MacroGenics, Inc. - MGNX STOCK NEWS

MacroGenics (NASDAQ: MGNX) has announced a significant collaboration with Zai Lab, granting exclusive rights to develop up to four bispecific molecules targeting immuno-oncology. The deal includes an upfront payment of $25 million and a $30 million equity investment in MacroGenics at $31.30 per share. The collaboration allows both companies to leverage their intellectual properties, with Zai receiving rights in Greater China, Japan, and Korea, and MacroGenics retaining rights in other territories. Potential milestone payments could total $1.4 billion, along with royalties from net sales.

MacroGenics (NASDAQ: MGNX) reported encouraging preliminary data from its Phase 1 trial of MGC018, an investigational anti-B7-H3 antibody-drug conjugate. Preliminary results show anti-tumor activity in melanoma and metastatic castration-resistant prostate cancer (mCRPC), with 50% of mCRPC patients achieving a significant PSA reduction. The trial enrolled 29 patients, with a recommended Phase 2 dose established at 3.0 mg/kg. A conference call to discuss the results is scheduled for June 4, 2021, coinciding with a presentation at the ASCO Annual Meeting.

MacroGenics, Inc. (Nasdaq: MGNX), a biopharmaceutical company, announced its participation in Cowen’s 2nd Annual Virtual Oncology Innovation Summit. The management will engage in a fireside chat on May 20, 2021, at 9:20 am ET. A webcast of the event can be accessed on the Company’s Investor Relations page. MacroGenics focuses on developing monoclonal antibody-based therapeutics for cancer treatment, leveraging innovative technology platforms and strategic collaborations for its product pipeline.

MacroGenics (NASDAQ: MGNX) released its Q1 2021 financial results, reporting a net loss of $51.3 million, up from $44.7 million year-over-year. Total revenue increased to $16.9 million, spurred by the launch of MARGENZA, which generated $0.9 million in net sales. R&D expenses rose to $53.1 million, while SG&A expenses increased to $15 million due to MARGENZA's launch costs. As of March 31, 2021, cash and equivalents stood at $343.2 million, sufficient to fund operations through 2023. A conference call is scheduled to discuss these results further.

MacroGenics, Inc. (Nasdaq: MGNX) will release its first quarter 2021 financial results on April 29, 2021, after market close. A conference call is scheduled for the same day at 4:30 pm ET to discuss the results and corporate developments. Interested parties can join the call by dialing (877) 303-6253 for domestic or (973) 409-9610 for international access, using Conference ID# 5257004. The call will also be available via a listen-only webcast on the company's Investor Relations website, with a recorded replay accessible for 30 days.

MacroGenics, Inc. (Nasdaq: MGNX) announced its participation at the AACR Annual Meeting from April 10-15, 2021, showcasing three innovative antibody-based therapeutic technologies. The highlighted therapeutic candidates include MGC018, which showed potent antitumor activity in mouse models, currently under Phase 1 trials for advanced solid tumors, margetuximab, designed to enhance immune responses, and IMGC936, directed against ADAM9-expressing tumors. The presentations signal MacroGenics' commitment to advancing its oncology pipeline.

MacroGenics, focused on innovative monoclonal antibody therapies for cancer, will participate in several investor conferences in March 2021. Key events include:

• Cowen 41^st Annual Health Care Conference on March 2, where management will join the Breast Cancer Panel at 2:10 pm ET.
• H.C. Wainwright & Co. Global Life Sciences Conference on March 9 for one-on-one meetings and an on-demand corporate overview.
• Barclays Global Healthcare Conference on March 11 for one-on-one meetings and an overview at 3:45 pm ET.

Webcasts will be accessible on their Investor Relations website.

MacroGenics, Inc. (NASDAQ: MGNX) has announced the upcoming commercial launch of its first FDA-approved drug, MARGENZA, expected in March 2021. The approval was granted for treating HER2-positive breast cancer in patients with prior anti-HER2 treatments. The company reported a revenue increase to $104.9 million for 2020, up from $64.2 million in 2019, alongside a reduced net loss of $129.7 million compared to $151.8 million the previous year. Key clinical trials, including those for flotetuzumab and margetuximab, are set to advance in 2021, with multiple updates anticipated throughout the year.

MacroGenics, Inc. (Nasdaq: MGNX) announced it will release its financial results for Q4 and full year 2020 on February 25, 2021, after market close. A conference call to discuss the results and corporate progress will occur the same day at 4:30 PM ET. Interested parties can join by calling (877) 303-6253 domestically or (973) 409-9610 internationally, using Conference ID 6094343. A listen-only webcast will be available on the company’s Investor Relations page and accessible for 30 days post-call.