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Here's Why MacroGenics Stock Is Skyrocketing 171% Today

Todd Campbell, The Motley Fool
·2-min read
Here's Why MacroGenics Stock Is Skyrocketing 171% Today

After MacroGenics (NASDAQ: MGNX) updated investors on its clinical-stage drug pipeline and current financial position, its shares are soaring 171% as of 12:45 am EDT Wednesday. After the market's closing bell on Tuesday, the biotech company's management said it remains on track to report final overall survival (OS) data for the phase 3 SOPHIA study of margetuximab in HER2-positive metastatic breast cancer this year. If the data is solid, MacroGenics believes it could get a Food and Drug Administration decision as soon as December 2020.

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