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MGNX

MacroGenics, Inc.

MGNX

MacroGenics, Inc. • NASDAQ
$1.53 ▲ 3.38% (+0.05)
Market Cap $96.79 M
52w High $3.77
52w Low $0.99
Dividend Yield 0%
P/E -1.26
Volume 269.13K
Outstanding Shares 63.26M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $72.839M ▲ $40.825M ▼ $16.822M ▲ 23.095% ▲ $0.27 ▲ $21.953M ▲
Q2-2025 $22.241M ▲ $50.093M ▼ $-36.251M ▲ -162.992% ▲ $-0.57 ▲ $-33.437M ▲
Q1-2025 $13.192M ▼ $50.416M ▼ $-41.036M ▼ -311.067% ▼ $-0.65 ▼ $-39.174M ▼
Q4-2024 $17.73M ▼ $65.077M ▲ $-15.421M ▼ -86.977% ▼ $-0.25 ▼ $-12.448M ▼
Q3-2024 $110.708M $14.104M $56.309M 50.863% $0.9 $56.026M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $146.397M ▼ $270.763M ▲ $203.762M ▲ $67.001M ▲
Q2-2025 $176.486M ▲ $245.416M ▲ $198.798M ▲ $46.618M ▼
Q1-2025 $154.141M ▼ $224.565M ▼ $145.446M ▼ $79.119M ▼
Q4-2024 $201.667M ▲ $261.655M ▼ $145.598M ▲ $116.057M ▼
Q3-2024 $200.363M $264.492M $144.426M $120.066M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $16.822M ▲ $-30.186M ▲ $-20.371M ▲ $0 ▼ $-50.557M ▼ $-30.612M ▲
Q2-2025 $-36.251M ▲ $-46.985M ▼ $-37.638M ▼ $69.739M ▲ $-14.884M ▲ $-47.7M ▼
Q1-2025 $-41.036M ▼ $-46.89M ▼ $9.902M ▼ $-282K ▼ $-37.27M ▼ $-47.419M ▼
Q4-2024 $-15.421M ▼ $-38.407M ▼ $41.467M ▲ $155K ▲ $3.215M ▼ $-39.027M ▼
Q3-2024 $56.309M $60.162M $35.599M $-68K $95.693M $59.57M

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
Contract Manufacturing
Contract Manufacturing
 $0 ▲$10.00M ▲$20.00M ▲$20.00M ▲
RevenueFromCollaborativeAgreementsMember
RevenueFromCollaborativeAgreementsMember
 $0 ▲$10.00M ▲$10.00M ▲$50.00M ▲
Product
Product
 $0 ▲$0 ▲$0 ▲$0 ▲

Five-Year Company Overview

Income Statement

Income Statement MacroGenics remains a classic clinical‑stage biotech story: very limited revenue, largely from collaborations and milestones, and ongoing operating losses. Over the past several years, revenue has been small and somewhat uneven, reflecting the timing of partnership payments rather than steady product sales. Gross margins look fine when revenue arrives, but the company’s research and development and overhead costs are much larger than its income, so operating and net results stay meaningfully negative. The most recent year shows some improvement in operating loss versus the prior year, but not a fundamental shift to a self‑funding business model. Overall, the income statement tells a story of promising technology still in the investment phase, not yet in the monetization phase.

Balance Sheet

Balance Sheet The balance sheet shows a company with a decent cash cushion relative to its size and only modest debt, which is positive for a high‑risk biotech. Cash levels dipped in the middle of the period and then improved, helped by partnerships and capital discipline. Total assets have gradually trended down from earlier years, and shareholder equity has also eroded over time as cumulative losses stack up, which is typical for a development‑stage biotech without substantial recurring revenue. Debt has stayed low and fairly stable, suggesting limited balance‑sheet leverage. Overall, the financial position looks reliant on careful cash management and external funding, but not overburdened by obligations.

Cash Flow

Cash Flow Cash flow reflects the company’s stage: it consistently spends more cash on operations than it brings in. Operating and free cash flow are both negative across the five‑year period, indicating an ongoing cash burn to fund trials and platform development. On the positive side, the level of cash burn has modestly improved in recent years, and capital spending is very light, so most outflows are tied directly to R&D and operations rather than big fixed investments. The business still depends on its starting cash, partnership inflows, and potential future financing to sustain its pipeline, but current trends suggest a more controlled burn rather than accelerating cash use.

Competitive Edge

Competitive Edge MacroGenics competes in one of the most crowded and innovation‑driven areas of healthcare: immuno‑oncology. Its main edge comes from proprietary platforms—DART, TRIDENT, Fc optimization, and ADC know‑how—that allow it to design complex, multi‑targeted antibody therapies that many peers cannot easily copy. The company also has in‑house manufacturing capabilities and a track record of partnerships with larger pharmaceutical companies, which provide both validation and funding. On the other hand, it faces intense competition from big pharma and other biotechs chasing similar cancer targets, plus the usual clinical, regulatory, and pricing risks. Discontinuation of one B7‑H3 ADC program shows that not every asset will succeed, so the moat is more about scientific depth and platform breadth than about any single product.

Innovation and R&D

Innovation and R&D Innovation is clearly the heart of MacroGenics. Its R&D engine is built around advanced antibody engineering: bispecific and trispecific formats (DART/TRIDENT), Fc‑enhanced antibodies to better recruit the immune system, and targeted ADCs designed to deliver chemotherapy directly to tumors. The pipeline includes checkpoint‑blocking bispecifics like lorigerlimab, next‑generation T‑cell engagers such as MGD024 (in partnership with Gilead), and multiple ADC programs against novel tumor targets. The company has shown willingness to prune its portfolio—shutting down internal development of vobramitamab duocarmazine when the risk‑benefit profile disappointed—freeing resources for more promising assets. Overall, the R&D strategy is high‑science, high‑risk, and potentially high‑reward, with long timelines and significant clinical uncertainty typical of oncology drug development.

Summary

MacroGenics is a scientifically ambitious, clinical‑stage biotech focused on antibody‑based cancer therapies. Financially, it remains a loss‑making, cash‑burning business with small, irregular revenues tied mainly to partnerships rather than broad commercial sales. Its balance sheet shows limited debt and a meaningful, but finite, cash runway, making continued execution on collaborations and careful spending critical. The company’s real value lies in its technology platforms and pipeline: multi‑specific antibodies, Fc‑enhanced drugs, and ADCs, backed by notable partners. Its future will likely hinge on whether key programs—such as lorigerlimab, the newer ADCs, and partnered T‑cell engagers—can generate strong clinical data and progress toward approval. As with most oncology biotechs, the upside potential is paired with substantial scientific, regulatory, and financing risk, and outcomes will be driven more by trial results than by current financials.

NEWS

November 25, 2025 · 4:05 PM UTC

MacroGenics to Participate in the 8th Annual Evercore Healthcare Conference

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November 12, 2025 · 4:01 PM UTC

MacroGenics Reports Third Quarter 2025 Financial Results and Provides Update on Corporate Progress

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November 6, 2025 · 4:30 PM UTC

MacroGenics to Participate in the Stifel 2025 Healthcare Conference

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September 2, 2025 · 4:30 PM UTC

MacroGenics to Present at H.C. Wainwright 27th Annual Global Investment Conference

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