MacroGenics Q2 revenue rises

Overview

• MacroGenics Q2 revenue rises to $22.2 mln, driven by higher manufacturing volume

• Company received $70 mln upfront from Sagard for ZYNYZ royalty agreement

• Net loss narrows to $36.3 mln, cash runway expected through H1 2027

Outlook

• MacroGenics anticipates cash runway through first half of 2027

Result Drivers

• REVENUE INCREASE - Higher manufacturing volume and increased collaboration revenue drove Q2 revenue to $22.2 mln

• ROYALTY AGREEMENT - $70 mln upfront payment from Sagard for ZYNYZ royalty purchase agreement contributed to financial position

• COST MANAGEMENT - Decreased R&D and SG&A expenses helped narrow net loss to $36.3 mln

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 2 "strong buy" or "buy", 5 "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the biotechnology & medical research peer group is "buy."

• Wall Street's median 12-month price target for MacroGenics Inc is $3.00, about 44.7% above its August 13 closing price of $1.66

Press Release: ID:nGNX5sCdQy