MacroGenics, Inc. reported its financial results for the first quarter of 2025, revealing total revenues of $13.2 million, a 45% increase from $9.1 million in the same period of 2024. The revenue growth was primarily driven by a significant rise in collaborative agreements, which generated $7.0 million compared to $1.6 million a year earlier, and contract manufacturing revenues that increased to $6.2 million from $2.3 million. However, the company did not record any product sales during this quarter, a decrease attributed to the sale of global rights for its product MARGENZA to TerSera Therapeutics in November 2024.
Despite the revenue increase, MacroGenics reported a net loss of $41.0 million for the quarter, an improvement from a net loss of $52.2 million in the first quarter of 2024. The reduction in losses was aided by a decrease in total costs and expenses, which fell to $55.8 million from $62.9 million year-over-year. This decline was largely due to lower research and development expenses, which decreased to $39.7 million from $46.0 million, reflecting reduced costs associated with certain clinical trials and development activities.
In terms of operational developments, MacroGenics continues to advance its clinical pipeline, which includes three proprietary product candidates: lorigerlimab, MGC026, and MGC028. The company is also engaged in strategic collaborations, notably with Incyte Corporation and Gilead Sciences, which have provided substantial funding and support for its product development efforts. As of March 31, 2025, MacroGenics had 63,090,323 shares of common stock outstanding, reflecting a slight increase from the previous quarter.
Looking ahead, MacroGenics anticipates that its cash, cash equivalents, and marketable securities, totaling $145.6 million as of March 31, 2025, will be sufficient to fund its operations into the second half of 2026. The company plans to continue investing in its clinical and preclinical programs while implementing cost-saving measures to extend its financial runway. However, it acknowledges the inherent uncertainties in the biotechnology sector, including potential challenges in securing additional funding and the impact of macroeconomic conditions on its operations and financial performance.
About MACROGENICS INC
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