MacroGenics, Inc

MacroGenics is a U.S. biopharmaceutical company focused on developing antibody-based cancer therapeutics. Its pipeline is built around proprietary platforms such as DART and TRIDENT, and it also earns revenue from collaborations, contract manufacturing, and royalties tied to partnered products.

−43,9 %

100,0 %

−49,9 %

−0,3 %

5.10

4.92

— MacroGenics, Inc
%
Proprietary oncology pipeline0% Internal antibody-based cancer programs, including DART, TRIDENT and ADC candidates.
Collaborative and other agreements58% Upfront fees, milestones, research funding and option/license payments from partners.
Contract manufacturing35% Drug substance manufacturing and related development services for third parties and partners.
Royalty revenue7% Sales-based royalties from partnered products such as ZYNYZ.

MacroGenics sells primarily to biopharma partners rather than end patients, with revenue driven by collaboration...

  • Strategic pharma collaboratorsprimary

    Partners such as Gilead and Incyte fund development, exercise options, and share economics on antibody programs.

  • Manufacturing services clientsprimary

    Third parties that buy drug substance development and manufacturing capacity for clinical or commercial supply.

  • Commercial licensees and royalty payorssecondary

    Partners that market approved products and remit royalties on sales, such as ZYNYZ-related economics.

  • Future oncology patientsemerging

    Patients with cancer are the ultimate end users of approved product candidates, though MacroGenics usually commercializes through partners.

MacroGenics is headquartered and manufactures in the United States, with key operations centered in Rockville, Maryland...

  • •Headquartered in the United States
  • •Manufacturing and commercial site in Rockville, Maryland
  • •Uses third-party suppliers and CMOs in several countries
  • •International commercialization expected through partners
  • •Trade policy and tariff changes can affect supply chain costs

MacroGenics is prioritizing advancement of its oncology pipeline while using partnerships to fund development and...

01
Advance partnered and internal oncology programsmedium-term

Clinical progress is the main driver of future value and partner economics.

02
Expand contract manufacturing utilizationshort-term

Higher production volume can diversify revenue away from milestone timing.

03
Preserve liquidity and extend runwayshort-term

The company remains dependent on external capital and partner payments.

MacroGenics faces the classic biotech risk profile: heavy dependence on clinical success, partner execution, and access...

high

Financing risk

The company has ongoing losses and expects to rely on external capital and partner payments.

Scope
Could force delays, downsizing, or program cuts if capital is unavailable.
Materiality
high
high

Clinical development risk

Pipeline value depends on successful preclinical and clinical outcomes and regulatory approval.

Scope
Failure of MGD024 or other programs would reduce future collaboration and royalty potential.
Materiality
high
medium

Partner concentration and milestone timing

A meaningful share of revenue comes from a small number of collaboration agreements.

Scope
Revenue can drop when milestones are not achieved or agreements end.
Materiality
high
medium

Trade and supply-chain disruption

The company uses third-party suppliers in several countries and faces tariff/sanction risk.

Scope
Could raise input costs or interrupt manufacturing and clinical supply.
Materiality
medium
medium

Competitive pressure in oncology

Large pharma and biotech peers are developing similar antibody and T-cell engager therapies.

Scope
Better efficacy, safety, or speed to market by rivals could limit adoption.
Materiality
high
Collaboration and milestone revenue recognition
Affects reported revenue mix and comparability across periods
Contract manufacturing revenue and cost of services
Impacts gross margin and operating leverage
Liability related to sale of future royalties
Can materially affect interest expense and balance sheet carrying value
Royalty revenue timing
Can create uneven quarterly revenue recognition

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: 28.4.2026