MacroGenics, Inc. provided an update on its corporate progress and reported financial results for the first quarter ended March 31, 2025, on May 13, 2025. The company reported a loss of $41 million for the quarter and lagged revenue estimates.
Total revenue for the first quarter of 2025 was $13.2 million, an increase from $9.1 million in the prior year period. Net cash used in operating activities for the three months ended March 31, 2025, was $46.9 million.
As of March 31, 2025, MacroGenics held $154.1 million in cash, cash equivalents, and marketable securities, which is expected to support its cash runway into the second half of 2026. The company also announced dosing the first patient in its Phase 2 LINNET study of lorigerlimab.
The LINNET study will evaluate lorigerlimab in patients with platinum-resistant ovarian cancer and clear cell gynecologic cancers. This advancement highlights the company's focus on its differentiated bispecific checkpoint inhibitor, lorigerlimab, for indications with significant unmet medical needs.
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