Aug. 11 at 8:14 PM
$MGNX $3.92 ask. DAC (dollar average cost)
$3.265
https://stocktwits.com/G101SPM/message/585048344
CHANGE EXIT TO
$11.00 long term
BRIEF:
MacroGenics, Inc. (NASDAQ: MGNX), a clinical-stage biopharmaceutical company focused on developing innovative antibody-based therapeutics for the treatment of cancer, today announced that Gilead Sciences, Inc. has exercised its option to obtain an exclusive license for a preclinical bispecific program under the companies’ 2022 collaboration agreement. The option exercise triggers a
$10 million payment to MacroGenics.
The licensed program incorporates MacroGenics’ TRIDENT® platform and is directed against two undisclosed targets for the treatment of solid tumors. Under the 2022 collaboration agreement, MacroGenics and Gilead Sciences are advancing three programs: MGD024, a clinical-stage CD123 × CD3 bispecific DART® molecule, and two preclinical bispecific programs.
MacroGenics remains eligible to receive up to approximately
$1.6 billion in additional development, regulatory and commercial milestone payments across the collaboration, as well as royalties on worldwide net sales of products resulting from the programs.
note: MacroGenics (the Company) is a biopharmaceutical company focused on developing innovative monoclonal antibody-based therapeutics for the treatment of cancer. The Company generates its pipeline of novel product candidates from its suite of proprietary next-generation antibody-based technology platforms. The combination of MacroGenics’ technology platforms and protein engineering expertise has allowed the Company to generate promising product candidates and enter into several strategic collaborations with global pharmaceutical and biotechnology companies. For more information, please see the Company’s website at www.macrogenics.com. MacroGenics, the MacroGenics logo, TRIDENT and DART are trademarks or registered trademarks of MacroGenics, Inc.
