MacroGenics Reports 106% Revenue Growth to $22.2 Million, Net Loss Improves

MacroGenics, Inc. reported significant financial developments in its latest 10-Q filing for the quarter ending June 30, 2025. The company generated total revenues of $22.2 million for the quarter, a 106% increase from $10.8 million in the same period last year. This growth was primarily driven by a substantial rise in contract manufacturing revenue, which increased to $15.4 million from $2.9 million year-over-year, and collaborative agreements revenue, which rose to $6.9 million from $2.2 million. However, the company reported no product sales during the quarter, a decline attributed to the sale of its rights to MARGENZA to TerSera Therapeutics in November 2024.

In terms of profitability, MacroGenics recorded a net loss of $36.3 million for the quarter, an improvement from a net loss of $55.7 million in the same quarter of 2024. The reduction in losses was supported by a decrease in total costs and expenses, which fell to $59.0 million from $69.0 million year-over-year. The company’s research and development expenses also decreased significantly, totaling $40.8 million compared to $51.7 million in the prior year, reflecting a strategic shift in focus and resource allocation.

Operationally, MacroGenics has made strides in its product development pipeline, advancing three proprietary candidates: lorigerlimab, MGC026, and MGC028. The company is also actively engaged in collaborations with major biopharmaceutical firms, including Incyte and Gilead Sciences, which have provided substantial funding and support for its clinical programs. Notably, in June 2025, MacroGenics entered into a Royalty Purchase Agreement with Sagard Healthcare Partners, receiving $70 million in exchange for future royalties on ZYNYZ, further bolstering its financial position.

As of June 30, 2025, MacroGenics reported total assets of $245.4 million, down from $261.7 million at the end of 2024, with cash and cash equivalents at $130.7 million. The company’s liabilities increased to $198.8 million, primarily due to the new liability related to future royalties. The total stockholders' equity decreased to $46.6 million from $116.1 million, reflecting the ongoing net losses and the impact of the royalty monetization arrangement.

Looking ahead, MacroGenics anticipates that its current cash, cash equivalents, and marketable securities, combined with projected revenues from collaborations, will support its operations through at least the first half of 2027. The company remains focused on advancing its clinical programs while managing costs effectively to navigate the challenges posed by the current macroeconomic environment.