MacroGenics, Inc. reported its financial results for the third quarter ended September 30, 2024, on November 5, 2024. The company announced a third-quarter profit of $56.3 million.
Revenue for the third quarter reached US$110.7 million, marking a substantial increase of US$100.3 million compared to the prior year period. This revenue surge was driven by strategic financial activities.
The company highlighted that the pending MARGENZA transaction and a recently received milestone payment from Incyte contributed to solidifying its financial position. These inflows enable MacroGenics to remain focused on advancing its pipeline of innovative product candidates.
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