MGNX Stock — MacroGenics Inc.: Cash, EV, Pipeline

What they do

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).

Source: 10-K FY2025 via SEC EDGAR

Share price

$2.33

Market cap

$148.4M

Cash

$173.3M

Enterprise value

-$24.9M

Balance sheet

Cash	$173.3M
Debt	$0.0M
Net cash	$173.3M
Enterprise value	-$24.9M
Basic shares	63.7M shares
Fully diluted shares	79.8M shares
Fully diluted market cap	$185.9M
Cash per share	$2.72
Quarterly burn	$40.7M
Cash runway	4.3 quarters

Cash figures as of 2026-06-30. Database snapshot: 2026-11-07.

Share structure

Common

63.7M

Pre-funded warrants

0.0M

Options

14.1M

RSUs

1.2M

Warrants

0.0M

Converts

0.0M

Conv preferred

0.0M

ESPP reserve

0.8M

FDSO

79.8M

Cap table as of 2026-06-30.

Price history

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Next catalyst

MGD024 · Dec 13, 2026 - Jan 24, 2027 in 5 wks · Phase 1 · Leukemia, Acute Myeloid; Myelodysplastic Syndromes; Classical Hodgkin Lymphoma

Recently reported

Lorigerlimab Phase 2 Positive · 2026-10-26

PD-1

Primary: Objective response rate (ORR) in the Phase 2 LINNET study (NCT06730347) of lorigerlimab in advanced gynecologic cancers — Confirmed ORR of 25% (4/16) among response-evaluable patients with clear cell gynecologic cancer (CCGC)

· Disease control rate 44% (7/16) in CCGC; all responses ongoing at the September 1, 2026 data cutoff

· Median PFS 2.9 months (95% CI, 1.9-6.2) in the 17 safety-evaluable CCGC patients; PFS rate at 6 months was 33%

· 41 patients treated (platinum-resistant ovarian cancer n=24, CCGC n=17) at 6 mg/kg Q3W

· Enrolling 20 additional CCGC patients at 3 mg/kg Q3W; updated results anticipated in the first half of 2027

Safety: Grade >=3 treatment-related adverse events in 49% of patients; one Grade 5 TRAE in the PROC cohort; TRAEs led to discontinuation in 24% of all patients (18% in CCGC patients)

Source release →

MGC026 Phase 1 Positive · 2026-10-23

B7-H3 · advanced solid tumor, advanced cancer, metastatic cancer

Source release →

MGC026 Mixed · 2026-07-23

Source release →

Upcoming catalysts

Expected	Drug	Phase	Indication	Mgmt guide
Dec 13, 2026 - Jan 24, 2027 in 5 wks	MGD024	Phase 1	Leukemia, Acute Myeloid; Myelodysplastic Syndromes; Classical Hodgkin Lymphoma	—
Dec 13, 2026 - Jan 24, 2027 in 5 wks	MGC028	Phase 1	Advanced Solid Tumors; NSCLC Adenocarcinoma; Cholangiocarcinoma	Late 2026 Est. Nov 7, 2026 · guidance midpoint
GUIDEDEst. Apr 1, 2027 in 8 wks half midpoint	Lorigerlimab Phase 2 LINNET study in advanced gynecologic cancers	Phase 2	advanced gynecologic cancers	H1 2027
Oct 13 - Nov 24 in 24 mo	MGC030	Phase 1	Urothelial Cancer; GastroEsophageal Cancer; Colorectal Cancer	—
Jul 13 - Aug 24 in 57 mo	Lorigerlimab	Phase 2	Pancreatic Adenocarcinoma; Homologous Recombination Deficiency	—

Estimated readout windows: registry primary-completion date + 6-12 weeks. Windows already open are shown from "Now". Drug names link to ClinicalTrials.gov.

Full readout calendar →

Pipeline assets

MGC026

Phase 1 · Active Modality: antibody-drug conjugate (ADC)

Target B7-H3

Indications

solid tumors (Phase 1)

Status note ADC incorporating a B7-H3-targeting antibody with the SYNtecan E novel TOP1i-based linker-payload (exatecan-based, cleavable). Phase 1 dose escalation initiated 2024; enrollment completed 2025.

MGC028

Phase 1 · Active Modality: antibody-drug conjugate (ADC)

Target ADAM9

Indications

advanced solid tumors (Phase 1)

Catalysts

— second half of 2026

Status note First-in-class ADC with novel TOP1i-based linker-payload; Phase 1 dose escalation ongoing.

MGC030

Preclinical · Active Modality: antibody-drug conjugate (ADC)

Target undisclosed antigen

Indications

solid tumors (Preclinical)

Catalysts

— third quarter of 2026

Status note First-in-class ADC with novel TOP1i-based linker-payload against an undisclosed antigen expressed across several solid tumors; IND targeted for Q3 2026. Additional preclinical ADC and next-generation T-cell engager programs undescribed as distinct candidates.

Lorigerlimab

Phase 2 · Active Modality: bispecific DART molecule

Target PD-1 x CTLA-4

Indications

platinum-resistant ovarian cancer (LINNET study) (Phase 2)
clear cell gynecologic cancer (LINNET study) (Phase 2)

Catalysts

— mid-2026

Status note PD-1 x CTLA-4 bispecific DART. LINNET study (PROC, Simon two-stage): FDA partial clinical hold initiated February 2026 after enrollment pause for safety events; current participants may continue. LORIKEET (2L mCRPC vs docetaxel): development discontinued (November 2025) after LORIKEET interim data did not support further development; candidate status stays ACTIVE (LINNET continues) per brief.

