Overview

• MacroGenics Q3 revenue declines 34.2% yr/yr

• Company secures $75 mln in partnering proceeds from Sanofi and Gilead

• MacroGenics ends lorigerlimab prostate cancer development, continues ovarian cancer focus

Outlook

• MacroGenics extends cash runway guidance into late 2027

• Company continues development of lorigerlimab in ovarian cancer

• MacroGenics aims to strengthen financial position through partnerships and asset monetization

Result Drivers

• PARTNERSHIP PAYMENTS - MacroGenics secured $75 mln in non-dilutive partnership payments from Sanofi and Gilead

• PIPELINE REALIGNMENT - Co ends lorigerlimab development in prostate cancer, continues focus on ovarian cancer

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 49.3% above its November 11 closing price of $1.52

Press Release: ID:nGNX21T1PX

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)