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MacroGenics Q3 swings to net loss

By Reuters News


Overview

  • US biopharma firm's Q3 revenue fell sharply

  • Company reported Q3 net loss, compared to net income a year earlier

  • Recent pipeline progress includes completion of MGC028 Phase 1 dose escalation and new Phase 1 study dosing


Outlook

  • MacroGenics expects to initiate randomized evaluation of MGC028 in lead indication by year end 2026

  • Company anticipates interim clinical update for MGC028 in first half of 2027

  • MacroGenics expects its cash position to support operations through 2028


Result Drivers

  • LOWER MILESTONE REVENUE - Co said Q3 revenue decline was mainly due to absence of $50 mln milestone revenue recognized in prior year under Provention (Sanofi) agreement, with only $10 mln from Gilead in 2026

  • INCREASED ROYALTY REVENUE - Co reported higher ZYNYZ royalty revenue in Q3, partially offsetting lower milestone payments

  • LOWER R&D AND G&A COSTS - Co said research and development and general and administrative expenses declined, mainly due to reduced spending on certain programs and lower personnel-related costs


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Revenue

$18.7 mln

Q3 Net Loss

$20.1 mln


Analyst Coverage

  • The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 4 "strong buy" or "buy", 4 "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 $8.50, about 266.4% above its November 11 closing price of $2.32


Reuters Recommended Reads

  • Nov 10 - Liquidia Q3 loss widens on litigation charge, negating Yutrepia demand

  • Nov 10 - Germany's Immatics Q3 revenue misses estimates, net loss widens on higher spending

  • Nov 10 - Kura Oncology's Q3 KOMZIFTI revenue rises 53% sequentially


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(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.)

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