MacroGenics reports Q3 EPS 28c, consensus (10c)

Reports Q3 revenue $10.4M, consensus $48.86M. “Since mid-2022, we have received $335 million in non-dilutive capital from our collaboration partners and reduced our quarterly cash burn, enabling us to extend our cash runway into 2026. Over the next two years, we anticipate having multiple data read-outs, the first of which we expect during the first half of 2024 related to the now fully-enrolled TAMARACK study of vobra duo in metastatic castration-resistant prostate cancer,” said Scott Koenig, M.D., Ph.D., President and CEO of MacroGenics. “During this two-year period, we also expect data from the LORIKEET Phase 2 study of lorigerlimab in prostate cancer, results from the dose escalation study of MGD024 and results from a planned vobra duo plus lorigerlimab dose expansion cohort. Also during this time, we anticipate advancing multiple new ADC molecules from our preclinical portfolio, the first of which (MGC026) recently progressed to IND submission.”