MacroGenics rises on $10 million milestone payment from Gilead
MGNX•MacroGenics shares rise after milestone payment
Shares of drug developer MacroGenics (MGNX.O) rise 3.8% to $4.07 in extended trading.
The company says it has received a $10 million milestone payment from Gilead (GILD.O) under its licensing agreement for a preclinical bispecific program — a type of cancer therapy.
Collaboration details and remaining milestone potential
Under the 2022 collaboration agreement, MacroGenics and Gilead are advancing three programs: MGD024, a clinical-stage cancer therapy, and two preclinical bispecific programs.
MGNX remains eligible to receive up to about $1.6 billion in additional development, regulatory and commercial milestone payments.
Shares have more than doubled YTD.
