MacroGenics Q1 2023 Earnings Report
Key Takeaways
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.
ZYNYZ™ is the third product approved in the U.S. that originated from MacroGenics' pipeline.
Multiple Phase 2 programs are advancing in metastatic castration-resistant prostate cancer (mCRPC).
The company achieved $270 million in non-dilutive funding over the past nine months.
Cash runway extends through 2025.
MacroGenics
MacroGenics
MacroGenics Revenue by Segment
Forward Guidance
MacroGenics anticipates that its cash, cash equivalents and marketable securities balance of $241.7 million as of March 31, 2023, plus projected and anticipated future payments from partners and product revenues should extend its cash runway through 2025.