash equivalents, and marketable securities balance was $200.4 million as of September 30, 2024.

MacroGenics reported a net loss of $55.7 million for Q2 2024, compared to a net income of $57.5 million for Q2 2023. Total revenue decreased to $10.8 million from $13.1 million in the same quarter last year, primarily due to less revenue recognized under the Provention Asset Purchase Agreement. The company's cash, cash equivalents, and marketable securities balance was $140.4 million as of June 30, 2024, excluding the $100 million milestone received from Incyte subsequent to the quarter-end.

MacroGenics reported a total revenue of $9.1 million for the quarter ended March 31, 2024, compared to $24.5 million for the quarter ended March 31, 2023. Net loss was $52.2 million for the quarter ended March 31, 2024, compared to net loss of $38.0 million for the quarter ended March 31, 2023. Cash, cash equivalents and marketable securities were $184.2 million as of March 31, 2024.

MacroGenics reported a net loss of $9.1 million for the year ended December 31, 2023, compared to a net loss of $119.8 million for the year ended December 31, 2022. The company's cash, cash equivalents, and marketable securities balance was $229.8 million as of December 31, 2023. They anticipate the cash runway extended into 2026.

MacroGenics reported a net income of $17.6 million for Q3 2023, compared to a net loss of $24.8 million for the same period in 2022. The company's cash, cash equivalents, and marketable securities balance was $256.4 million as of September 30, 2023, which, along with a subsequent $15.7 million milestone payment and anticipated future payments, is expected to extend the cash runway into 2026.

MacroGenics reported a net income of $57.5 million for the quarter ended June 30, 2023, compared to a net loss of $41.3 million for the same period in 2022. Total revenue was $13.1 million, and the company's cash, cash equivalents, and marketable securities totaled $240.3 million as of June 30, 2023, not including the $50 million milestone from Sanofi subsequently earned.

MacroGenics reported a net loss of $38.0 million for the quarter ended March 31, 2023, compared to a net loss of $66.4 million for the quarter ended March 31, 2022. Total revenue was $24.5 million, compared to $11.1 million for the quarter ended March 31, 2022. The company's cash, cash equivalents and marketable securities were $241.7 million as of March 31, 2023, and anticipates its cash runway through 2025.

MacroGenics reported its 2022 financial results, highlighting a cash runway extended through 2025, modifications to the TAMARACK study design, and encouraging lorigerlimab monotherapy clinical data. The company added $250 million in non-dilutive funding over the past eight months and anticipates submitting an IND application for a new ADC later this year.

MacroGenics strengthened its financial position through partnering efforts, receiving milestone payments from Incyte and an upfront payment from Gilead. The company is focused on advancing its pipeline of clinical and preclinical product candidates, including initiating the MGC018 TAMARACK study, continuing enrollment in ongoing studies, and reporting data from the lorigerlimab monotherapy expansion cohorts.

MacroGenics reported a net loss of $41.3 million for the second quarter of 2022, with total revenue of $26.0 million. The company is implementing cost-saving measures through corporate restructuring, including a 15% workforce reduction and closure of two facilities, to extend its cash runway into 2024. They also dosed the first patient in Phase 1 study of MGD024 and plan to initiate MGC018 Phase 2/3 study in prostate cancer by year-end.

MacroGenics reported first quarter 2022 financial results, with total revenue of $11.1 million, including $3.6 million in MARGENZA sales. The company's net loss was $66.4 million. They plan to start Phase 2/3 prostate cancer study with MGC018 by year-end and initiated Phase 1 study of MGC018 in combination with lorigerlimab in advanced solid tumors.

MacroGenics reported its 2021 financial results, with total revenue of $77.4 million and a net loss of $202.1 million. The company's cash, cash equivalents, and marketable securities totaled $243.6 million as of December 31, 2021, which is expected to fund operations through 2023.

MacroGenics reported Q3 2021 financial results, with total revenue of $15.7 million, including $3.6 million in MARGENZA net sales. The company's cash, cash equivalents, and marketable securities were $298.9 million as of September 30, 2021. An IND application was submitted for MGD024, and the FDA approved MacroGenics’ GMP manufacturing facility to produce MARGENZA® drug substance.

MacroGenics reported a net loss of $39.9 million for the quarter ended June 30, 2021, with total revenue of $30.8 million, including $3.2 million in net sales of MARGENZA. The company's cash, cash equivalents, and marketable securities were $297.3 million as of June 30, 2021.

MacroGenics reported total revenue of $16.9 million for the quarter ended March 31, 2021, including $0.9 million net sales of MARGENZA. Net loss was $51.3 million. Cash, cash equivalents and marketable securities were $343.2 million as of March 31, 2021.

MacroGenics announced the FDA approval of MARGENZA™ in December 2020 and anticipates its commercial launch in March 2021. The company also looks forward to potential regulatory decisions for partnered products retifanlimab and teplizumab, with PDUFA target action dates in July 2021. MacroGenics expects to provide clinical updates across its portfolio throughout 2021.

MacroGenics reported third quarter financial results, with total revenue of $18.2 million and a net loss of $36.0 million. The company continued to advance its clinical programs, with three investigational programs currently in pivotal studies.

MacroGenics reported a net loss of $46.9 million for the quarter ended June 30, 2020. Total revenue was $20.3 million, and cash, cash equivalents, and marketable securities were $232.8 million as of June 30, 2020. The company anticipates funding its operations into 2023.

MacroGenics reported total revenue of $13.7 million for the quarter ended March 31, 2020, compared to $9.7 million for the quarter ended March 31, 2019. Research and development expenses were $48.9 million, and net loss was $44.7 million.

MacroGenics reported its full year 2019 financial results, with a net loss of $151.8 million and total revenue of $64.2 million. The company's cash, cash equivalents, and marketable securities were $215.8 million as of December 31, 2019, which they expect will fund operations into 2021.