MacroGenics Q1 revenue rises, beats estimates on client production and cancer drug royalties

MacroGenics

13/05/2026 21:13

Overview

US biopharmaceutical company's Q1 revenue rose yr/yr, beating analyst expectations

Company announced manufacturing operations divestiture and expanded ZYNYZ royalty monetization, expected to provide up to $202.5 mln

Net loss for Q1 narrowed compared to prior year

Outlook

MacroGenics extends cash runway guidance through 2028, pending manufacturing divestiture closing

Company expects initial MGC026 clinical data in mid-2026 and MGC028 data in H2 2026

MacroGenics plans to complete lorigerlimab study enrollment by year-end 2026, report results in H1 2027

Result Drivers

HIGHER CONTRACT MANUFACTURING AND ROYALTY REVENUE - Revenue growth was driven by increased production for external clients and higher ZYNYZ royalty revenue

LOWER R&D EXPENSES - Decrease in R&D costs mainly due to discontinuation of vobramitamab duocarmazine development

Company press release: ID:nGNX2vxKb5

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
Beat
$20.80 mln
$15.05 mln (4 Analysts)
Q1 Net Income
-$36.80 mln


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 3 "strong buy" or "buy", 4 "hold" and no "sell" or "strong sell"

The average consensus recommendation for the biotechnology & medical research peer group is "buy"

Wall Street's median 12-month price target for MacroGenics Inc is $5.50, about 56.3% above its May 12 closing price of $3.52

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)