MACROGENICS INC

MacroGenics, Inc. announced that Dr. Karen Ferrante provided notice of her decision to resign from the company's Board of Directors, effective September 1, 2026. Dr. Ferrante's departure is due to personal reasons and is not a result of any disagreement with the company or its practices. The company expressed gratitude for her contributions.

MacroGenics, Inc. announced the completion of the previously disclosed sale of its GMP manufacturing operations, including its CDMO business, to Bora Pharmaceuticals Co., Ltd. The transaction, effective June 30, 2026, generated $122.5 million in gross proceeds for MacroGenics. As part of the deal, approximately 140 employees transferred to Bora, and MacroGenics entered into a supply agreement with Bora for its internal pipeline needs, streamlining its focus on biopharmaceutical development.

MacroGenics, Inc. announced that its President and CEO, Eric Risser, will participate in a fireside chat at the Stifel 2026 Virtual Targeted Oncology Forum. The event is scheduled for Wednesday, May 20, 2026, at 10:30 a.m. ET. A webcast of the presentation will be accessible via the company's investor relations website, with an archived replay available for 30 days.

Macrogenics reported a reduced net loss of $(36.8) million for the first quarter of 2026, an improvement from $(41.0) million in the prior year. Total revenues increased by 57% to $20.8 million, driven by strong growth in contract manufacturing and royalty revenue, despite a decrease in collaborative agreements. The company also saw a decrease in research and development expenses and an increase in cash and cash equivalents, indicating improved operational cash flow.

MacroGenics reported Q1 2026 financial results and announced strategic steps to sharpen its focus on novel drug discovery. The company is divesting its GMP manufacturing operations to Bora Pharmaceuticals for an upfront payment of $122.5 million and expanded the monetization of ZYNYZ royalties with Sagard Healthcare Partners for $60.0 million cash, with a potential additional $20.0 million. These actions are expected to provide up to $202.5 million in combined proceeds and extend the cash runway through 2028.

MacroGenics, Inc. announced a definitive agreement to sell its good manufacturing practice (GMP) drug substance manufacturing operations to Bora Pharmaceuticals Co., Ltd. for an upfront payment of $122.5 million. This strategic move aims to provide non-dilutive capital to accelerate MacroGenics' pipeline development and allow the company to focus on its core innovative therapeutics. The deal includes the transfer of the Maryland manufacturing site, CDMO operations, and approximately 140 employees to Bora, while MacroGenics secures a supply arrangement for its future needs.

MacroGenics, Inc. announced an amendment to its royalty purchase agreement with Sagard Healthcare Partners for ZYNYZ (retifanlimab-dlwr). Under the revised terms, MacroGenics received an additional $60.0 million cash payment, bringing the total aggregate purchase price to $130.0 million. The company is also eligible for a potential one-time milestone payment of up to $20.0 million based on ZYNYZ's 2026 net sales. The agreement revises the capped royalty interest, with all royalty rights reverting to MacroGenics once Sagard receives 1.70x of the aggregate purchase price by September 30, 2032, or 2.0x at any time thereafter.

MacroGenics, Inc. announced an expanded royalty purchase agreement with Sagard for a capped royalty interest on future global net sales of ZYNYZ® (retifanlimab-dlwr). Under the amended terms, MacroGenics received a $60 million upfront payment and is eligible for an additional 2026 sales-based milestone of up to $20 million. Royalty rights will revert to MacroGenics once Sagard has received total payments of either 1.7x its investment by September 30, 2032, or 2.0x its investment at any time thereafter, while MacroGenics retains other economic interests.

MacroGenics, Inc. announced that the U.S. Food and Drug Administration (FDA) has removed the partial clinical hold on its Phase 2 LINNET study of lorigerlimab. This regulatory decision enables the company to resume enrollment of new participants in the study, which investigates the bispecific DART® molecule targeting PD-1 and CTLA-4 in patients with gynecologic cancers. While previously enrolled participants continued to receive the study drug during the hold, new participants will now be enrolled under a revised protocol incorporating additional risk-mitigation measures. This development is a significant positive step for MacroGenics, allowing the advancement of a key pipeline asset and keeping the company on track for a mid-2026 program update.