MacroGenics, Inc. - MGNX STOCK NEWS

MacroGenics, Inc. (NASDAQ: MGNX) announced that the U.S. FDA has approved the Biologics License Application (BLA) for teplizumab, an anti-CD3 monoclonal antibody, previously developed by the company. Acquired by Provention Bio in 2018, teplizumab represents a significant advancement for individuals with type 1 diabetes. Provention will pay MacroGenics up to $395 million in milestone payments, including $60 million for the BLA approval. MacroGenics expects to maintain a cash runway into late 2024, based on current cash and anticipated partnership payments.

MacroGenics, Inc. (NASDAQ: MGNX) announced significant corporate progress, including a $60 million collaboration with Gilead for the development of bispecific antibodies such as MGD024. The company reported a net loss of $24.8 million for Q3 2022, an improvement from $52.9 million in Q3 2021. Revenue increased to $41.7 million, boosted by milestone payments and product sales. MacroGenics anticipates initiating the Phase 2 TAMARACK prostate cancer study by year-end 2022 and expects cash runway to extend into mid-2024, supported by recent financial influxes.

MacroGenics, Inc. (Nasdaq: MGNX), a biopharmaceutical company focused on cancer therapeutics, will participate in several investor conferences throughout November 2022. Key events include a BMO Biopharma Spotlight Series fireside chat on November 9 at 2:30 pm ET, a Stifel Healthcare Conference chat on November 15 at 10:55 am ET, and an Evercore ISI HEALTHCONx Conference chat on November 30 at 8:50 am ET. Management will also hold one-on-one meetings at these events. Webcasts will be available on the MacroGenics website.

MacroGenics, Inc. (Nasdaq: MGNX) announced it will release its third-quarter 2022 financial results on November 3, 2022, after market close. A conference call to discuss these results and the company's recent corporate developments will follow at 4:30 PM ET on the same day. All interested participants are encouraged to register for the call via a provided link to receive confirmation details. MacroGenics continues to focus on developing innovative monoclonal antibody-based therapeutics for cancer treatment, leveraging its advanced technology platforms.

Gilead Sciences (NASDAQ: GILD) has secured an exclusive option for the MGD024 molecule, a bispecific antibody targeting CD123 and CD3, through a collaboration with MacroGenics (NASDAQ: MGNX). This molecule aims to treat blood cancers such as acute myeloid leukemia (AML) and myelodysplastic syndromes (MDS). Gilead has committed $60 million upfront, with a total potential of $1.7 billion in milestones. The Phase 1 study will assess MGD024's efficacy and safety while Gilead may opt to license it at set decision points.

MacroGenics, Inc. (Nasdaq: MGNX), a biopharmaceutical company specializing in innovative cancer therapeutics, will present at three key investor conferences this September 2022. CEO Scott Koenig, M.D., Ph.D., will participate in the Citi 17th Annual BioPharma Conference on September 7 at 2:40 pm ET, the H.C. Wainwright 24th Annual Global Investment Conference on September 12 at 10:30 am ET, and the Guggenheim Nantucket Therapeutics Conference on September 28 at 2:30 pm ET. Webcasts will be available on the company's website.

MacroGenics (MGNX) has announced critical developments, including the initiation of a Phase 1 study for MGD024 in CD123-positive hematologic malignancies and plans for a Phase 2/3 study of MGC018 in metastatic castration-resistant prostate cancer by year-end. Financially, the company recorded a net loss of $41.3 million for Q2 2022 and total revenue of $26 million, down from $30.8 million year-over-year. A restructuring plan aims to extend the cash runway into 2024, supported by recent $30 million milestone payments from Incyte.

MacroGenics, a biopharmaceutical firm specializing in monoclonal antibody-based therapeutics for cancer treatment, will announce its second-quarter 2022 financial results on August 8, 2022, after market closure. A conference call to discuss these results and corporate progress will follow at 4:30 PM ET on the same day. Interested participants can register for the call and access a webcast on the company's Investor Relations website. MacroGenics aims to leverage its innovative technology platforms to develop promising therapeutics and engage in strategic collaborations.

MacroGenics, Inc. (NASDAQ: MGNX) announced the closure of its Phase 2 study evaluating enoblituzumab in combination with either retifanlimab or tebotelimab for advanced head and neck cancer treatment, effective July 7, 2022. This decision followed an internal safety review revealing seven fatalities, with a higher incidence of hemorrhagic events than the literature reports. While most fatalities were attributed to disease progression, the finding raised safety concerns. The company continues to monitor these events while emphasizing participant safety and ongoing studies with other candidates.