<SEC-DOCUMENT>0001140361-19-003314.txt : 20190215
<SEC-HEADER>0001140361-19-003314.hdr.sgml : 20190215
<ACCEPTANCE-DATETIME>20190215085540
ACCESSION NUMBER:		0001140361-19-003314
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		5
CONFORMED PERIOD OF REPORT:	20190212
ITEM INFORMATION:		Other Events
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20190215
DATE AS OF CHANGE:		20190215

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			MACROGENICS INC
		CENTRAL INDEX KEY:			0001125345
		STANDARD INDUSTRIAL CLASSIFICATION:	PHARMACEUTICAL PREPARATIONS [2834]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-36112
		FILM NUMBER:		19609952

	BUSINESS ADDRESS:	
		STREET 1:		9704 MEDICAL CENTER DRIVE
		CITY:			Rockville
		STATE:			MD
		ZIP:			20850
		BUSINESS PHONE:		301-251-5172

	MAIL ADDRESS:	
		STREET 1:		9704 MEDICAL CENTER DRIVE
		CITY:			ROCKVILLE
		STATE:			MD
		ZIP:			20850
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>s002661x3_8k.htm
<DESCRIPTION>FORM 8-K
<TEXT>
<html>
  <head>
    <title></title>
    <!-- Licensed to: Broadridge Finaicial Soultions, Inc.
         Document created using EDGARfilings PROfile 5.1.0.0
         Copyright 1995 - 2019 Broadridge -->
  </head>
<body style="font-family: &quot;Times New Roman&quot;; font-size: 10pt;" bgcolor="#ffffff" text="#000000">
  <div>
    <hr style="border: none; border-bottom: 1px solid black; border-top: 4px solid black; height: 10px; color: #ffffff; background-color: #ffffff; text-align: center; margin-left: auto; margin-right: auto;" align="center">
    <div>
      <div style="text-align: center; font-family: &quot;Times New Roman&quot;,Times,serif; font-size: 14pt; font-weight: bold;">UNITED STATES</div>
      <div style="text-align: center; font-size: 14pt;"><font style="font-family: &quot;Times New Roman&quot;,Times,serif; font-weight: bold;">SECURITIES AND EXCHANGE COMMISSION</font></div>
      <div style="text-align: center; font-size: 12pt;"><font style="font-family: &quot;Times New Roman&quot;,Times,serif; font-weight: bold;">Washington, D.C. 20549</font></div>
      <div><br>
      </div>
      <div style="text-align: center; font-size: 18pt;"><font style="font-family: &quot;Times New Roman&quot;,Times,serif; font-weight: bold;">FORM 8-K</font></div>
      <div><br>
      </div>
      <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">CURRENT REPORT</font></div>
      <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Pursuant to Section 13 or 15(d) of</font></div>
      <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">The Securities Exchange Act of 1934</font></div>
      <div><br>
      </div>
      <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Date of Report (Date of earliest event reported): February 12, 2019</font></div>
      <div><br>
      </div>
      <div style="text-align: center; font-size: 24pt;"><font style="font-family: &quot;Times New Roman&quot;,Times,serif; font-weight: bold;">MACROGENICS, INC.</font></div>
      <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-style: italic;">(Exact name of registrant as specified in its charter)</font></div>
      <div><br>
      </div>
      <table style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; border-collapse: collapse;" id="z549e2daac976457c90b1e70a951ecaf3" border="0" cellpadding="0" cellspacing="0">

          <tr>
            <td style="width: 33.33%; vertical-align: top; background-color: #FFFFFF;">
              <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Delaware</font></div>
            </td>
            <td style="width: 34%; vertical-align: top; background-color: rgb(255, 255, 255);">
              <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">001-36112</font></div>
            </td>
            <td style="width: 33.33%; vertical-align: top; background-color: #FFFFFF;">
              <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">06-1591613</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 33.33%; vertical-align: top; background-color: #FFFFFF;">
              <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-style: italic;">(State or other jurisdiction of incorporation)</font></div>
            </td>
            <td style="width: 34%; vertical-align: top; background-color: rgb(255, 255, 255);">
              <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-style: italic;">(Commission File Number)</font></div>
            </td>
            <td style="width: 33.33%; vertical-align: top; background-color: #FFFFFF;">
              <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-style: italic;">(IRS Employer Identification No.)</font></div>
            </td>
          </tr>

      </table>
      <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;"> </font><br>
      </div>
      <table style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; border-collapse: collapse;" id="z4ccdf7d518d048499fa33a9fae02186e" border="0" cellpadding="0" cellspacing="0">

          <tr>
            <td style="width: 49%; vertical-align: top; background-color: rgb(255, 255, 255);">
              <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">9704 Medical Center Drive</font></div>
              <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Rockville, Maryland</font></div>
            </td>
            <td style="width: 2%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
            <td style="width: 49%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">20850</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 49%; vertical-align: top; background-color: rgb(255, 255, 255);">
              <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-style: italic;">(Address of principal executive offices)</font></div>
            </td>
            <td style="width: 2%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
            <td style="width: 49%; vertical-align: top; background-color: rgb(255, 255, 255);">
              <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-style: italic;">(Zip Code)</font></div>
            </td>
          </tr>

      </table>
      <div><br>
      </div>
      <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Registrant<font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">&#8217;</font>s telephone number, including area code: <font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">(301) 251-5172</font></font></div>
      <div><br>
      </div>
      <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Not Applicable</font></div>
      <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-style: italic;">(Former name or former address, if changed since last report.)</font></div>
      <div><br>
      </div>
      <div style="text-align: justify;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under
          any of the following provisions (see General Instruction A.2. below):</font></div>
      <div><br>
      </div>
      <div style="text-align: justify;">
        <div>
          <table style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%;" class="DSPFListTable" id="z8f6b895cba5f473f995bfa954f5238ab" cellpadding="0" cellspacing="0">

              <tr>
                <td style="width: 13.5pt; vertical-align: top; align: right;">&#9744;</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</font></div>
                </td>
              </tr>

          </table>
        </div>
      </div>
      <div><br>
      </div>
      <div style="text-align: justify;">
        <div>
          <table style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%;" class="DSPFListTable" id="z1fe7d746fe5c423ba06be15a3fe15e05" cellpadding="0" cellspacing="0">

              <tr>
                <td style="width: 13.5pt; vertical-align: top; align: right;">&#9744;</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</font></div>
                </td>
              </tr>

          </table>
        </div>
      </div>
      <div><br>
      </div>
      <div style="text-align: justify;">
        <div>
          <table style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%;" class="DSPFListTable" id="z53527d8c668642aa8ec2027d3c6ce2d7" cellpadding="0" cellspacing="0">

              <tr>
                <td style="width: 13.5pt; vertical-align: top; align: right;">&#9744;</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</font></div>
                </td>
              </tr>

          </table>
        </div>
      </div>
      <div><br>
      </div>
      <div style="text-align: justify;">
        <div>
          <table style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%;" class="DSPFListTable" id="z5be84519853e4e32a525046a3961dbee" cellpadding="0" cellspacing="0">

              <tr>
                <td style="width: 13.5pt; vertical-align: top; align: right;">&#9744;</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</font></div>
                </td>
              </tr>

          </table>
        </div>
      </div>
      <div><br>
      </div>
      <div style="text-align: justify;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (<font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">&#167;</font>230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (<font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">&#167;</font>240.12b-2




          of this chapter).</font></div>
      <div><br>
      </div>
      <div style="text-align: justify;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Emerging growth company &#9744;</font></div>
      <div style="text-align: justify;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;"><font style="font-size: 10pt; font-family: 'Segoe UI Symbol', sans-serif;"> <br>
          </font></font></div>
      <div style="text-align: justify;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying
          with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. &#9744;</font></div>
      <div><br>
      </div>
      <div>
        <hr style="border: none; border-bottom: 4px solid black; border-top: 1px solid black; height: 10px; color: #ffffff; background-color: #ffffff; text-align: center; margin-left: auto; margin-right: auto;" align="center"></div>
      <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
        <div style="page-break-after:always;" id="DSPFPageBreak">
          <hr style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;" noshade="noshade"></div>
      </div>
      <div style="text-align: left;">
        <div>
          <table style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%;" class="DSPFListTable" id="zd43037b54380493ca670dc7792e26828" cellpadding="0" cellspacing="0">

              <tr>
                <td style="width: 45pt; vertical-align: top;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Item 8.01.</font></td>
                <td style="vertical-align: top; text-align: left;">
                  <div><font style="font-size: 10pt; font-family: &quot;Times New Roman&quot;,Times,serif; font-weight: bold;">Other Events.</font></div>
                </td>
              </tr>

          </table>
        </div>
      </div>
      <div><br>
      </div>
      <div style="text-align: left; text-indent: 18pt;"><font style="font-size: 10pt; font-family: &quot;Times New Roman&quot;,Times,serif;">On February 12, 2019, MacroGenics, Inc. (the <font style="font-size: 10pt; font-family: &quot;Times New
            Roman&quot;,Times,serif;">&#8220;</font>Company<font style="font-size: 10pt; font-family: &quot;Times New Roman&quot;,Times,serif;">&#8221;</font>) entered into an underwriting agreement (the <font style="font-size: 10pt; font-family: &quot;Times New
            Roman&quot;,Times,serif;">&#8220;</font>Underwriting Agreement<font style="font-size: 10pt; font-family: &quot;Times New Roman&quot;,Times,serif;">&#8221;</font>) with SVB Leerink LLC and Evercore Group L.L.C., as representatives of the several
          underwriters named therein (collectively, the <font style="font-size: 10pt; font-family: &quot;Times New Roman&quot;,Times,serif;">&#8220;</font>Underwriters<font style="font-size: 10pt; font-family: &quot;Times New Roman&quot;,Times,serif;">&#8221;</font>)
          relating to the offer, issuance and sale (the <font style="font-size: 10pt; font-family: &quot;Times New Roman&quot;,Times,serif;">&#8220;</font>Offering<font style="font-size: 10pt; font-family: &quot;Times New Roman&quot;,Times,serif;">&#8221;</font>) of
          5,500,000 shares of the Company<font style="font-size: 10pt; font-family: &quot;Times New Roman&quot;,Times,serif;">&#8217;</font>s common stock, $0.01 par value per share (the <font style="font-size: 10pt; font-family: &quot;Times New
            Roman&quot;,Times,serif;">&#8220;</font>Common Stock<font style="font-size: 10pt; font-family: &quot;Times New Roman&quot;,Times,serif;">&#8221;</font>), at a price to the public of $20.00 per share. Pursuant to the Underwriting Agreement, the Company
          granted the Underwriters a 30-day option to purchase up to an additional 825,000 shares of Common Stock, which the Underwriters exercised in full on February 13, 2019. The Offering is expected to close on February 15, 2019. The net proceeds to
          the Company from the Offering are expected to be approximately $118.5 million, after deducting underwriting discounts and commissions and estimated offering expenses.</font></div>
      <div><br>
      </div>
      <div style="text-align: left; text-indent: 18pt;"><font style="font-size: 10pt; font-family: &quot;Times New Roman&quot;,Times,serif;">The Offering was made pursuant to the Company<font style="font-size: 10pt; font-family: &quot;Times New
            Roman&quot;,Times,serif;">&#8217;</font>s effective shelf registration statement on Form S-3 (File No. 333-214385) and a related prospectus supplement and an accompanying prospectus, in each case filed with the Securities and Exchange Commission.</font></div>
      <div><br>
      </div>
      <div style="text-align: left; text-indent: 18pt;"><font style="font-size: 10pt; font-family: &quot;Times New Roman&quot;,Times,serif;">The Underwriting Agreement contains customary representations, warranties and agreements by the Company, conditions
          to closing, indemnification obligations of the Company and the Underwriters, including for liabilities under the Securities Act of 1933, as amended, and termination provisions. The representations, warranties and covenants contained in the
          Underwriting Agreement were made only for purposes of such agreement and as of specific dates, were solely for the benefit of the parties to such agreement, and may be subject to limitations agreed upon by the contracting parties. The
          Underwriting Agreement is not intended to provide any other factual information about the Company.</font></div>
      <div><br>
      </div>
      <div style="text-align: left; text-indent: 18pt;"><font style="font-size: 10pt; font-family: &quot;Times New Roman&quot;,Times,serif;">The Underwriting Agreement is filed as Exhibit 1.1 hereto and is incorporated herein by reference. The foregoing
          description of the terms of the Underwriting Agreement is qualified in its entirety by reference to the Underwriting Agreement. A copy of the legal opinion of Covington &amp; Burling LLP relating to the legality of the issuance and sale of the
          Common Stock in the Offering is filed herewith as Exhibit 5.1.</font></div>
      <div><br>
      </div>
      <div style="text-align: left;">
        <div>
          <table style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%;" class="DSPFListTable" id="z1fa53adf1e194bce9495b62d2644eaca" cellpadding="0" cellspacing="0">

              <tr>
                <td style="width: 45pt; vertical-align: top;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Item 9.01</font></td>
                <td style="width: auto; vertical-align: top; text-align: left;">
                  <div><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Financial Statements and Exhibits.</font></div>
                </td>
              </tr>

          </table>
        </div>
      </div>
      <div><br>
      </div>
      <div>
        <table class="DSPFListTable" id="z0d9a628f93a44db399bcba0f8a45df54" style="width: 100%; font-family: 'Times New Roman'; font-size: 10pt;" cellpadding="0" cellspacing="0">

            <tr style="vertical-align: top;">
              <td style="width: 18pt;">&#160;</td>
              <td style="vertical-align: top; width: 18pt;">
                <div style="text-align: justify;"><font style="font-size: 10pt; font-family: 'Times New Roman',Times,serif;">(d)</font></div>
              </td>
              <td style="align: left; vertical-align: top; width: auto;">
                <div style="text-align: justify;"><font style="font-size: 10pt; font-family: 'Times New Roman',Times,serif;">Exhibits.</font></div>
              </td>
            </tr>

        </table>
      </div>
      <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;"> </font><br>
      </div>
      <table style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; width: 100%; border-collapse: collapse;" id="z3c7629f30d2d4f25854728e336d013c4" border="0" cellpadding="0" cellspacing="0">

          <tr>
            <td style="width: 8%; vertical-align: top; background-color: rgb(255, 255, 255); border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center;"><font style="font-size: 10pt; font-family: &quot;Times New Roman&quot;,Times,serif; font-weight: bold;">Exhibit</font></div>
              <div style="text-align: center;"><font style="font-size: 10pt; font-family: &quot;Times New Roman&quot;,Times,serif; font-weight: bold;">No.</font></div>
            </td>
            <td style="width: 2%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
            <td style="width: 90%; vertical-align: bottom; background-color: rgb(255, 255, 255); border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: &quot;Times New Roman&quot;,Times,serif; font-weight: bold;">Description</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 8%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
            <td style="width: 2%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
            <td style="width: 90%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
          </tr>
          <tr>
            <td style="width: 8%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="text-align: left;"><a href="s002661x3_ex1-1.htm"><font style="font-size: 10pt; font-family: &quot;Times New Roman&quot;,Times,serif;"><font style="font-size: 10pt; font-family: &quot;Times New
                      Roman&quot;,Times,serif;">1.1</font></font></a></div>
            </td>
            <td style="width: 2%; vertical-align: top; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 90%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: &quot;Times New Roman&quot;,Times,serif;">Underwriting Agreement, dated February 12, 2019, by and among MacroGenics, Inc. and SVB Leerink LLC and Evercore Group L.L.C.,
                  as representatives of the Underwriters.</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 8%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
            <td style="width: 2%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
            <td style="width: 90%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
          </tr>
          <tr>
            <td style="width: 8%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="text-align: left;"><a href="s002661x3_ex5-1.htm"><font style="font-size: 10pt; font-family: &quot;Times New Roman&quot;,Times,serif;"><font style="font-size: 10pt; font-family: &quot;Times New
                      Roman&quot;,Times,serif;">5.1</font></font></a></div>
            </td>
            <td style="width: 2%; vertical-align: top; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 90%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: &quot;Times New Roman&quot;,Times,serif;">Opinion of Covington &amp; Burling LLP.</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 8%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
            <td style="width: 2%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
            <td style="width: 90%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
          </tr>
          <tr>
            <td style="width: 8%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="text-align: left;"><a href="s002661x3_ex5-1.htm"><font style="font-size: 10pt; font-family: &quot;Times New Roman&quot;,Times,serif;"><font style="font-size: 10pt; font-family: &quot;Times New
                      Roman&quot;,Times,serif;">23.1</font></font></a></div>
            </td>
            <td style="width: 2%; vertical-align: top; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 90%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: &quot;Times New Roman&quot;,Times,serif;">Consent of Covington &amp; Burling LLP (included in Exhibit 5.1).</font></div>
            </td>
          </tr>

      </table>
      <div><br>
      </div>
      <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
        <div style="page-break-after:always;" id="DSPFPageBreak">
          <hr style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;" noshade="noshade"></div>
      </div>
      <div style="text-align: center;"><font style="font-size: 10pt; font-family: &quot;Times New Roman&quot;,Times,serif; font-weight: bold;">SIGNATURES</font></div>
      <div><br>
      </div>
      <div style="text-align: justify; text-indent: 18pt;"><font style="font-size: 10pt; font-family: &quot;Times New Roman&quot;,Times,serif;">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report
          to be signed on its behalf by the undersigned hereunto duly authorized.</font></div>
      <div><br>
      </div>
      <table style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; width: 100%; border-collapse: collapse;" id="z2709ff5dfab4480eb809ec9981a05cdd" border="0" cellpadding="0" cellspacing="0">

          <tr>
            <td style="width: 49.74%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
            <td colspan="2" style="vertical-align: top; background-color: rgb(255, 255, 255);">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: &quot;Times New Roman&quot;,Times,serif; font-weight: bold;">MACROGENICS, INC.</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 49.74%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
            <td colspan="2" style="vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
          </tr>
          <tr>
            <td style="width: 49.74%; vertical-align: top; background-color: rgb(255, 255, 255);">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: &quot;Times New Roman&quot;,Times,serif;">Dated: February 15, 2019</font></div>
            </td>
            <td style="width: 5%; vertical-align: top; background-color: rgb(255, 255, 255);">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: &quot;Times New Roman&quot;,Times,serif;">By:</font></div>
            </td>
            <td style="width: 45%; vertical-align: top; background-color: rgb(255, 255, 255); border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: &quot;Times New Roman&quot;,Times,serif;">/s/ Jeffrey Peters</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 49.74%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
            <td style="width: 5%; vertical-align: top; background-color: rgb(255, 255, 255);">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: &quot;Times New Roman&quot;,Times,serif;">Name:</font></div>
            </td>
            <td style="width: 45%; vertical-align: top; background-color: rgb(255, 255, 255);">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: &quot;Times New Roman&quot;,Times,serif;">Jeffrey Peters</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 49.74%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
            <td style="width: 5%; vertical-align: top; background-color: rgb(255, 255, 255);">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: &quot;Times New Roman&quot;,Times,serif;">Title:</font></div>
            </td>
            <td style="width: 45%; vertical-align: top; background-color: rgb(255, 255, 255);">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: &quot;Times New Roman&quot;,Times,serif;">Vice President and General Counsel</font></div>
            </td>
          </tr>

