MacroGenics Q2 net loss $55.7M; receives $100M Incyte milestone

MACROGENICS INC

2024-Q2 EPS reported -$1.73 revenue$19,901,000

Net loss of $55.7M ($0.89 diluted EPS) vs net income of $57.5M in Q2 2023.
Revenue of $10.8M, down from $13.1M YoY, driven by lower Provention revenue.
Cash $140.4M at June 30; $100M Incyte milestone received post-quarter extends cash runway into 2026.
TAMARACK Phase 2 mCRPC data (vobra duo) to be presented at ESMO in September 2024.
MGC028 IND expected by end 2024; LORIKEET Phase 2 enrollment completion anticipated in 2024/early 2025.

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