Overview

* MacroGenics ( MGNX ) Q3 revenue declines 34.2% yr/yr

* Company secures $75 mln in partnering proceeds from Sanofi and Gilead

* MacroGenics ( MGNX ) ends lorigerlimab prostate cancer development, continues ovarian cancer focus

Outlook

* MacroGenics ( MGNX ) extends cash runway guidance into late 2027

* Company continues development of lorigerlimab in ovarian cancer

* MacroGenics ( MGNX ) aims to strengthen financial position through partnerships and asset monetization

Result Drivers

* PARTNERSHIP PAYMENTS - MacroGenics ( MGNX ) secured $75 mln in non-dilutive partnership payments from Sanofi and Gilead

* PIPELINE REALIGNMENT - Co ends lorigerlimab development in prostate cancer, continues focus on ovarian cancer

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 $72.84

Revenue mln

Q3 Net $16.82

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 49.3% above its November 11 closing price of $1.52

Press Release:

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(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.)