Revenue: As of FY2026 Q1, the actual value is USD 20.78 M, beating the estimate of USD 15.24 M.EPS: As of FY2026 Q1, the actual value is USD -0.58, missing the estimate of USD -0.548.EBIT: As of FY2026 Q1, the actual value is USD -30.1 M.MacroGenics, Inc. reported its financial results for the first quarter ended March 31, 2026, showing an increase in total revenue and an improved net loss compared to the same period in 2025.<h4>Financial Performance (Three Months Ended March 31)</h4><ul><li>Total Revenue: Total revenue increased to $20.8 million in 2026 from $13.2 million in 2025.<ul><li>Collaborative and other agreements: Revenue from collaborative and other agreements was $0.6 million in 2026, a decrease from $6.6 million in 2025.</li><li>Contract manufacturing: Contract manufacturing revenue increased to $14.1 million in 2026 from $6.2 million in 2025, driven by higher production volume for external clients.</li><li>Royalty revenue: Royalty revenue significantly increased to $6.2 million in 2026 from $0.4 million in 2025, due to higher sales of ZYNYZ.</li></ul></li><li>Cost of Manufacturing Services: This cost increased to $9.5 million in 2026 from $5.4 million in 2025, primarily due to increased production for external clients.</li><li>Research and Development (R&amp;D) Expenses: R&amp;D expenses decreased to $35.0 million in 2026 from $39.7 million in 2025, mainly due to the discontinuation of vobramitamab duocarmazine development, partially offset by increased costs for MGC028 and preclinical TCE programs.</li><li>General and Administrative (G&amp;A) Expenses: G&amp;A expenses were $9.7 million in 2026, down from $10.7 million in 2025.</li><li>Loss from Operations: The company reported a loss from operations of - $33.4 million in 2026, an improvement from - $42.6 million in 2025.</li><li>Interest and Other Income: Interest and other income was $1.6 million in 2026, compared to $1.7 million in 2025.</li><li>Interest and Other Expense: Interest and other expense increased to - $4.9 million in 2026 from - $0.1 million in 2025.</li><li>Net Loss: Net loss improved to - $36.8 million in 2026 from - $41.0 million in 2025.</li><li>Comprehensive Loss: Comprehensive loss was - $36.8 million in 2026, compared to - $41.0 million in 2025.</li><li>Basic and Diluted Weighted Average Common Shares Outstanding: Shares outstanding were 63,449,780 in 2026, compared to 62,965,415 in 2025.</li></ul><h4>Balance Sheet Data (Amounts in thousands)</h4><ul><li>Cash, cash equivalents and marketable securities: $154,229 as of March 31, 2026, compared to $189,913 as of December 31, 2025.</li><li>Total assets: $217,873 as of March 31, 2026, compared to $256,846 as of December 31, 2025.</li><li>Deferred revenue: $67,993 as of March 31, 2026, compared to $66,424 as of December 31, 2025.</li><li>Total stockholders’ equity: $21,198 as of March 31, 2026, compared to $55,591 as of December 31, 2025.</li><li>Shares Outstanding: Shares of common stock outstanding as of March 31, 2026, were 63,560,068.</li></ul><h4>Operational Metrics and Business Highlights</h4><ul><li>Manufacturing Operations Divestiture: MacroGenics, Inc. entered into a definitive agreement to sell its manufacturing operations to Bora Pharmaceuticals Co., Ltd., which is expected to provide an upfront payment of $122.5 million and close in the third quarter of this year.</li><li>ZYNYZ Royalty Monetization: The company received a $60.0 million cash payment from Sagard Healthcare Partners, with potential for an additional milestone of up to $20.0 million based on 2026 ZYNYZ sales performance.</li><li>Corporate Restructuring: Approximately 140 employees are expected to transfer to Bora, with MacroGenics, Inc. anticipating around 135 employees post-closing to achieve a more agile organization.</li><li>Pipeline Advancement: MacroGenics, Inc. anticipates reporting initial MGC026 clinical data in mid-2026 and initial MGC028 clinical data in the second half of 2026. An Investigational New Drug (IND) application for MGC030 is planned for the third quarter of 2026, and the company expects to nominate two additional product candidates by the end of 2026.</li><li>Lorigerlimab Update: The company will enroll an additional 20 CCGC patients at a lower dose of 3 mg/kg Q3W, with enrollment completion by year-end 2026 and updated study results in the first half of 2027; development in high-grade serous and platinum-resistant ovarian cancer will not be pursued.</li><li>Current Partnerships: MacroGenics, Inc. maintains partnerships with Incyte Corporation, Sanofi, and Gilead Sciences, remaining eligible to receive up to approximately $2.5 billion in aggregate future milestones, in addition to royalties on partnered products.</li></ul><h4>Outlook / Guidance</h4>MacroGenics, Inc. anticipates its cash, cash equivalents, and marketable securities balance as of March 31, 2026, combined with projected future payments from partners, including $60.0 million from Sagard and an anticipated $122.5 million from Bora (less fees), will support its cash runway through 2028. The manufacturing divestiture and expanded ZYNYZ royalty monetization are expected to provide up to $202.5 million in combined proceeds. The company also expects multiple data disclosures and program milestones for its ADC pipeline, including initial MGC026 and MGC028 clinical data in mid-2026 and the second half of 2026, respectively, and an IND application for MGC030 in the third quarter of 2026.

Macrogenics | 8-K: FY2026 Q1 Revenue Beats Estimate at USD 20.78 M