      </table>
      <div><br>
      </div>
      <div><br>
      </div>
      <div>
        <hr style="height: 2px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;" align="center" noshade="noshade"></div>
    </div>
  </div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-1.1
<SEQUENCE>2
<FILENAME>s002661x3_ex1-1.htm
<DESCRIPTION>EXHIBIT 1.1
<TEXT>
<html>
  <head>
    <title></title>
    <!-- Licensed to: Broadridge Finaicial Soultions, Inc.
         Document created using EDGARfilings PROfile 5.1.0.0
         Copyright 1995 - 2019 Broadridge -->
  </head>
<body style="font-family: &quot;Times New Roman&quot;; font-size: 10pt;" bgcolor="#ffffff" text="#000000">
  <div>
    <hr style="height: 4px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;" align="center" noshade="noshade">
    <div>
      <div style="text-align: right; font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;"> Exhibit 1.1</div>
      <div style="text-align: right;"><font style="font-size: 10pt; font-family: 'Times New Roman'; font-weight: bold;"> <br>
        </font></div>
      <div style="text-align: right;"><font style="font-size: 10pt; font-family: 'Times New Roman'; font-weight: bold;">EXECUTION VERSION</font></div>
      <div><br>
      </div>
      <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman'; font-weight: bold;">MACROGENICS, INC.</font></div>
      <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman'; font-weight: bold;"> <br>
        </font></div>
      <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman'; font-weight: bold;">COMMON STOCK, PAR VALUE $0.01 PER SHARE</font></div>
      <div><br>
      </div>
      <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman'; font-weight: bold;">UNDERWRITING AGREEMENT</font></div>
      <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">February 12, 2019</font></div>
      <div><br>
      </div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div id="DSPFPageBreak" style="page-break-after:always;">
          <hr style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;" noshade="noshade"></div>
      </div>
      <div style="text-align: right;"><font style="font-size: 10pt; font-family: 'Times New Roman';">February 12, 2019</font></div>
      <div><br>
      </div>
      <div style="text-align: left; text-indent: -18pt; margin-left: 18pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">To the Managers named in Schedule I hereto</font></div>
      <div style="text-align: left; text-indent: -9pt; margin-left: 27pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">for the Underwriters named in Schedule II hereto</font></div>
      <div><br>
      </div>
      <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">Ladies and Gentlemen:</font></div>
      <div><br>
      </div>
      <div style="text-align: left; text-indent: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">MacroGenics, Inc., a Delaware corporation (the &#8220;<font style="font-size: 10pt; font-family: 'Times New Roman'; font-weight: bold;">Company</font>&#8221;),



          proposes to issue and sell to the several underwriters named in Schedule II hereto (the &#8220;<font style="font-size: 10pt; font-family: 'Times New Roman'; font-weight: bold;">Underwriters</font>&#8221;), for whom you are acting as managers (the &#8220;<font style="font-size: 10pt; font-family: 'Times New Roman'; font-weight: bold;">Managers</font>&#8221;), the number of shares of its common stock, par value $0.01 per share, set forth in Schedule I hereto (the &#8220;<font style="font-size: 10pt; font-family:
            'Times New Roman'; font-weight: bold;">Firm Shares</font>&#8221;).&#160; The Company also proposes to issue and sell to the several Underwriters not more than the number of additional shares of its common stock, par value $0.01 per share, set forth in
          Schedule I hereto (the &#8220;<font style="font-size: 10pt; font-family: 'Times New Roman'; font-weight: bold;">Additional Shares</font>&#8221;) if and to the extent that you, as Managers of the offering, shall have determined to exercise, on behalf of the
          Underwriters, the right to purchase such shares of common stock granted to the Underwriters in Section 2 hereof.&#160; The Firm Shares and the Additional Shares are hereinafter collectively referred to as the &#8220;<font style="font-size: 10pt;
            font-family: 'Times New Roman'; font-weight: bold;">Shares.</font>&#8221;&#160; The shares of common stock, par value $0.01 per share, of the Company to be outstanding after giving effect to the sales contemplated hereby are hereinafter referred to as the
          &#8220;<font style="font-size: 10pt; font-family: 'Times New Roman'; font-weight: bold;">Common Stock</font>.&#8221;&#160; If the firm or firms listed in Schedule II hereto include only the Managers listed in Schedule I hereto, then the terms &#8220;Underwriters&#8221; and
          &#8220;Managers&#8221; as used herein shall each be deemed to refer to such firm or firms.</font></div>
      <div><br>
      </div>
      <div style="text-align: left; text-indent: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">The Company has filed with the Securities and Exchange Commission (the &#8220;<font style="font-size: 10pt; font-family: 'Times New Roman';
            font-weight: bold;">Commission</font>&#8221;) a registration statement, including a prospectus, (the file number of which is set forth in Schedule I hereto) on Form S-3, relating to various securities (the &#8220;<font style="font-size: 10pt; font-family:
            'Times New Roman'; font-weight: bold;">Shelf Securities</font>&#8221;), including the Shares, to be issued from time to time by the Company.&#160; The registration statement as amended to the date of this Agreement, including the information (if any)
          deemed to be part of the registration statement at the time of effectiveness pursuant to Rule 430A or Rule 430B under the Securities Act of 1933, as amended (the &#8220;<font style="font-size: 10pt; font-family: 'Times New Roman'; font-weight: bold;">Securities



            Act</font>&#8221;), is hereinafter referred to as the &#8220;<font style="font-size: 10pt; font-family: 'Times New Roman'; font-weight: bold;">Registration Statement</font>&#8221;, and the related prospectus covering the Shelf Securities dated November 2, 2016
          in the form first used to confirm sales of the Shares (or in the form first made available to the Underwriters by the Company to meet requests of purchasers pursuant to Rule 173 under the Securities Act) is hereinafter referred to as the &#8220;<font style="font-size: 10pt; font-family: 'Times New Roman'; font-weight: bold;">Basic Prospectus</font>.&#8221;&#160; The Basic Prospectus, as supplemented by the prospectus supplement specifically relating to the Shares in the form first used to confirm
          sales of the Shares (or in the form first made available to the Underwriters by the Company to meet requests of purchasers pursuant to Rule 173 under the Securities Act) is hereinafter referred to as the &#8220;<font style="font-size: 10pt;
            font-family: 'Times New Roman'; font-weight: bold;">Prospectus</font>,&#8221; and the term &#8220;<font style="font-size: 10pt; font-family: 'Times New Roman'; font-weight: bold;">preliminary prospectus</font>&#8221; means any preliminary form of the
          Prospectus.&#160; For purposes of this Agreement, &#8220;<font style="font-size: 10pt; font-family: 'Times New Roman'; font-weight: bold;">free writing prospectus</font>&#8221; has the meaning set forth in Rule 405 under the Securities Act, &#8220;<font style="font-size: 10pt; font-family: 'Times New Roman'; font-weight: bold;">Time of Sale Prospectus</font>&#8221; means the documents and pricing information set forth opposite the caption &#8220;Time of Sale Prospectus&#8221; in Schedule I hereto, and &#8220;<font style="font-size: 10pt; font-family: 'Times New Roman'; font-weight: bold;">broadly available road show</font>&#8221; means a &#8220;bona fide electronic road show&#8221; as defined in Rule 433(h)(5) under the Securities Act that has been made available without
          restriction to any person.&#160; As used herein, the terms &#8220;Registration Statement,&#8221; &#8220;Basic Prospectus,&#8221; &#8220;preliminary prospectus,&#8221; &#8220;Time of Sale Prospectus&#8221; and &#8220;Prospectus&#8221; shall include the documents, if any, incorporated by reference therein as of
          the date hereof.&#160; The terms &#8220;<font style="font-size: 10pt; font-family: 'Times New Roman'; font-weight: bold;">supplement</font>,&#8221; &#8220;<font style="font-size: 10pt; font-family: 'Times New Roman'; font-weight: bold;">amendment</font>,&#8221; and &#8220;<font style="font-size: 10pt; font-family: 'Times New Roman'; font-weight: bold;">amend</font>&#8221; as used herein with respect to the Registration Statement, the Basic Prospectus, the Time of Sale Prospectus, any preliminary prospectus or the Prospectus
          shall include all documents subsequently filed by the Company with the Commission pursuant to the Securities Exchange Act of 1934, as amended (the &#8220;<font style="font-size: 10pt; font-family: 'Times New Roman'; font-weight: bold;">Exchange Act</font>&#8221;),



          that are deemed to be incorporated by reference therein.</font></div>
      <div><br>
      </div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div id="DSPFPageBreak" style="page-break-after:always;">
          <hr style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;" noshade="noshade"></div>
      </div>
      <!--PROfilePageNumberReset%Num%2%%%-->
      <div style="text-align: left; text-indent: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">1.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#160;&#160; <font style="font-size: 10pt; font-family: 'Times New Roman';"><font style="font-size: 10pt; font-style: italic;">Representations


            and Warranties</font>.&#160; The Company represents and warrants to and agrees with each of the Underwriters that:</font></div>
      <div><br>
      </div>
      <div style="text-align: left; text-indent: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">(a)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-size: 10pt; font-family: 'Times New Roman';">The Registration Statement has become effective; no
          stop order suspending the effectiveness of the Registration Statement is in effect, and no proceedings for such purpose are pending before or, to the knowledge of the Company. threatened by the Commission.&#160; If the Registration Statement is an
          automatic shelf registration statement as defined in Rule 405 under the Securities Act, the Company is a well-known seasoned issuer (as defined in Rule 405 under the Securities Act) eligible to use the Registration Statement as an automatic shelf
          registration statement and the Company has not received notice that the Commission objects to the use of the Registration Statement as an automatic shelf registration statement.</font></div>
      <div><br>
      </div>
      <div style="text-align: left; text-indent: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">(b)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (<font style="font-size: 10pt; font-family: 'Times New Roman';">i) Each document, if any, filed or to be filed
          pursuant to the Exchange Act and incorporated by reference in the Time of Sale Prospectus or the Prospectus complied or will comply when so filed in all material respects with the Exchange Act and the applicable rules and regulations of the
          Commission thereunder, (ii) each part of the Registration Statement, when such part became effective, did not contain, and each such part, as amended or supplemented, if applicable, will not contain any untrue statement of a material fact or omit
          to state a material fact required to be stated therein or necessary to make the statements therein not misleading, (iii) the Registration Statement as of the date hereof does not contain any untrue statement of a material fact or omit to state a
          material fact required to be stated therein or necessary to make the statements therein not misleading, (iv) the Registration Statement and the Prospectus comply, and as amended or supplemented, if applicable, will comply in all material respects
          with the Securities Act and the applicable rules and regulations of the Commission thereunder, (v) the Time of Sale Prospectus does not, and at the time of each sale of the Shares in connection with the offering when the Prospectus is not yet
          available to prospective purchasers and at the Closing Date (as defined in Section 4), the Time of Sale Prospectus, as then amended or supplemented by the Company, if applicable, will not, contain any untrue statement of a material fact or omit
          to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading, (vi) each broadly available road show, if any, when considered together with the Time of Sale
          Prospectus, does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading and (vii) the Prospectus
          does not contain and, as amended or supplemented, if applicable, will not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances under which
          they were made, not misleading, except that the representations and warranties set forth in this paragraph do not apply to statements or omissions in the Registration Statement, the Time of Sale Prospectus or the Prospectus based upon information
          relating to any Underwriter furnished to the Company in writing by such Underwriter through the Managers expressly for use therein.&#160; For purposes of this Agreement, the only information so furnished shall be the information in the <font style="font-size: 10pt; font-family: 'Times New Roman';">first sentence under the caption &#8220;Underwriting&#8213;Commissions and Discounts,&#8221; the information under the caption &#8220;Underwriting&#8213;Price Stabilization, Short Positions and Penalty Bids&#8221; and the
            information under the caption &#8220;Underwriting&#8213;Electronic Distribution,&#8221; in each case contained</font> in the Time of Sale Information and the Prospectus (collectively, the &#8220;Underwriter Information&#8221;).</font></div>
      <div><br>
      </div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">2</font></div>
        <div id="DSPFPageBreak" style="page-break-after:always;">
          <hr style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;" noshade="noshade"></div>
      </div>
      <div style="text-align: left; text-indent: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">(c)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 10pt; font-family: 'Times New Roman';">The Company is not an &#8220;ineligible issuer&#8221; in
          connection with the offering pursuant to Rules 164, 405 and 433 under the Securities Act.&#160; Any free writing prospectus that the Company is required to file pursuant to Rule 433(d) under the Securities Act has been, or will be, filed with the
          Commission in accordance with the requirements of the Securities Act and the applicable rules and regulations of the Commission thereunder.&#160; Each free writing prospectus that the Company has filed, or is required to file, pursuant to Rule 433(d)
          under the Securities Act or that was prepared by or on behalf of or used or referred to by the Company complies or will comply in all material respects with the requirements of the Securities Act and the applicable rules and regulations of the
          Commission thereunder.&#160; Except for the free writing prospectuses, if any, identified in Schedule I hereto forming part of the Time of Sale Prospectus, and electronic road shows, if any, each furnished to you before first use, the Company has not
          prepared, used or referred to, and will not, without prior consent from any Manager, prepare, use or refer to, any free writing prospectus.</font></div>
      <div><br>
      </div>
      <div style="text-align: left; text-indent: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">(d)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 10pt; font-family: 'Times New Roman';">(A) At the original effectiveness of the Registration
          Statement, (B) at the time of the most recent amendment thereto for the purposes of complying with Section 10(a)(3) of the Securities Act (whether such amendment was by post-effective amendment, incorporated report filed pursuant to Section 13 or
          15(d) of the Exchange Act or form of prospectus), (C) at the time the Company or any person acting on its behalf (within the meaning, for this clause only, of Rule 163(c) under the Securities Act) made any offer relating to the Shares in reliance
          on the exemption of Rule 163 under the Securities Act, and (D) at the time of each sale of the Shares in connection with the offering when the Prospectus was not yet available to prospective purchasers, the Company was and is a &#8220;well-known
          seasoned issuer&#8221; (as defined in Rule 405).</font></div>
      <div><br>
      </div>
      <div style="text-align: left; text-indent: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">(e)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 10pt; font-family: 'Times New Roman';">RESERVED.</font></div>
      <div><br>
      </div>
      <div style="text-align: left; text-indent: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">(f)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 10pt; font-family: 'Times New Roman';">To the Company&#8217;s knowledge, the accountants who
          certified the financial statements and supporting schedules included in the Registration Statement, the Time of Sale Prospectus and the Prospectus are independent public accountants with respect to the Company as required by the Securities Act,
          the applicable rules and regulations of the Commission thereunder and the Public Accounting Oversight Board.</font></div>
      <div><br>
      </div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">3</font></div>
        <div id="DSPFPageBreak" style="page-break-after:always;">
          <hr style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;" noshade="noshade"></div>
      </div>
      <div style="text-align: left; text-indent: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">(g)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 10pt; font-family: 'Times New Roman';">The financial statements included in the Registration
          Statement, the Time of Sale Prospectus and the Prospectus, together with the related schedules and notes, present fairly in all material respects the financial position of the Company and its consolidated subsidiaries at the dates indicated and
          the statement of operations, stockholders&#8217; equity and cash flows of the Company and its consolidated subsidiaries for the periods specified; said financial statements have been prepared in conformity with U.S. generally accepted accounting
          principles (&#8220;<font style="font-size: 10pt; font-family: 'Times New Roman'; font-weight: bold;">GAAP</font>&#8221;) applied on a consistent basis throughout the periods involved.&#160; The supporting schedules included in the Registration Statement, the Time
          of Sale Prospectus and the Prospectus, if any, present fairly in accordance with GAAP the information required to be stated therein.&#160; Except as included therein, no historical or pro forma financial statements or supporting schedules are required
          to be included or incorporated by reference in the Registration Statement, the Time of Sale Prospectus or the Prospectus under the Securities Act or the applicable rules and regulations of the Commission thereunder.</font></div>
      <div><br>
      </div>
      <div style="text-align: left; text-indent: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">(h)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 10pt; font-family: 'Times New Roman';">Except as otherwise stated therein, since the
          respective dates as of which information is given in the Registration Statement, the Time of Sale Prospectus or the Prospectus, (A) there has been no material adverse change in the condition, financial or otherwise, or in the earnings, business
          affairs or business prospects of the Company and its subsidiaries considered as one enterprise, whether or not arising in the ordinary course of business (a &#8220;<font style="font-size: 10pt; font-family: 'Times New Roman'; font-weight: bold;">Material



