04:32 PM EST, 03/07/2024 (MT Newswires) -- MacroGenics ( MGNX ) Thursday night reported a 2023 net loss of $0.15 per diluted share, compared with a $1.95 loss a year ago.

Analysts polled by Capital IQ expected net income of $0.43.

Revenue for the 12 months ended Dec. 31 was $58.75 million, down from $151.94 million the prior year.

Analysts expected $80.9 million.

The biopharmaceutical company had $229.8 million in cash and equivalents at the end of 2023, which it expects will extend its operating runway into 2026.

The stock was down more than 9% in extended trading.

Price: 18.59, Change: -1.92, Percent Change: -9.36