MacroGenics Announces Achievement of $100 Million in Milestones Related to Retifanlimab Collaboration with Incyte

Core Insights - MacroGenics, Inc. achieved $100 million in milestones from Incyte Corporation related to the development of ZYNYZ® (retifanlimabdlwr) [1] - ZYNYZ is an intravenous PD-1 inhibitor approved in the U.S. for treating adult patients with metastatic or recurrent locally advanced Merkel cell carcinoma [1] - The collaboration with Incyte began in 2017, and MacroGenics has received a total of $215 million in milestones to date, with potential future milestones totaling $210 million for development and regulatory achievements, and $330 million for commercial milestones [8] Financial Position - MacroGenics expects to report its cash, cash equivalents, and marketable securities balance as of June 30, 2024, around August 6, 2024 [4] - The company anticipates that its cash balance, combined with the recent $100 million milestone and future payments from partners, will support its cash runway into 2026 [4] Strategic Collaborations - MacroGenics generates its pipeline from proprietary next-generation antibody-based technology platforms, leading to strategic collaborations with global pharmaceutical and biotechnology companies [2] - The company has tiered royalties ranging from 15% to 24% on worldwide net sales of ZYNYZ, indicating a revenue-sharing model with Incyte [8]