Core Viewpoint - Bragar Eagel & Squire, P.C. is investigating potential claims against Macrogenics, Inc. due to a class action complaint alleging breaches of fiduciary duties by the board of directors following significant stock price decline related to safety data misrepresentations of a drug [1][2]. Group 1: Legal Investigation - A class action complaint was filed against Macrogenics on July 26, 2024, with a class period from March 7, 2024, to May 9, 2024 [1]. - The investigation focuses on whether the board of directors of Macrogenics breached their fiduciary duties to the company [1]. Group 2: Stock Performance and Impact - During the class period, Macrogenics made material misrepresentations regarding the safety data from its TAMARACK Phase 2 study of vobramitamab duocarmazine [2]. - Following the revelation that the drug was significantly more dangerous than previously stated, Macrogenics' stock declined by 77.4%, equating to a drop of $11.36 per share [2].

Core Insights - MacroGenics, Inc. is a biopharmaceutical company focused on developing monoclonal antibody-based therapeutics for cancer treatment [3] - The company will participate in two upcoming investor conferences in November 2024, including the Guggenheim Securities Healthcare Innovation Conference and the Stifel 2024 Healthcare Conference [1] Conference Participation - At the Guggenheim Securities Healthcare Innovation Conference in Boston, the Chief Operating Officer, Eric Risser, will engage in a fireside chat on November 12, 2024, at 4:00 PM ET [1] - The President & CEO, Scott Koenig, M.D., Ph.D., will participate in a fireside chat at the Stifel 2024 Healthcare Conference in New York on November 18, 2024, at 1:15 PM ET [1] - Management will also hold one-on-one meetings at both conferences [1] Company Overview - MacroGenics generates its product pipeline from proprietary next-generation antibody-based technology platforms applicable across various therapeutic domains [3] - The company has established strategic collaborations with global pharmaceutical and biotechnology firms, leveraging its technology and protein engineering expertise [3]

Group 1 - MacroGenics reported $110.71 million in revenue for Q3 2024, a year-over-year increase of 964.5% [1] - The EPS for the same period was $0.90, compared to -$0.52 a year ago, representing a significant turnaround [1] - The reported revenue exceeded the Zacks Consensus Estimate of $97.04 million by 14.09% [1] Group 2 - Product sales, net, were $4.16 million, below the four-analyst average estimate of $6.05 million, reflecting an 11.4% decrease year-over-year [3] - Revenue from collaborative and other agreements was $101.41 million, significantly surpassing the estimated $72.94 million, marking a year-over-year increase of 11358.5% [3] - Revenue from government agreements was $0.57 million, slightly above the estimated $0.45 million, with a year-over-year increase of 64.1% [3] Group 3 - MacroGenics shares have returned +3.1% over the past month, outperforming the Zacks S&P 500 composite, which declined by -0.5% [4] - The stock currently holds a Zacks Rank 3 (Hold), indicating potential performance in line with the broader market [4]

Company Performance - MacroGenics reported quarterly earnings of $0.90 per share, significantly exceeding the Zacks Consensus Estimate of $0.17 per share, compared to a loss of $0.52 per share a year ago, representing an earnings surprise of 429.41% [1] - The company posted revenues of $110.71 million for the quarter ended September 2024, surpassing the Zacks Consensus Estimate by 14.09%, compared to revenues of $10.4 million in the same quarter last year [2] - Over the last four quarters, MacroGenics has surpassed consensus EPS estimates only once and has topped consensus revenue estimates just once [2] Stock Performance - MacroGenics shares have declined approximately 61.5% since the beginning of the year, while the S&P 500 has gained 19.8% [3] - The current consensus EPS estimate for the upcoming quarter is -$0.21 on revenues of $49.6 million, and for the current fiscal year, it is -$2.06 on revenues of $155.98 million [7] Industry Outlook - The Medical - Products industry, to which MacroGenics belongs, is currently ranked in the top 33% of over 250 Zacks industries, indicating a favorable outlook compared to the bottom 50% [8] - Empirical research suggests a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can impact MacroGenics' stock performance [5]

Strengthened financial position resulting from recently announced MARGENZA® transaction and previously announced receipt of milestone payment from Incyte related to advancement of ZYNYZ®ADAM9-directed ADC (MGC028) Investigational New Drug (IND) application submitted to FDA Conference call scheduled for today at 4:30 p.m. ET  ROCKVILLE, Md., Nov. 05, 2024 (GLOBE NEWSWIRE) -- MacroGenics, Inc. (NASDAQ: MGNX), a biopharmaceutical company focused on discovering, developing, manufacturing and commercializing inn ...

Scott Koenig, M.D., Ph.D., to step down as President and CEO Board to initiate search process to identify new CEO ROCKVILLE, MD, Oct. 30, 2024 (GLOBE NEWSWIRE) -- MacroGenics, Inc. (NASDAQ: MGNX), a biopharmaceutical company focused on discovering, developing, manufacturing and commercializing innovative antibody-based therapeutics for the treatment of cancer, today announced that Scott Koenig, M.D., Ph.D., intends to step down as President and Chief Executive Officer early next year. The Company's Board of ...

ROCKVILLE, MD, Oct. 29, 2024 (GLOBE NEWSWIRE) --  MacroGenics, Inc. (Nasdaq: MGNX), a biopharmaceutical company focused on developing, manufacturing and commercializing innovative antibody-based therapeutics for the treatment of cancer, today announced that the Company will release its financial results for the third quarter of 2024 after the market closes on Tuesday, November 5, 2024. MacroGenics will host a conference call to discuss the financial results and recent corporate progress on Tuesday, November ...

NEW YORK, Sept. 24, 2024 (GLOBE NEWSWIRE) -- The Gross Law Firm issues the following notice to shareholders of MacroGenics, Inc. (NASDAQ: MGNX). Shareholders who purchased shares of MGNX during the class period listed are encouraged to contact the firm regarding possible lead plaintiff appointment. Appointment as lead plaintiff is not required to partake in any recovery. CONTACT US HERE: https://securitiesclasslaw.com/securities/macrogenics-inc-loss-submission-form-2/?id=104509&from=3 CLASS PERIOD: March 7, ...

SAN FRANCISCO, Sept. 24, 2024 (GLOBE NEWSWIRE) -- Hagens Berman urges MacroGenics, Inc. (NASDAQ: MGNX) investors who suffered substantial losses to submit your losses now. Class Period: Mar. 7, 2024 – May 9, 2024 Lead Plaintiff Deadline: Sept. 24, 2024 Visit: www.hbsslaw.com/investor-fraud/mgnx Contact the Firm Now: MGNX@hbsslaw.com 844-916-0895 Class Action Lawsuit Against MacroGenics, Inc. (MGNX): On July 30, 2024, shares in beleaguered pharmaceutical company MacroGenics crashed after the company provided ...

NEW YORK, Sept. 23, 2024 (GLOBE NEWSWIRE) -- WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of stock or sellers of puts of MacroGenics, Inc. (NASDAQ: MGNX) between March 7, 2024 and May 9, 2024, both dates inclusive (the "Class Period"), of the important September 24, 2024 lead plaintiff deadline. SO WHAT: If you purchased stock or sold puts of MacroGenics during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a cont ...