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Total Revenue: $150 million for the year ended December 31, 2024, up from $58.7 million in 2023.
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Revenue from Collaborative and Other Agreements: $118.9 million.
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MARGENZA Net Sales: $16.4 million.
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Contract Manufacturing Revenue: $13.1 million.
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Research and Development Expenses: $177.2 million, up from $166.6 million in 2023.
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Selling, General, and Administrative Expenses: $71 million, up from $52.2 million in 2023.
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Net Loss: $67 million for the year ended December 31, 2024, compared to $9.1 million in 2023.
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Cash, Cash Equivalents, and Marketable Securities: $201.7 million as of December 31, 2024, down from $229.8 million in 2023.
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Cash Runway: Expected to extend into the second half of 2026.
Release Date: March 20, 2025
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
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Macrogenics Inc (NASDAQ:MGNX) achieved significant clinical development milestones in 2024, positioning the company for continued progress in 2025.
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The company completed enrollment in the LORIKEET Phase 2 trial for lorigerlimab, targeting metastatic castration-resistant prostate cancer.
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Macrogenics Inc (NASDAQ:MGNX) reported a substantial increase in total revenue for 2024, reaching $150 million, primarily due to milestones achieved under the Incyte License Agreement.
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The company has a promising ADC portfolio, with MGC026 and MGC028 in clinical development, and MGC030 in preclinical studies.
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Macrogenics Inc (NASDAQ:MGNX) successfully completed the sale of MARGENZA to TerSera Therapeutics, providing non-dilutive capital to invest in their clinical pipeline and R&D efforts.
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The company reported a net loss of $67 million for the year ended December 31, 2024, compared to a net loss of $9.1 million in 2023.
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Research and development expenses increased to $177.2 million in 2024, driven by costs related to MGC028 and lorigerlimab.
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Selling, general, and administrative expenses rose to $71 million in 2024, partly due to an amendment fee paid to a former commercial partner.
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Macrogenics Inc (NASDAQ:MGNX) decided not to pursue further internal development of vobra duo, exploring potential alternatives for partnering the program.
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The company’s cash, cash equivalents, and marketable securities balance decreased to $201.7 million as of December 31, 2024, from $229.8 million in 2023.
Q: On the LINNET study, what are the gating factors to starting? And then on the B7-H3 [TOP1 ADC] where are you in the dose expansion? A: With regard to LINNET, the standard of care in later line ovarian cancer is quite low, with overall response rates of 10% to 15% with anti-PD-1 in experimental settings. We believe our study will inform further development in these indications. For MGC026, the Phase 1 study has enrolled well, and we expect to select a dose for further expansion later this year.
