ROCKVILLE, MD, Feb. 12, 2019 (GLOBE NEWSWIRE) -- MacroGenics, Inc. (Nasdaq: MGNX), a clinical-stage biopharmaceutical company focused on discovering and developing innovative monoclonal antibody-based therapeutics for the treatment of cancer, today announced the pricing of an underwritten public offering of 5,500,000 shares of its common stock at a public offering price of $20.00 per share, before underwriting discounts and commissions. In addition, MacroGenics has granted the underwriters a 30-day option to purchase up to an additional 825,000 shares of common stock at the public offering price, less underwriting discounts and commissions.
SVB Leerink, Evercore ISI, Credit Suisse and Stifel are acting as joint book-running managers of the proposed offering. Nomura, SunTrust Robinson Humphrey and BTIG are acting as lead managers and H.C. Wainwright & Co. is acting as co-manager. The offering is expected to close on or about February 15, 2019, subject to customary closing conditions.
MacroGenics anticipates the total gross proceeds from the offering (before deducting underwriters’ discounts and commissions and estimated offering expenses) will be approximately $110 million, excluding any exercise of the underwriters’ option to purchase additional shares. MacroGenics intends to use the proceeds of this offering, together with its existing cash, cash equivalents and marketable securities, for general corporate purposes and working capital needs consistent with MacroGenics’ business plan which would include, but would not be limited to: (i) potential funding of activities in preparation for the potential regulatory approval and marketing of margetuximab in the U.S.; (ii) potential late-stage development of enoblituzumab for the treatment of B7-H3 positive cancers, potentially including squamous cell carcinoma of the head and neck, non-small cell lung cancer, and others; (iii) potential development of margetuximab in combination with MGA012 for the treatment of gastric cancer; (iv) continued development of immune checkpoint-based DART® product candidates; (v) further investment in the development of current pipeline programs as they continue to mature; (vi) other research and development programs; and (vii) in-licensing or acquiring other products or technologies.
About MacroGenics, Inc.
MacroGenics is a clinical-stage biopharmaceutical company focused on discovering and developing innovative monoclonal antibody-based therapeutics for the treatment of cancer. The Company generates its pipeline of product candidates primarily from its proprietary suite of next-generation antibody-based technology platforms, which have applicability across broad therapeutic domains. MacroGenics, the MacroGenics logo and DART are trademarks or registered trademarks of MacroGenics, Inc.
