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ROCKVILLE, Md., March 09, 2026 (GLOBE NEWSWIRE) -- MacroGenics, Inc. (NASDAQ: MGNX), a clinical-stage biopharmaceutical company focused on developing innovative antibody-based therapeutics for the treatment of cancer, today provided an update on its recent corporate progress, reported financial results for the year ended December 31, 2025, and highlighted anticipated data disclosure timelines for its product pipeline.
“I am excited about MacroGenics' future prospects, and am inspired by the commitment of our employees over the past few quarters to sharpen our focus and advance our strategic priorities," said Eric Risser, President and CEO of MacroGenics. "Looking ahead, we anticipate several important milestones in 2026, including initial clinical data from the Phase 1 studies of MGC026 and MGC028, and from the LINNET study of lorigerlimab. Additionally, we plan to submit an IND for MGC030, a first-in-class topoisomerase I inhibitor-based ADC. Finally, with cash runway into late 2027, we believe we are well positioned to execute on our plan and drive meaningful value for our shareholders."
Corporate Progress and Anticipated Milestones
Innovative ADC Pipeline
MacroGenics is developing potential best-in-class or first-in-class antibody-drug conjugates (ADCs) that leverage its protein engineering expertise and incorporate potent glycan-linked exatecan payloads designed to enable an expanded therapeutic window. The proprietary drug-linker platform is licensed from Synaffix B.V., a Lonza company.
MacroGenics' two clinical-stage ADC programs, MGC026 and MGC028, have demonstrated acceptable safety profiles to date, with no observations of interstitial lung disease, as well as encouraging early evidence of anti-tumor activity by Response Evaluation Criteria in Solid Tumors (RECIST).
Lorigerlimab
The LINNET study is a Phase 2 monotherapy trial evaluating lorigerlimab, a PD-1 × CTLA-4 bispecific DART® molecule, in patients with either platinum-resistant ovarian cancer (PROC) or clear cell gynecologic cancer (CCGC). As previously announced, the FDA has placed a partial clinical hold on the LINNET study, and no new patients are being enrolled while the hold remains in effect. MacroGenics is working closely with the FDA to resolve the partial clinical hold as soon as possible. MacroGenics continues to plan for a clinical update in mid-2026.
Partnership Updates
2025 Financial Results
| MACROGENICS, INC. SELECTED CONSOLIDATED BALANCE SHEET DATA (Amounts in thousands) | ||||||
| December 31, 2025 | December 31, 2024 | |||||
| Cash, cash equivalents and marketable securities | $ | 189,913 | $ | 201,667 | ||
| Total assets | 256,846 | 261,655 | ||||
| Deferred revenue | 66,424 | 71,822 | ||||
| Total stockholders' equity | 55,591 | 116,057 | ||||
| MACROGENICS, INC. CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS (Amounts in thousands, except share and per share data) | ||||||||||||
| Year Ended December 31, | ||||||||||||
| 2025 | 2024 | 2023 | ||||||||||
| Revenues: | ||||||||||||
| Collaborative and other agreements | $ | 87,183 | $ | 119,918 | $ | 30,546 | ||||||
| Contract manufacturing | 52,631 | 13,057 | 9,833 | |||||||||
| Product sales, net | — | 16,426 | 17,939 | |||||||||
| Royalty revenue | 9,686 | 561 | 431 | |||||||||
| Total revenues | 149,500 | 149,962 | 58,749 | |||||||||
| Costs and expenses: | ||||||||||||
| Cost of product sales | — | 847 | 619 | |||||||||
| Cost of manufacturing services | 36,009 | 11,452 | 7,603 | |||||||||
| Research and development | 147,172 | 177,194 | 166,583 | |||||||||
| Selling, general and administrative | 39,160 | 71,047 | 52,188 | |||||||||
| Total costs and expenses | 222,341 | 260,540 | 226,993 | |||||||||
| Loss from operations | (72,841 | ) | (110,578 | ) | (168,244 | ) | ||||||
| Gain on royalty monetization arrangement | — | — | 150,930 | |||||||||
| Gain on sale of MARGENZA | — | 36,250 | — | |||||||||
| Interest and other income | 6,057 | 9,421 | 9,686 | |||||||||
| Interest and other expense | (8,508 | ) | (1,115 | ) | (1,430 | ) | ||||||
| Loss before income taxes | (75,292 | ) | (66,022 | ) | (9,058 | ) | ||||||
| Income tax (benefit) expense | (672 | ) | 944 | — | ||||||||
| Net loss | (74,620 | ) | (66,966 | ) | (9,058 | ) | ||||||
| Other comprehensive income (loss): | ||||||||||||
| Unrealized gain (loss) on investments | 28 | 10 | (1 | ) | ||||||||
| Comprehensive loss | $ | (74,592 | ) | $ | (66,956 | ) | $ | (9,059 | ) | |||
| Basic and diluted net loss per common share | $ | (1.18 | ) | $ | (1.07 | ) | $ | (0.15 | ) | |||
| Basic and diluted weighted average common shares outstanding | 63,155,096 | 62,621,185 | 61,929,198 | |||||||||
About MacroGenics, Inc.