MGD024

Phase 1 · Active Modality: bispecific DART molecule (next-generation T-cell engager)

Target CD123 x CD3

Partnerships Gilead: exclusive option and collaboration agreement (October 2022) to develop and commercialize MGD024 plus up to two separate bispecific research programs; Gilead nominated the second research program in November 2025

Indications

CD123-positive neoplasms (incl. AML and MDS) (Phase 1)

Status note Phase 1 dose escalation ongoing in CD123-positive neoplasms including AML and MDS.

Vobramitamab duocarmazine

Phase 2 · Terminated Modality: antibody-drug conjugate (ADC)

Aliases vobra duo

Target B7-H3

Partnerships Byondis: ADC technology license

Indications

metastatic castration-resistant prostate cancer (TAMARACK study) (Phase 2)

Status note B7-H3 ADC with DNA-alkylating duocarmycin payload. TAMARACK study treatment discontinued for remaining mCRPC participants in July 2024 on safety recommendation; March 2025 company announced results did not support future investment and discontinued MacroGenics-based development.

Per-asset detail extracted from the 10-Q filed 2026-08-14. Fields the filing does not state are marked "not disclosed" rather than filled from other sources.

Pipeline

Lead drug	Lorigerlimab
Lead indication	Platinum-resistant Ovarian Cancer; Platinum-Resistant Fallopian Tube Carcinoma; Platinum-Resistant Primary Peritoneal Carcinoma
Lead phase	Phase 2
Active trials	5
Collaborator trials	7

Active clinical trials

Trial	Phase	Status	Role	Sponsor	BP	Condition(s)	Mgmt guide
NCT06730347	Phase 2	Recruiting	Sponsor	MacroGenics	—	Platinum-resistant Ovarian Cancer; Platinum-Resistant Fallopian Tube Carcinoma; Platinum-Resistant Primary Peritoneal Carcinoma	—
NCT05362773	Phase 1	Active, not recruiting	Sponsor	MacroGenics	—	Leukemia, Acute Myeloid; Myelodysplastic Syndromes; Classical Hodgkin Lymphoma	—
NCT06723236	Phase 1	Recruiting	Sponsor	MacroGenics	—	Advanced Solid Tumors; NSCLC Adenocarcinoma; Cholangiocarcinoma	Late 2026 Est. Nov 7, 2026 · guidance midpoint
NCT06242470	Phase 1	Recruiting	Sponsor	MacroGenics	—	Advanced Solid Tumor; Advanced Cancer; Metastatic Cancer	ESMO 2026 Congress (October 2026)
NCT07822399	Phase 1	Not yet recruiting	Sponsor	MacroGenics	—	Urothelial Cancer; GastroEsophageal Cancer; Colorectal Cancer	—
NCT07071961	Phase 2	Recruiting	Collaborator	M.D. Anderson Cancer Center	—	Colorectal Cancer; Regorafenib; High Risk Patients	—
NCT05475171	Phase 2	Recruiting	Collaborator	M.D. Anderson Cancer Center	—	Metastatic Cancer; Cervical Cancer	—
NCT06014255	Phase 2	Active, not recruiting	Collaborator	Sidney Kimmel Comprehensive Cancer Center at Johns Hopkins	—	Prostate Cancer	—
NCT07565155	Phase 2	Not yet recruiting	Collaborator	Peter Hosein, MD	—	Pancreatic Adenocarcinoma; Homologous Recombination Deficiency	—
NCT02923180	Phase 2	Active, not recruiting	Collaborator	Sidney Kimmel Comprehensive Cancer Center at Johns Hopkins	—	Prostate Cancer	—
NCT04425018	Phase 2	Active, not recruiting	Collaborator	Dana-Farber Cancer Institute	—	Breast Cancer; Stage II Breast Cancer; Stage III Breast Cancer	—
NCT06227546	Phase 2	Active, not recruiting	Collaborator	Georgetown University	—	Extensive-stage Small-cell Lung Cancer	—

Sponsor-matched active trials from ClinicalTrials.gov (5 as sponsor, 7 as collaborator); "Sponsor" = company is the lead sponsor, "Collaborator" = company is a collaborator. The BP column flags big-pharma involvement as lead sponsor or collaborator (excluding the company itself). The Mgmt guide column shows what management guided for readout timing when a guided program matches the trial (hover for the quote, click for the source). Trial listings are not a company pipeline slide.

View all 12 active trials for MacroGenics on ClinicalTrials.gov

Specialist fund holders

Tracked specialist funds: ADAR1 Capital Management, Aisling Capital, Ally Bridge Group, Avoro Capital Advisors, BVF Partners, Baker Bros. Advisors, Boxer Capital, Braidwell LP, Casdin Capital, Cormorant Asset Management, DAFNA Capital, Deerfield Management, EcoR1 Capital, Frazier Life Sciences, Great Point Partners, Ikarian Capital, Logos Global Management, OrbiMed Advisors, Perceptive Advisors, RA Capital Management, RTW Investments, Sphera Biotech, Stonepine Capital, Tang Capital Partners, Vivo Capital.

Fund	Shares	Q/Q change	% of portfolio	Filing
RA Capital Management	1,864,176	no change	0.07%	2026-08-14
ADAR1 Capital Management	129,822	+89,822	0.03%	2026-08-14
Ikarian Capital	74,893	no change	0.06%	2026-08-14

Specialist-fund positions from 13F filings. Q/Q change is vs the prior quarter's filing; % of portfolio is the fund's own reported portfolio weight.

Latest news

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MGNX — MacroGenics Inc. ☆

What they do

Balance sheet

Share structure

Price history

Next catalyst

Recently reported

Upcoming catalysts

Pipeline assets

Pipeline

Active clinical trials

Specialist fund holders

Latest news

MGNX — MacroGenics Inc.