MacroGenics Provides Update on Corporate Progress and Second Quarter 2020 Financial Results

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Go back to MacroGenics Provides Update on Corporate Progress and Second Quarter 2020 Financial Results

Macrogenics (MGNX) Tops Q2 EPS by 8c, Revenues Beat

July 30, 2020 5:18 PM EDT

Macrogenics (NASDAQ: MGNX) reported Q2 EPS of ($0.84), $0.08 better than the analyst estimate of ($0.92). Revenue for the quarter came in at $20.26 million versus the consensus estimate of $12.74 million.

Second Quarter 2020 Financial Results

Cash Position: Cash, cash equivalents and marketable securities as of June 30, 2020, were $232.8 million, compared to $215.8 million as of December 31, 2019. During the quarter ended June 30, 2020, $96.5 million in net proceeds were received from the sale of 4,060,482 shares of the Companys common stock pursuant to its at-the-market (ATM) offering. Subsequent to June 30, 2020, an additional $21.3 million net proceeds were received from the sale of 726,380... More