MacroGenics Inc

Gilead Sciences has exercised its option to exclusively license a preclinical bispecific program targeting solid tumors using MacroGenics' proprietary TRIDENT platform, triggering a $10 million milestone payment to MacroGenics. The decision builds on the companies' 2022 collaboration, which spans three programs including the clinical-stage CD123 x CD3 bispecific MGD024, and keeps MacroGenics eligible for up to $1.6 billion in milestone payments plus sales royalties. MacroGenics reported Q1 2026 revenue of $20.8 million and a net loss of $36.8 million, with $154.2 million in cash, and has extended its cash runway through 2028 after monetizing ZYNYZ royalties and selling its manufacturing operations to Bora Pharmaceuticals. Gilead's Q2 2026 revenue rose 10% year-over-year to $7.8 billion, but it posted a net loss per share of $8.45 due to $11.2 billion in acquired in-process R&D expenses from acquisitions of Arcellx, Tubulis, and Ouro Medicines, while raising its full-year product sales guidance to $29.8 billion to $30.1 billion.

Bora Pharmaceuticals has completed its acquisition of MacroGenics' GMP manufacturing operations, including a biologics drug substance facility in Rockville, Maryland and an associated warehousing center in Frederick, Maryland, for total consideration of US $122.5 million. The transaction, executed through Bora's wholly owned subsidiary Bora Biologics USA, LLC, establishes a 20,000-liter single-use bioreactor drug substance manufacturing platform across two active US sites in Rockville and San Diego, California, along with a development facility in Zhubei, Taiwan. Upon closing, Bora signed a long-term CDMO Service Agreement with MacroGenics. Bora Biologics now supports more than four active commercial programs, has completed over 120 GMP batches, and supplies multiple global markets including the US, EU, Japan, Canada, and the UK. The combined platform has undergone five FDA inspections with clean results and one PMDA review in 2025, and has supported more than 33 biologics and 15 biosimilars.

MacroGenics will receive a $24.5 million regulatory milestone payment from Sanofi following the FDA's accelerated approval of TZIELD for children aged 8 to 17 with recently diagnosed stage 3 type 1 diabetes. TZIELD is a CD3-directed monoclonal antibody originally developed by MacroGenics and later licensed to a partner acquired by Sanofi. Under the agreement, MacroGenics retains rights to regulatory milestones and single-digit royalties on global sales. The company remains eligible for up to $305 million in additional milestone payments. MacroGenics stock closed Monday at $4.58, up 10.9 percent, and rose further in pre-market trading.