Macrogenics Inc. Files 2023 Annual Report on Form 10-K

TL;DR

<b>Macrogenics Inc. filed its 2023 10-K report detailing financial performance and business operations.</b>

AI Summary

MACROGENICS INC (MGNX) filed a Annual Report (10-K) with the SEC on March 7, 2024. Macrogenics Inc. filed its 10-K report for the fiscal year ending December 31, 2023. The company is engaged in the Pharmaceutical Preparations industry (SIC 2834). Key executives include James Karrels and Jeffrey Peters. Revenue streams include Product, Contract Manufacturing, Collaborative Agreements, Royalty Agreements, and Government Agreements. The filing covers financial data for the fiscal years 2021, 2022, and 2023.

Why It Matters

For investors and stakeholders tracking MACROGENICS INC, this filing contains several important signals. This 10-K filing provides a comprehensive overview of Macrogenics' financial health and strategic direction for investors and stakeholders. The detailed breakdown of revenue segments and executive compensation offers insights into the company's operational focus and management structure.

Risk Assessment

Risk Level: medium — MACROGENICS INC shows moderate risk based on this filing. The company's financial performance and future prospects are subject to the inherent risks and uncertainties of the pharmaceutical industry, including regulatory approvals, market competition, and clinical trial outcomes, as detailed in their 10-K filing.

Analyst Insight

Investors should review the detailed financial statements and risk factors in the 10-K to assess Macrogenics' long-term viability and growth potential.

Revenue Breakdown

Key Numbers

• 2023-12-31 — Fiscal Year End (Reporting period)
• 2024-03-07 — Filing Date (Date of submission)
• 2834 — SIC Code (Pharmaceutical Preparations)
• 001-36112 — SEC File Number (SEC registration)

Key Players & Entities

• MACROGENICS INC (company) — Filer name
• James Karrels (person) — Executive member
• Jeffrey Peters (person) — Executive member
• 2023-12-31 (date) — Fiscal year end
• 2024-03-07 (date) — Filing date
• Rockville (location) — Business address city
• MD (location) — Business address state
• 20850 (postal_code) — Business address zip

FAQ

Industry Context

Macrogenics Inc. operates within the pharmaceutical preparations industry, focusing on the development and commercialization of innovative therapeutics.

Regulatory Implications

The company's operations are subject to stringent regulatory oversight by bodies such as the FDA, governing drug development, approval, and marketing.

What Investors Should Do

1. Analyze the detailed financial statements for revenue trends and profitability.
2. Review the risk factors section for potential challenges and mitigation strategies.
3. Examine executive compensation and corporate governance practices.

Key Dates

• 2023-12-31: Fiscal Year End — End of the reporting period for the 10-K.
• 2024-03-07: Filing Date — Date the 10-K report was officially submitted to the SEC.

Year-Over-Year Comparison

This filing is the 2023 annual report (10-K), providing year-end financial and operational data, which will be compared against previous filings for performance analysis.

Key Financial Figures

• $0.01 — ich registered Common Stock, par value $0.01 per share MGNX Nasdaq Global Select Ma

Filing Documents

• mgnx-20231231.htm (10-K) — 1683KB
• exhibit108employeestockopt.htm (EX-10.8) — 43KB
• exhibit109employeersuaward.htm (EX-10.9) — 36KB
• exhibit1010bodoptiongrantn.htm (EX-10.10) — 39KB
• exhibit1011bodrsuawardgran.htm (EX-10.11) — 36KB
• mgnxexhibit23-1202310xk.htm (EX-23.1) — 8KB
• mgnxexhibit31-1202310xk.htm (EX-31.1) — 9KB
• mgnxexhibit31-2202310xk.htm (EX-31.2) — 10KB
• mgnxexhibit32-1202310xk.htm (EX-32.1) — 3KB
• mgnxexhibit32-2202310xk.htm (EX-32.2) — 3KB
• mgnxex97-1clawbackpolicy.htm (EX-97.1) — 56KB
• mgnx-20231231_g1.jpg (GRAPHIC) — 1762KB
• mgnx-20231231_g2.jpg (GRAPHIC) — 1777KB
• mgnx-20231231_g3.jpg (GRAPHIC) — 136KB
• 0001125345-24-000060.txt (&nbsp;) — 16458KB
• mgnx-20231231.xsd (EX-101.SCH) — 55KB
• mgnx-20231231_cal.xml (EX-101.CAL) — 62KB
• mgnx-20231231_def.xml (EX-101.DEF) — 286KB
• mgnx-20231231_lab.xml (EX-101.LAB) — 691KB
• mgnx-20231231_pre.xml (EX-101.PRE) — 492KB
• mgnx-20231231_htm.xml (XML) — 990KB

