MacroGenics, Inc (MGNX) saw its loss widen to $33.85 million, or $0.97 a share for the quarter ended Sep. 30, 2016. In the previous year period, the company reported a loss of $15.44 million, or $0.46 a share. Revenue during the quarter plunged 77.83 percent to $3.26 million from $14.68 million in the previous year period.
Operating loss for the quarter was $34.26 million, compared with an operating loss of $15.44 million in the previous year period.
"MacroGenics continues to make progress across its broad pipeline of clinical compounds, including margetuximab, our Fc-optimized anti-HER2 monoclonal antibody, our two clinical programs targeting B7-H3 as well as several bispecific product candidates based on our DART® platform," said Scott Koenig, M.D., Ph.D., president and chief executive officer of MacroGenics. "During the third quarter, an IND for MGA012 cleared the FDA and we remain on track to submit two DART molecule INDs in 2017, which would result in a total of eight DART molecules in clinical development. We look forward to providing an update on multiple clinical and preclinical programs at our R&D Day on December 13."
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