MacroGenics Q3 2022 Earnings Report
Key Takeaways
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.
Collaboration with Gilead to develop bispecific antibodies, including MGD024, was announced.
Planned initiation of Phase 2 portion of MGC018 TAMARACK study in prostate cancer by year-end.
Anticipated update on lorigerlimab monotherapy clinical data in first quarter of 2023.
Received $30 million in milestone payments from Incyte and $60 million upfront payment from Gilead.
MacroGenics
MacroGenics
MacroGenics Revenue by Segment
Forward Guidance
MacroGenics anticipates that its cash, cash equivalents and marketable securities balance of $123.6 million as of September 30, 2022, $60 million subsequently received from Gilead, projected and anticipated future payments from partners and product revenues should extend its cash runway into mid-2024.