MGNX MACROGENICS INC
Price Chart
Executive Summary
MacroGenics entered into a definitive agreement to sell its GMP manufacturing operations (CDMO business) to Bora Pharmaceuticals for a $122.5 million upfront cash payment, subject to customary closing adjustments and up to $5 million in contingent milestones. The transaction, expected to close in Q3 2026, provides non-dilutive capital to fund the company's R&D pipeline while retaining manufacturing access via a supply agreement.
Key Financial Metrics
Actionable Insight
The sale provides MacroGenics with significant non-dilutive capital to extend its cash runway and focus on its clinical pipeline. Monitor closing conditions (regulatory and landlord consents) and any updates on pipeline catalysts. The transaction removes a capital-intensive CDMO operation, improving operational focus and financial flexibility.
Key Facts
- Base purchase price of $122.5 million in cash at closing, subject to working capital and indebtedness adjustments.
- Up to $5 million in additional contingent payments based on manufacturing milestones through 2028.
- Transaction includes transfer of the Rockville, MD manufacturing facility (11,000L capacity) and Frederick, MD warehouse.
- Approximately 140 MacroGenics employees expected to be hired by Bora.
- Closing expected in the third quarter of 2026, subject to customary conditions including landlord consents and regulatory approvals.
- MacroGenics will enter into a manufacturing and supply agreement with Bora for clinical and commercial supply post-closing.
- Transaction approved by both companies' boards of directors.
Financial Impact
Upfront cash consideration of $122.5 million, equating to ~65% of MacroGenics' pre-announcement market cap of $188 million. Potential additional $5 million in contingent payments.
Risk Factors
- Risk that closing conditions (including required consents) may not be satisfied, delaying or preventing the transaction.
- Potential for lower-than-expected net proceeds after transaction fees and working capital adjustments.
- Contingent earnout may not be realized, capping additional upside at $5 million.
Market Snapshot
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001125345-26-000035 |
| Exhibit: exhibit991_pressrelease.htm | 0001125345-26-000035 |
| Document: mgnx-20260511.htm | 0001125345-26-000035 |
| Document: 0001125345-26-000035-index-headers.html | 0001125345-26-000035 |
| Document: 0001125345-26-000035-index.html | 0001125345-26-000035 |
| Document: 0001125345-26-000035.txt | 0001125345-26-000035 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
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Jun 12, 2026
2d ago
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Institutional Cluster
| $4.01 awaiting T+5 | awaiting T+5 | — | $3.96 (−1.25%) |
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Jun 11, 2026
3d ago
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Institutional Cluster
| $3.87 awaiting T+5 | awaiting T+5 | — | $3.96 (+2.33%) |
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May 13, 2026
4w ago
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8-K
| $4.16 $4.24 | ▲ +1.92% | ▲ +2.64% | $3.96 (−4.81%) |
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May 12, 2026
4w ago
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8-K
| $3.52 $4.35 | ▲ +23.58% | ▲ +23.50% | $3.96 (+12.50%) |
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May 11, 2026
4w ago
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Press Release
| $3.52 $4.35 | ▲ +23.58% | ▲ +23.50% | $3.96 (+12.50%) |
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Apr 8, 2026
9w ago
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8-K
| $3.44 $3.41 | ▼ −0.87% | ▼ −4.06% | $3.96 (+15.12%) |
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Apr 8, 2026
9w ago
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Press Release
| $3.44 $3.41 | ▼ −0.87% | ▼ −4.06% | $3.96 (+15.12%) |
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Apr 8, 2026
9w ago
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DEFA14A
| $3.44 $3.41 | ▼ −0.87% | ▼ −4.06% | $3.96 (+15.12%) |
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Feb 28, 2026
15w ago
|
Institutional Cluster
| $1.94 $2.36 | ▲ +21.65% | ▲ +22.86% | $3.96 (+104.12%) |
US Market Status
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