Loading...
•
Mar 31, 2024
MacroGenics Q1 2024 Earnings Report
MacroGenics reported first quarter 2024 financial results and provided an update on corporate progress and interim TAMARACK Phase 2 study data.
Key Takeaways
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.
Presented interim TAMARACK Phase 2 study data with updated safety and preliminary efficacy of vobra duo in mCRPC patients.
Initiated planning activities for a potential Phase 3 study of vobra duo, which could commence next year.
Completed enrollment of the TAMARACK Phase 2 study of vobra duo in November 2023.
Plans to expand the TAMARACK study of vobra duo by enrolling patients with non-small cell lung cancer (NSCLC), small cell lung cancer (SCLC), melanoma, squamous cell carcinoma of the head and neck (SCCHN) and anal cancer, with dosing expected to begin in mid-2024.
MacroGenics
MacroGenics
MacroGenics Revenue by Segment
Revenue by Segment
Collaborative and other agreements Revenue
CapyFin.comProduct sales, net Revenue
CapyFin.comContract manufacturing Revenue
CapyFin.comGovernment agreements Revenue
CapyFin.com Forward Guidance
MacroGenics anticipates its cash, cash equivalents and marketable securities balance of $184.2 million as of March 31, 2024, in addition to projected and anticipated future payments from partners and product revenues should extend its cash runway into 2026.
Positive Outlook
- Cash runway extends into 2026.
- Phase 2 TAMARACK clinical trial expenditures are anticipated.
- Phase 2 LORIKEET study expenditures are anticipated.
- Ongoing clinical and preclinical studies expenditures are anticipated.
- Future payments from partners are anticipated.
Revenue & Expenses
Visualization of income flow from segment revenue to net income