MacroGenics Receives $70 Mln Under ZYNYZ Royalty Agreement With Sagard, Stock Up In Pre-Market

(RTTNews) - MacroGenics, Inc. (MGNX), Tuesday announced an agreement with Sagard Healthcare Partners regarding a capped royalty interest on future global net sales of ZYNYZ or retifanlimab-dlwr, which is used for the treatment of adult patients with metastatic or recurrent locally advanced Merkel cell carcinoma.

ZYNYZ, a humanized monoclonal antibody targeting programmed death receptor-1, is developed by MacroGenics and licensed to Incyte under an exclusive global collaboration and license agreement in October 2017.

As per the recent royalty deal, MacroGenics will receive an upfront payment of $70 million for the sale of its royalty rights on global net sales of ZYNYZ.

The company further noted that as soon as Sagard's royalty payments reach a total of $140 million, MacroGenics will resume collecting all future royalties on global net sales.

The financial injection from this deal along with cash balance of $154.1 million as of March 31, 2025, and potential revenue sources is estimated to support the company's cash runway through the first half of 2027.

In the pre-market hours, MGNX is trading at $2, up 21.95 percent on the Nasdaq.