MacroGenics Q2 2020 Earnings Report
Key Takeaways
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.
Presented promising initial clinical data at ASCO from the MGD013 and MGC018 programs.
Defined a potential registration path for flotetuzumab.
Received FDA clearance to initiate clinical testing of novel antibody-drug conjugate targeting ADAM9 being co-developed with ImmunoGen.
Extended cash runway into 2023.
MacroGenics
MacroGenics
MacroGenics Revenue by Segment
Forward Guidance
MacroGenics anticipates that its cash, cash equivalents and marketable securities as of June 30, 2020, plus the additional proceeds referred to above which were subsequently received, combined with anticipated and potential collaboration payments, should enable it to fund its operations into 2023, assuming the Company's programs and collaborations advance as currently contemplated.
Revenue & Expenses
Visualization of income flow from segment revenue to net income