            Adverse Effect</font>&#8221;), (B) there have been no transactions entered into by the Company or any of its subsidiaries, other than those in the ordinary course of business, which are material with respect to the Company and its subsidiaries
          considered as one enterprise, and (C) there has been no dividend or distribution of any kind declared, paid or made by the Company on any class of its capital stock.</font></div>
      <div><br>
      </div>
      <div style="text-align: left; text-indent: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">(i)</font>&#160; &#160; &#160;&#160;&#160;&#160;&#160;&#160; <font style="font-size: 10pt; font-family: 'Times New Roman';">The Company has been duly organized and is validly
          existing as a corporation in good standing under the laws of the State of Delaware and has corporate power and authority to own, lease and operate its properties and to conduct its business as described in the Registration Statement, the Time of
          Sale Prospectus and the Prospectus and to enter into and perform its obligations under this Agreement; and the Company is duly qualified as a foreign corporation to transact business and is in good standing in each other jurisdiction in which
          such qualification is required, whether by reason of the ownership or leasing of property or the conduct of business, except where the failure so to qualify or to be in good standing would not result in a Material Adverse Effect.</font></div>
      <div><br>
      </div>
      <div style="text-align: left; text-indent: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">(j)</font>&#160;&#160;&#160;&#160;&#160; &#160; &#160;&#160; <font style="font-size: 10pt; font-family: 'Times New Roman';">There are no &#8220;<font style="font-size: 10pt;
            font-family: 'Times New Roman'; font-weight: bold;">significant subsidiaries</font>&#8221; of the Company (as such term is defined in Rule 1-02 of Regulation S-X).&#160; Each subsidiary of the Company has been duly organized and is validly existing in
          good standing under the laws of the jurisdiction of its incorporation or organization, has corporate or similar power and authority to own, lease and operate its properties and to conduct its business as described in the Registration Statement,
          the Time of Sale Prospectus and the Prospectus and is duly qualified to transact business and is in good standing in each jurisdiction in which such qualification is required, whether by reason of the ownership or leasing of property or the
          conduct of business, except where the failure to so qualify or to be in good standing would not result in a Material Adverse Effect.&#160; Except as otherwise disclosed in the Registration Statement, the Time of Sale Prospectus and the Prospectus, all
          of the issued and outstanding capital stock of each subsidiary has been duly authorized and validly issued, is fully paid and non-assessable and is owned by the Company, directly or through subsidiaries, free and clear of any security interest,
          mortgage, pledge, lien, encumbrance, claim or equity.&#160; None of the outstanding shares of capital stock of any subsidiary were issued in violation of the preemptive or similar rights of any securityholder of such subsidiary.</font></div>
      <div><br>
      </div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">4</font></div>
        <div id="DSPFPageBreak" style="page-break-after:always;">
          <hr style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;" noshade="noshade"></div>
      </div>
      <div style="text-align: left; text-indent: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">(k)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 10pt; font-family: 'Times New Roman';">The authorized, issued and outstanding shares of
          capital stock of the Company as of September 30, 2018 are as set forth in the Registration Statement, the Time of Sale Prospectus and the Prospectus.&#160; The outstanding shares of capital stock of the Company have been duly authorized and validly
          issued and are fully paid and non-assessable.&#160; None of the outstanding shares of capital stock of the Company were issued in violation of the preemptive or other similar rights of any securityholder of the Company.</font></div>
      <div><br>
      </div>
      <div style="text-align: left; text-indent: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">(l)</font>&#160; &#160; &#160;&#160;&#160;&#160;&#160;&#160; <font style="font-size: 10pt; font-family: 'Times New Roman';">This Agreement has been duly authorized, executed
          and delivered by the Company.</font></div>
      <div><br>
      </div>
      <div style="text-align: left; text-indent: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">(m)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-size: 10pt; font-family: 'Times New Roman';">The Shares to be purchased by the Underwriters from
          the Company have been duly authorized for issuance and sale to the Underwriters pursuant to this Agreement and, when issued and delivered by the Company pursuant to this Agreement against payment of the consideration set forth herein, will be
          validly issued and fully paid and non-assessable; and the issuance of the Shares is not subject to the preemptive or other similar rights of any securityholder of the Company except for such preemptive or similar rights that have been waived in
          accordance with their terms and all applicable laws.&#160; The authorized capital stock of the Company conforms as to legal matters in all material respects to the description thereof contained in each of the Time of Sale Prospectus and the
          Prospectus.&#160; No holder of Shares will be subject to personal liability by reason of being such a holder.</font></div>
      <div><br>
      </div>
      <div style="text-align: left; text-indent: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">(n)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 10pt; font-family: 'Times New Roman';">There are no persons with registration rights or other
          similar rights to have any securities registered for sale pursuant to the Registration Statement or otherwise registered for sale or sold by the Company under the Securities Act pursuant to this Agreement, other than those rights that have been
          waived in accordance with their terms and all applicable laws.</font></div>
      <div><br>
      </div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">5</font></div>
        <div id="DSPFPageBreak" style="page-break-after:always;">
          <hr style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;" noshade="noshade"></div>
      </div>
      <div style="text-align: left; text-indent: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">(o)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 10pt; font-family: 'Times New Roman';">Neither the Company nor any of its subsidiaries is (A)
          in violation of its charter, by-laws or similar organizational document, (B) in default in the performance or observance of any obligation, agreement, covenant or condition contained in any contract, indenture, mortgage, deed of trust, loan or
          credit agreement, note, lease or other agreement or instrument to which the Company or any of its subsidiaries is a party or by which it or any of them may be bound or to which any of the properties or assets of the Company or any subsidiary is
          subject (collectively, &#8220;<font style="font-size: 10pt; font-family: 'Times New Roman'; font-weight: bold;">Agreements and Instruments</font>&#8221;), except for such defaults that would not, singly or in the aggregate, result in a Material Adverse
          Effect, or (C) in violation of any law, statute, rule, regulation, judgment, order, writ or decree of any arbitrator, court, governmental body, regulatory body, administrative agency or other authority, body or agency having jurisdiction over the
          Company or any of its subsidiaries or any of their respective properties, assets or operations (each, a &#8220;<font style="font-size: 10pt; font-family: 'Times New Roman'; font-weight: bold;">Governmental Entity</font>&#8221;), except for such violations
          that would not, singly or in the aggregate, result in a Material Adverse Effect.&#160; The execution, delivery and performance of this Agreement and the consummation of the transactions contemplated herein and in the Registration Statement, the Time
          of Sale Prospectus and the Prospectus (including the issuance and sale of the Shares and the use of the proceeds from the sale of the Shares as described therein under the caption &#8220;Use of Proceeds&#8221;) and compliance by the Company with its
          obligations hereunder have been duly authorized by all necessary corporate action and do not and will not, whether with or without the giving of notice or passage of time or both, conflict with or constitute a breach of, or default or Repayment
          Event (as defined below) under, or result in the creation or imposition of any lien, charge or encumbrance upon any properties or assets of the Company or any subsidiary pursuant to, the Agreements and Instruments (except for such conflicts,
          breaches, defaults or Repayment Events or liens, charges or encumbrances that would not, singly or in the aggregate, result in a Material Adverse Effect), nor will such action result in any violation of any law, statute, rule, regulation,
          judgment, order, writ or decree of any Governmental Entity that would have a Material Adverse Effect or the provisions of the charter, by-laws or similar organizational document of the Company or any of its subsidiaries.&#160; As used herein, a &#8220;<font style="font-size: 10pt; font-family: 'Times New Roman'; font-weight: bold;">Repayment Event</font>&#8221; means any event or condition which gives the holder of any note, debenture or other evidence of indebtedness (or any person acting on such
          holder&#8217;s behalf) the right to require the repurchase, redemption or repayment of all or a portion of such indebtedness by the Company or any of its subsidiaries.</font></div>
      <div><br>
      </div>
      <div style="text-align: left; text-indent: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">(p)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 10pt; font-family: 'Times New Roman';">No labor dispute with the employees of the Company or
          any of its subsidiaries exists or, to the knowledge of the Company, is imminent, and to the Company&#8217;s knowledge, there are no existing or imminent labor disturbances by the employees of any of its or any subsidiary&#8217;s principal suppliers,
          manufacturers, customers or contractors, which, in either case, would result in a Material Adverse Effect.</font></div>
      <div><br>
      </div>
      <div style="text-align: left; text-indent: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">(q)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 10pt; font-family: 'Times New Roman';">Except as disclosed in the Registration Statement, the
          Time of Sale Prospectus and the Prospectus, there is no action, suit, proceeding, inquiry or investigation before or brought by any Governmental Entity now pending or, to the knowledge of the Company, threatened, against or affecting the Company
          or any of its subsidiaries, which would reasonably be expected to result in a Material Adverse Effect, or which would reasonably be expected to materially and adversely affect their respective properties or assets or the consummation of the
          transactions contemplated in this Agreement or the performance by the Company of its obligations hereunder; and the aggregate of all pending legal or governmental proceedings to which the Company or any such subsidiary is a party or of which any
          of their respective properties or assets is the subject which are not described in the Registration Statement, the Time of Sale Prospectus and the Prospectus, including ordinary routine litigation incidental to the business, would not reasonably
          be expected to result in a Material Adverse Effect.</font></div>
      <div><br>
      </div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">6</font></div>
        <div id="DSPFPageBreak" style="page-break-after:always;">
          <hr style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;" noshade="noshade"></div>
      </div>
      <div style="text-align: left; text-indent: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">(r)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 10pt; font-family: 'Times New Roman';">There are no contracts or documents which are required
          to be described in the Registration Statement, the Time of Sale Prospectus or the Prospectus or to be filed as exhibits to the Registration Statement which have not been so described or filed as required.</font></div>
      <div><br>
      </div>
      <div style="text-align: left; text-indent: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">(s)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 10pt; font-family: 'Times New Roman';">No filing with, or authorization, approval, consent,
          license, order, registration, qualification or decree of, any Governmental Entity is necessary or required for the performance by the Company of its obligations hereunder, in connection with the offering, issuance or sale of the Shares hereunder
          or the consummation of the transactions contemplated by this Agreement, except (A) such as have been already obtained or as may be required under the Securities Act, the applicable rules and regulations of the Commission thereunder, the rules of
          The Nasdaq Stock Market LLC, state securities laws or the rules of Financial Industry Regulatory Authority, Inc. (&#8220;<font style="font-size: 10pt; font-family: 'Times New Roman'; font-weight: bold;">FINRA</font>&#8221;).</font></div>
      <div><br>
      </div>
      <div style="text-align: left; text-indent: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">(t)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 10pt; font-family: 'Times New Roman';">The Company and its subsidiaries possess such permits,
          licenses, approvals, consents and other authorizations (collectively, &#8220;<font style="font-size: 10pt; font-family: 'Times New Roman'; font-weight: bold;">Governmental Licenses</font>&#8221;) issued by the appropriate Governmental Entities necessary to
          conduct the business now operated by them, except where the failure so to possess would not, singly or in the aggregate, result in a Material Adverse Effect.&#160; The Company and its subsidiaries are in compliance with the terms and conditions of all
          Governmental Licenses, except where the failure so to comply would not, singly or in the aggregate, result in a Material Adverse Effect.&#160; All of the Governmental Licenses are valid and in full force and effect, except when the invalidity of such
          Governmental Licenses or the failure of such Governmental Licenses to be in full force and effect would not, singly or in the aggregate, result in a Material Adverse Effect.&#160; Neither the Company nor any of its subsidiaries has received any notice
          of proceedings relating to the revocation or modification of any Governmental Licenses which, singly or in the aggregate, if the subject of an unfavorable decision, ruling or finding, would result in a Material Adverse Effect.&#160; The Company and
          its subsidiaries (i) are, and at all times have been, in compliance with all statutes, rules and regulations applicable to the ownership, testing, development, manufacture, packaging, processing, use, distribution, storage, import, export or
          disposal of any product manufactured or distributed by the Company or its subsidiaries (&#8220;<font style="font-size: 10pt; font-family: 'Times New Roman'; font-weight: bold;">Applicable Laws</font>&#8221;), except where such noncompliance would not, singly
          or in the aggregate, result in a Material Adverse Effect; and (ii) have not received any U.S. Food and Drug Administration (&#8220;<font style="font-size: 10pt; font-family: 'Times New Roman'; font-weight: bold;">FDA</font>&#8221;) Form 483, written notice
          of adverse finding, warning letter, untitled letter or other correspondence or written notice from any court or arbitrator or governmental or regulatory authority alleging or asserting non-compliance with (x) any Applicable Laws or (y) any
          licenses, exemptions, certificates, approvals, clearances, authorizations, permits and supplements or amendments thereto required by any such Applicable Laws, except where being in contravention of any of the foregoing representations or
          warranties, singly or in the aggregate, would not have a Material Adverse Effect.</font></div>
      <div><br>
      </div>
      <div style="text-align: left; text-indent: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">(u)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-size: 10pt; font-family: 'Times New Roman';">The Company and its subsidiaries have good title to
          all properties owned by them, in each case, free and clear of all mortgages, pledges, liens, security interests, claims, restrictions or encumbrances of any kind except such as (A) are described in the Registration Statement, the Time of Sale
          Prospectus and the Prospectus or (B) would not, singly or in the aggregate, have a Material Adverse Effect; and all of the leases and subleases material to the business of the Company and its subsidiaries, considered as one enterprise, and under
          which the Company or any of its subsidiaries holds properties described in the Registration Statement, the Time of Sale Prospectus or the Prospectus, are in full force and effect, and neither the Company nor any such subsidiary has any notice of
          any claim of any sort that has been asserted by anyone adverse to the rights of the Company or any subsidiary under any of the leases or subleases mentioned above, or affecting or questioning the rights of the Company or such subsidiary to the
          continued possession of the leased or subleased premises under any such lease or sublease except to the extent that any claim or adverse effect on the Company&#8217;s rights thereto would not reasonably be expected to result in a Material Adverse
          Effect.&#160; The Company does not own any real property.</font></div>
      <div><br>
      </div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">7</font></div>
        <div id="DSPFPageBreak" style="page-break-after:always;">
          <hr style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;" noshade="noshade"></div>
      </div>
      <div style="text-align: left; text-indent: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">(v)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 10pt; font-family: 'Times New Roman';">Except as described in the Registration Statement, the
          Time of Sale Prospectus and the Prospectus, the Company and each of its subsidiaries own or possess, or can acquire on reasonable terms, adequate rights to use all patents, patent rights, licenses, inventions, copyrights, know how (including
          trade secrets and other unpatented and/or unpatentable proprietary or confidential information, systems or procedures), trademarks, service marks, trade names or other intellectual property (including all registrations and applications for
          registration of, and all goodwill associated with, the foregoing) (collectively, &#8220;<font style="font-size: 10pt; font-family: 'Times New Roman'; font-weight: bold;">Intellectual Property</font>&#8221;) necessary for the conduct of their respective
          businesses, and to the knowledge of the Company, neither the Company nor any of its subsidiaries has infringed, misappropriated or otherwise violated any Intellectual Property of any third party in any material respect.&#160; Neither the Company nor
          any of its subsidiaries has received any notice of, or is otherwise aware of, any threatened or pending claim of infringement, misappropriation or other violation of any Intellectual Property of any third party, or any notice challenging the
          validity, scope or enforceability of the Intellectual Property owned by or licensed to the Company or any of its subsidiaries, or their respective rights therein, in each case which, individually or in the aggregate, would reasonably be expected
          to have a Material Adverse Effect.&#160; The Company is not aware of any specific facts that would support a finding that any of the issued or granted patents owned by or licensed to the Company is invalid or unenforceable and, to the knowledge of the
          Company, all such issued or granted patents are valid and enforceable.</font></div>
      <div><br>
      </div>
      <div style="text-align: left; text-indent: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">(w)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-size: 10pt; font-family: 'Times New Roman';">Except as described in the Registration Statement, the
          Time of Sale Prospectus and the Prospectus or would not, singly or in the aggregate, result in a Material Adverse Effect, (A) neither the Company nor any of its subsidiaries is in violation of any federal, state, local or foreign statute, law,
          rule, regulation, ordinance, code, policy or rule of common law or any judicial or administrative interpretation thereof, including any judicial or administrative order, consent, decree or judgment, relating to pollution or protection of human
          health, the environment (including, without limitation, ambient air, surface water, groundwater, land surface or subsurface strata) or wildlife, including, without limitation, laws and regulations relating to the release or threatened release of
          chemicals, pollutants, contaminants, wastes, toxic substances, hazardous substances, petroleum or petroleum products, asbestos-containing materials or mold (collectively, &#8220;<font style="font-size: 10pt; font-family: 'Times New Roman'; font-weight:
            bold;">Hazardous Materials</font>&#8221;) or to the manufacture, processing, distribution, use, treatment, storage, disposal, transport or handling of Hazardous Materials (collectively, &#8220;<font style="font-size: 10pt; font-family: 'Times New Roman';
            font-weight: bold;">Environmental Laws</font>&#8221;), (B) the Company and its subsidiaries have all permits, authorizations and approvals required under any applicable Environmental Laws and are each in compliance with their requirements, (C) there
          are no pending or to the Company&#8217;s knowledge, threatened administrative, regulatory or judicial actions, suits, demands, demand letters, claims, liens, notices of noncompliance or violation, investigation or proceedings relating to any
          Environmental Law against the Company or any of its subsidiaries and (D) there are no events or circumstances that would reasonably be expected to form the basis of an order for clean-up or remediation, or an action, suit or proceeding by any
          private party or Governmental Entity, against or affecting the Company or any of its subsidiaries relating to Hazardous Materials or any Environmental Laws.</font></div>
      <div><br>
      </div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">8</font></div>
        <div id="DSPFPageBreak" style="page-break-after:always;">
          <hr style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;" noshade="noshade"></div>
      </div>
      <div style="text-align: left; text-indent: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">(x)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 10pt; font-family: 'Times New Roman';">The Company and each of its subsidiaries maintain a
          system of internal accounting controls (as defined in Rule 13a-15(f) of the Exchange Act) sufficient to provide reasonable assurance that (i) transactions are executed in accordance with management&#8217;s general or specific authorizations&#894; (ii)
          transactions are recorded as necessary to permit preparation of financial statements in conformity with generally accepted accounting principles and to maintain asset accountability&#894; (iii) access to assets is permitted only in accordance with
          management&#8217;s general or specific authorization&#894; (iv) the recorded accountability for assets is compared with the existing assets at reasonable intervals and appropriate action is taken with respect to any differences; and (v) the interactive data
          in eXtensible Business Reporting Language included or incorporated by reference in the Registration Statement is accurate. The Company&#8217;s internal controls over financial reporting are effective and the Company is not aware of any material
          weakness in its internal controls over financial reporting.</font></div>
      <div><br>
      </div>
      <div style="text-align: left; text-indent: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">(y)</font>&#160;&#160;&#160; &#160; &#160;&#160;&#160; <font style="font-size: 10pt; font-family: 'Times New Roman';">The interactive data in eXtensible Business Reporting
          Language included or incorporated by reference in the Registration Statement fairly presents the information called for in all material respects and has been prepared in accordance with the Commission&#8217;s rules and guidelines applicable thereto.</font></div>
      <div><br>
      </div>
      <div style="text-align: left; text-indent: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">(z)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 10pt; font-family: 'Times New Roman';">The Company and each of its subsidiaries maintain an
          effective system of &#8220;disclosure controls and procedures&#8221; (as defined in Rule 13a-15(e) under the Exchange Act); such disclosure controls and procedures are effective.</font></div>
      <div><br>
      </div>
      <div style="text-align: left; text-indent: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">(aa)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-size: 10pt; font-family: 'Times New Roman';">The Company has taken all necessary actions to ensure
          that it is in compliance with all provisions of the Sarbanes-Oxley Act of 2002 and all rules and regulations promulgated thereunder or implementing the provisions thereof (the &#8220;<font style="font-size: 10pt; font-family: 'Times New Roman';
            font-weight: bold;">Sarbanes-Oxley Act</font>&#8221;) that are currently in effect and with which the Company is required to comply.</font></div>
      <div><br>
      </div>
      <div style="text-align: left; text-indent: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">(bb)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-size: 10pt; font-family: 'Times New Roman';">All United States federal income tax returns of the
          Company and its subsidiaries required by law to be filed have been filed and all taxes shown by such returns or otherwise assessed, which are due and payable, have been paid, except assessments against which appeals have been or will be promptly
          taken and as to which adequate reserves have been provided.&#160; The United States federal income tax returns of the Company through the fiscal year ended December 31, 2017 have been filed and no assessment in connection therewith has been made
          against the Company.&#160; The Company and its subsidiaries have filed all other tax returns that are required to have been filed by them pursuant to applicable foreign, state, local or other law except insofar as the failure to file such returns
          would not result in a Material Adverse Effect, and has paid all taxes due pursuant to such returns or pursuant to any assessment received by the Company and its subsidiaries, except for such taxes, if any, as are being contested in good faith and
          as to which adequate reserves have been established by the Company.&#160; The charges, accruals and reserves on the books of the Company in respect of any income and corporation tax liability for any years not finally determined are adequate to meet
          any assessments or re-assessments for additional income tax for any years not finally determined, except to the extent of any inadequacy that would not result in a Material Adverse Effect.</font></div>
      <div><br>
      </div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">9</font></div>
        <div id="DSPFPageBreak" style="page-break-after:always;">
          <hr style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;" noshade="noshade"></div>
      </div>
      <div style="text-align: left; text-indent: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">(cc)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-size: 10pt; font-family: 'Times New Roman';">The Company and its subsidiaries carry or are entitled
          to the benefits of insurance, with reputable insurers, in such amounts and covering such risks as is generally maintained by companies of established repute and of comparable size engaged in the same or similar business, and all such insurance is
          in full force and effect.&#160; The Company has no reason to believe that it or any of its subsidiaries will not be able (A) to renew its existing insurance coverage as and when such policies expire or (B) to obtain comparable coverage from similar
          institutions as may be necessary or appropriate to conduct its business as now conducted and at a cost that would not result in a Material Adverse Effect.&#160; Neither of the Company nor any of its subsidiaries has been denied any insurance coverage
          which it has sought or for which it has applied.</font></div>
      <div><br>
      </div>
      <div style="text-align: left; text-indent: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">(dd)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-size: 10pt; font-family: 'Times New Roman';">Each preliminary prospectus filed as part of the
          registration statement as originally filed or as part of any amendment thereto, or filed pursuant to Rule 424 under the Securities Act, complied when so filed in all material respects with the Securities Act and the applicable rules and
          regulations of the Commission thereunder.</font></div>
      <div><br>
      </div>
      <div style="text-align: left; text-indent: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">(ee)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-size: 10pt; font-family: 'Times New Roman';">The Company is not required, and upon the issuance and
          sale of the Shares as herein contemplated and the application of the net proceeds therefrom as described in the Registration Statement, the Time of Sale Prospectus and the Prospectus will not be required, to register as an &#8220;investment company&#8221;
          under the Investment Company Act of 1940, as amended.</font></div>
      <div><br>
      </div>
      <div style="text-align: left; text-indent: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">(ff)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-size: 10pt; font-family: 'Times New Roman';">Neither the Company nor, to the Company&#8217;s knowledge,
          any affiliate of the Company has taken, nor will the Company or any of its subsidiaries take, directly or indirectly, any action which is designed, or would reasonably be expected, to cause or result in, or which constitutes, the stabilization or
          manipulation of the price of any security of the Company to facilitate the sale or resale of the Shares or to result in a violation of Regulation M under the 1934 Act.</font></div>
      <div><br>
      </div>
      <div style="text-align: left; text-indent: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">(gg)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-size: 10pt; font-family: 'Times New Roman';">None of the Company, any of its subsidiaries or, to
          the knowledge of the Company, any director, officer, agent, employee, affiliate or other person acting on behalf of the Company or any of its subsidiaries is aware of or has taken any action, directly or indirectly, that would result in a
          violation by such persons of the Foreign Corrupt Practices Act of 1977, as amended, and the rules and regulations thereunder (the &#8220;<font style="font-size: 10pt; font-family: 'Times New Roman'; font-weight: bold;">FCPA</font>&#8221;), including, without
          limitation, making use of the mails or any means or instrumentality of interstate commerce corruptly in furtherance of an offer, payment, promise to pay or authorization of the payment of any money, or other property, gift, promise to give, or
          authorization of the giving of anything of value to any &#8220;foreign official&#8221; (as such term is defined in the FCPA) or any foreign political party or official thereof or any candidate for foreign political office, in contravention of the FCPA and
          the Company and, to the knowledge of the Company, its affiliates have conducted their businesses in compliance with the FCPA and have instituted and maintain policies and procedures designed to comply, and which are reasonably expected to comply
          therewith.</font></div>
      <div><br>
      </div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">10</font></div>
        <div id="DSPFPageBreak" style="page-break-after:always;">
          <hr style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;" noshade="noshade"></div>
      </div>
      <div style="text-align: left; text-indent: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">(hh)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-size: 10pt; font-family: 'Times New Roman';">The operations of the Company and its subsidiaries are
          and have been conducted at all times in compliance with applicable financial recordkeeping and reporting requirements of the Currency and Foreign Transactions Reporting Act of 1970, as amended, the money laundering statutes of all jurisdictions,
          the rules and regulations thereunder and any related or similar rules, regulations or guidelines, issued, administered or enforced by any Governmental Entity (collectively, the &#8220;<font style="font-size: 10pt; font-family: 'Times New Roman';
            font-weight: bold;">Money Laundering Laws</font>&#8221;); and no action, suit or proceeding by or before any Governmental Entity involving the Company or any of its subsidiaries with respect to the Money Laundering Laws is pending or, to the best
          knowledge of the Company, threatened.</font></div>
      <div><br>
      </div>
      <div style="text-align: left; text-indent: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">(ii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 10pt; font-family: 'Times New Roman';">None of the Company, any of its subsidiaries or, to
          the knowledge of the Company, any director, officer, agent, employee, affiliate or representative of the Company or any of its subsidiaries is an individual or entity (&#8220;<font style="font-size: 10pt; font-family: 'Times New Roman'; font-weight:
            bold;">Person</font>&#8221;) currently the subject or target of any sanctions administered or enforced by the United States Government, including, without limitation, the U.S. Department of the Treasury&#8217;s Office of Foreign Assets Control (&#8220;<font style="font-size: 10pt; font-family: 'Times New Roman'; font-weight: bold;">OFAC</font>&#8221;), the United Nations Security Council (&#8220;<font style="font-size: 10pt; font-family: 'Times New Roman'; font-weight: bold;">UNSC</font>&#8221;), the European
          Union, Her Majesty&#8217;s Treasury (&#8220;<font style="font-size: 10pt; font-family: 'Times New Roman'; font-weight: bold;">HMT</font>&#8221;), or other relevant sanctions authority (collectively, &#8220;<font style="font-size: 10pt; font-family: 'Times New Roman';
            font-weight: bold;">Sanctions</font>&#8221;), nor is the Company located, organized or resident in a country or territory that is the subject of Sanctions; and the Company will not directly or indirectly use the proceeds of the sale of the Shares, or
          lend, contribute or otherwise make available such proceeds to any subsidiaries, joint venture partners or other Person, to fund any activities of or business with any Person, or in any country or territory, that, at the time of such funding, is
          the subject of Sanctions or in any other manner that will result in a violation by any Person (including any Person participating in the transaction, whether as underwriter, advisor, investor or otherwise) of Sanctions.</font></div>
      <div><br>
      </div>
      <div style="text-align: left; text-indent: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">(jj)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 10pt; font-family: 'Times New Roman';">Except as disclosed in the Registration Statement,
          the Time of Sale Prospectus and the Prospectus, the Company (i) does not have any material lending or other relationship with any bank or lending affiliate of any Underwriter and (ii) does not intend to use any of the proceeds from the sale of
          the Shares to repay any outstanding debt owed to any affiliate of any Underwriter.&#160; Neither the Company nor any of its subsidiaries have any securities that are assigned a rating by any &#8220;nationally recognized statistical rating organization&#8221; (as
          such term as defined in Section 3(a)(62) of the Exchange Act).</font></div>
      <div><br>
      </div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">11</font></div>
        <div id="DSPFPageBreak" style="page-break-after:always;">
          <hr style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;" noshade="noshade"></div>
      </div>
      <div style="text-align: left; text-indent: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">(kk)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-size: 10pt; font-family: 'Times New Roman';">Any statistical and market-related data included or
          incorporated by reference into the Registration Statement, the Time of Sale Prospectus or the Prospectus are based on or derived from sources that the Company believes, after reasonable inquiry, to be reliable and accurate and, to the extent
          required, the Company has obtained the written consent to the use of such data from such sources.</font></div>
      <div><br>
      </div>
      <div style="text-align: left; text-indent: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">(ll)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 10pt; font-family: 'Times New Roman';">The clinical and pre-clinical trials conducted by or,
          to the knowledge of the Company after due inquiry, on behalf of or sponsored by the Company or its subsidiaries, or in which the Company or its subsidiaries have participated, that are described in the Registration Statement, the Time of Sale
          Prospectus and the Prospectus, or the results of which are referred to in the Registration Statement, the Time of Sale Prospectus and the Prospectus, as applicable, were, and if still pending are, being conducted in all material respects in
          accordance with standard medical and scientific research procedures and all applicable rules and regulations of the FDA and comparable drug regulatory agencies outside of the United States to which they are subject (collectively, the &#8220;<font style="font-size: 10pt; font-family: 'Times New Roman'; font-weight: bold;">Regulatory Authorities</font>&#8221;) and current Good Clinical Practices and Good Laboratory Practices; the descriptions in the Registration Statement, the Time of Sale
          Prospectus or the Prospectus of the results of such studies and tests are accurate and complete in all material respects and fairly present the data derived from such trials; the Company has no knowledge of any other trials not described in the
          Registration Statement, the Time of Sale Prospectus and the Prospectus, the results of which are materially inconsistent with or call into question the results described or referred to in the Registration Statement, the Time of Sale Prospectus
          and the Prospectus; the Company and its subsidiaries have operated at all times and are currently in compliance in all material respects with all applicable statutes, rules and regulations of the Regulatory Authorities; except as disclosed in the
          Registration Statement, the Time of Sale Prospectus and the Prospectus, neither the Company nor any of its subsidiaries have received any written notices, correspondence or other communications from the Regulatory Authorities or any other
          governmental agency requiring or threatening the termination, material modification or suspension of any clinical or pre-clinical trials that are described in the Registration Statement, the Time of Sale Prospectus and the Prospectus or the
          results of which are referred to in the Registration Statement, the Time of Sale Prospectus and the Prospectus, other than ordinary course communications with respect to modifications in connection with the design and implementation of such
          trials, and, to the Company&#8217;s knowledge, there are no reasonable grounds for the same.</font></div>
      <div><br>
      </div>
      <div style="text-align: left; text-indent: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">(mm)</font>&#160;&#160;&#160;&#160;&#160; <font style="font-size: 10pt; font-family: 'Times New Roman';">The Company has not failed to file with the Regulatory
          Authorities any required filing, declaration, listing, registration, report or submission with respect to the Company&#8217;s product candidates that are described or referred to in the Registration Statement, the Time of Sale Prospectus and the
          Prospectus; all such filings, declarations, listings, registrations, reports or submissions were in material compliance with applicable laws when filed; and no deficiencies regarding compliance with applicable law have been asserted by any
          applicable regulatory authority with respect to any such filings, declarations, listings, registrations, reports or submissions.</font></div>
      <div><br>
      </div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">12</font></div>
        <div id="DSPFPageBreak" style="page-break-after:always;">
          <hr style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;" noshade="noshade"></div>
      </div>
      <div style="text-align: left; text-indent: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">(nn)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-size: 10pt; font-family: 'Times New Roman';">(i)(x) Except as otherwise disclosed in the
          Registration Statement, the Time of Sale Prospectus and the Prospectus, there has been no security breach or other compromise of or relating to any of the Company's or any of its subsidiaries' information technology and computer systems,
          networks, hardware, software, data (including the data of their respective customers, employees, suppliers, vendors and any third party data maintained by or on behalf of them), equipment or technology (collectively, &#8220;<font style="font-size:
            10pt; font-family: 'Times New Roman'; font-weight: bold;">IT Systems and Data</font>&#8221;) and (y) neither the Company nor any of its subsidiaries has been notified of, and has no knowledge of any event or condition that would reasonably be
          expected to result in, any security breach or other compromise to its IT Systems and Data, except as would not, in the case of this clause (i), individually or in the aggregate, be reasonably expected to have a Material Adverse Effect; (ii) the
          Company and each of its subsidiaries is presently in compliance with all applicable laws or statutes and all judgments, orders, rules and regulations of any court or arbitrator or governmental or regulatory authority, internal policies and
          contractual obligations relating to the privacy and security of IT Systems and Data and to the protection of such IT Systems and Data from unauthorized use, access, misappropriation or modification, except as would not, in the case of this clause
          (ii), individually or in the aggregate, be reasonably expected to have a Material Adverse Effect; and (iii) the Company and its subsidiaries have implemented information system backup and disaster recovery procedures consistent with industry
          standards and practices.</font></div>
      <div><br>
      </div>
      <div style="text-align: left; text-indent: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">2.</font> &#160; &#160;&#160;&#160;&#160;&#160;&#160; &#160; <font style="font-size: 10pt; font-family: 'Times New Roman';"><font style="font-size: 10pt; font-family: 'Times
            New Roman'; font-style: italic;"><font style="font-style: italic;">Agreements to Sell and Purchase</font>.&#160; </font>The Company hereby agrees to sell to the several Underwriters, and each Underwriter, upon the basis of the representations and
          warranties herein contained, but subject to the conditions hereinafter stated, agrees, severally and not jointly, to purchase from the Company the respective numbers of Firm Shares set forth in Schedule II hereto opposite its name at the purchase
          price set forth in Schedule I hereto (the &#8220;<font style="font-size: 10pt; font-family: 'Times New Roman'; font-weight: bold;">Purchase Price</font>&#8221;).</font></div>
      <div><br>
      </div>
      <div style="text-align: left; text-indent: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">On the basis of the representations and warranties contained in this Agreement, and subject to its terms and conditions, the Company
          agrees to sell to the Underwriters the Additional Shares, and the Underwriters shall have the right to purchase, severally and not jointly, up to the number of Additional Shares set forth in Schedule I hereto at the Purchase Price, provided,
          however, that the amount paid by the Underwriters for any Additional Shares shall be reduced by an amount per share equal to any dividends declared by the Company and payable on the Firm Shares but not payable on such Additional Shares.&#160; You may
          exercise this right on behalf of the Underwriters in whole or from time to time in part by giving written notice not later than 30 days after the date of the Prospectus.&#160; Any exercise notice shall specify the number of Additional Shares to be
          purchased by the Underwriters and the date on which such shares are to be purchased.&#160; Each purchase date must be at least two business days after the written notice is given and may not be earlier than the closing date for the Firm Shares nor
          later than ten business days after the date of such notice.&#160; Additional Shares may be purchased as provided in Section 4 hereof solely for the purpose of covering sales of shares in excess of the number of the Firm Shares.&#160; On each day, if any,
          that Additional Shares are to be purchased (an &#8220;<font style="font-size: 10pt; font-family: 'Times New Roman'; font-weight: bold;">Option Closing Date</font>&#8221;), each Underwriter agrees, severally and not jointly, to purchase the number of
          Additional Shares (subject to such adjustments to eliminate fractional shares as you may determine) that bears the same proportion to the total number of Additional Shares to be purchased on such Option Closing Date as the number of Firm Shares
          set forth in Schedule II hereto opposite the name of such Underwriter bears to the total number of Firm Shares.</font></div>
      <div><br>
      </div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">13</font></div>
        <div id="DSPFPageBreak" style="page-break-after:always;">
          <hr style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;" noshade="noshade"></div>
      </div>
      <div style="text-align: left; text-indent: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">3.</font>&#160;&#160;&#160; &#160;&#160; &#160;&#160;&#160;&#160; <font style="font-size: 10pt; font-family: 'Times New Roman';"><font style="font-size: 10pt; font-style: italic;">Public


