Overview

* MacroGenics ( MGNX ) Q2 revenue rises to $22.2 mln, driven by higher manufacturing volume

* Company received $70 mln upfront from Sagard for ZYNYZ royalty agreement

* Net loss narrows to $36.3 mln, cash runway expected through H1 2027

Outlook

* MacroGenics ( MGNX ) anticipates cash runway through first half of 2027

Result Drivers

* REVENUE INCREASE - Higher manufacturing volume and increased collaboration revenue drove Q2 revenue to $22.2 mln

* ROYALTY AGREEMENT - $70 mln upfront payment from Sagard for ZYNYZ royalty purchase agreement contributed to financial position

* COST MANAGEMENT - Decreased R&D and SG&A expenses helped narrow net loss to $36.3 mln

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q2 $22.20

Revenue mln

Q2 EPS -$0.57

Q2 Net -$36.30

Income mln

Analyst Coverage

* The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 2 "strong buy" or "buy", 5 "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 ( MGNX ) is $3.00, about 44.7% above its August 13 closing price of $1.66

Press Release:

(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.)