MacroGenics shares volatile post update on Tamarack and upcoming ASCO meeting

Shares of biopharma oncology company MacroGenics fell almost 30% to approximately $9 per share after the company said “Safety data from the company’s ongoing TAMARACK Phase 2 study was submitted in early February to the American Society of Clinical Oncology or ASCO for presentation at the upcoming Annual Meeting that begins May 31. The abstract containing this early interim data, based on a January 4, data cut-off, was not accepted. While the TAMARACK data will not be presented at the ASCO Annual Meeting, we intend to maintain our previously disclosed plan to share further TAMARACK interim data, including updated safety and preliminary efficacy, by the end of May,” said Scott Koenig, M.D., Ph.D., President and Chief Executive Officer. “This updated information will be based upon a future data cut-off. In addition, we still anticipate presenting updated clinical data – including radiographic progression-free survival, or rPFS, the study’s primary endpoint – in the Fall of 2024.” Shares have reversed and are now up almost 3% in late-day trading on Wednesday evening.