AP NEWS
Click to copy
Click to copy

MacroGenics: 2Q Earnings Snapshot

July 31, 2019

ROCKVILLE, Md. (AP) _ MacroGenics Inc. (MGNX) on Wednesday reported a loss of $31.8 million in its second quarter.

The Rockville, Maryland-based company said it had a loss of 65 cents per share.

The results topped Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for a loss of 96 cents per share.

The biopharmaceutical company posted revenue of $10.6 million in the period, which missed Street forecasts. Five analysts surveyed by Zacks expected $17.6 million.

MacroGenics shares have climbed 13% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $14.39, a fall of 30% in the last 12 months.

_____

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

All contents © copyright 2019 The Associated Press. All rights reserved.