MacroGenics Achieves $100M In Milestones Related To Retifanlimab Collaboration wWth Incyte Related To Development Progress Of ZYNYZ
Portfolio Pulse from Benzinga Newsdesk
MacroGenics, Inc. (NASDAQ:MGNX) announced the achievement of $100 million in milestones from Incyte Corporation related to the development progress of ZYNYZ (retifanlimab-dlwr). This milestone is part of a 2017 collaboration agreement, and MacroGenics remains eligible for additional milestones and royalties. The company expects this milestone to support its cash runway into 2026.
July 30, 2024 | 8:19 pm
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POSITIVE IMPACT
MacroGenics achieved a $100 million milestone from Incyte for the development of ZYNYZ, supporting its cash runway into 2026.
The $100 million milestone significantly boosts MacroGenics' financial position, extending its cash runway into 2026. This is a positive development for the company's stock.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100
NEUTRAL IMPACT
Incyte Corporation's collaboration with MacroGenics has resulted in a $100 million milestone payment for the development of ZYNYZ.
While the milestone payment is a significant financial commitment, it reflects progress in Incyte's collaboration with MacroGenics, which could be seen as a positive for future product development.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 50