Business

Item 1 Business

Risk Factors

Item 1A Risk Factors

Unresolved Staff Comments

Item 1B Unresolved Staff Comments

Cybersecurity

Item 1C Cybersecurity

Properties

Item 2 Properties

Legal Proceedings

Item 3 Legal Proceedings

Mine Safety Disclosures

Item 4 Mine Safety Disclosures PART II

Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities

Item 5 Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities

Reserved

Item 6 Reserved

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 7 Management's Discussion and Analysis of Financial Condition and Results of Operations

Quantitative and Qualitative Disclosures about Market Risk

Item 7A Quantitative and Qualitative Disclosures about Market Risk

Financial Statements and Supplementary Data

Item 8 Financial Statements and Supplementary Data

Changes in and Disagreements with Accountants on Accounting and Financial Disclosure

Item 9 Changes in and Disagreements with Accountants on Accounting and Financial Disclosure

Controls and Procedures

Item 9A Controls and Procedures

Other Information

Item 9B Other Information

Disclosure Regarding Foreign Jurisdictions that Prevent Inspections

Item 9C Disclosure Regarding Foreign Jurisdictions that Prevent Inspections PART III

Directors, Executive Officers and Corporate Governance

Item 10 Directors, Executive Officers and Corporate Governance

Executive Compensation

Item 11 Executive Compensation

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Item 12 Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Certain Relationships and Related Transactions, and Director Independence

Item 13 Certain Relationships and Related Transactions, and Director Independence

Principal Accountant Fees and Services

Item 14 Principal Accountant Fees and Services PART IV

Exhibits and Financial Statement Schedules

Item 15 Exhibits and Financial Statement Schedules

Form 10-K Summary

Item 16 Form 10-K Summary

Signatures

Signatures

FORWARD-LOOKING STATEMENTS

FORWARD-LOOKING STATEMENTS This report includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements include statements that may relate to our plans, objectives, goals, strategies, future events, future revenues or performance, capital expenditures, financing needs and other information that is not historical information. Many of these statements appear, in particular, under the headings "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" in this Annual Report on Form 10-K. Forward-looking statements can often be identified by the use of terminology such as "subject to", "believe", "anticipate", "plan", "expect", "intend", "estimate", "project", "may", "will", "should", "would", "could", "can", the negatives thereof, variations thereon and similar expressions, or by discussions of strategy. All forward-looking statements, including, without limitation, our examination of historical operating trends, are based upon our current expectations and various assumptions. We believe there is a reasonable basis for our expectations and beliefs, but they are inherently uncertain. We may not realize our expectations, and our beliefs may not prove correct. Actual results could differ materially from those described or implied by such forward-looking statements. The following uncertainties and factors, among others (including those set forth under "Risk Factors"), could affect future performance and cause actual results to differ materially from those matters expressed in or implied by forward-looking statements: our plans to develop and commercialize our product candidates; the outcomes of our ongoing and planned clinical trials and the timing of those outcomes, including when clinical trials will be initiated or completed, enrollment of trials, and when data will be reported or regulatory filings will

BUSINESS

ITEM 1. BUSINESS Except as otherwise indicated herein or as the context otherwise requires, references in this annual report on Form 10-K to "MacroGenics," the "company," "we," "us" and "our" refer to MacroGenics, Inc. and its consolidated subsidiaries. " MacroGenics , the MacroGenics logo, DART , TRIDENT , MARGENZA and the phrases Breakthrough Biologics, Life-Changing Medicines and Developing Breakthrough Biologics, Life-Changing Medicines are our trademark s. The other trademarks, trade names and service marks appearing in this report are the property of their respective owners. Overview We are a biopharmaceutical company focused on discovering, developing, manufacturing and commercializing innovative antibody-based therapeutics for the treatment of cancer. We have a pipeline of product candidates designed to target either various tumor-associated antigens or immune checkpoint molecules. These candidates are being evaluated in clinical trials sponsored by us or our collaborators or are in preclinical development. Our clinical product candidates include multiple oncology programs which have either been created using our proprietary, antibody-based technology platforms or enabled through our technology licensing arrangements with other companies. We believe our product candidates have the potential, if approved for marketing by regulatory authorities, to have a meaningful effect on treating patients' unmet medical needs as monotherapy or, in some cases, in combination with other therapeutic agents. To date, three products originating from our pipeline of proprietary or partnered product candidates have received U.S. Food and Drug Administration (FDA) approval. Our lead pipeline program is vobramitamab duocarmazine (vobra duo), an antibody-drug conjugate (ADC) that targets B7-H3, a molecule in the B7 family of immune regulator proteins that is widely expressed by several different tumor types. In addition, we are developing MGC026, a B7-H3-based ADC that deliver