            Offering</font>.&#160; The Company is advised by you that the Underwriters propose to make a public offering of their respective portions of the Shares as soon after this Agreement has been executed effective as in your judgment is advisable.&#160; The
          Company is further advised by you that the Shares are to be offered to the public upon the terms set forth in the Prospectus.</font></div>
      <div><br>
      </div>
      <div style="text-align: left; text-indent: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">4.</font>&#160;&#160; &#160;&#160; &#160;&#160;&#160;&#160;&#160; <font style="font-size: 10pt; font-family: 'Times New Roman';"><font style="font-size: 10pt; font-family: 'Times
            New Roman'; font-style: italic;"><font style="font-style: italic;">Payment and Delivery</font>.&#160; </font>Payment for the Firm Shares shall be made to the Company in Federal or other funds immediately available in New York City on the closing
          date and time set forth in Schedule I hereto, or at such other time on the same or such other date, not later than the fifth business day thereafter, as may be designated in writing by you.&#160; The time and date of such payment are hereinafter
          referred to as the &#8220;<font style="font-size: 10pt; font-family: 'Times New Roman'; font-weight: bold;">Closing Date</font>.&#8221;</font></div>
      <div><br>
      </div>
      <div style="text-align: left; text-indent: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">Payment for any Additional Shares shall be made to the Company in Federal or other funds immediately available in New York City on the
          date specified in the corresponding notice described in Section 2 or at such other time on the same or on such other date, in any event not later than the tenth business day thereafter, as may be designated in writing by you.</font></div>
      <div><br>
      </div>
      <div style="text-align: left; text-indent: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">The Firm Shares and the Additional Shares shall be registered in such names and in such denominations as you shall request in writing not
          later than one full business day prior to the Closing Date or the applicable Option Closing Date, as the case may be, for the respective accounts of the several Underwriters, with any transfer taxes payable in connection with the transfer of the
          Shares to the Underwriters duly paid, against payment of the Purchase Price therefor.</font></div>
      <div><br>
      </div>
      <div style="text-align: left; text-indent: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">5.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-size: 10pt; font-family: 'Times New Roman';"><font style="font-size: 10pt; font-style: italic;">Conditions


