Welcome to our dedicated page for MacroGenics news (Ticker: MGNX), a resource for investors and traders seeking the latest updates and insights on MacroGenics stock.
MacroGenics, Inc. (NASDAQ: MGNX) is a clinical-stage biopharmaceutical company based in Rockville, Maryland. The company specializes in discovering and developing innovative monoclonal antibody-based therapeutics for the treatment of cancer and autoimmune diseases. With a robust pipeline of product candidates, MacroGenics focuses on creating differentiated molecules targeting novel cancer markers, as well as 'bio-betters' designed to improve upon existing therapies.
MacroGenics' flagship product, MARGENZA, is approved for the treatment of adult patients with metastatic HER2-positive breast cancer. The company's pipeline also includes several promising product candidates such as MGC018 (B7-H3), Lorigerlimab (PD-1 × CTLA-4), Tebotelimab (PD-1 × LAG-3), MGD024 (CD123 × CD3), IMGC936 (ADAM9), Enoblituzumab (anti-B7-H3), Retifanlimab (PD-1), and MGD014 (HIV × CD3).
The company employs next-generation antibody-based technology platforms, including its proprietary DART® and TRIDENT® platforms, which enable the development of bispecific antibodies. These platforms are instrumental in the creation of MacroGenics' innovative product candidates and have led to several strategic collaborations with global pharmaceutical and biotechnology companies.
MacroGenics' recent achievements include a significant partnership with Gilead Sciences, Inc., focusing on bispecific antibodies. Under this agreement, Gilead has an exclusive option to license worldwide rights to the research program upon achieving pre-defined milestones, potentially earning MacroGenics up to $1.7 billion in target nomination, option fees, and milestone payments, plus tiered double-digit royalties on net sales.
The company is actively engaged in multiple clinical trials and anticipates sharing data from its TAMARACK Phase 2 study of vobramitamab duocarmazine for metastatic castration-resistant prostate cancer by the end of May 2024. Additionally, MacroGenics plans to release its financial results for the fourth quarter of 2023 on March 7, 2024, and for the first quarter of 2024 on May 9, 2024.
For more detailed information, please visit the company's website at www.macrogenics.com.
MacroGenics (NASDAQ: MGNX) presented updated efficacy and safety results from the TAMARACK Phase 2 study of vobramitamab duocarmazine (vobra duo) for metastatic castration-resistant prostate cancer (mCRPC) at the ESMO Congress 2024. Key findings include:
- 6-month radiographic progression-free survival (rPFS) rate: 69% for 2.0 mg/kg arm, 70% for 2.7 mg/kg arm
- Median rPFS: ~8.5 months (2.0 mg/kg), ~7.5 months (2.7 mg/kg)
- Confirmed objective response rate: 20% (2.0 mg/kg), 40.6% (2.7 mg/kg)
- Median 6 doses administered, extending treatment duration compared to Phase 1
The company expects to have mature median rPFS data by early 2025, which will inform future development decisions.
MacroGenics (NASDAQ: MGNX) announced a poster presentation of Phase 2 data for vobramitamab duocarmazine in metastatic castration-resistant prostate cancer (mCRPC) at the ESMO Congress 2024. The TAMARACK trial results will be presented on September 15, 2024, featuring updated safety and efficacy data, including the primary endpoint of 6-month radiographic progression-free survival (rPFS).
The company will host an investor call on September 16, 2024, at 8:00 a.m. ET to discuss the TAMARACK poster data and provide a corporate update. The call will be led by key executives including CEO Scott Koenig. The poster will be available on MacroGenics' website, and a webcast of the conference call will be accessible for 30 days following the event.
MacroGenics (NASDAQ: MGNX) provided an update on its corporate progress and Q2 2024 financial results. Key highlights include:
- Upcoming poster presentation of TAMARACK Phase 2 mCRPC study data at ESMO in September
- Receipt of $100 million in milestones from Incyte for ZYNYZ® (retifanlimab-dlwr) advancement
- Confirmed cash runway guidance into 2026
- Q2 2024 revenue of $10.8 million, down from $13.1 million in Q2 2023
- Net loss of $55.7 million for Q2 2024, compared to net income of $57.5 million in Q2 2023
- Cash position of $140.4 million as of June 30, 2024, not including the $100 million milestone payment
The company continues to advance its proprietary and partnered programs, including vobra duo, lorigerlimab, and MGC028.
MacroGenics (NASDAQ: MGNX) announced a poster presentation of clinical data from the TAMARACK Phase 2 study of vobramitamab duocarmazine (vobra duo) at the upcoming ESMO Congress 2024. The presentation will include safety, efficacy, and landmark 6-month radiographic progression-free survival (rPFS) data for metastatic castration-resistant prostate cancer (mCRPC) patients.
In late July 2024, MacroGenics discontinued treatment for remaining TAMARACK study participants following a review of accumulated data and the IDMC's recommendation. Most participants had received 8-12 cycles of vobra duo. The company plans to host an investor update call following the ESMO presentation in September to discuss the TAMARACK data and potential next steps for the vobra duo program.
MacroGenics (NASDAQ: MGNX) has achieved $100 million in milestones from Incyte related to the development of ZYNYZ® (retifanlimab-dlwr), a PD-1 inhibitor for treating Merkel cell carcinoma. This milestone is part of a 2017 collaboration agreement, under which MacroGenics has now received $215 million in total milestones. The company remains eligible for up to $540 million in additional milestones and tiered royalties of 15-24% on ZYNYZ's worldwide net sales. MacroGenics expects its current cash balance, including the recent $100 million, along with projected future payments and revenues, to support its operations into 2026.
MacroGenics (Nasdaq: MGNX), a biopharma company specializing in monoclonal antibody-based cancer treatments, announced its participation in the Goldman Sachs 45th Annual Global Healthcare Conference in Miami Beach.
President & CEO Scott Koenig will present on June 13, 2024, at 10:00am ET. Management will also engage in one-on-one meetings. A live webcast of the presentation will be available on MacroGenics' website, with a replay accessible for 30 days post-conference.
MacroGenics, Inc. (Nasdaq: MGNX) will participate in upcoming investor conferences, including The Citizens JMP Life Sciences Conference and TD Cowen’s 5th Annual Oncology Innovation Summit. President & Chief Executive Officer, Scott Koenig, M.D., Ph.D., will be involved in fireside chats and one-on-one meetings, with webcasts available on the company's website.
MacroGenics, Inc. provides updates on corporate progress, financial results, and interim TAMARACK Phase 2 study data for vobra duo in mCRPC patients. Encouraging safety and efficacy data have led to planning for a potential Phase 3 study. Key financial results include a cash balance of $184.2 million, total revenue of $9.1 million, net loss of $52.2 million, and an extended cash runway into 2026.
MacroGenics, Inc. (Nasdaq: MGNX) will release its first quarter 2024 financial results on May 9, 2024, after the market closes. The company will host a conference call on the same day at 4:30 pm ET to discuss the results and recent corporate progress.
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