MacroGenics Q2 net income $57.5M on royalty gain; $50M TZIELD milestone from Sanofi

MACROGENICS INC

2023-Q2 EPS reported $0.31 revenue$37,632,000

Net income of $57.5M ($0.92 diluted EPS) vs net loss of $41.3M a year ago; driven by $100.9M gain on royalty monetization.
Total revenue $13.1M, down from $26.0M YoY; collaborative revenue fell to $6.0M from $16.9M.
Cash $240.3M; plus $50M Sanofi milestone; cash runway extends into 2026.
Pipeline: TAMARACK Phase 2 for vobra duo in mCRPC enrolling under amended protocol; lorigerlimab Phase 2 to start.
Received $50M milestone from Sanofi after positive TZIELD Phase 3 data; additional $50M possible if net sales threshold met.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

MACROGENICS INC reported the quarter ended June 30, 2023 results: revenue $13.1 million.

Period: the quarter ended June 30, 2023
Revenue: $13.1 million
Result: reported results

Exact text from the filing

Total revenue was $13.1 million for the quarter ended June 30, 2023, compared to total revenue of $26.0 million for the quarter ended June 30, 2022.

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Source: SEC EDGAR

accession 0001125345-23-000109

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