Faria Capital Management
Biotech, small-cap, micro-cap, long/short equity

MacroGenics: A Late-Stage Pipeline Review

MacroGenics (NASDAQ:MGNX) is one of the most well-capitalized small-cap biotechnology companies with an impressive list of partners. Their pipeline is diverse and includes bispecifics and immunotherapies, two classes of molecules that have been in the limelight a lot over the last few years.

(click to enlarge)

source: MacroGenics home page

A good chunk of MacroGenics' pipeline is preclinical. Since it typically takes at least 10 years to develop a new drug, a lot is riding on the success of the molecules currently in phase 1 and phase 2: margetuximab, teplizumab, and MGA271. When considering an investment in MGNX, it's worth taking a careful look at these near-term value drivers.


Margetuximab is an anti-HER2 antibody that has been...

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