MacroGenics, Inc (MGNX) saw its loss widen to $58.53 million, or $1.69 a share for the year ended Dec. 31, 2016. In the previous year period, the company reported a loss of $20.14 million, or $0.63 a share. Revenue during the year dropped 8.90 percent to $91.88 million from $100.85 million in the previous year. Operating margin for the year stood at negative 65.35 percent as compared to a negative 20.01 percent for the previous year.
Operating loss for the year was $60.04 million, compared with an operating loss of $20.18 million in the previous year.
“MacroGenics continues to advance its broad pipeline of clinical compounds, including those in our HER2, B7-H3 and PD-1 franchises as well as the many bispecific product candidates based on our DART platform,” said Scott Koenig, M.D., Ph.D., President and Chief executive officer of MacroGenics. “Across our portfolio of proprietary antibody and DART-based oncology programs, we now have initial evidence of on-target engagement, manageable safety and anti-tumor activity. In addition, I am very encouraged by the biological activity observed in subjects treated with MacroGenics’ autoimmune DART molecule, MGD010. We will continue to advance our robust pipeline in 2017, including defining future development strategies for multiple programs based on data expected later this year.”
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