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Macrogenics (MGNX) Tops Q3 EPS by 27c, Revenues Beat

November 4, 2020 5:50 PM

Macrogenics (NASDAQ: MGNX) reported Q3 EPS of ($0.66), $0.27 better than the analyst estimate of ($0.93). Revenue for the quarter came in at $18.25 million versus the consensus estimate of $15.79 million.

“MacroGenics continued the advancement of its portfolio of multiple clinical molecules during the third quarter of 2020, with three investigational programs currently in pivotal studies: margetuximab, flotetuzumab and retifanlimab. The PDUFA action date for margetuximab in breast cancer is December 18. Just prior, we look forward to our next presentation of flotetuzumab clinical data at ASH in December, following the publication of data in three separate journals this year highlighting the medical and scientific interest in this DART® molecule,” said Scott Koenig, M.D., Ph.D., President and CEO of MacroGenics. "At ESMO in September, we and our partner, Incyte, presented clinical data on MGD019 and retifanlimab, respectively. And on the heels of MGC018 data presented at ASCO, we recently commenced the enrollment of patients with mCRPC, TNBC and NSCLC. More near-term, we look forward to providing an update on tebotelimab plus margetuximab in HER2-positive patients at the upcoming SITC Annual Meeting this month. Finally, we look forward to updating you on continued progress through the rest of 2020 and into 2021.”

For earnings history and earnings-related data on Macrogenics (MGNX) click here.

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