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MacroGenics: 1Q Earnings Snapshot

Associated Press
Updated ·1-min read

ROCKVILLE, Md. (AP) _ MacroGenics Inc. (MGNX) on Tuesday reported a loss of $44.7 million in its first quarter.

The Rockville, Maryland-based company said it had a loss of 91 cents per share.

The results topped Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for a loss of $1.01 per share.

The biopharmaceutical company posted revenue of $13.7 million in the period, also exceeding Street forecasts. Three analysts surveyed by Zacks expected $7.4 million.

MacroGenics shares have decreased 30% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $7.60, a fall of 59% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on MGNX at https://www.zacks.com/ap/MGNX