            to the Underwriters&#8217; Obligations</font>.&#160; The several obligations of the Underwriters are subject to the following conditions:</font></div>
      <div><br>
      </div>
      <div style="text-align: left; text-indent: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">(a)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 10pt; font-family: 'Times New Roman';">Subsequent to the execution and delivery of this
          Agreement and prior to the Closing Date:</font></div>
      <div><br>
      </div>
      <div style="text-align: left; margin-left: 36pt; text-indent: 36pt;"><font style="font-size: 10pt; font-family: &quot;Times New Roman&quot;;">(i)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 10pt; font-family: &quot;Times New Roman&quot;;">there shall not
          have occurred any downgrading, nor shall any notice have been given of any intended or potential downgrading or of any review for a possible change that does not indicate the direction of the possible change, in the rating accorded any of the
          securities of the Company or any of its subsidiaries by any &#8220;nationally recognized statistical rating organization,&#8221; as such term is defined in Section 3(a)(62) of the Exchange Act; and</font></div>
      <div><br>
      </div>
      <div style="text-align: left; text-indent: 36pt; margin-left: 36pt;"><font style="font-size: 10pt; font-family: &quot;Times New Roman&quot;;">(ii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-size: 10pt; font-family: &quot;Times New Roman&quot;;">there shall
          not have occurred any material adverse change in the condition, financial or otherwise, or in the earnings, business affairs or business prospects of the Company and its subsidiaries considered as one enterprise, whether or not arising in the
          ordinary course of business from that set forth in the Time of Sale Prospectus that, in your judgment, is material and adverse and that makes it, in your judgment, impracticable to market the Shares on the terms and in the manner contemplated in
          the Time of Sale Prospectus.</font></div>
      <div><br>
      </div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">14</font></div>
        <div id="DSPFPageBreak" style="page-break-after:always;">
          <hr style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;" noshade="noshade"></div>
      </div>
      <div style="text-align: left; text-indent: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">(b)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 10pt; font-family: 'Times New Roman';">The Underwriters shall have received on the Closing
          Date a certificate, dated the Closing Date and signed by an executive officer of the Company, to the effect set forth in Section 5(a)(i) and 5(a)(ii) above and to the effect that the representations and warranties of the Company contained in this
          Agreement are true and correct as of the Closing Date and that the Company has complied with all of the agreements and satisfied all of the conditions on its part to be performed or satisfied hereunder on or before the Closing Date.</font></div>
      <div><br>
      </div>
      <div style="text-align: left; text-indent: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">The officer signing and delivering such certificate may rely upon the best of his or her knowledge as to proceedings threatened.</font></div>
      <div><br>
      </div>
      <div style="text-align: left; text-indent: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">(c)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 10pt; font-family: 'Times New Roman';">The Underwriters shall have received on the Closing
          Date an opinion of Covington &amp; Burling LLP, outside counsel for the Company, dated the Closing Date, in form and substance satisfactory to counsel for the Underwriters.</font></div>
      <div><br>
      </div>
      <div style="text-align: left; text-indent: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">(d)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 10pt; font-family: 'Times New Roman';">The Underwriters shall have received on the Closing
          Date an opinion of AuerbachSchrot LLC, special counsel for the Company with respect to intellectual property matters, dated the Closing Date, in form and substance satisfactory to counsel for the Underwriters.</font></div>
      <div><br>
      </div>
      <div style="text-align: left; text-indent: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">(e)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 10pt; font-family: 'Times New Roman';">The Underwriters shall have received on the Closing
          Date an opinion of Wilmer Cutler Pickering Hale and Dorr LLP, counsel for the Underwriters, dated the Closing Date, in form and substance satisfactory to the Underwriters.</font></div>
      <div><br>
      </div>
      <div style="text-align: left; text-indent: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">With respect to Section 5(c) above, counsel for the Company may state that their opinions and beliefs are based upon their participation
          in the preparation of the Registration Statement, the Time of Sale Prospectus, the Prospectus and any amendments or supplements thereto and review and discussion of the contents thereof, but are without independent check or verification, except
          as specified.</font></div>
      <div><br>
      </div>
      <div style="text-align: left; text-indent: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">(f)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 10pt; font-family: 'Times New Roman';">The Underwriters shall have received, on each of the
          date hereof and the Closing Date, a letter dated the date hereof or the Closing Date, as the case may be, in form and substance satisfactory to the Underwriters, from Ernst &amp; Young LLP, independent public accountants, containing statements
          and information of the type ordinarily included in accountants&#8217; &#8220;comfort letters&#8221; to underwriters with respect to the financial statements and certain financial information contained in the Registration Statement, the Time of Sale Prospectus and
          the Prospectus; <font style="font-size: 10pt; font-family: 'Times New Roman'; font-style: italic;">provided</font> that the letter delivered on the Closing Date shall use a &#8220;cut&#8209;off date&#8221; not earlier than February 11, 2019.</font></div>
      <div><br>
      </div>
      <div style="text-align: left; text-indent: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">(g)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 10pt; font-family: 'Times New Roman';">The &#8220;lock&#8209;up&#8221; agreements, each substantially in the
          form of <font style="font-size: 10pt; font-family: 'Times New Roman';"><u>Exhibit A</u></font> hereto, between you and certain shareholders, officers and directors of the Company relating to sales and certain other dispositions of shares of
          Common Stock or certain other securities, delivered to you on or before the date hereof, shall be in full force and effect on the Closing Date.</font></div>
      <div><br>
      </div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">15</font></div>
        <div id="DSPFPageBreak" style="page-break-after:always;">
          <hr style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;" noshade="noshade"></div>
      </div>
      <div style="text-align: left; text-indent: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">(h)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 10pt; font-family: 'Times New Roman';">The Shares to be sold on the Closing Date shall have
          been duly listed for quotation on the Nasdaq Global Select Market.</font></div>
      <div><br>
      </div>
      <div style="text-align: left; text-indent: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">(i)</font>&#160;&#160;&#160; &#160; &#160;&#160;&#160;&#160; <font style="font-size: 10pt; font-family: 'Times New Roman';">RESERVED.</font></div>
      <div><br>
      </div>
      <div style="text-align: left; text-indent: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">(j)</font>&#160;&#160;&#160;&#160; &#160; &#160;&#160;&#160; <font style="font-size: 10pt; font-family: 'Times New Roman';">The Underwriters shall have received, on each of the
          date hereof and the Closing Date, a certificate, dated the date hereof or the Closing Date, as the case may be, and signed by the chief financial officer of the Company, to the effect that (i) such officer is familiar with the accounting,
          operations and records systems of the Company and its subsidiaries and (ii) such officer has supervised the compilation of and reviewed certain information contained in the Registration Statement, the Time of Sale Prospectus and the Prospectus
          and that such information has been derived from the accounting records of the Company and, to the best of such officer&#8217;s knowledge, is accurate in all material respects.</font></div>
      <div><br>
      </div>
      <div style="text-align: left; text-indent: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">(k)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 10pt; font-family: 'Times New Roman';">The several obligations of the Underwriters to
          purchase Additional Shares hereunder are subject to the delivery to you on the applicable Option Closing Date of the following:</font></div>
      <div><br>
      </div>
      <div style="text-align: left; margin-left: 36pt; text-indent: 36pt;"><font style="font-size: 10pt; font-family: &quot;Times New Roman&quot;;">(i)</font>&#160; &#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-size: 10pt; font-family: &quot;Times New Roman&quot;;">a certificate,
          dated the Option Closing Date and signed by an executive officer of the Company, confirming that the certificate delivered on the Closing Date pursuant to Section 5(b) hereof remains true and correct as of such Option Closing Date;</font></div>
      <div><br>
      </div>
      <div style="text-align: left; margin-left: 36pt; text-indent: 36pt;"><font style="font-size: 10pt; font-family: &quot;Times New Roman&quot;;">(ii)</font>&#160; &#160; &#160;&#160;&#160;&#160; <font style="font-size: 10pt; font-family: &quot;Times New Roman&quot;;">an opinion of
          Covington &amp; Burling LLP, outside counsel for the Company, dated the Option Closing Date, relating to the Additional Shares to be purchased on such Option Closing Date and otherwise to the same effect as the opinion required by Section 5(c)
          hereof;</font></div>
      <div><br>
      </div>
      <div style="text-align: left; margin-left: 36pt; text-indent: 36pt;"><font style="font-size: 10pt; font-family: &quot;Times New Roman&quot;;">(iii)</font>&#160;&#160;&#160; &#160; &#160; <font style="font-size: 10pt; font-family: &quot;Times New Roman&quot;;">an opinion of
          AuerbachSchrot LLC, special counsel for the Company with respect to intellectual property matters, dated the Option Closing Date, relating to the Additional Shares to be purchased on such Option Closing Date and otherwise to the same effect as
          the opinion required by Section 5(d) hereof;</font></div>
      <div><br>
      </div>
      <div style="text-align: left; margin-left: 36pt; text-indent: 36pt;"><font style="font-size: 10pt; font-family: &quot;Times New Roman&quot;;">(iv)</font>&#160;&#160;&#160; &#160; &#160; <font style="font-size: 10pt; font-family: &quot;Times New Roman&quot;;">an opinion of
          Wilmer Cutler Pickering Hale and Dorr LLP, counsel for the Underwriters, dated the Option Closing Date, relating to the Additional Shares to be purchased on such Option Closing Date and otherwise to the same effect as the opinion required by
          Section 5(e) hereof;</font></div>
      <div><br>
      </div>
      <div style="text-align: left; margin-left: 36pt; text-indent: 36pt;"><font style="font-size: 10pt; font-family: &quot;Times New Roman&quot;;">(v)</font>&#160;&#160;&#160; &#160; &#160;&#160; <font style="font-size: 10pt; font-family: &quot;Times New Roman&quot;;">a letter dated
          the Option Closing Date, in form and substance satisfactory to the Underwriters, from Ernst &amp; Young LLP, independent public accountants, substantially in the same form and substance as the letter furnished to the Underwriters pursuant to
          Section 5(e) hereof;</font></div>
      <div><br>
      </div>
      <div style="text-align: left; margin-left: 36pt; text-indent: 36pt;"><font style="font-size: 10pt; font-family: &quot;Times New Roman&quot;;">(vi)</font>&#160;&#160; &#160; &#160;&#160; <font style="font-size: 10pt; font-family: &quot;Times New Roman&quot;;">a certificate,
          dated the Option Closing Date and signed by the chief financial officer of the Company, to the same effect as the certificate required by Section 5(j) hereof; and</font></div>
      <div><br>
      </div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">16</font></div>
        <div id="DSPFPageBreak" style="page-break-after:always;">
          <hr style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;" noshade="noshade"></div>
      </div>
      <div style="text-align: left; margin-left: 36pt; text-indent: 36pt;"><font style="font-size: 10pt; font-family: &quot;Times New Roman&quot;;">(vii)</font>&#160; &#160; &#160;&#160; <font style="font-size: 10pt; font-family: &quot;Times New Roman&quot;;">such other
          documents as you may reasonably request with respect to the good standing of the Company, the due authorization and issuance of the Additional Shares to be sold on such Option Closing Date and other matters related to the issuance of such
          Additional Shares.</font></div>
      <div><br>
      </div>
      <div style="text-align: left; text-indent: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">6.</font>&#160;&#160;&#160;&#160; &#160; &#160;&#160;&#160;<font style="font-style: italic;"> </font><font style="font-size: 10pt; font-family: 'Times New Roman';"><font style="font-size: 10pt; font-style: italic;">Covenants of the Company</font>.&#160; The Company covenants with each Underwriter as follows:</font></div>
      <div><br>
      </div>
      <div style="text-align: left; text-indent: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">(a)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 10pt; font-family: 'Times New Roman';">To furnish to you, without charge, a signed copy of
          the Registration Statement (including exhibits thereto and documents incorporated by reference therein) and to deliver to each of the Underwriters during the period mentioned in Section 6(e) or 6(f) below, as many copies of the Time of Sale
          Prospectus, the Prospectus, any documents incorporated by reference therein and any supplements and amendments thereto or to the Registration Statement as you may reasonably request.</font></div>
      <div><br>
      </div>
      <div style="text-align: left; text-indent: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">(b)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 10pt; font-family: 'Times New Roman';">Before amending or supplementing the Registration
          Statement, the Time of Sale Prospectus or the Prospectus, to furnish to you a copy of each such proposed amendment or supplement and not to file any such proposed amendment or supplement to which you reasonably object.</font></div>
      <div><br>
      </div>
      <div style="text-align: left; text-indent: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">(c)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 10pt; font-family: 'Times New Roman';">To furnish to you a copy of each proposed free writing
          prospectus to be prepared by or on behalf of, used by, or referred to by the Company and not to use or refer to any proposed free writing prospectus to which you reasonably object.</font></div>
      <div><br>
      </div>
      <div style="text-align: left; text-indent: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">(d)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 10pt; font-family: 'Times New Roman';">Not to take any action that would result in an
          Underwriter or the Company being required to file with the Commission pursuant to Rule 433(d) under the Securities Act a free writing prospectus prepared by or on behalf of the Underwriter that the Underwriter otherwise would not have been
          required to file thereunder.</font></div>
      <div><br>
      </div>
      <div style="text-align: left; text-indent: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">(e)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 10pt; font-family: 'Times New Roman';">If the Time of Sale Prospectus is being used to
          solicit offers to buy the Shares at a time when the Prospectus is not yet available to prospective purchasers and any event shall occur or condition exist as a result of which it is necessary to amend or supplement the Time of Sale Prospectus in
          order to make the statements therein, in the light of the circumstances, not misleading, or if any event shall occur or condition exist as a result of which the Time of Sale Prospectus conflicts with the information contained in the Registration
          Statement then on file, or if, in the opinion of counsel for the Underwriters, it is necessary to amend or supplement the Time of Sale Prospectus to comply with applicable law, forthwith to prepare, file with the Commission and furnish, at its
          own expense, to the Underwriters and to any dealer upon request, either amendments or supplements to the Time of Sale Prospectus so that the statements in the Time of Sale Prospectus as so amended or supplemented will not, in the light of the
          circumstances when the Time of Sale Prospectus is delivered to a prospective purchaser, be misleading or so that the Time of Sale Prospectus, as amended or supplemented, will no longer conflict with the Registration Statement, or so that the Time
          of Sale Prospectus, as amended or supplemented, will comply with applicable law.</font></div>
      <div><br>
      </div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">17</font></div>
        <div id="DSPFPageBreak" style="page-break-after:always;">
          <hr style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;" noshade="noshade"></div>
      </div>
      <div style="text-align: left; text-indent: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">(f)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 10pt; font-family: 'Times New Roman';">If, during such period after the first date of the
          public offering of the Shares as in the opinion of counsel for the Underwriters the Prospectus (or in lieu thereof the notice referred to in Rule 173(a) of the Securities Act) is required by law to be delivered in connection with sales by an
          Underwriter or dealer, any event shall occur or condition exist as a result of which it is necessary to amend or supplement the Prospectus in order to make the statements therein, in the light of the circumstances when the Prospectus (or in lieu
          thereof the notice referred to in Rule 173(a) of the Securities Act) is delivered to a purchaser, not misleading, or if, in the opinion of counsel for the Underwriters, it is necessary to amend or supplement the Prospectus to comply with
          applicable law, forthwith to prepare, file with the Commission and furnish, at its own expense, to the Underwriters and to the dealers (whose names and addresses you will furnish to the Company) to which Shares may have been sold by you on behalf
          of the Underwriters and to any other dealers upon request, either amendments or supplements to the Prospectus so that the statements in the Prospectus as so amended or supplemented will not, in the light of the circumstances when the Prospectus
          (or in lieu thereof the notice referred to in Rule 173(a) of the Securities Act) is delivered to a purchaser, be misleading or so that the Prospectus, as amended or supplemented, will comply with applicable law.</font></div>
      <div><br>
      </div>
      <div style="text-align: left; text-indent: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">(g)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 10pt; font-family: 'Times New Roman';">To endeavor to qualify the Shares for offer and sale
          under the securities or Blue Sky laws of such jurisdictions as you shall reasonably request.</font></div>
      <div><br>
      </div>
      <div style="text-align: left; text-indent: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">(h)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 10pt; font-family: 'Times New Roman';">To make generally available to the Company&#8217;s security
          holders and to you as soon as practicable an earnings statement covering a period of at least twelve months beginning with the first fiscal quarter of the Company occurring after the date of this Agreement which shall satisfy the provisions of
          Section 11(a) of the Securities Act and the rules and regulations of the Commission thereunder.</font></div>
      <div><br>
      </div>
      <div style="text-align: left; text-indent: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">(i)</font>&#160;&#160;&#160; &#160; &#160;&#160;&#160;&#160; <font style="font-size: 10pt; font-family: 'Times New Roman';">Whether or not the transactions contemplated in this
          Agreement are consummated or this Agreement is terminated, to pay or cause to be paid certain expenses incident to the performance of its obligations under this Agreement, including: (i) the fees, disbursements and expenses of the Company&#8217;s
          counsel and the Company&#8217;s accountants in connection with the registration and delivery of the Shares under the Securities Act and all other fees or expenses in connection with the preparation and filing of the Registration Statement, any
          preliminary prospectus, the Time of Sale Prospectus, the Prospectus, any free writing prospectus prepared by or on behalf of, used by, or referred to by the Company and amendments and supplements to any of the foregoing, including the filing fees
          payable to the Commission relating to the Shares (within the time required by Rule 456 (b)(1), if applicable), all printing costs associated therewith, and the mailing and delivering of copies thereof to the Underwriters and dealers, in the
          quantities hereinabove specified, (ii) all costs and expenses related to the transfer and delivery of the Shares to the Underwriters, including any transfer or other taxes payable thereon, (iii) the cost of printing or producing any Blue Sky or
          Legal Investment memorandum in connection with the offer and sale of the Shares under state securities laws and all expenses in connection with the qualification of the Shares for offer and sale under state securities laws as provided in Section
          6(g) hereof, including filing fees and the reasonable fees and disbursements of counsel for the Underwriters in connection with such qualification and in connection with the Blue Sky or Legal Investment memorandum (such fees and disbursements not
          to exceed $10,000), (iv) all filing fees and the reasonable fees and disbursements of counsel to the Underwriters incurred in connection with the review and qualification of the offering of the Shares by the Financial Industry Regulatory
          Authority (such fees and disbursements not to exceed $15,000), (v) all costs and expenses incident to listing the Shares on the Nasdaq Global Select Market, (vi) the cost of printing certificates representing the Shares, (vii) the costs and
          charges of any transfer agent, registrar or depositary, (viii) the costs and expenses of the Company relating to investor presentations on any &#8220;road show&#8221; undertaken in connection with the marketing of the offering of the Shares, including,
          without limitation, expenses associated with the preparation or dissemination of any electronic road show, expenses associated with the production of road show slides and graphics, fees and expenses of any consultants engaged in connection with
          the road show presentations with the prior approval of the Company, travel and lodging expenses of the representatives and officers of the Company and any such consultants, and 50% of the cost of any aircraft chartered in connection with the road
          show (with the remaining 50% of the cost of such aircraft to be paid by the Underwriters), (ix) the document production charges and expenses associated with printing this Agreement and (x) all other costs and expenses incident to the performance
          of the obligations of the Company hereunder for which provision is not otherwise made in this Section.&#160; It is understood, however, that except as provided in this Section, Section 8 entitled &#8220;Indemnity and Contribution&#8221; and the last paragraph of
          Section 10 below, the Underwriters will pay all of their costs and expenses, including fees and disbursements of their counsel, stock transfer taxes payable on resale of any of the Shares by them and any advertising expenses connected with any
          offers they may make.</font></div>
      <div><br>
      </div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">18</font></div>
        <div id="DSPFPageBreak" style="page-break-after:always;">
          <hr style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;" noshade="noshade"></div>
      </div>
      <div style="text-align: left; text-indent: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">(j)</font>&#160;&#160; &#160; &#160;&#160;&#160;&#160;&#160; <font style="font-size: 10pt; font-family: 'Times New Roman';">If the third anniversary of the initial effective
          date of the Registration Statement occurs before all the Shares have been sold by the Underwriters, prior to the third anniversary to file a new shelf registration statement and to take any other action necessary to permit the public offering of
          the Shares to continue without interruption; references herein to the Registration Statement shall include the new registration statement declared effective by the Commission;</font></div>
      <div><br>
      </div>
      <div style="text-align: left; text-indent: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">(k)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 10pt; font-family: 'Times New Roman';">If requested by the Managers, to prepare a final term
          sheet relating to the offering of the Shares, containing only information that describes the final terms of the offering in a form consented to by the Managers, and to file such final term sheet within the period required by Rule 433(d)(5)(ii)
          under the Securities Act following the date the final terms have been established for the offering of the Shares.</font></div>
      <div><br>
      </div>
      <div style="text-align: left; text-indent: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">(l)</font>&#160;&#160;&#160;&#160;&#160; &#160; &#160;&#160; <font style="font-size: 10pt; font-family: 'Times New Roman';">The Company also covenants with each Underwriter
          that, without the prior written consent of the Manager identified in Schedule I with the authorization to release any lock-up agreement on behalf of the Underwriters, it will not, during the restricted period set forth in Schedule I hereto (the &#8220;<font style="font-size: 10pt; font-family: 'Times New Roman'; font-weight: bold;">Restricted Period</font>&#8221;), (1) offer, pledge, sell, contract to sell, sell any option or contract to purchase, purchase any option or contract to sell, grant any
          option, right or warrant to purchase, lend, or otherwise transfer or dispose of, directly or indirectly, any shares of Common Stock or any securities convertible into or exercisable or exchangeable for Common Stock or (2) enter into any swap or
          other arrangement that transfers to another, in whole or in part, any of the economic consequences of ownership of the Common Stock, whether any such transaction described in clause (1) or (2) above is to be settled by delivery of Common Stock or
          such other securities, in cash or otherwise or (3) file any registration statement with the Commission relating to the offering of any shares of Common Stock or any securities convertible into or exercisable or exchangeable for Common Stock.&#160; The
          foregoing sentence shall not apply to (a) the Shares to be sold hereunder, (b) the issuance by the Company of shares of Common Stock upon the exercise of an option or warrant or the conversion of a security outstanding on the date hereof of which
          the Underwriters have been advised in writing, (c) any shares of Common Stock issued or options to purchase Common Stock granted pursuant to existing employee benefit plans of the Company referred to in the Registration Statement, the Time of
          Sale Prospectus and the Prospectus, (d) any shares of Common Stock issued pursuant to any employee stock purchase plan, non-employee director stock plan or dividend reinvestment plan referred to in the Registration Statement, the Time of Sale
          Prospectus and the Prospectus, (e) securities issued by the Company in connection with joint ventures, commercial relationships or other strategic transactions provided that (x) the aggregate number of shares issued pursuant to this clause (e)
          shall not exceed 5.0% of the total number of outstanding shares of Common Stock immediately following the issuance and sale of the Shares at the Closing Date pursuant hereto and (y) any such shares of Common Stock and securities issued pursuant
          to this clause (e) during the Restricted Period described above shall be subject to the restrictions described above for the remainder of such Restricted Period and the recipient of any such shares of Common Stock or other securities shall enter
          into an agreement substantially in the form of <font style="font-size: 10pt; font-family: 'Times New Roman';"><u>Exhibit A</u></font> attached hereto; or (f) the filing by the Company of a registration statement on Form S-8.</font></div>
      <div><br>
      </div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">19</font></div>
        <div id="DSPFPageBreak" style="page-break-after:always;">
          <hr style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;" noshade="noshade"></div>
      </div>
      <div style="text-align: left; text-indent: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">(m)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-size: 10pt; font-family: 'Times New Roman';">To pay the required Commission filing fees relating to
          the Shares within the time required by Rule 456(b)(1)(i) under the Securities Act without regard to the proviso therein and otherwise in accordance with Rules 456(b) and 457(r) under the Securities Act (including, if applicable, by updating the
          &#8220;Calculation of Registration Fee&#8221; table in accordance with Rule 456(b)(1)(ii) either in a post-effective amendment to the Registration Statement or on the cover page of a prospectus filed pursuant to Rule 424(b)).</font></div>
      <div><br>
      </div>
      <div style="text-align: left; text-indent: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">7.</font>&#160;&#160;&#160;&#160;&#160;&#160; &#160; &#160; <font style="font-size: 10pt; font-family: 'Times New Roman';"><font style="font-size: 10pt; font-style: italic;">Covenants


