MacroGenics, Inc., a clinical-stage biopharmaceutical company focused on developing innovative antibody-based therapeutics for cancer treatment, reported total revenues of $149.5 million for the fiscal year ended December 31, 2025, a slight decrease of 0.5% from $150.0 million in 2024. The revenue breakdown included $87.2 million from collaborative agreements, a decline of 27% compared to the previous year, primarily due to a significant milestone payment of $100 million recognized in 2024 under the Incyte License Agreement. Contract manufacturing revenue surged to $52.6 million, up 302% from $13.1 million in 2024, reflecting increased production for external clients. The company no longer reported product sales as it sold the global rights to MARGENZA in November 2024.
The company incurred a net loss of $74.6 million for 2025, compared to a net loss of $67.0 million in 2024. Research and development expenses decreased by 17% to $147.2 million, driven by reduced costs associated with the discontinued vobramitamab program and the winding down of margetuximab activities. Selling, general, and administrative expenses also fell to $39.2 million from $71.0 million, largely due to lower stock-based compensation and professional fees. The accumulated deficit as of December 31, 2025, stood at approximately $1.2 billion.
Strategically, MacroGenics has focused on advancing its proprietary product candidates, including lorigerlimab, MGC026, and MGC028, while also engaging in collaborations with major biopharmaceutical companies like Gilead and Incyte. The company has received over $1.6 billion in non-dilutive funding since its inception, which has been instrumental in supporting its clinical programs and manufacturing capabilities. The company operates a commercial-scale cGMP antibody manufacturing facility in Maryland, which also provides contract development and manufacturing services to offset operational costs.
Looking ahead, MacroGenics anticipates that its cash, cash equivalents, and marketable securities, combined with projected collaboration payments, will support its operations into late 2027. However, the company acknowledges the need for substantial additional funding to continue its research and development efforts. The ongoing macroeconomic conditions, including inflation and geopolitical tensions, may impact the availability of funding and the overall financial landscape for biotechnology companies. The company remains committed to executing cost-saving measures while progressing its pipeline of product candidates.
About MACROGENICS INC
MacroGenics, Inc. is a biopharmaceutical company specializing in the discovery, development, manufacturing, and commercialization of innovative antibody-based cancer therapeutics. Its core platforms include bispecific and multi-specific antibodies, antibody-drug conjugates, and immune checkpoint inhibitors. The company targets solid tumors and hematologic malignancies, leveraging proprietary technologies and strategic collaborations to advance its pipeline and generate revenue through licensing, partnerships, and manufacturing services.
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