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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.
Revenue by Segment
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
Historical Earnings Impact
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Avg. Return Before/After Earnings
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