MacroGenics, Inc. has reported significant financial developments in its latest 10-K filing for the fiscal year ending December 31, 2024. The company generated total revenue of $150.0 million, a substantial increase of 156% compared to $58.7 million in 2023. This growth was primarily driven by a notable rise in revenue from collaborative agreements, which surged to $118.9 million from $29.4 million, largely due to milestone achievements under the Incyte License Agreement. However, product sales decreased to $16.4 million from $17.9 million, reflecting the sale of global rights to its product MARGENZA to TerSera Therapeutics in November 2024.
In terms of expenses, MacroGenics reported a total cost of $260.5 million, up from $227.0 million in the previous year. Research and development expenses increased to $177.2 million from $166.6 million, driven by higher costs associated with ongoing clinical trials and the development of new product candidates, including MGC028 and lorigerlimab. Selling, general, and administrative expenses also rose to $71.0 million, influenced by an amendment fee related to the MARGENZA sale and increased stock-based compensation.
The company’s operational metrics indicate a workforce of 341 full-time employees as of December 31, 2024, with a focus on enhancing its research and development capabilities. MacroGenics continues to advance its proprietary product candidates, including lorigerlimab, MGC026, and MGC028, while also engaging in strategic collaborations with companies like Gilead and Incyte. The company has received over $1.4 billion in non-dilutive funding since its inception, which has been instrumental in supporting its clinical programs and manufacturing operations.
Looking ahead, MacroGenics anticipates that its cash, cash equivalents, and marketable securities, totaling approximately $201.7 million as of December 31, 2024, will be sufficient to fund operations into the second half of 2026. The company is focused on continuing its clinical trials and product development efforts, although it acknowledges the inherent uncertainties and risks associated with drug development, including regulatory approvals and market competition. The outlook remains cautiously optimistic, contingent on the successful advancement of its product candidates and the ability to secure additional funding through collaborations and other financial arrangements.
About MACROGENICS INC
About 10-K Filings
A 10-K form is a comprehensive annual report that public companies in the United States must file with the SEC, providing a detailed overview of the company's financial condition, performance, and business strategies.
Key points about the 10-K:
- Frequency: Filed annually, typically within 60 to 90 days after the end of the company's fiscal year.
-
Content: It includes:
- Detailed financial statements audited by an independent accounting firm
- Management's Discussion and Analysis (MD&A) of financial condition and results
- Description of the company's business, properties, and legal proceedings
- Risk factors and market risks
- Executive compensation and corporate governance information
- Importance: Considered the most comprehensive and important document a public company files with the SEC.
- Length: Often exceeds 100 pages due to its extensive and detailed nature.
Our Methodology
AssetRoom is committed to providing timely summaries of news from public companies. We use AI to generate these summaries quickly, but they are not reviewed by human experts.
Our method:
- Data Collection: We continuously monitor for new filings (currently limited to US-listed stocks).
- AI-Powered Analysis: Our advanced AI system processes each filing, identifying key information and extracting relevant data.
- Summary Generation: The AI creates a concise, easy-to-understand summary of the filing, highlighting the most important points.
- Publication: The summary is immediately published on our platform, allowing users instant access to the latest information.
- Email users: We distribute round-up emails according to our users preferences, keeping them in the loop with the companies they follow.
Feedback & Corrections
Spot an error or have a suggestion? Contact us.