MGNX - MacroGenics announces development milestone achieved in retifanlimab collaboration with Incyte

MacroGenics (MGNX) announced a $15M milestone payment has been triggered under its exclusive global collaboration and license agreement with Incyte for retifanlimab ((MGA012)).The milestone was triggered by the initiation of the Phase 3 POD1UM-304 clinical trial, evaluating the efficacy and safety of retifanlimab with platinum-based chemotherapy in patients with metastatic squamous and non-squamous non-small cell lung cancer.Under the collaboration agreement with Incyte, the company is eligible to receive up to a total of $390M in potential remaining development and regulatory milestones and up to $330M in potential commercial milestones. If retifanlimab is approved and commercialized, MacroGenics would be eligible to receive royalties, tiered from 15 to 24 percent, on future worldwide net sales of the molecule. /

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MacroGenics announces development milestone achieved in retifanlimab collaboration with Incyte