MacroGenics Provides Update on Corporate Progress and First Quarter 2025 Financial Results

Core Viewpoint - MacroGenics, Inc. is advancing its clinical pipeline, particularly with the initiation of the Phase 2 LINNET study for lorigerlimab, targeting unmet needs in ovarian and gynecologic cancers, while also reporting financial results for Q1 2025 [1][2]. Clinical Development Updates - The first patient has been dosed in the LINNET Phase 2 study of lorigerlimab for platinum-resistant ovarian cancer and clear cell gynecologic cancer, with a focus on addressing significant unmet needs [2][7]. - The LORIKEET Phase 2 trial, involving 150 patients, is ongoing to evaluate lorigerlimab in combination with docetaxel for metastatic castration-resistant prostate cancer (mCRPC), with results expected in the second half of 2025 [6][7]. - MacroGenics is developing three antibody-drug conjugates (ADCs) in collaboration with Synaffix, including MGC026, MGC028, and MGC030, targeting various solid tumors [4][6]. Financial Performance - Total revenue for Q1 2025 was $13.2 million, an increase from $9.1 million in Q1 2024, primarily due to collaborative agreements and contract manufacturing [8][13]. - Research and development expenses decreased to $39.7 million in Q1 2025 from $46.0 million in Q1 2024, while selling, general and administrative expenses also fell to $10.7 million from $14.7 million [8][13]. - The net loss for Q1 2025 was $41.0 million, compared to a net loss of $52.2 million in Q1 2024, indicating improved financial performance [8][13]. Cash Position and Guidance - As of March 31, 2025, MacroGenics had cash, cash equivalents, and marketable securities totaling $154.1 million, down from $201.7 million at the end of 2024, which supports operations into the second half of 2026 [8][11]. - The company plans to implement cost-saving measures to extend its financial runway while continuing to progress its clinical pipeline [8][11].