MacroGenics reports Q2 EPS ($1.03), consensus ($1.22)
Reports Q2 revenue $18.83M, consensus $4.21M. Revenue from collaborative agreements includes the recognition of deferred revenue from payments received in previous periods as well as payments received during the year. "MacroGenics continues to advance its portfolio of oncology product candidates toward multiple data read-outs," said Scott Koenig, president and CEO of MacroGenics. "We expect to complete enrollment of the SOPHIA Phase 3 metastatic breast cancer study of margetuximab in the next few months and be able to disclose top-line results in the first quarter of 2019. Also in early 2019, we expect to provide an update on the combination study of margetuximab with an anti-PD-1 agent in the treatment of gastric cancer patients in a Phase 2 study. In addition, we will provide updates later this year on both the enoblituzumab plus anti-PD-1 combination study, as well as the flotetuzumab monotherapy dose expansion study in patients with relapsed/refractory acute myeloid leukemia (AML). Finally, we recently submitted an investigational new drug (IND) application for our first antibody-drug conjugate - MGC018, an anti-B7-H3 ADC - and anticipate submitting an IND for MGD019 (PD-1 x CTLA-4 DART(R) molecule) by year-end."