            of the Underwriters</font>.&#160; Each Underwriter severally covenants with the Company not to take any action that would result in the Company being required to file with the Commission under Rule 433(d) a free writing prospectus prepared by or on
          behalf of such Underwriter that otherwise would not be required to be filed by the Company thereunder, but for the action of the Underwriter.</font></div>
      <div><br>
      </div>
      <div style="text-align: left; text-indent: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">8.</font>&#160;&#160; &#160;&#160; &#160;&#160;&#160;&#160;&#160; <font style="font-size: 10pt; font-family: 'Times New Roman';"><font style="font-size: 10pt; font-family: 'Times
            New Roman'; font-style: italic;"><font style="font-style: italic;">Indemnity and Contribution</font>.</font>&#160; (a) The Company agrees to indemnify and hold harmless each Underwriter, each person, if any, who controls any Underwriter within the
          meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act, each affiliate of any Underwriter within the meaning of Rule 405 under the Securities Act and each selling agent of any Underwriter from and against any and all
          losses, claims, damages and liabilities (including, without limitation, any legal or other expenses reasonably incurred in connection with defending or investigating any such action or claim) caused by any untrue statement or alleged untrue
          statement of a material fact contained in the Registration Statement or any amendment thereof, any preliminary prospectus, the Time of Sale Prospectus or any amendment or supplement thereto, any issuer free writing prospectus as defined in Rule
          433(h) under the Securities Act, any Company information that the Company has filed, or is required to file, pursuant to Rule 433(d) under the Securities Act, any &#8220;road show&#8221; as defined in Rule 433(h) under the Securities Act (a &#8220;<font style="font-size: 10pt; font-family: 'Times New Roman'; font-weight: bold;">road show</font>&#8221;), or the Prospectus or any amendment or supplement thereto, or caused by any omission or alleged omission to state therein a material fact required to
          be stated therein or necessary to make the statements therein not misleading, except insofar as such losses, claims, damages or liabilities are caused by any such untrue statement or omission or alleged untrue statement or omission based upon
          information relating to any Underwriter Information furnished to the Company in writing by such Underwriter through you expressly for use therein.</font></div>
      <div><br>
      </div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">20</font></div>
        <div id="DSPFPageBreak" style="page-break-after:always;">
          <hr style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;" noshade="noshade"></div>
      </div>
      <div style="text-align: left; text-indent: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">(b)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 10pt; font-family: 'Times New Roman';">Each Underwriter agrees, severally and not jointly, to
          indemnify and hold harmless the Company, its directors, its officers who sign the Registration Statement and each person, if any, who controls the Company within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange
          Act to the same extent as the foregoing indemnity from the Company to such Underwriter, but only with reference to information relating to such Underwriter Information furnished to the Company in writing by such Underwriter through you expressly
          for use in the Registration Statement, any preliminary prospectus, the Time of Sale Prospectus, any issuer free writing prospectus, road show, or the Prospectus or any amendment or supplement thereto.</font></div>
      <div><br>
      </div>
      <div style="text-align: left; text-indent: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">(c)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 10pt; font-family: 'Times New Roman';">In case any proceeding (including any governmental
          investigation) shall be instituted involving any person in respect of which indemnity may be sought pursuant to Section 8(a) or 8(b), such person (the &#8220;<font style="font-size: 10pt; font-family: 'Times New Roman'; font-weight: bold;">indemnified
            party</font>&#8221;) shall promptly notify the person against whom such indemnity may be sought (the &#8220;<font style="font-size: 10pt; font-family: 'Times New Roman'; font-weight: bold;">indemnifying party</font>&#8221;) in writing and the indemnifying party,
          upon request of the indemnified party, shall retain counsel reasonably satisfactory to the indemnified party to represent the indemnified party and any others the indemnifying party may designate in such proceeding and shall pay the reasonably
          incurred fees and disbursements of such counsel related to such proceeding.&#160; In any such proceeding, any indemnified party shall have the right to retain its own counsel, but the fees and expenses of such counsel shall be at the expense of such
          indemnified party unless (i) the indemnifying party and the indemnified party shall have mutually agreed to the retention of such counsel or (ii) the named parties to any such proceeding (including any impleaded parties) include both the
          indemnifying party and the indemnified party and representation of both parties by the same counsel would be inappropriate due to actual or potential differing interests between them.&#160; It is understood that the indemnifying party shall not, in
          respect of the legal expenses of any indemnified party in connection with any proceeding or related proceedings in the same jurisdiction, be liable for the reasonably incurred fees and expenses of more than one separate firm (in addition to any
          local counsel) for all such indemnified parties and that all such fees and expenses shall be reimbursed as they are incurred.&#160; Such firm shall be designated in writing by the Manager authorized to appoint counsel under this Section set forth in
          Schedule I hereto, in the case of parties indemnified pursuant to Section 8(a), and by the Company, in the case of parties indemnified pursuant to Section 8(b).&#160; The indemnifying party shall not be liable for any settlement of any proceeding
          effected without its written consent, but if settled with such consent or if there be a final judgment for the plaintiff, the indemnifying party agrees to indemnify the indemnified party from and against any loss or liability by reason of such
          settlement or judgment.&#160; Notwithstanding the foregoing sentence, if at any time an indemnified party shall have requested an indemnifying party to reimburse the indemnified party for fees and expenses of counsel as contemplated by the second and
          third sentences of this paragraph, the indemnifying party agrees that it shall be liable for any settlement of any proceeding effected without its written consent if (i) such settlement is entered into more than 30 days after receipt by such
          indemnifying party of the aforesaid request and (ii) such indemnifying party shall not have reimbursed the indemnified party in accordance with such request prior to the date of such settlement.&#160; No indemnifying party shall, without the prior
          written consent of the indemnified party, effect any settlement of any pending or threatened proceeding in respect of which any indemnified party is or could have been a party and indemnity could have been sought hereunder by such indemnified
          party, unless such settlement includes an unconditional release of such indemnified party from all liability on claims that are the subject matter of such proceeding.</font></div>
      <div><br>
      </div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">21</font></div>
        <div id="DSPFPageBreak" style="page-break-after:always;">
          <hr style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;" noshade="noshade"></div>
      </div>
      <div style="text-align: left; text-indent: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">(d)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 10pt; font-family: 'Times New Roman';">To the extent the indemnification provided for in
          Section 8(a) or 8(b) is unavailable to an indemnified party or insufficient in respect of any losses, claims, damages or liabilities referred to therein, then each indemnifying party under such paragraph, in lieu of indemnifying such indemnified
          party thereunder, shall contribute to the amount paid or payable by such indemnified party as a result of such losses, claims, damages or liabilities (i) in such proportion as is appropriate to reflect the relative benefits received by the
          Company on the one hand and the Underwriters on the other hand from the offering of the Shares or (ii) if the allocation provided by clause 8(d)(i) above is not permitted by applicable law, in such proportion as is appropriate to reflect not only
          the relative benefits referred to in clause 8(d)(i) above but also the relative fault of the Company on the one hand and of the Underwriters on the other hand in connection with the statements or omissions that resulted in such losses, claims,
          damages or liabilities, as well as any other relevant equitable considerations.&#160; The relative benefits received by the Company on the one hand and the Underwriters on the other hand in connection with the offering of the Shares shall be deemed to
          be in the same respective proportions as the net proceeds from the offering of the Shares (before deducting expenses) received by the Company and the total underwriting discounts and commissions received by the Underwriters bear to the aggregate
          initial public offering price of the Shares set forth in the Prospectus.&#160; The relative fault of the Company on the one hand and the Underwriters on the other hand shall be determined by reference to, among other things, whether the untrue or
          alleged untrue statement of a material fact or the omission or alleged omission to state a material fact relates to information supplied by the Company or by the Underwriters and the parties&#8217; relative intent, knowledge, access to information and
          opportunity to correct or prevent such statement or omission.&#160; The Underwriters&#8217; respective obligations to contribute pursuant to this Section 8 are several in proportion to the respective number of Shares they have purchased hereunder, and not
          joint.</font></div>
      <div style="text-align: left; text-indent: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';"> <br>
        </font></div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">22</font></div>
        <div id="DSPFPageBreak" style="page-break-after:always;">
          <hr style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;" noshade="noshade"></div>
      </div>
      <div style="text-align: left; text-indent: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">(e)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 10pt; font-family: 'Times New Roman';">The Company and the Underwriters agree that it would
          not be just or equitable if contribution pursuant to this Section 8 were determined by <font style="font-size: 10pt; font-family: 'Times New Roman'; font-style: italic;">pro rata</font> allocation (even if the Underwriters were treated as one
          entity for such purpose) or by any other method of allocation that does not take account of the equitable considerations referred to in Section 8(d).&#160; The amount paid or payable by an indemnified party as a result of the losses, claims, damages
          and liabilities referred to in Section 8(d) shall be deemed to include, subject to the limitations set forth above, any legal or other expenses reasonably incurred by such indemnified party in connection with investigating or defending any such
          action or claim.&#160; Notwithstanding the provisions of this Section 8, no Underwriter shall be required to contribute any amount in excess of the amount by which the total price at which the Shares underwritten by it and distributed to the public
          were offered to the public exceeds the amount of any damages that such Underwriter has otherwise been required to pay by reason of such untrue or alleged untrue statement or omission or alleged omission.&#160; No person guilty of fraudulent
          misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any person who was not guilty of such fraudulent misrepresentation.&#160; The remedies provided for in this Section 8 are not
          exclusive and shall not limit any rights or remedies which may otherwise be available to any indemnified party at law or in equity.</font></div>
      <div><br>
      </div>
      <div style="text-align: left; text-indent: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">(f)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 10pt; font-family: 'Times New Roman';">The indemnity and contribution provisions contained in
          this Section 8 and the representations, warranties and other statements of the Company contained in this Agreement shall remain operative and in full force and effect regardless of (i) any termination of this Agreement, (ii) any investigation
          made by or on behalf of any Underwriter, any person controlling any Underwriter or any affiliate of any Underwriter or by or on behalf of the Company, its officers or directors or any person controlling the Company and (iii) acceptance of and
          payment for any of the Shares.</font></div>
      <div><br>
      </div>
      <div style="text-align: left; text-indent: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">9.</font>&#160;&#160;&#160;&#160; &#160; &#160;&#160;&#160; <font style="font-size: 10pt; font-family: 'Times New Roman';"><font style="font-size: 10pt; font-style: italic;">Termination</font>.&#160;


          The Underwriters may terminate this Agreement by notice given by you to the Company, if&#160; after the execution and delivery of this Agreement and prior to the Closing Date (i) trading generally shall have been suspended or materially limited on, or
          by, as the case may be, any of the New York Stock Exchange, the NYSE American, the Nasdaq Global Market, the Chicago Board Options Exchange, the Chicago Mercantile Exchange or the Chicago Board of Trade, (ii) trading of any securities of the
          Company shall have been suspended on any exchange or in any over&#8209;the&#8209;counter market, (iii) a material disruption in securities settlement, payment or clearance services in the United States shall have occurred, (iv) any moratorium on commercial
          banking activities shall have been declared by Federal or New York State authorities or (v) there shall have occurred any outbreak or escalation of hostilities, or any change in financial markets or any calamity or crisis that, in your judgment,
          is material and adverse and which, singly or together with any other event specified in this clause (v), makes it, in your judgment, impracticable or inadvisable to proceed with the offer, sale or delivery of the Shares on the terms and in the
          manner contemplated in the Time of Sale Prospectus or the Prospectus.</font></div>
      <div><br>
      </div>
      <div style="text-align: left; text-indent: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">10.</font>&#160;&#160;&#160;&#160;&#160;&#160; &#160;&#160; <font style="font-size: 10pt; font-family: 'Times New Roman';"><font style="font-size: 10pt; font-style: italic;">Effectiveness;


            Defaulting Underwriters</font>.&#160; This Agreement shall become effective upon the execution and delivery hereof by the parties hereto.</font></div>
      <div><br>
      </div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">23</font></div>
        <div id="DSPFPageBreak" style="page-break-after:always;">
          <hr style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;" noshade="noshade"></div>
      </div>
      <div style="text-align: left; text-indent: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">If, on the Closing Date or an Option Closing Date, as the case may be, any one or more of the Underwriters shall fail or refuse to
          purchase Shares that it has or they have agreed to purchase hereunder on such date, and the aggregate number of Shares which such defaulting Underwriter or Underwriters agreed but failed or refused to purchase is not more than one&#8209;tenth of the
          aggregate number of the Shares to be purchased on such date, the other Underwriters shall be obligated severally in the proportions that the number of Firm Shares set forth opposite their respective names in Schedule II bears to the aggregate
          number of Firm Shares set forth opposite the names of all such non&#8209;defaulting Underwriters, or in such other proportions as you may specify, to purchase the Shares which such defaulting Underwriter or Underwriters agreed but failed or refused to
          purchase on such date; <font style="font-size: 10pt; font-family: 'Times New Roman'; font-style: italic;">provided</font> that in no event shall the number of Shares that any Underwriter has agreed to purchase pursuant to this Agreement be
          increased pursuant to this Section 10 by an amount in excess of one&#8209;ninth of such number of Shares without the written consent of such Underwriter.&#160; If, on the Closing Date, any Underwriter or Underwriters shall fail or refuse to purchase Firm
          Shares and the aggregate number of Firm Shares with respect to which such default occurs is more than one&#8209;tenth of the aggregate number of Firm Shares to be purchased on such date, and arrangements satisfactory to you and the Company for the
          purchase of such Firm Shares are not made within 36 hours after such default, this Agreement shall terminate without liability on the part of any non&#8209;defaulting Underwriter or the Company.&#160; In any such case either you or the Company shall have
          the right to postpone the Closing Date, but in no event for longer than seven days, in order that the required changes, if any, in the Registration Statement, in the Time of Sale Prospectus, in the Prospectus or in any other documents or
          arrangements may be effected.&#160; If, on an Option Closing Date, any Underwriter or Underwriters shall fail or refuse to purchase Additional Shares and the aggregate number of Additional Shares with respect to which such default occurs is more than
          one&#8209;tenth of the aggregate number of Additional Shares to be purchased on such Option Closing Date, the non-defaulting Underwriters shall have the option to (i) terminate their obligation hereunder to purchase the Additional Shares to be sold on
          such Option Closing Date or (ii) purchase not less than the number of Additional Shares that such non-defaulting Underwriters would have been obligated to purchase in the absence of such default.&#160; Any action taken under this paragraph shall not
          relieve any defaulting Underwriter from liability in respect of any default of such Underwriter under this Agreement.</font></div>
      <div><br>
      </div>
      <div style="text-align: left; text-indent: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">If this Agreement shall be terminated by the Underwriters, or any of them, because of any failure or refusal on the part of the Company
          to comply with the terms or to fulfill any of the conditions of this Agreement, or if for any reason the Company shall be unable to perform its obligations under this Agreement, the Company will reimburse the Underwriters or such Underwriters as
          have so terminated this Agreement with respect to themselves, severally, for all out&#8209;of&#8209;pocket expenses (including the fees and disbursements of their counsel) reasonably incurred by such Underwriters in connection with this Agreement or the
          offering contemplated hereunder.</font></div>
      <div><br>
      </div>
      <div style="text-align: left; text-indent: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">11.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-style: italic;">&#160;</font><font style="font-size: 10pt; font-family: 'Times New Roman';"><font style="font-size: 10pt; font-style: italic;">Recognition of the U.S. Special Resolution Regimes</font>.&#160; (a)&#160; In the event that any Underwriter that is a Covered Entity becomes subject to a proceeding under a U.S. Special Resolution Regime, the
          transfer from such Underwriter of this Agreement, and any interest and obligation in or under this Agreement, will be effective to the same extent as the transfer would be effective under the U.S. Special Resolution Regime if this Agreement, and
          any such interest and obligation, were governed by the laws of the United States or a state of the United States.</font></div>
      <div><br>
      </div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">24</font></div>
        <div id="DSPFPageBreak" style="page-break-after:always;">
          <hr style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;" noshade="noshade"></div>
      </div>
      <div style="text-align: left; text-indent: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">(b)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 10pt; font-family: 'Times New Roman';">In the event that any Underwriter that is a Covered
          Entity or a BHC Act Affiliate of such Underwriter becomes subject to a proceeding under a U.S. Special Resolution Regime, Default Rights under this Agreement that may be exercised against such Underwriter are permitted to be exercised to no
          greater extent than such Default Rights could be exercised under the U.S. Special Resolution Regime if this Agreement were governed by the laws of the United States or a state of the United States.</font></div>
      <div><br>
      </div>
      <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">For purposes of this Agreement, (A) &#8220;<font style="font-size: 10pt; font-family: 'Times New Roman'; font-weight: bold;">BHC Act Affiliate</font>&#8221; has the
          meaning assigned to the term &#8220;affiliate&#8221; in, and shall be interpreted in accordance with, 12 U.S.C. &#167; 1841(k); (B) &#8220;<font style="font-size: 10pt; font-family: 'Times New Roman'; font-weight: bold;">Covered Entity</font>&#8221; means any of the
          following: (i) a &#8220;covered entity&#8221; as that term is defined in, and interpreted in accordance with, 12 C.F.R. &#167; 252.82(b); (ii) a &#8220;covered bank&#8221; as that term is defined in, and interpreted in accordance with, 12 C.F.R. &#167; 47.3(b); or (iii) a
          &#8220;covered FSI&#8221; as that term is defined in, and interpreted in accordance with, 12 C.F.R. &#167; 382.2(b); (C) &#8220;<font style="font-size: 10pt; font-family: 'Times New Roman'; font-weight: bold;">Default Right</font>&#8221; has the meaning assigned to that term
          in, and shall be interpreted in accordance with, 12 C.F.R. &#167;&#167; 252.81, 47.2 or 382.1, as applicable; and (D) &#8220;<font style="font-size: 10pt; font-family: 'Times New Roman'; font-weight: bold;">U.S. Special Resolution Regime</font>&#8221; means each of
          (i) the Federal Deposit Insurance Act and the regulations promulgated thereunder and (ii) Title II of the Dodd-Frank Wall Street Reform and Consumer Protection Act and the regulations promulgated thereunder</font></div>
      <div><br>
      </div>
      <div style="text-align: left; text-indent: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">12.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 10pt; font-family: 'Times New Roman';"><font style="font-size: 10pt; font-style: italic;">Entire


