DivestmentAug 13, 2026, 04:07 PM
MacroGenics Sells Manufacturing for $122.5M; Q2 Net Income $19.5M
AI Summary
MacroGenics announced the sale of its manufacturing operations for $122.5 million, transitioning to a fully outsourced model and reducing its workforce to approximately 140 employees. This strategic move, combined with recent milestone payments, has strengthened the company's financial position, resulting in pro forma cash, cash equivalents, and marketable securities of $327 million and extending its cash runway through 2028. For Q2 2026, the company reported a net income of $19.5 million and total revenue of $32.8 million, driven by a Sanofi regulatory milestone. MacroGenics also highlighted pipeline progress, including MGC026 advancing to Stage 2 in SCCHN and MGC030's IND clearance.
Key Highlights
- Sold manufacturing operations for $122.5 million, receiving $119.6 million cash at closing.
- Transitioned to a fully outsourced model, reducing workforce to approximately 140 employees.
- Reported pro forma cash, cash equivalents, and marketable securities of $327 million as of June 30, 2026.
- Extended cash runway guidance through 2028.
- Achieved Q2 2026 Net Income of $19.5 million, compared to a $36.3 million net loss in Q2 2025.
- Generated Q2 2026 Total Revenue of $32.8 million, significantly up from $6.9 million in Q2 2025.
- Gilead exercised option for a preclinical bispecific program, triggering a $10.0 million payment.
- MGC026 (B7-H3 ADC) SCCHN cohort met pre-specified response threshold to advance into Stage 2.
Price Impact
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