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MacroGenics (MGNX)
NASDAQ:MGNX
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Earnings Data
Report Date
Mar 04, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
-$0.37Last Year’s EPS
-$0.74Same Quarter Last Year
Based on 8 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Nov 05, 2024
|% Change Since: -15.65%
|Next Earnings Date:Mar 04, 2025
Earnings Call Sentiment|Positive
The earnings call reflects strong financial performance with significant revenue growth and a secured cash runway. However, increased expenses and pauses in pipeline development present challenges. Overall, the highlights outweigh the lowlights, indicating a positive outlook.Company Guidance
In the third-quarter earnings call for 2024, MacroGenics provided financial guidance indicating a strong financial position, driven by significant revenue growth to $110.7 million, a substantial increase from $10.4 million in the same quarter of 2023, largely due to a $100 million milestone payment from Incyte. Research and development expenses rose to $40.5 million, influenced by increased costs for the ADC pipeline and the TAMARACK trial. Selling, general, and administrative expenses also increased to $14.1 million, with net income reaching $56.3 million, bolstered by the Incyte milestone. The company reported a cash balance of $200.4 million as of September 30, 2024, with an anticipated $40 million payment from the MARGENZA transaction expected to extend their cash runway into 2026. The company is focused on advancing its clinical-stage assets and preclinical studies, with ongoing assessments on the development of vobra duo and other B7-H3 targeting molecules.Significant Revenue Growth
MacroGenics reported a total revenue of $110.7 million for the quarter ended September 30, 2024, compared to $10.4 million for the same period in 2023, primarily due to $100 million in milestones from Incyte.
Strong Net Income Performance
Net income for the quarter was $56.3 million, a significant increase from $17.6 million in the same quarter the previous year. This includes the $100 million milestone from Incyte.
Cash Runway Secured
The company's cash, cash equivalents, and marketable securities balance stands at $200.4 million, with anticipated additional payments providing a cash runway into 2026.
MARGENZA Transaction
MacroGenics sold global rights to margetuximab (MARGENZA) to TerSera Therapeutics for $40 million upfront, with potential additional sales milestone payments of up to $35 million.
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MGNX Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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MGNX Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 05, 2024 | $3.77 | $4.19 | +11.14% |
| Aug 06, 2024 | $3.64 | $3.38 | -7.14% |
| May 09, 2024 | $14.67 | $3.31 | -77.44% |
| Mar 07, 2024 | $20.51 | $17.43 | -15.02% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does MacroGenics (MGNX) report earnings?
MacroGenics (MGNX) is schdueled to report earning on Mar 04, 2025, TBA Not Confirmed.
What is MacroGenics (MGNX) earnings time?
MacroGenics (MGNX) earnings time is at Mar 04, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is MGNX EPS forecast?
MGNX EPS forecast for the fiscal quarter 2024 (Q4) is -$0.37.
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