MacroGenics Advances ADC Pipeline with Three Clinical Programs Set for 2026 Data Readouts
核心洞察
MacroGenics is developing three innovative antibody-drug conjugates (ADCs) targeting B7-H3 (搜索), ADAM9 (搜索), and an undisclosed antigen, with initial clinical data expected from MGC026 and MGC028 in 2026.
The company's ADC programs have demonstrated acceptable safety profiles with no interstitial lung disease observations and early evidence of anti-tumor activity by RECIST criteria.
MacroGenics maintains a strong financial position with $189.9 million in cash and securities, providing runway into late 2027 to support clinical development milestones.
MacroGenics reported significant progress across its antibody-drug conjugate (ADC) pipeline, with three clinical-stage programs poised to deliver key data readouts in 2026. The clinical-stage biopharmaceutical company announced plans for initial Phase 1 results from MGC026 targeting B7-H3 (搜索) in mid-2026 and MGC028 targeting ADAM9 (搜索) in the second half of 2026, while preparing to submit an Investigational New Drug application for MGC030 (搜索) in the third quarter of 2026.
"I am excited about MacroGenics' future prospects, and am inspired by the commitment of our employees over the past few quarters to sharpen our focus and advance our strategic priorities," said Eric Risser, President and CEO of MacroGenics. "Looking ahead, we anticipate several important milestones in 2026, including initial clinical data from the Phase 1 studies of MGC026 and MGC028, and from the LINNET study of lorigerlimab."
Innovative ADC Platform Shows Promise
MacroGenics is developing potential best-in-class or first-in-class ADCs that leverage its protein engineering expertise and incorporate potent glycan-linked exatecan payloads designed to enable an expanded therapeutic window. The proprietary drug-linker platform is licensed from Synaffix B.V. (搜索), a Lonza company.
The company's two clinical-stage ADC programs, MGC026 and MGC028, have demonstrated acceptable safety profiles to date, with no observations of interstitial lung disease, as well as encouraging early evidence of anti-tumor activity by Response Evaluation Criteria in Solid Tumors (搜索) (RECIST).
MGC026 Targets Broadly Expressed B7-H3
MGC026 targets B7-H3 (搜索), an antigen with broad expression across multiple solid tumors (搜索) and a member of the B7 family of molecules involved in immune regulation. The company completed enrollment of a Phase 1 dose escalation study in 2025 and is currently enrolling patients in a dose expansion study in selected solid tumor indications.
MGC028 Represents First-in-Class ADAM9 Targeting
MGC028 is a first-in-class ADC that targets ADAM9 (搜索), a member of the ADAM family of multifunctional type 1 transmembrane proteins that play a role in tumorigenesis and cancer progression and is overexpressed in multiple solid tumors (搜索). MGC028 is currently being evaluated in a Phase 1 dose escalation study in patients with advanced solid tumors.
MGC030 Advances Toward Clinical Development
MGC030 (搜索) is a first-in-class preclinical ADC that targets an undisclosed antigen expressed across several solid tumors (搜索). An Investigational New Drug (IND) application to the U.S. Food and Drug Administration (FDA) for MGC030 is planned for the third quarter of 2026.
Partnership Portfolio Delivers Continued Value
MacroGenics maintains strategic collaborations with major pharmaceutical companies that continue to advance multiple programs. The company remains eligible to receive up to $1.6 billion in future milestones from its partnership with Gilead, which includes MGD024, a clinical-stage CD123 (搜索) × CD3 (搜索) bispecific DART molecule being evaluated in an ongoing dose escalation study in AML (搜索) and MDS (搜索), along with two preclinical programs.
The Sanofi partnership for TZIELD (teplizumab-mzwv), an antibody targeting CD3 (搜索), reached a significant regulatory milestone when the FDA accepted the drug for expedited review in stage 3 type 1 diabetes (搜索) through the FDA Commissioner's National Priority Voucher pilot program in October 2025. MacroGenics remains eligible to receive up to $330 million in additional milestones related to TZIELD.
Incyte's development of ZYNYZ (retifanlimab-dlwr (搜索)), a humanized PD-1 (搜索) antibody originally developed in collaboration with MacroGenics, achieved important regulatory approvals in 2025. Japan's Ministry of Health, Labour and Welfare approved ZYNYZ as first-line therapy for adults with locally recurrent or metastatic squamous cell carcinoma of the anal canal (搜索) (SCAC) in December 2025. The European Commission also approved ZYNYZ in combination with carboplatin and paclitaxel for first-line treatment of adult patients with metastatic or inoperable locally recurrent SCAC. MacroGenics remains eligible to receive up to $540 million in additional milestones related to ZYNYZ.
Strong Financial Position Supports Development Timeline
MacroGenics reported a cash position of $189.9 million in cash, cash equivalents and marketable securities as of December 31, 2025, compared to $201.7 million as of December 31, 2024. The company anticipates this balance, combined with anticipated future payments from partners and cost-reduction initiatives, will support its cash runway into late 2027.
Total revenue for 2025 was $149.5 million, compared to $150.0 million in 2024. Contract manufacturing revenue increased significantly to $52.6 million in 2025 from $13.1 million in 2024, reflecting increased production for external clients. Research and development expenses decreased to $147.2 million in 2025 from $177.2 million in 2024, primarily due to decreased costs related to terminated or sold programs, partially offset by increased clinical trial costs for MGC026 and MGC028.
The company reported a net loss of $74.6 million for 2025, compared to $67.0 million in 2024, which included a $36.3 million gain on sale of MARGENZA. Selling, general and administrative expenses decreased significantly to $39.2 million in 2025 from $71.0 million in 2024, primarily due to lower stock-based compensation expense and reduced professional fees.