MacroGenics (the Company) is a biopharmaceutical company focused on developing innovative monoclonal antibody-based therapeutics for the treatment of cancer. The Company generates its pipeline of product candidates primarily from its proprietary suite of next-generation antibody-based technology platforms, which have applicability across broad therapeutic domains. The combination of MacroGenics' technology platforms and protein engineering expertise has allowed the Company to generate promising product candidates and enter into several strategic collaborations with global pharmaceutical and biotechnology companies. For more information, please see the Company's website at www.macrogenics.com. MacroGenics, the MacroGenics logo, DART and TRIDENT are trademarks or registered trademarks of MacroGenics, Inc.
Cautionary Note on Forward-Looking Statements
Any statements in this press release about future expectations, plans and prospects for MacroGenics (“Company”), including statements about the Company’s strategy, future operations, clinical development of and regulatory plans for the Company’s therapeutic candidates, expected timing of the release of clinical updates and safety and efficacy data for the Company’s ongoing clinical trials, anticipated cash runway and other statements containing the words “subject to”, "believe", “anticipate”, “plan”, “expect”, “intend”, “estimate”, “potential,” “project”, “may”, “will”, “should”, “would”, “could”, “can”, the negatives thereof, variations thereon and similar expressions, or by discussions of strategy, including our ability to execute on our key strategic priorities for 2025 and 2026, constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including: the risk of delays or failure in reaching an agreement with the FDA regarding the release of a clinical hold; risks that TZIELD, lorigerlimab, ZYNYZ, or any other product candidate’s revenue, expenses and costs may not be as expected, risks relating to TZIELD, lorigerlimab, ZYNYZ, or any other product candidate’s market acceptance, competition, reimbursement and regulatory actions; future data updates, including timing and results of efficacy and safety data with respect to product candidates in ongoing clinical trials; our ability to provide manufacturing services to our customers; the uncertainties inherent in the initiation and enrollment of future clinical trials; the availability of financing to fund the internal development of our product candidates; expectations of expanding ongoing clinical trials; expectations for the timing and steps required in the regulatory review process; expectations for regulatory approvals; expectations of future milestone payments; the impact of competitive products; our ability to enter into agreements with strategic partners and other matters that could affect the availability or commercial potential of the Company's product candidates; business, economic or political disruptions due to catastrophes or other events, including natural disasters, terrorist attacks, civil unrest and actual or threatened armed conflict, or public health crises; costs of litigation and the failure to successfully defend lawsuits and other claims against us; and other risks described in the Company's filings with the Securities and Exchange Commission. In addition, the forward-looking statements included in this press release represent the Company's views only as of the date hereof. The Company anticipates that subsequent events and developments will cause the Company's views to change. However, while the Company may elect to update these forward-looking statements at some point in the future, the Company specifically disclaims any obligation to do so, except as may be required by law. These forward-looking statements should not be relied upon as representing the Company's views as of any date subsequent to the date hereof.
CONTACTS
Jim Karrels, Senior Vice President, CFO
1-301-251-5172
[email protected]
Argot Partners
1-212-600-1902
[email protected]
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