MacroGenics (MGNX) H.C. Wainwright 28th Annual Global Investment Conference summary

Strategic transformation and organizational focus

• Leadership transition to a new CEO led to a renewed urgency and a simpler organizational structure, including divestiture of the embedded CDMO operation, reducing headcount from over 300 to about 140.

• The company is now leaner and more focused on delivering shareholder value and advancing next-generation antibody therapeutics across three core platforms.

Pipeline and clinical development highlights

• Eight assets are in the pipeline, with global rights retained for most ADC programs, including two first-in-class candidates and one undisclosed target that advanced ahead of schedule.

• The B7-H3 ADC program (026) is progressing, with a clinical update scheduled for ESMO in October, showing an encouraging safety profile and emerging lead indication in head and neck cancer.

• The ADAM9-targeting ADC (028) completed IND-enabling studies and is in dose escalation, while another Topo 1-based ADC (030) is entering phase I trials.

Partnerships, collaborations, and financial position

• Over $300 million was raised through business development and partnerships in the past year, with a pro forma cash balance of $327 million and a cash runway through 2028.

• Key collaborations include Gilead, Sanofi, Incyte, and TerSera, with multiple T-cell engager programs and milestone payments received.

• No debt on the balance sheet and a focus on non-dilutive funding, including a royalty monetization deal with Sagard Health.