MacroGenics Q2 Revenue Misses by 51%, But Asset Sale Drives Profit
MGNX has more than doubled off its 52-week low of $1.29.
Summary
MacroGenics reported Q2 revenue of $32.8M, missing consensus of $67.5M by over half, but posted net income of $19.5M thanks to $89.2M from the sale of its manufacturing operations to Bora. The revenue miss is largely due to the timing of milestone payments—the $24.5M Sanofi milestone for TZIELD was recognized, but analysts had modeled higher collaboration revenue. Cash runway extends through 2028, and the company guided to preliminary MGC028 data in late 2026 and updated lorigerlimab results in H1 2027. The stock trades at $3.97, well below the $7 median price target, but the earnings miss may pressure near-term sentiment despite the profit.
At the time of this announcement, MGNX was trading at $3.97 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $259.3M. The 52-week trading range was $1.29 to $5.08. This news item was assessed with neutral market sentiment and an importance score of 7 out of 10. Source: Reuters.