MACROGENICS INC MGNX
Except as otherwise indicated herein or as the context otherwise requires, references in this annual report on Form 10-K to "MacroGenics," the "company," "we," "us" and "our" refer to MacroGenics, Inc. and its consolidated subsidiaries. "MacroGenics®, the MacroGenics logo, DART®, TRIDENT® and the phrases Breakthrough Biologics, Life-Changing Medicines® and Developing Breakthrough Biologics, Life-Changing Medicines® are our trademarks. The other trademarks, trade names and service marks appearing in this report are the property of their respective owners.
We are a clinical-stage biopharmaceutical company focused on developing innovative antibody-based therapeutics for the treatment of cancer. We generate our pipeline of product candidates from our proprietary suite of antibody technology platforms. We are currently developing therapeutics utilizing multiple modalities, including antibody-drug conjugates (ADCs) and multi-specific antibodies (which we refer to as DART and TRIDENT molecules). The combination of our technology platforms and antibody engineering expertise has allowed us to generate promising product candidates – three of which have received marketing approval by the U.S. Food and Drug Administration (FDA) – and to enter into several strategic collaborations with global biopharmaceutical companies. These collaborations have provided us with over $1.6 billion of non-dilutive funding since our inception in 2000, and have enabled us to leverage the additional expertise of our collaborators to advance the development of multiple partnered product candidates. In addition, we operate a commercial-scale cGMP antibody manufacturing facility in our Maryland headquarters. We have utilized the facility to support our clinical programs and we also provide outsourced contract development and manufacturing services to our collaborators and other third parties for commercial and clinical products to offset a significant portion of the operating costs of this facility.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $149.5M | $150.0M | $58.7M | $151.9M | $77.4M | $104.9M | $64.2M | $60.1M | $157.7M | $91.9M |
| Cost of revenue | $0 | $847.0K | $619.0K | $3.4M | $2.7M | $0 | $0 | — | — | — |
| Gross profit | $149.5M | $149.1M | $58.1M | $148.6M | $74.8M | $104.9M | $64.2M | — | — | — |
| R&D | $147.2M | $177.2M | $166.6M | $207.0M | $214.6M | $193.2M | $195.3M | $190.8M | $147.2M | $122.1M |
| SG&A | $39.2M | $71.0M | $52.2M | $58.9M | $63.0M | $42.7M | $46.1M | $40.5M | $32.7M | $29.8M |
| Total operating expenses | $222.3M | $260.5M | $227.0M | $273.4M | $280.2M | $235.9M | $241.4M | $231.3M | $179.9M | $151.9M |
| Operating income | -$72.8M | -$110.6M | -$168.2M | -$121.4M | -$202.8M | -$131.1M | -$177.2M | -$171.2M | -$22.1M | -$60.0M |
| Interest expense | $8.5M | $1.1M | $1.4M | $0 | $0 | — | — | — | — | — |
| Pre-tax income | -$75.3M | -$66.0M | -$9.1M | -$119.8M | -$202.1M | -$129.7M | -$151.8M | -$171.5M | -$19.6M | -$58.5M |
| Income tax | $672.0K | $944.0K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Net income | -$74.6K | -$67.0K | -$9.1K | -$119.8M | -$202.1M | -$129.7M | -$151.8M | -$171.5M | -$19.6M | -$58.5M |
| EPS, basic | -1.18 | -1.07 | -0.15 | -1.95 | -3.37 | -2.47 | — | — | — | — |
| EPS, diluted | -1.18 | -1.07 | -0.15 | -1.95 | -3.37 | -2.47 | — | — | -0.54 | -1.69 |
| Shares, diluted (wtd. avg.) | 63.2M | 62.6M | 61.9M | 61.4M | 59.9M | 52.4M | 48.1M | — | 36.1M | 34.7M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $57.2M | $182.8M | $101.0M | $108.9M | $123.5M | $181.1M | $126.5M | $220.1M | $211.7M | $84.1M |
| Receivables | $13.4M | $4.3M | $10.4M | $56.2M | $10.4M | $23.1M | $12.7M | $29.6M | $13.6M | $2.8M |
| Inventory | $7.9M | $0 | $1.2M | $1.5M | $4.4M | $0 | — | — | — | — |
| Total current assets | $219.9M | $217.5M | $251.3M | $222.2M | $279.6M | $312.6M | $239.8M | $269.1M | $322.3M | $283.9M |
| Property, plant and equipment | $12.6M | $18.1M | $21.8M | $29.6M | $37.7M | $42.2M | $48.2M | $56.7M | $50.0M | $18.0M |
| Total assets | $256.8M | $261.7M | $298.4M | $280.5M | $335.2M | $378.7M | $312.5M | $332.1M | $373.9M | $311.3M |
| Accounts payable | $4.8M | $5.0M | $6.4M | $4.9M | $15.5M | $8.0M | $4.3M | $4.0M | $2.5M | $4.0M |
| Total current liabilities | $43.1M | $55.5M | $56.1M | $48.6M | $74.6M | $50.7M | $45.2M | $59.9M | $49.8M | $27.3M |
| Total liabilities | $201.3M | $145.6M | $145.8M | $138.5M | $95.6M | $82.9M | $81.9M | $89.3M | $74.6M | $42.5M |
| Retained earnings | -$1.24B | -$1.17B | -$1.10B | -$1.09B | -$973.9M | -$771.8M | -$642.1M | -$490.3M | -$312.3M | -$292.7M |
| Total equity | $55.6M | $116.1M | $152.6M | $142.0M | $239.6M | $295.9M | $230.6M | $242.9M | $299.2M | $268.8M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$81.0M | -$68.4M | -$78.2M | -$87.0M | -$143.8M | -$111.9M | -$134.3M | -$153.2M | $14.4M | -$43.7M |
| Depreciation and amortisation | $7.2M | $7.5M | $9.6M | $11.9M | $11.3M | $12.0M | $12.3M | $9.2M | $7.2M | $7.6M |
| Stock-based compensation | $14.3M | $29.4M | $18.4M | $20.4M | $23.1M | $20.7M | $19.6M | $16.5M | $14.7M | $12.2M |
| Capital expenditure | $1.9M | $3.7M | $1.8M | $3.6M | $6.2M | $5.9M | $4.3M | $25.0M | $29.4M | $11.4M |
| Investing cash flow | -$114.1M | $149.3M | -$80.1M | $70.7M | -$36.6M | -$7.8M | -$79.4M | $56.6M | $77.9M | -$70.2M |
| Financing cash flow | $69.5M | $960.0K | $150.4M | $1.7M | $122.8M | $174.3M | $120.0M | $105.0M | $35.3M | $1.9M |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001125345-26-000021.
Plot the figures US dollars
- Revenue
- Gross profit
- Net income
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $91.9M | $157.7M | $60.1M | $64.2M | $104.9M | $77.4M | $151.9M | $58.7M | $150.0M | $149.5M |
| Gross profit | — | — | — | $64.2M | $104.9M | $74.8M | $148.6M | $58.1M | $149.1M | $149.5M |
| Net income | -$58.5M | -$19.6M | -$171.5M | -$151.8M | -$129.7M | -$202.1M | -$119.8M | -$9.1K | -$67.0K | -$74.6K |
Recent filings and events
- Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
- Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
- Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
- Acquisition or disposal completed A purchase or sale of a significant business or asset has closed. Item 2.01
- Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
- Shareholder vote The results of the annual meeting or a special vote. Item 5.07
- Results announced Item 2.02
- Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
- Regulation FD disclosure Item 7.01
- Material agreement signed Item 1.01
- Other event Item 8.01
- Other event Item 8.01
Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.
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