 Conference call scheduled for today at 4:30 p.m. ET.ROCKVILLE, Md., July 30, 2020 GLOBE NEWSWIRE -- MacroGenics, Inc. NASDAQ: MGNX, a clinical-stage biopharmaceutical company focused on discovering and developing innovative monoclonal antibody-based therapeutics for the treatment of cancer, today provided an update on its corporate progress and reported financial results for the quarter ended June 30, 2020. We are excited about the momentum we have built to date in 2020. We have presented promising initial clinical data at ASCO from the MGD013 and MGC018 programs. We have defined a potential registration path for flotetuzumab and we have received FDA clearance to initiate clinical testing of our novel antibody-drug conjugate targeting ADAM9 being co-developed with ImmunoGen. Furthermore, we were able to extend our cash runway into 2023, said Scott Koenig, M.D., Ph.D., President and CEO of MacroGenics. In the coming months, we anticipate presentation of clinical data from other investigational product candidates in our pipeline, including MGD019, a PD-1 × CTLA-4 DART molecule, and retifanlimab, an anti-PD-1 antibody. Additionally, the PDUFA goal date for the margetuximab BLA is in December.Key Highlights from Investigational Product Candidates MGC018 B7-H3 antibody-drug conjugate: At the American Society of Clinical Oncology ASCO Virtual Annual Meeting in May, data were presented from the ongoing Phase 12 dose escalation study of MGC018 that suggested manageable safety and preliminary activity in patients with metastatic castration-resistant prostate cancer mCRPC. The Company expects to commence the enrollment of an expansion cohort of patients with mCRPC as part of the Phase 12 study in the third quarter of 2020. Flotetuzumab bispecific CD123 × CD3 DART molecule: In May, MacroGenics announced that the trial of flotetuzumab designed to support registration in the U.S. will be a single arm study in up to 200 patients with AML whose disease is refractory to induction treatment primary induction failure or has relapsed after a remission of less than six months early relapse. The trial will be conducted as an expansion of the ongoing Phase 12 study. The primary endpoint is a response rate comprised of complete remission CR and CR with partial hematological recovery CRh. The Company plans to submit updated data for presentation at a scientific conference in the fourth quarter of 2020. Margetuximab Fc-engineered, anti-HER2 mAb: The Food and Drug Administration FDA notified MacroGenics in May that it no longer plans to hold an Oncologic Drugs Advisory Committee ODAC meeting to discuss the Biologics License Application BLA for margetuximab in combination with chemotherapy as a treatment for patients with metastatic HER2-positive breast cancer. The Prescription Drug User Fee Act PDUFA target action date is December 18, 2020. In July, The Lancet Oncology published results from a Phase 2 study of margetuximab and pembrolizumab in second-line patients with advanced HER2-positive gastric or gastroesophageal junction cancer. These data formed the basis for conducting the ongoing Phase 23 MAHOGANY study of margetuximab plus checkpoint blockade in front-line patients. MGD013 bispecific PD-1 × LAG-3 DART molecule: At the ASCO Virtual Annual Meeting, results were presented from dose escalation and select expansion cohorts from the ongoing Phase 1 study of MGD013 in advanced solid tumors as well as the combination of MGD013 and margetuximab in a cohort of patients with advanced HER2-positive tumors. MacroGenics is expanding enrollment of the combination cohort. MGD019 bispecific PD-1 × CTLA-4 DART molecule: Data from the Phase 1 dose escalation study of MGD019 are scheduled to be presented during an oral session at the European Society for Medical Oncology ESMO Virtual Congress 2020 to be held September 19-21. IMGC936 ADAM9 antibody-drug conjugate: In July, MacroGenics received FDA clearance of the Investigational New Drug IND application for IMGC936 that is being advanced under a co-development agreement with ImmunoGen, Inc. ADAM9 is a cell surface protein over-expressed in several solid tumor types. ImmunoGen expects to initiate a Phase 1 dose escalation study in patients with select advanced solid tumors in the fourth quarter of 2020. Enoblituzumab Fc-engineered, anti-B7-H3 mAb: MacroGenics expects to initiate a Phase 2 study of enoblituzumab in combination with retifanlimab as a chemo-free regimen in front-line patients