MacroGenics Q2 revenue misses estimates, posts profit on asset sale

MacroGenics

13/08/2026 21:13

Overview
U.S. biopharmaceutical firm's Q2 revenue missed analyst expectations
Net income for Q2 reversed prior yr loss, driven by income from discontinued operations
Company completed sale of manufacturing operations for $122.5 mln, shifting to outsourced model

Outlook
MacroGenics expects its cash runway to extend through 2028
Company plans to provide preliminary clinical results for MGC028 in late 2026
Updated lorigerlimab study results expected in first half of 2027

Result Drivers
MILESTONE PAYMENTS - Q2 revenue increase was primarily due to a $24.5 mln regulatory milestone from Sanofi related to U.S. approval of TZIELD
MANUFACTURING SALE - Net income for Q2 reflects $89.2 mln income from discontinued operations related to the sale of manufacturing operations to Bora
LOWER OPERATING COSTS - R&D and G&A expenses declined due to lower costs for lorigerlimab, discontinued programs, and personnel

Company press release: ID:nGNX2tzCFW

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Revenue
Miss
$32.80 mln
$67.46 mln (4 Analysts)
Q2 Net Income
 
$19.50 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 $7.00, about 74.1% above its August 12 closing price of $4.02

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(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.)