Macrogenics Inc Stock Price, News & Analysis

MacroGenics, Inc. (Nasdaq: MGNX), a biopharmaceutical company focused on antibody-based cancer therapies, announced its management's participation in several upcoming investor conferences. Key events include:

• Stifel 2023 Targeted Oncology Days: Presentation by Scott Koenig on April 26, 2023, at 2:00 pm ET.
• H.C. Wainwright BioConnect Investor Conference: Fireside chat with Scott Koenig on May 2, 2023, at 1:00 pm ET.
• JMP Securities Life Sciences Conference: Fireside chat with Scott Koenig on May 15, 2023, at 9:30 am ET.

Investors can access webcasts of these presentations in the Investor Relations section of MacroGenics' website, with archived replays available for 30 days. The company utilizes advanced antibody technology to develop innovative therapeutics.

MacroGenics, Inc. (NASDAQ: MGNX) announced a $15 million milestone payment from Incyte following FDA approval of ZYNYZ™ (retifanlimab-dlwr), a monoclonal antibody for treating Merkel cell carcinoma. Originally developed by MacroGenics and licensed to Incyte in October 2017, ZYNYZ's approval marks the third product launch from MacroGenics' pipeline. Additionally, MacroGenics stands to gain up to $320 million in remaining development and regulatory milestones, $330 million in commercial milestones, and a 15% to 24% royalty on global net sales. The CEO expressed satisfaction over this development, highlighting its significance for patient treatment options.

MacroGenics, Inc. (MGNX) announced its corporate progress and financial results for 2022, highlighting a cash runway extending through 2025 due to $250 million in non-dilutive funding. Preliminary data on lorigerlimab in metastatic castration-resistant prostate cancer (mCRPC) showed promising results, with 28.6% of patients achieving ≥ 50% PSA reduction. The TAMARACK study was modified to accelerate data readout. Total revenue increased to $151.9 million, up from $77.4 million in 2021, while net loss decreased to $119.8 million. Upcoming developments include a randomized Phase 2 study of lorigerlimab and advancements in ADC candidates.

MacroGenics has expanded its collaboration with Synaffix, adding up to four antibody-drug conjugate (ADC) programs. This agreement, evolving from a deal made in February 2022, includes potential payments of up to $2.2 billion and tiered royalties on net sales. MacroGenics can now pursue up to seven ADC programs, combining its proprietary technologies with Synaffix's advanced linker-payload technologies. This collaboration is positioned to enhance the development of innovative treatments for cancer, significantly leveraging Synaffix's GlycoConnect™, HydraSpace™, and toxSYN™ technologies for better efficacy and tolerability in ADCs.

MacroGenics, Inc. (Nasdaq: MGNX) has announced an agreement to sell its royalty interest on future global net sales of TZIELD to a subsidiary of DRI Healthcare Trust for up to $200 million. MacroGenics will receive a $100 million upfront payment for a single-digit royalty. The company retains other economic interests related to TZIELD, including potential milestone payments. Additionally, MacroGenics can earn an extra $50 million tied to specific advancements in TZIELD's treatment of type 1 diabetes and another $50 million based on net sales achievements.

MacroGenics, Inc. (Nasdaq: MGNX) announced it will release its fourth quarter 2022 financial results on March 15, 2023, after market close. A conference call to discuss these results and corporate progress will follow at 4:30 pm ET on the same day. Investors can register in advance for telephone participation, receiving a confirmation email with access details. A listen-only webcast will also be available on the company's website under the Investor Relations section. MacroGenics is focused on developing innovative monoclonal antibody therapeutics for cancer treatment, leveraging proprietary antibody technology and strategic collaborations.