MacroGenics (MGNX) Goldman Sachs 45th Annual Global Healthcare Conference summary

Financial and strategic highlights

• Secured over $1 billion in non-dilutive capital since IPO, including $335 million from 2022–2023 partnerships and royalty monetization.

• Over $1 billion in milestones remain for two approved products, with near-term opportunities tied to phase III studies and regulatory approvals.

• Cash runway projected into 2026, supported by current reserves and anticipated partner payments and revenues.

• Disciplined investment in pipeline, with funding focused on ongoing and upcoming clinical studies.

Pipeline and clinical development

• Advancing a robust pipeline of cancer therapeutics, with a focus on prostate cancer and expansion into other tumor types.

• Three B7-H3-targeting molecules in development, including two ADCs with distinct linker toxins to address resistance and tumor heterogeneity.

• Vobra Duo phase II Tamarack study interim results show promising antitumor activity and improved safety; full results expected in H2 2024.

• MGC026 and MGC028 leverage Synaffix linker toxin technology, with phase I and IND filings planned; preclinical data show strong antitumor activity and improved safety.

• Lorigerlimab, a bispecific checkpoint inhibitor, demonstrated superior efficacy and tolerability in prostate cancer; phase II enrollment ongoing, with data in 2025.

Safety and efficacy updates

• Vobra Duo interim analysis showed PSA reductions and high disease control rates, with manageable safety profile and lower AE-related death rates compared to historical data.

• Most adverse events were grade 1 or 2; ongoing efforts to mitigate and manage AEs through improved medical management and provider education.

• Lorigerlimab showed 29% PSA 50 reductions and 26% confirmed ORR, with minimal severe immune-related toxicity.