MacroGenics Q3 net income $17.6M ($0.28 EPS); cash $256.4M; TAMARACK enrollment ahead of schedule

MACROGENICS INC

2023-Q3 EPS reported $0.60 revenue$48,029,000

Net income $17.6M ($0.28 diluted EPS) vs net loss $24.8M in Q3 2022; revenue $10.4M down from $41.7M.
Cash and marketable securities $256.4M; expect cash runway into 2026; received $15.7M Gilead milestone and $50M Sanofi milestone in Q3.
Completed enrollment of TAMARACK Phase 2 study of vobra duo ahead of schedule; data readout expected H1 2024.
Initiated LORIKEET Phase 2 of lorigerlimab in mCRPC; IND submitted for MGC026 ADC; Phase 1 to start Q1 2024.
R&D expenses $30.1M (down from $48.2M); SG&A $12.4M (down from $15.4M); shares outstanding 62.0M.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

MACROGENICS INC reported the quarter ended September 30, 2023 results: revenue $10.4 million.

Period: the quarter ended September 30, 2023
Revenue: $10.4 million
Result: reported results

Exact text from the filing

Total revenue was $10.4 million for the quarter ended September 30, 2023, compared to total revenue of $41.7 million for the quarter ended September 30, 2022.

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Source: SEC EDGAR

accession 0001125345-23-000125

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