            Agreement</font>.&#160; (a) This Agreement, together with any contemporaneous written agreements and any prior written agreements (to the extent not superseded by this Agreement) that relate to the offering of the Shares, represents the entire
          agreement between the Company and the Underwriters with respect to the preparation of any preliminary prospectus, the Time of Sale Prospectus, the Prospectus, the conduct of the offering, and the purchase and sale of the Shares.</font></div>
      <div><br>
      </div>
      <div style="text-align: left; text-indent: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">(b)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 10pt; font-family: 'Times New Roman';">The Company acknowledges that in connection with the
          offering of the Shares: (i) the Underwriters have acted at arms length, are not agents of, and owe no fiduciary duties to, the Company or any other person, (ii) the Underwriters owe the Company only those duties and obligations set forth in this
          Agreement and prior written agreements (to the extent not superseded by this Agreement), if any, and (iii) the Underwriters may have interests that differ from those of the Company.&#160; The Company waives to the full extent permitted by applicable
          law any claims it may have against the Underwriters arising from an alleged breach of fiduciary duty in connection with the offering of the Shares.</font></div>
      <div><br>
      </div>
      <div style="text-align: left; text-indent: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">13.</font>&#160;&#160;&#160; &#160;&#160;&#160;&#160; <font style="font-size: 10pt; font-family: 'Times New Roman';"><font style="font-size: 10pt; font-style: italic;">Counterparts</font>.&#160;


          This Agreement may be signed in two or more counterparts, each of which shall be an original, with the same effect as if the signatures thereto and hereto were upon the same instrument.</font></div>
      <div><br>
      </div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">25</font></div>
        <div id="DSPFPageBreak" style="page-break-after:always;">
          <hr style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;" noshade="noshade"></div>
      </div>
      <div style="text-align: left; text-indent: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">14.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 10pt; font-family: 'Times New Roman';"><font style="font-size: 10pt; font-style: italic;">Applicable


            Law</font>.&#160; This Agreement, and any claim, controversy or dispute arising under or related to this Agreement, shall be governed by and construed in accordance with the internal laws of the State of New York.</font></div>
      <div><br>
      </div>
      <div style="text-align: left; text-indent: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">15.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 10pt; font-family: 'Times New Roman';"><font style="font-size: 10pt; font-style: italic;">Headings</font>.&#160;


          The headings of the sections of this Agreement have been inserted for convenience of reference only and shall not be deemed a part of this Agreement.</font></div>
      <div><br>
      </div>
      <div style="text-align: left; text-indent: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">16.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 10pt; font-family: 'Times New Roman';"><font style="font-size: 10pt; font-style: italic;">Notices</font>.&#160;


          All communications hereunder shall be in writing and effective only upon receipt and if to the Underwriters shall be delivered, mailed or sent to you at the address set forth in Schedule I hereto; and if to the Company shall be delivered, mailed
          or sent to the address set forth in Schedule I hereto.</font></div>
      <div><br>
      </div>
      <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman';">[<font style="font-size: 10pt; font-family: 'Times New Roman'; font-style: italic;">Signature page follows</font>]</font></div>
      <div><br>
      </div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">26</font></div>
        <div id="DSPFPageBreak" style="page-break-after:always;">
          <hr style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;" noshade="noshade"></div>
      </div>
      <table id="zf1e6418921e249d69c6d5a470f71f609" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; border-collapse: collapse;" border="0" cellpadding="0" cellspacing="0">

          <tr>
            <td style="width: 50%; vertical-align: top;">&#160;</td>
            <td style="vertical-align: top;" colspan="2">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">Very truly yours,</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 50%; vertical-align: top;">&#160;</td>
            <td style="width: 3%; vertical-align: top;">&#160;</td>
            <td style="width: 47%; vertical-align: top;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 50%; vertical-align: top;">&#160;</td>
            <td style="vertical-align: top;" colspan="2">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">MACROGENICS, INC.</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 50%; vertical-align: top;">&#160;</td>
            <td style="vertical-align: top;" colspan="2">&#160;</td>
          </tr>
          <tr>
            <td style="width: 50%; vertical-align: top; padding-bottom: 2px;">&#160;</td>
            <td style="width: 3%; vertical-align: top; padding-bottom: 2px;">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">By:</font></div>
            </td>
            <td style="width: 47%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">/s/ James Karrels</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 50%; vertical-align: top;">&#160;</td>
            <td style="width: 3%; vertical-align: top;">&#160;</td>
            <td style="width: 47%; vertical-align: top;">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">Name: James Karrels</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 50%; vertical-align: top;">&#160;</td>
            <td style="width: 3%; vertical-align: top;">&#160;</td>
            <td style="width: 47%; vertical-align: top;">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">Title:&#160; &#160; Senior Vice President and Chief Financial Officer</font></div>
            </td>
          </tr>

      </table>
      <div><br>
      </div>
      <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman';">[<font style="font-size: 10pt; font-family: 'Times New Roman'; font-style: italic;">Signature page to Underwriting Agreement</font>]</font></div>
      <div><br>
      </div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">27</font></div>
        <div id="DSPFPageBreak" style="page-break-after:always;">
          <hr style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;" noshade="noshade"></div>
      </div>
      <table id="z2018947ba5914db99eabbbcd16c46de7" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; border-collapse: collapse;" border="0" cellpadding="0" cellspacing="0">

          <tr>
            <td style="width: 3%; vertical-align: top;" rowspan="1" colspan="3"><font style="font-size: 10pt; font-family: 'Times New Roman';">Accepted as of the date hereof</font>&#160; <br>
            </td>
            <td style="width: 50%; vertical-align: top;" colspan="1" rowspan="1">&#160;</td>
          </tr>
          <tr>
            <td style="width: 3%; vertical-align: top;" rowspan="1">&#160;</td>
            <td style="vertical-align: top;" colspan="2" rowspan="1">&#160;</td>
            <td style="width: 50%; vertical-align: top;" colspan="1" rowspan="1">&#160;</td>
          </tr>
          <tr>
            <td style="width: 3%; vertical-align: top;" rowspan="1" colspan="3"><font style="font-size: 10pt; font-family: 'Times New Roman';">SVB Leerink LLC</font></td>
            <td style="width: 50%; vertical-align: top;" colspan="1" rowspan="1">&#160;</td>
          </tr>
          <tr>
            <td style="width: 3%; vertical-align: top;" rowspan="1" colspan="3"><font style="font-size: 10pt; font-family: 'Times New Roman';">Evercore Group L.L.C.</font></td>
            <td style="width: 50%; vertical-align: top;" colspan="1" rowspan="1">&#160;</td>
          </tr>
          <tr>
            <td style="width: 3%; vertical-align: top;" rowspan="1">&#160;</td>
            <td style="vertical-align: top;" colspan="2" rowspan="1">&#160;</td>
            <td style="width: 50%; vertical-align: top;" colspan="1" rowspan="1">&#160;</td>
          </tr>
          <tr>
            <td style="width: 3%; vertical-align: top;" rowspan="1" colspan="3">
              <div style="text-align: left; text-indent: -18pt; margin-left: 18pt;"><font style="font-size: 10pt; font-family: &quot;Times New Roman&quot;;">Acting severally on behalf of themselves</font><font style="font-size: 10pt; font-family:
                  &quot;Times New Roman&quot;;"> and the several Underwriters named in Schedule II hereto.</font></div>
            </td>
            <td style="width: 50%; vertical-align: top;" colspan="1" rowspan="1">&#160;</td>
          </tr>
          <tr>
            <td style="width: 3%; vertical-align: top;" rowspan="1">&#160;</td>
            <td style="vertical-align: top;" colspan="2" rowspan="1">&#160;</td>
            <td style="width: 50%; vertical-align: top;" colspan="1" rowspan="1">&#160;</td>
          </tr>
          <tr>
            <td style="width: 3%; vertical-align: top;">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">By:</font></div>
            </td>
            <td style="vertical-align: top;" colspan="2">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">SVB Leerink LLC</font></div>
            </td>
            <td style="width: 50%; vertical-align: top;" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td style="width: 3%; vertical-align: top;" rowspan="1">&#160;</td>
            <td style="vertical-align: top;" colspan="2" rowspan="1">&#160;</td>
            <td style="width: 50%; vertical-align: top;" colspan="1" rowspan="1">&#160;</td>
          </tr>
          <tr>
            <td style="width: 3%; vertical-align: top; padding-bottom: 2px;">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">By:</font></div>
            </td>
            <td style="vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);" colspan="2">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">/s/ Gabriel P. Cavazos</font></div>
            </td>
            <td style="width: 50%; vertical-align: top; padding-bottom: 2px;" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td style="width: 3%; vertical-align: top;">&#160;</td>
            <td style="width: 4%; vertical-align: top;">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">Name:</font></div>
            </td>
            <td style="width: 43%; vertical-align: top;">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">Gabriel P. Cavazos</font></div>
            </td>
            <td style="width: 50%; vertical-align: top;" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td style="width: 3%; vertical-align: top;">&#160;</td>
            <td style="width: 4%; vertical-align: top;">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">Title:</font></div>
            </td>
            <td style="width: 43%; vertical-align: top;">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">Managing Director</font></div>
            </td>
            <td style="width: 50%; vertical-align: top;" colspan="1">&#160;</td>
          </tr>

      </table>
      <div><br>
      </div>
      <table id="z90f62aa344534c73a58977aede50a882" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; border-collapse: collapse;" border="0" cellpadding="0" cellspacing="0">

          <tr>
            <td style="width: 3%; vertical-align: top;">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">By:</font></div>
            </td>
            <td style="width: 47%; vertical-align: top;">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">Evercore Group L.L.C.</font></div>
            </td>
            <td style="width: 50%; vertical-align: top;" colspan="1">&#160;</td>
          </tr>

      </table>
      <div><br>
      </div>
      <table id="zf70933f9c19f4ff08aa003a4ae77b8f1" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; border-collapse: collapse;" cellpadding="0" cellspacing="0">

          <tr>
            <td style="width: 3%; vertical-align: top;">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">By:</font></div>
            </td>
            <td style="vertical-align: top;" colspan="2">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">/s/ Jeffrey B. Rosichan</font></div>
            </td>
            <td style="width: 50%; vertical-align: top;" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td style="width: 3%; vertical-align: top; padding-bottom: 2px;">&#160;</td>
            <td style="width: 4%; vertical-align: top; padding-bottom: 2px;">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">Name:</font></div>
            </td>
            <td style="width: 43%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">Jeffrey B. Rosichan</font></div>
            </td>
            <td style="width: 50%; vertical-align: top; padding-bottom: 2px;" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td style="width: 3%; vertical-align: top;">&#160;</td>
            <td style="width: 4%; vertical-align: top;">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">Title:</font></div>
            </td>
            <td style="width: 43%; vertical-align: top;">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">Senior Managing Director</font></div>
            </td>
            <td style="width: 50%; vertical-align: top;" colspan="1">&#160;</td>
          </tr>

      </table>
      <div><br>
      </div>
      <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman';">[<font style="font-size: 10pt; font-family: 'Times New Roman'; font-style: italic;">Signature page to Underwriting Agreement</font>]</font></div>
      <div><br>
      </div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">28</font></div>
        <div id="DSPFPageBreak" style="page-break-after:always;">
          <hr style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;" noshade="noshade"></div>
      </div>
      <!--PROfilePageNumberReset%Num%1%I-%%-->
      <div style="text-align: right;"><font style="font-size: 10pt; font-family: 'Times New Roman'; font-weight: bold;"> SCHEDULE I</font></div>
      <div style="text-align: right;"><font style="font-size: 10pt; font-family: 'Times New Roman'; font-weight: bold;"> <br>
        </font></div>
      <table id="zc944d9b28f6245898373cf723eeebf77" style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; width: 100%; border-collapse: collapse;" border="0" cellpadding="4" cellspacing="0">

          <tr>
            <td style="width: 50%; vertical-align: top; border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">
              <div style="text-align: left; text-indent: -9pt; margin-left: 9pt;"><font style="font-size: 10pt; font-family: &quot;Times New Roman&quot;;">Managers:</font></div>
            </td>
            <td style="vertical-align: top; border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0); width: 50%;">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: &quot;Times New Roman&quot;;">SVB Leerink LLC&#160; </font></div>
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: &quot;Times New Roman&quot;;">Evercore Group L.L.C.</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 50%; vertical-align: top; border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">
              <div style="text-align: left; text-indent: -9pt; margin-left: 9pt;"><font style="font-size: 10pt; font-family: &quot;Times New Roman&quot;;">Manager authorized to release lock-up under Section 6:</font></div>
            </td>
            <td style="vertical-align: top; border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0); width: 50%;">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: &quot;Times New Roman&quot;;">SVB Leerink LLC&#160; </font></div>
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: &quot;Times New Roman&quot;;">Evercore Group L.L.C.</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 50%; vertical-align: top; border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">
              <div style="text-align: left; text-indent: -9pt; margin-left: 9pt;"><font style="font-size: 10pt; font-family: &quot;Times New Roman&quot;;">Manager authorized to appoint counsel under Section 8(c):</font></div>
            </td>
            <td style="vertical-align: top; border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0); width: 50%;">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: &quot;Times New Roman&quot;;">SVB Leerink LLC&#160; </font></div>
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: &quot;Times New Roman&quot;;">Evercore Group L.L.C.</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 50%; vertical-align: top; border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">
              <div style="text-align: left; text-indent: -9pt; margin-left: 9pt;"><font style="font-size: 10pt; font-family: &quot;Times New Roman&quot;;">Registration Statement File No.:</font></div>
            </td>
            <td style="vertical-align: top; border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0); width: 50%;">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: &quot;Times New Roman&quot;;">333-214385</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 50%; vertical-align: top; border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0); border-top: 2px solid rgb(0, 0, 0);">
              <div style="text-align: left; text-indent: -9pt; margin-left: 9pt;"><font style="font-size: 10pt; font-family: &quot;Times New Roman&quot;;">Time of Sale Prospectus</font></div>
            </td>
            <td style="width: 50%; vertical-align: top; border-left: 2px solid rgb(0, 0, 0); border-top: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);" rowspan="1">
              <div style="text-align: left; text-indent: -18pt; margin-left: 18pt;"><font style="font-size: 10pt; font-family: &quot;Times New Roman&quot;;">1.&#160;&#160;&#160;&#160; Prospectus dated November 2, 2016 relating to the Shelf Securities</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 50%; vertical-align: top; border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0); text-indent: -9pt; margin-left: 9pt;">&#160;</td>
            <td style="width: 50%; vertical-align: top; border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);" rowspan="1">
              <div style="text-align: left; text-indent: -18pt; margin-left: 18pt;"><font style="font-size: 10pt; font-family: &quot;Times New Roman&quot;;">2.&#160;&#160;&#160; The preliminary prospectus supplement dated February 12, 2019 relating to the Shares</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 50%; vertical-align: top; border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0); text-indent: -9pt; margin-left: 9pt;">&#160;</td>
            <td style="width: 50%; vertical-align: top; border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);" rowspan="1">
              <div style="text-align: left; text-indent: -18pt; margin-left: 18pt;"><font style="font-size: 10pt; font-family: &quot;Times New Roman&quot;;">3.&#160;&#160;&#160;&#160; Number of Firm Shares: 5,500,000</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 50%; vertical-align: top; border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0); text-indent: -9pt; margin-left: 9pt;">&#160;</td>
            <td style="width: 50%; vertical-align: top; border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);" rowspan="1">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: &quot;Times New Roman&quot;;">4.&#160;&#160;&#160;&#160; Number of Additional Shares: 825,000</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 50%; vertical-align: top; border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); text-indent: -9pt; margin-left: 9pt;">&#160;</td>
            <td style="width: 50%; vertical-align: top; border-left: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);" rowspan="1">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: &quot;Times New Roman&quot;;">5.&#160;&#160;&#160;&#160; Initial Public Offering Price: $20.00 a share</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 50%; vertical-align: top; border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">
              <div style="text-align: left; text-indent: -9pt; margin-left: 9pt;"><font style="font-size: 10pt; font-family: &quot;Times New Roman&quot;;">Lock-up Restricted Period:</font></div>
            </td>
            <td style="vertical-align: top; border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0); width: 50%;">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: &quot;Times New Roman&quot;;">The period ending 90 days after the date of the Prospectus</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 50%; vertical-align: top; border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">
              <div style="text-align: left; text-indent: -9pt; margin-left: 9pt;"><font style="font-size: 10pt; font-family: &quot;Times New Roman&quot;;">Title of Shares to be purchased:</font></div>
            </td>
            <td style="vertical-align: top; border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0); width: 50%;">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: &quot;Times New Roman&quot;;">Common Stock, par value $0.01 per share</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 50%; vertical-align: top; border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">
              <div style="text-align: left; text-indent: -9pt; margin-left: 9pt;"><font style="font-size: 10pt; font-family: &quot;Times New Roman&quot;;">Number of Firm Shares:</font></div>
            </td>
            <td style="vertical-align: top; border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0); width: 50%;">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: &quot;Times New Roman&quot;;">5,500,000</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 50%; vertical-align: top; border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">
              <div style="text-align: left; text-indent: -9pt; margin-left: 9pt;"><font style="font-size: 10pt; font-family: &quot;Times New Roman&quot;;">Number of Additional Shares</font></div>
            </td>
            <td style="vertical-align: top; border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0); width: 50%;">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: &quot;Times New Roman&quot;;">825,000</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 50%; vertical-align: top; border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">
              <div style="text-align: left; text-indent: -9pt; margin-left: 9pt;"><font style="font-size: 10pt; font-family: &quot;Times New Roman&quot;;">Purchase Price:</font></div>
            </td>
            <td style="vertical-align: top; border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0); width: 50%;">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: &quot;Times New Roman&quot;;">$18.80 a share</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 50%; vertical-align: top; border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">
              <div style="text-align: left; text-indent: -9pt; margin-left: 9pt;"><font style="font-size: 10pt; font-family: &quot;Times New Roman&quot;;">Initial Public Offering Price</font></div>
            </td>
            <td style="vertical-align: top; border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0); width: 50%;">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: &quot;Times New Roman&quot;;">$20.00 a share</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 50%; vertical-align: top; border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">
              <div style="text-align: left; text-indent: -9pt; margin-left: 9pt;"><font style="font-size: 10pt; font-family: &quot;Times New Roman&quot;;">Selling Concession:</font></div>
            </td>
            <td style="vertical-align: top; border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0); width: 50%;">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: &quot;Times New Roman&quot;;">$0.72 a share</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 50%; vertical-align: top; border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">
              <div style="text-align: left; text-indent: -9pt; margin-left: 9pt;"><font style="font-size: 10pt; font-family: &quot;Times New Roman&quot;;">Closing Date and Time:</font></div>
            </td>
            <td style="vertical-align: top; border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0); width: 50%;">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: &quot;Times New Roman&quot;;">February 15, 2019, 10:00 a.m.</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 50%; vertical-align: top; border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">
              <div style="text-align: left; text-indent: -9pt; margin-left: 9pt;"><font style="font-size: 10pt; font-family: &quot;Times New Roman&quot;;">Closing Location:</font></div>
            </td>
            <td style="vertical-align: top; border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0); width: 50%;">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: &quot;Times New Roman&quot;;">Wilmer Cutler Pickering Hale and Dorr LLP</font></div>
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: &quot;Times New Roman&quot;;">7 World Trade Center</font></div>
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: &quot;Times New Roman&quot;;">250 Greenwich Street</font></div>
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: &quot;Times New Roman&quot;;">New York, NY 10007</font></div>
            </td>
          </tr>

      </table>
      <div><br>
      </div>
      <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
        <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-family: &quot;Times New Roman&quot;; font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">I-1</font></div>
        <div style="page-break-after: always;" id="DSPFPageBreak">
          <hr style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;" noshade="noshade"></div>
      </div>
      <table style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; width: 100%; border-collapse: collapse;" border="0" cellpadding="4" cellspacing="0">

