On November 12, 2026 MacroGenics, Inc. (NASDAQ: MGNX), a clinical-stage biopharmaceutical company focused on developing innovative antibody-based therapeutics for the treatment of cancer, reported financial results for the quarter ended September 30, 2026, and highlighted recent corporate progress.

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"MacroGenics has made significant progress over the past year. We have strengthened our business, sharpened our pipeline development priorities, delivered on key strategic objectives and generated approximately $290 million in non-dilutive capital over the past 12 months," said Eric Risser, President and Chief Executive Officer of MacroGenics. "We are grateful to our employees and partners for their dedication and contributions to this progress. Looking ahead, we believe MacroGenics is well positioned for a year of important milestones in 2027, with multiple opportunities to demonstrate the potential of our innovative pipeline while maintaining a disciplined approach to capital allocation."

Advancement of Innovative Pipeline
MacroGenics is developing a portfolio of investigational agents, including novel topoisomerase I inhibitor-based antibody-drug conjugate (ADC), T-cell engager (TCE) and dual checkpoint inhibitor molecules.

•MGC028 is a first-in-class ADC targeting ADAM9, a protein that is overexpressed in multiple solid tumors. Phase 1 dose escalation of this molecule has been completed, and the Company has selected a lead indication. MacroGenics plans to initiate a randomized evaluation of two dose levels in this indication by year end 2026. As of a data cutoff of October 10, 2026, there were no dose-limiting toxicities, and no cases of ILD or ocular toxicity were reported. The Company intends to provide an interim clinical update, including efficacy and safety results in the lead indication, in the first half of 2027.

•MGC026 is a novel ADC targeting B7-H3, a protein expressed across the tumor microenvironment, including tumor-associated stroma and vasculature. Interim Phase 1 results were reported at the European Society for Medical Oncology (ESMO) (Free ESMO Whitepaper) 2026 Congress (link), including encouraging efficacy data and a manageable safety and tolerability profile in heavily pretreated squamous cell carcinoma of the head and neck (SCCHN) patients. The Company expects to complete enrollment of the ongoing 40-patient SCCHN Simon 2-stage monotherapy cohort by year end 2026, with updated data expected in mid-2027. In parallel, the Company will continue to evaluate the evolving competitive landscape and review the development and collaboration strategies for this molecule.

•MGC030 is a first-in-class ADC targeting an undisclosed antigen expressed across several solid tumors. Following clearance of the Investigational New Drug (IND) application, the first patient was dosed in a Phase 1 study in patients with advanced solid tumors, including urothelial, colorectal, gastric or gastroesophageal junction, esophageal and pancreatic cancers.

•Lorigerlimab is a PD-1 × CTLA-4 bispecific DART molecule being evaluated in patients with advanced gynecologic cancers. At ESMO (Free ESMO Whitepaper) 2026, the Company reported interim Phase 2 results (link) demonstrating encouraging preliminary clinical activity with single-agent lorigerlimab dosed at 6 mg/kg every three weeks (Q3W) in clear cell gynecologic cancer (CCGC). The Company expects to complete enrollment of 20 CCGC patients at a lower dose of 3 mg/kg Q3W by year end 2026, and report updated results in the first half of 2027.

Future Pipeline

MacroGenics is advancing multiple preclinical programs that incorporate proprietary platforms for next-generation TCEs and ADCs. MGD032, a novel next-generation TCE against an undisclosed target, is advancing in IND-enabling studies.

Corporate and Collaboration Updates
•Appointment of New Independent Directors. In late October, MacroGenics appointed Emil Kuriakose, M.D., and Michael Vasconcelles, M.D., two accomplished biopharmaceutical executives with extensive oncology drug development experience, to the Company’s Board of Directors. Drs. Kuriakose and Vasconcelles have established track records guiding innovative biotechnology companies through critical stages of growth and delivering substantial shareholder value.

•Gilead Collaboration. On August 11, the Company announced that Gilead Sciences, Inc. had exercised its option to license a preclinical bispecific program under the companies’ 2022 collaboration agreement. This option exercise triggered a $10.0 million payment to MacroGenics. The Company remains eligible to earn additional milestones and royalties based on net product sales.

Third Quarter 2026 Financial Results
•Cash Position: Cash, cash equivalents and marketable securities as of September 30, 2026, were $287.7 million, compared to $189.9 million as of December 31, 2025. During the third quarter, the Company received $119.6 million in cash consideration from Bora in connection with the sale of its GMP manufacturing operations, $24.5 million as regulatory milestone payment from Sanofi and $10.0 million option license payment from Gilead.

•Revenue: Total revenue was $18.7 million for the quarter ended September 30, 2026, compared to $53.0 million for the quarter ended September 30, 2025. The decrease was primarily due to $50.0 million in milestone revenue recognized in 2025 under the Provention (Sanofi) Asset Purchase Agreement, compared to $10.0 million recognized in 2026 related to the option exercise under the Gilead Agreement, partially offset by a $5.3 million increase in ZYNYZ royalty revenue.

•R&D Expenses: Research and development expenses were $30.6 million for the quarter ended September 30, 2026, compared to $32.7 million for the quarter ended September 30, 2025. The decrease was primarily due to lower costs related to lorigerlimab, vobramitamab duocarmazine, MGC030 manufacturing and IND-enabling activities, and certain preclinical ADCs, partially offset by increased costs related to MGC026, MGC028, MGC030 clinical activities and certain next-generation T-cell engagers.

•G&A Expenses: General and administrative expenses were $8.4 million for the quarter ended September 30, 2026, compared to $9.9 million for the quarter ended September 30, 2025. The decrease was primarily due to lower personnel-related costs, including stock-based compensation expense.
•Net Income (Loss): Net loss was $20.1 million for the quarter ended September 30, 2026, compared to net income of $16.8 million for the quarter ended September 30, 2025.
•Shares Outstanding: Shares of common stock outstanding as of September 30, 2026, were 63,875,835.
•Cash Runway Guidance: MacroGenics anticipates that its cash, cash equivalents and marketable securities of $287.7 million as of September 30, 2026, in addition to projected and anticipated future payments from partners, will support its cash runway through 2028.

(Press release, MacroGenics, NOV 12, 2026, View Source [SID1234674677])