MacroGenics Inc · Q4 2019 earnings

Briefing

MacroGenics reported its financial results for the fourth quarter of 2019 and provided a corporate progress update.

MacroGenics reported its full year 2019 financial results, with a net loss of $151.8 million and total revenue of $64.2 million. The company's cash, cash equivalents, and marketable securities were $215.8 million as of December 31, 2019, which they expect will fund operations into 2021.

• BLA for margetuximab for metastatic HER2-positive breast cancer was accepted for review by the FDA.
• Phase 2/3 MAHOGANY study is ongoing in front-line advanced HER2-positive gastric cancer.
• First clinical data from Phase 1/2 studies of MGD013, MGC018 and MGD019 are anticipated in 2020.
• MacroGenics anticipates that its cash, cash equivalents and marketable securities as of December 31, 2019, combined with anticipated and potential collaboration payments, will enable it to fund its operations into 2021.

Headline financials

Revenue & EPS history

MacroGenics anticipates that its cash, cash equivalents and marketable securities as of December 31, 2019, combined with anticipated and potential collaboration payments, will enable it to fund its operations into 2021, assuming the Company’s programs and collaborations advance as currently contemplated. Through the prioritization of programs and ongoing realignment of its resources, MacroGenics is focused on extending its cash runway into 2022.