MGNX - MacroGenics Inc. (MGNX) Q4 2023 Earnings Call Transcript

2024-03-07 23:30:29 ET

MacroGenics, Inc. (MGNX)

Q4 2023 Earnings Conference Call

March 07, 2024, 04:30 PM ET

Company Participants

Jim Karrels - Senior Vice President and Chief Financial Officer

Scott Koenig - President and Chief Executive Officer

Conference Call Participants

Jonathan Chang - Leerink Partners

Kelsey Goodwin - Guggenheim

Stephen Willey - Stifel

Etzer Darout - BMO Capital Markets

Yigal Nochomovitz - Citigroup

John Miller - Evercore

Kaveri Pohlman - BTIG

Tara Bancroft - TD Cowen

Pete Lawson - Barclays

Silvan Tuerkcan - Citizens JMP

Presentation

Operator

Good afternoon. We will begin the MacroGenics 2023 Fourth Quarter Corporate Progress and Financial Results Conference Call in just a moment. [Operator Instructions] At this point, I will turn the call over to Jim Karrels, Senior Vice President, Chief Financial Officer of MacroGenics.

Jim Karrels

Thank you, operator. Good afternoon, and welcome to MacroGenics' conference call to discuss our fourth quarter 2023 financial and operational results. For anyone who has not had the chance to review these results, we issued a press release this afternoon outlining today's announcements. This release is available under the Investors tab on our website at macrogenics.com. You may also listen to this conference call via webcast on our website, where it will be archived for 30 days beginning approximately 2 hours after the call is completed.

I would like to alert listeners that today's discussion will include statements about the company's future expectations, plans and prospects that constitute forward-looking statements for purposes of the safe harbor provision under the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those indicated by these forward-looking statements as a result of various important factors, including those discussed in the Risk Factors section of our annual, quarterly and current reports filed with the SEC. In addition, any forward-looking statements represent our views only as of today and should not be relied upon as representing our views as of any subsequent date. While we may elect to update these forward-looking statements at some point in the future, we specifically disclaim any obligation to do so, even if reviews change, except to the extent required by applicable law.

And now I'd like to turn the call over to Dr. Scott Koenig, President and Chief Executive Officer of MacroGenics.

Scott Koenig

Thank you, Jim. I'd like to welcome everyone participating via conference call and webcast today. I will provide key updates on our clinical programs this afternoon. But before I do so, let me first turn the call back to Jim, who will review our financial results.

Jim Karrels

Thank you, Scott. This afternoon, MacroGenics reported financial results for the year ended December 31, 2023, which highlight our financial position. As described in the release this afternoon, MacroGenics total revenue was $58.7 million for the year ended December 31, 2023, compared to total revenue of $151.9 million for the year ended December 31, 2022....

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