Earnings ·
MacroGenics reported a net income of $19.5 million for the quarter ended June 30, 2026, driven by an $89.2 million…
MGNXMacrogenics Inc
MacroGenics reported a net income of $19.5 million for the quarter ended June 30, 2026, driven by an $89.2 million gain from discontinued operations related to the sale of its GMP manufacturing operations to Bora Pharmaceuticals for $122.5 million. Total revenue rose to $32.8 million, including a $24.5 million regulatory milestone from Sanofi and $7.3 million in royalties. The company received $10.0 million from Gilead Sciences upon the exercise of an option to license a preclinical bispecific program. MacroGenics transitioned to a fully outsourced manufacturing model with a streamlined workforce of approximately 140 employees, resulting in pro forma cash and marketable securities of $327 million and extending its cash runway through 2028. Pipeline updates include MGC026 advancing into Stage 2 for squamous cell carcinoma of the head and neck, MGD032 entering IND-enabling studies, and MGC030 receiving FDA clearance with first patient dosing expected in Q3 2026. MacroGenics is a clinical-stage biopharmaceutical company focused on developing innovative antibody-based therapeutics for cancer.