Shares of MacroGenics (NASDAQ: MGNX) were tanking by 19.7% as of 12:22 p.m. ET on Wednesday. MacroGenics reported Q1 revenue of $11.1 million, with $3.6 million in sales of breast cancer drug Margenza and the rest from collaborative agreements. It's not surprising that the MacroGenics stock fell after it missed Q1 estimates.
MacroGenics (MGNX) delivered earnings and revenue surprises of -28.57% and 35.46%, respectively, for the quarter ended March 2022. Do the numbers hold clues to what lies ahead for the stock?
Plan to start Phase 2/3 prostate cancer study with MGC018 by year-end Initiated Phase 1 study of MGC018 in combination with lorigerlimab in advanced solid tumorsTargeting mid-2022 start of Phase 1 study of MGD024 in hematologic malignanciesConference call scheduled for today at 4:30 p.m. ET. ROCKVILLE, Md., May 03, 2022 (GLOBE NEWSWIRE) -- MacroGenics, Inc. (NASDAQ: MGNX), a biopharmaceutical company focused on developing and commercializing innovative antibody-based therapeutics for the treatme