MacroGenics, Inc. - MGNX STOCK NEWS

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.

MacroGenics, Inc. (Nasdaq: MGNX) announced its participation in significant investor conferences in March 2023. The company's President & CEO, Scott Koenig, will join the TD Cowen’s 43rd Annual Health Care Conference in Boston on March 7, 2023, for a corporate panel discussion. Additionally, he will participate in a fireside chat at the Barclays Global Healthcare Conference in Miami on March 14, 2023. Management will also engage in one-on-one meetings during both events. Webcasts of the presentations will be available on the company's Investor Relations website, with an archived replay for 30 days.

MacroGenics announced preliminary results from the Phase 1 trial of lorigerlimab for metastatic castration-resistant prostate cancer (mCRPC). In the cohort expansion, 12 of 42 patients achieved ≥ 50% reduction in PSA levels, while 9 patients (21.4%) had ≥ 90% reduction. The overall safety profile was manageable, with the company preparing to launch a Phase 2 study in mCRPC later in 2023. These findings are set to be presented at the ASCO-GU Symposium, showcasing the therapeutic potential of lorigerlimab and indicating promising efficacy in mCRPC patients.

ROCKVILLE, MD, Feb. 6, 2023 (GLOBE NEWSWIRE) -- MacroGenics, Inc. (Nasdaq: MGNX), a biopharmaceutical company focused on antibody-based therapeutics for cancer, has announced participation in two investor conferences. On February 9, 2023, President & CEO Scott Koenig, M.D., Ph.D., will engage in a fireside chat at the Guggenheim Healthcare Talks in New York. Following this, on February 14, 2023, he will present at the SVB Securities Global Biopharma Conference. Both events will also include one-on-one meetings. Interested parties can access a webcast of these presentations on the MacroGenics Investor Relations website, available for 30 days.

MacroGenics, a biopharmaceutical company focused on innovative antibody-based cancer therapies, will present at the 41^st Annual J.P. Morgan Healthcare Conference. Scott Koenig, M.D., Ph.D., President & CEO, will deliver a business update on January 12, 2023, at 9:45 am PT / 12:45 pm ET. The presentation can be accessed via a webcast on MacroGenics' Investor Relations webpage, with an archived replay available for 30 days. MacroGenics leverages proprietary antibody technology platforms to develop its pipeline and establish strategic collaborations.