with advanced head and neck cancer in the first quarter of 2021. Retifanlimab anti-PD-1 mAb also known as MGA012 or INCMGA0012: Data from POD1UM-201, the ongoing study of retifanlimab monotherapy in patients with Merkel cell carcinoma, are scheduled to be presented during a poster session at the ESMO Virtual Congress 2020. In addition, data from POD1UM-202, the fully-enrolled, potentially registration-enabling monotherapy study in patients with squamous cell carcinoma of the anal canal, are expected to be presented at a medical congress in the second half of 2020. Retifanlimab was invented by MacroGenics and licensed to Incyte.Corporate Highlights Stephen Eck, M.D., Ph.D. joined the senior leadership team at MacroGenics as Senior Vice President, Clinical Development and Chief Medical Officer.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 shares pursuant to the Companys ATM offering and 12.0 million was received from Boehringer Ingelheim GmbH under a 2010 license and collaboration agreement. Revenue: Total revenue, consisting primarily of revenue from collaborative agreements, was 20.3 million for the quarter ended June 30, 2020, compared to 10.6 million for the quarter ended June 30, 2019. This increase was primarily due to 12.0 million recognized from the agreement with Boehringer Ingelheim. RD Expenses: Research and development expenses were 57.4 million for the quarter ended June 30, 2020, compared to 51.4 million for the quarter ended June 30, 2019. This increase was primarily due to an increase in development and clinical trial costs for multiple programs. GA Expenses: General and administrative expenses were 10.2 million for the quarter ended June 30, 2020, compared to 12.1 million for the quarter ended June 30, 2019. This decrease is primarily due to a decrease in consulting costs, with a smaller decrease in travel-related costs due to COVID-19. Net Loss: Net loss was 46.9 million for the quarter ended June 30, 2020, compared to net loss of 31.8 million for the quarter ended June 30, 2019. Shares Outstanding: Shares outstanding as of June 30, 2020 were 53,365,003. Cash Runway Guidance: MacroGenics anticipates that its cash, cash equivalents and marketable securities as of June 30, 2020, plus the additional proceeds referred to above which were subsequently received, combined with anticipated and potential collaboration payments, should enable it to fund its operations into 2023, assuming the Companys programs and collaborations advance as currently contemplated.Conference Call InformationMacroGenics will host a conference call today at 4:30 p.m. ET to discuss financial results for the quarter ended June 30, 2020 and provide a corporate update. To participate in the conference call, please dial 877 303-6253 domestic or 973 409-9610 international ten minutes prior to the start of the call and provide the Conference ID: 3236629.The listen-only webcast of the conference call can be accessed under Events Presentations in the Investor Relations section of the Companys website at A replay of the webcast will be available shortly after the conclusion of the call and archived on the Companys website for 30 days following the call.MACROGENICS, INC. SELECTED CONSOLIDATED BALANCE SHEET DATA Amounts in thousands June 30, 2020 December 31, 2019 unaudited Cash, cash equivalents and marketable securities232,799 215,756 Total assets327,592 312,501 Deferred revenue16,086 19,853 Total stockholders equity247,784 230,628 MACROGENICS, INC. CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS Unaudited Amounts in thousands, except share and per share data Three Months Ended June 30, Six Months Ended June 30, 2020 2019 2020 2019 Revenues: Revenue from collaborative and other agreements15,636 9,987 28,603 19,484 Revenue from government agreements4,621 606 5,336 771 Total revenues20,257 10,593 33,939 20,255 Costs and expenses: Research and development57,351 51,440 106,245 98,500 General and administrative10,216 12,122 20,449 22,341 Total costs and expenses67,567 63,562 126,694 120,841 Loss from operations47,310 52,969 92,755 100,586 Other income425 21,202 1,146 23,802 Net loss46,885 31,767 91,609 76,784 Other comprehensive loss: Unrealized gain loss on investments55 34 1 37 Comprehensive loss46,940 31,733 91,608 76,747 Basic and diluted net loss per common share0.94 0.65 1.85 1.63 Basic and diluted weighted average common shares outstanding50,018,462 48,845,234 49,515,562 47,234,889 About MacroGenics, Inc. 