          <tr>
            <td style="width: 50%; vertical-align: top; border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">
              <div style="text-align: left; text-indent: -9pt; margin-left: 9pt;"><font style="font-size: 10pt; font-family: &quot;Times New Roman&quot;;">Address for Notices to Underwriters:</font></div>
            </td>
            <td style="vertical-align: top; border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0); width: 50%;">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">c/o SVB Leerink LLC</font></div>
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">One Federal Street &#8211; 37th Floor</font></div>
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">Boston, Massachusetts 02110</font></div>
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">Attention: Jack Fitzgerald</font></div>
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">Fax: 617-918-4664</font></div>
              <div>&#160;</div>
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">c/o Evercore Group L.L.C.</font></div>
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">55 East 52nd Street</font></div>
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">New York, New York 10055</font></div>
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">Attention: General Counsel, Investment Banking</font></div>
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">Telephone: 212-857-3000</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 50%; vertical-align: top; border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">
              <div style="text-align: left; text-indent: -9pt; margin-left: 9pt;"><font style="font-size: 10pt; font-family: &quot;Times New Roman&quot;;">Address for Notices to the Company:</font></div>
            </td>
            <td style="vertical-align: top; border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0); width: 50%;">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">MacroGenics, Inc.</font></div>
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">9704 Medical Center Drive</font></div>
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">Rockville, Maryland 20850</font></div>
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">Attn: Jeffrey Peters, Vice President and General Counsel</font></div>
            </td>
          </tr>

      </table>
      <div><br>
      </div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-family: &quot;Times New Roman&quot;; font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">I-2</font></div>
        <div id="DSPFPageBreak" style="page-break-after:always;">
          <hr style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;" noshade="noshade"></div>
      </div>
      <!--PROfilePageNumberReset%Num%1%II-%%-->
      <div style="text-align: right;"><font style="font-size: 10pt; font-family: 'Times New Roman'; font-weight: bold;">SCHEDULE II</font></div>
      <div><br>
      </div>
      <table style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%;" id="z0f8251b94c69439c905bf08e05e04a80" border="0" cellpadding="0" cellspacing="0">

          <tr>
            <td style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
              <div>
                <div style="text-align: center; text-indent: -9pt; margin-left: 9pt;"><font style="font-size: 10pt; font-family: &amp;quot; font-weight: bold;">Underwriter</font></div>
              </div>
            </td>
            <td style="vertical-align: bottom; padding-bottom: 2px;" colspan="1" valign="bottom">&#160;</td>
            <td style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);" colspan="2" nowrap="nowrap" valign="bottom">
              <div>
                <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman'; font-weight: bold;">Number of Firm Shares</font></div>
                <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman'; font-weight: bold;"> </font></div>
                <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman'; font-weight: bold;"> To Be Purchased</font></div>
              </div>
            </td>
            <td style="text-align: left; vertical-align: bottom; padding-bottom: 2px;" colspan="1" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>
          <tr>
            <td style="vertical-align: top; width: 88%; background-color: #CCEEFF;" valign="bottom">
              <div style="text-align: left; text-indent: -9pt; margin-left: 9pt;"><font style="font-size: 10pt; font-family: &amp;quot;">SVB Leerink LLC&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></div>
            </td>
            <td style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" valign="bottom">&#160;</td>
            <td style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" valign="bottom">&#160;</td>
            <td style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1" valign="bottom">
              <div><font style="font-size: 10pt; font-family: 'Times New Roman';">1,650,000</font></div>
            </td>
            <td style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>
          <tr>
            <td style="vertical-align: top; width: 88%; background-color: #FFFFFF;" valign="bottom">
              <div style="text-align: left; text-indent: -9pt; margin-left: 9pt;"><font style="font-size: 10pt; font-family: &amp;quot;">Evercore Group L.L.C.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></div>
            </td>
            <td style="text-align: right; vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1" valign="bottom">&#160;</td>
            <td style="text-align: left; vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1" valign="bottom">&#160;</td>
            <td style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;" colspan="1" valign="bottom">
              <div><font style="font-size: 10pt; font-family: 'Times New Roman';">1,375,000</font></div>
            </td>
            <td style="text-align: left; vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>
          <tr>
            <td style="vertical-align: top; width: 88%; background-color: #CCEEFF;" valign="bottom">
              <div style="text-align: left; text-indent: -9pt; margin-left: 9pt;"><font style="font-size: 10pt; font-family: &amp;quot;">Credit Suisse Securities (USA) LLC&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></div>
            </td>
            <td style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" valign="bottom">&#160;</td>
            <td style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" valign="bottom">&#160;</td>
            <td style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1" valign="bottom">
              <div><font style="font-size: 10pt; font-family: 'Times New Roman';">618,750</font></div>
            </td>
            <td style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>
          <tr>
            <td style="vertical-align: top; width: 88%; background-color: #FFFFFF;" valign="bottom">
              <div style="text-align: left; text-indent: -9pt; margin-left: 9pt;"><font style="font-size: 10pt; font-family: &amp;quot;">Stifel, Nicolaus &amp; Company, Incorporated&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></div>
            </td>
            <td style="text-align: right; vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1" valign="bottom">&#160;</td>
            <td style="text-align: left; vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1" valign="bottom">&#160;</td>
            <td style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;" colspan="1" valign="bottom">
              <div><font style="font-size: 10pt; font-family: 'Times New Roman';">618,750</font></div>
            </td>
            <td style="text-align: left; vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>
          <tr>
            <td style="vertical-align: top; width: 88%; background-color: #CCEEFF;" valign="bottom">
              <div style="text-align: left; text-indent: -9pt; margin-left: 9pt;"><font style="font-size: 10pt; font-family: &amp;quot;">Nomura Securities International, Inc.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></div>
            </td>
            <td style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" valign="bottom">&#160;</td>
            <td style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" valign="bottom">&#160;</td>
            <td style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1" valign="bottom">
              <div><font style="font-size: 10pt; font-family: 'Times New Roman';">371,250</font></div>
            </td>
            <td style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>
          <tr>
            <td style="vertical-align: top; width: 88%; background-color: #FFFFFF;" valign="bottom">
              <div style="text-align: left; text-indent: -9pt; margin-left: 9pt;"><font style="font-size: 10pt; font-family: &amp;quot;">SunTrust Robinson Humphrey, Inc.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></div>
            </td>
            <td style="text-align: right; vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1" valign="bottom">&#160;</td>
            <td style="text-align: left; vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1" valign="bottom">&#160;</td>
            <td style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;" colspan="1" valign="bottom">
              <div><font style="font-size: 10pt; font-family: 'Times New Roman';">316,250</font></div>
            </td>
            <td style="text-align: left; vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>
          <tr>
            <td style="vertical-align: top; width: 88%; background-color: #CCEEFF;" valign="bottom">
              <div style="text-align: left; text-indent: -9pt; margin-left: 9pt;"><font style="font-size: 10pt; font-family: &amp;quot;">BTIG, LLC&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></div>
            </td>
            <td style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" valign="bottom">&#160;</td>
            <td style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" valign="bottom">&#160;</td>
            <td style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1" valign="bottom">
              <div><font style="font-size: 10pt; font-family: 'Times New Roman';">288,750</font></div>
            </td>
            <td style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>
          <tr>
            <td style="vertical-align: top; width: 88%; padding-bottom: 2px; background-color: #FFFFFF;" valign="bottom">
              <div style="text-align: left; text-indent: -9pt; margin-left: 9pt;"><font style="font-size: 10pt; font-family: &amp;quot;">H.C. Wainwright &amp; Co., LLC&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></div>
            </td>
            <td style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;" colspan="1" valign="bottom">&#160;</td>
            <td style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;" colspan="1" valign="bottom">&#160;</td>
            <td style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;" colspan="1" valign="bottom">
              <div>
                <div><font style="font-size: 10pt; font-family: 'Times New Roman';">261,250</font></div>
              </div>
            </td>
            <td style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;" colspan="1" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>
          <tr>
            <td style="vertical-align: top; width: 88%; padding-bottom: 4px; background-color: #CCEEFF;" valign="bottom">
              <div style="text-align: left; text-indent: -9pt; margin-left: 18pt;"><font style="font-size: 10pt;">Total:<br>
                </font></div>
            </td>
            <td style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;" colspan="1" valign="bottom">&#160;</td>
            <td style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;" colspan="1" valign="bottom">&#160;</td>
            <td style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;" colspan="1" valign="bottom">
              <div>
                <div><font style="font-size: 10pt; font-family: 'Times New Roman';">5,500,000</font></div>
              </div>
            </td>
            <td style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;" colspan="1" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>

      </table>
      <div><br>
      </div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-family: &quot;Times New Roman&quot;; font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">II-1</font></div>
        <div id="DSPFPageBreak" style="page-break-after:always;">
          <hr style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;" noshade="noshade"></div>
      </div>
      <!--PROfilePageNumberReset%Num%1%A-%%-->
      <div style="text-align: right;"><font style="font-size: 10pt; font-family: 'Times New Roman'; font-weight: bold;">EXHIBIT A</font></div>
      <div><br>
      </div>
      <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman'; font-weight: bold;">FORM OF LOCK-UP LETTER</font></div>
      <div><br>
      </div>
      <div style="text-align: right;"><font style="font-size: 10pt; font-family: 'Times New Roman';">[&#8226;], 2019</font></div>
      <div><br>
      </div>
      <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">SVB Leerink LLC</font></div>
      <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">1301 Avenue of the Americas, 12th Floor</font></div>
      <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">New York, New York 10019</font></div>
      <div><br>
      </div>
      <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">Evercore Group L.L.C.</font></div>
      <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">55 East 52nd Street</font></div>
      <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">New York, New York 10055</font></div>
      <div><br>
      </div>
      <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">Re:</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-size: 10pt; font-family: 'Times New Roman';"><font style="font-size: 10pt; font-family: 'Times New Roman';"><u>Proposed



              Public Offering by MacroGenics, Inc.</u></font></font></div>
      <div><br>
      </div>
      <div style="text-align: left; text-indent: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">Dear Sirs:</font></div>
      <div><br>
      </div>
      <div style="text-align: justify; text-indent: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">The undersigned, a stockholder and/or an officer and/or director of MacroGenics, Inc., a Delaware corporation (the &#8220;<font style="font-size: 10pt; font-family: 'Times New Roman'; font-weight: bold;">Company</font>&#8221;), understands that SVB Leerink LLC and Evercore Group L.L.C. (together, the &#8220;<font style="font-size: 10pt; font-family: 'Times New Roman'; font-weight:
            bold;">Representatives</font>&#8221;) propose to enter into an Underwriting Agreement (the &#8220;<font style="font-size: 10pt; font-family: 'Times New Roman'; font-weight: bold;">Underwriting Agreement</font>&#8221;) with the Company providing for the public
          offering of shares (the &#8220;<font style="font-size: 10pt; font-family: 'Times New Roman'; font-weight: bold;">Securities</font>&#8221;) of the Company&#8217;s common stock, par value $0.01 per share (the &#8220;<font style="font-size: 10pt; font-family: 'Times New
            Roman'; font-weight: bold;">Common Stock</font>&#8221;).&#160; In recognition of the benefit that such an offering will confer upon the undersigned as a stockholder and/or an officer and/or director of the Company, as applicable, and for other good and
          valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the undersigned agrees with each underwriter to be named in the Underwriting Agreement that, during the period beginning on the date hereof and ending on the
          date that is 90 days from the date of the Underwriting Agreement (the &#8220;<font style="font-size: 10pt; font-family: 'Times New Roman'; font-weight: bold;">Lock-Up Period</font>&#8221;), the undersigned will not, without the prior written consent of the
          Representatives, directly or indirectly, (i) offer, pledge, sell, contract to sell, sell any option or contract to purchase, purchase any option or contract to sell, grant any option, right or warrant for the sale of, or otherwise dispose of or
          transfer any shares of the Company&#8217;s Common Stock or any securities convertible into or exchangeable or exercisable for Common Stock, whether now owned or hereafter acquired by the undersigned or with respect to which the undersigned has or
          hereafter acquires the power of disposition (collectively, the &#8220;<font style="font-size: 10pt; font-family: 'Times New Roman'; font-weight: bold;">Lock-Up Securities</font>&#8221;), or exercise any right with respect to the registration of any of the
          Lock-up Securities, or file or cause to be filed any registration statement (other than a registration statement on Form S-8) in connection therewith, under the Securities Act of 1933, as amended, or (ii) enter into any swap or any other
          agreement or any transaction that transfers, in whole or in part, directly or indirectly, the economic consequence of ownership of the Lock-Up Securities, whether any such swap or transaction is to be settled by delivery of Common Stock or other
          securities, in cash or otherwise.&#160; If the undersigned is an officer or director of the Company, the undersigned further agrees that the foregoing provisions shall be equally applicable to any issuer-directed Securities the undersigned may
          purchase in the offering.</font></div>
      <div><br>
      </div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-family: &quot;Times New Roman&quot;; font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">A-1</font></div>
        <div id="DSPFPageBreak" style="page-break-after:always;">
          <hr style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;" noshade="noshade"></div>
      </div>
      <div style="text-align: justify; text-indent: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">Notwithstanding the foregoing, and subject to the conditions below, the undersigned may transfer the Lock-Up Securities without the
          prior written consent of the Representatives, provided that (1) the Representatives each receive a signed lock-up agreement for the balance of the lockup period from each donee, trustee, distributee, or transferee, as the case may be, (2) any
          such transfer shall not involve a disposition for value, (3) in the case of clauses (1) through (4) below, such transfers are not required to be reported with the Securities and Exchange Commission on Form 4 in accordance with Section 16 of the
          Securities Exchange Act of 1934, as amended (the &#8220;<font style="font-size: 10pt; font-family: 'Times New Roman'; font-weight: bold;">Exchange Act</font>&#8221;), and (4) the undersigned does not otherwise voluntarily effect any public filing or report
          regarding such transfers:</font></div>
      <div><br>
      </div>
      <div style="text-align: justify; text-indent: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">1.</font>&#160;&#160;&#160;&#160;&#160;&#160; &#160; &#160; <font style="font-size: 10pt; font-family: 'Times New Roman';">as a bona fide gift or gifts;</font></div>
      <div><br>
      </div>
      <div style="text-align: justify; text-indent: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">2.</font>&#160;&#160;&#160;&#160;&#160; &#160; &#160; <font style="font-size: 10pt; font-family: 'Times New Roman';">to any trust for the direct or indirect benefit of
          the undersigned or the immediate family of the undersigned (for purposes of this lock-up agreement, &#8220;immediate family&#8221; shall mean any relationship by blood, marriage or adoption, not more remote than first cousin);</font></div>
      <div><br>
      </div>
      <div style="text-align: justify; text-indent: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">3.</font>&#160;&#160;&#160;&#160;&#160;&#160; &#160; &#160; <font style="font-size: 10pt; font-family: 'Times New Roman';">as a distribution to limited partners or
          stockholders of the undersigned;</font></div>
      <div><br>
      </div>
      <div style="text-align: justify; text-indent: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">4.</font>&#160;&#160;&#160;&#160;&#160; &#160; &#160;&#160; <font style="font-size: 10pt; font-family: 'Times New Roman';">to the undersigned&#8217;s affiliates or to any
          investment fund or other entity controlled or managed by the undersigned;</font></div>
      <div><br>
      </div>
      <div style="text-align: justify; text-indent: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">5.</font>&#160;&#160;&#160;&#160;&#160; &#160; &#160;&#160; <font style="font-size: 10pt; font-family: 'Times New Roman';">pursuant to a qualified domestic order or in
          connection with a divorce settlement; or</font></div>
      <div><br>
      </div>
      <div style="text-align: justify; text-indent: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">6.</font>&#160;&#160;&#160;&#160; &#160; &#160;&#160;&#160; <font style="font-size: 10pt; font-family: 'Times New Roman';">by will or intestate succession upon the death of
          the undersigned.</font></div>
      <div><br>
      </div>
      <div style="text-align: justify; text-indent: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">Furthermore, during the Lock-Up Period, the undersigned may (a) sell shares of Common Stock of the Company purchased by the
          undersigned on the open market following the Public Offering if and only if (i) such sales are not required during the Lock-Up Period to be reported in any public report or filing with the Securities Exchange Commission, or otherwise and (ii) the
          undersigned does not otherwise voluntarily effect any public filing or report regarding such sales during the Lock-Up Period and (b) exercise any rights to purchase (including by means of a cashless exercise), exchange or convert any stock
          options granted pursuant to the Company&#8217;s equity incentive plans existing as of the date of the Underwriting Agreement or warrants or any other such securities existing as of the date of the Underwriting Agreement, which such securities are
          convertible into or exchangeable or exercisable for Common Stock, so long as the shares of Common Stock received upon such exercise, exchange or conversion shall remain subject to the terms of this lock-up agreement and that no filing shall be
          voluntarily made in connection with such exercise.</font></div>
      <div><br>
      </div>
      <font style="font-size: 10pt; font-family: 'Times New Roman';"> </font>
      <div>
        <div> </div>
      </div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-family: &quot;Times New Roman&quot;; font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">A-2</font></div>
        <div id="DSPFPageBreak" style="page-break-after:always;">
          <hr style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;" noshade="noshade"></div>
      </div>
      <div style="text-align: justify; text-indent: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';"> [Notwithstanding anything herein to the contrary, nothing herein shall prevent the undersigned from establishing a 10b5-1 trading
          plan that complies with Rule 10b5-1 under the Exchange Act (&#8220;<font style="font-size: 10pt; font-family: 'Times New Roman'; font-weight: bold;">10b5-1 trading plan</font>&#8221;) or from amending an existing 10b5-1 trading plan so long as there are no
          sales of Lock- Up Securities under such plans during the Lock-Up Period; and provided that, the establishment of a 10b-5-1 trading plan or the amendment of a 10b5-1 trading plan shall only be permitted if (i) the establishment or amendment of
          such plan is not required to be reported in any public report or filing with the Securities Exchange Commission, or otherwise and (ii) the undersigned does not otherwise voluntarily effect any public filing or report regarding the establishment
          or amendment of such plan.]<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup></font></div>
      <div style="text-align: justify; text-indent: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';"> <br>
        </font></div>
      <div style="text-align: justify; text-indent: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">The undersigned also agrees and consents to the entry of stop transfer instructions with the Company&#8217;s transfer agent and registrar
          against the transfer of the Lock-Up Securities except in compliance with the foregoing restrictions.</font></div>
      <div><br>
      </div>
      <table id="z078b76dd971141d1a866ac824367cf02" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; border-collapse: collapse;" border="0" cellpadding="0" cellspacing="0">

          <tr>
            <td style="width: 50%; vertical-align: top;">&#160;</td>
            <td style="vertical-align: top;" colspan="2">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">Very truly yours,</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 50%; vertical-align: top;">&#160;</td>
            <td style="width: 8%; vertical-align: top;">&#160;</td>
            <td style="width: 42%; vertical-align: top;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 50%; vertical-align: top; padding-bottom: 2px;">&#160;</td>
            <td style="width: 8%; vertical-align: top; padding-bottom: 2px;">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">Signature:</font></div>
            </td>
            <td style="width: 42%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td style="width: 50%; vertical-align: top;">&#160;</td>
            <td style="width: 8%; vertical-align: top;">&#160;</td>
            <td style="width: 42%; vertical-align: top;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 50%; vertical-align: top; padding-bottom: 2px;">&#160;</td>
            <td style="width: 8%; vertical-align: top; padding-bottom: 2px;">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">Print Name:</font></div>
            </td>
            <td style="width: 42%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
          </tr>

      </table>
      <div><br>
      </div>
      <div>
        <div style="text-align: justify;">
          <div><br>
          </div>
          <div>
            <hr style="background-color: #000000; border-bottom: medium none; border-left: medium none; border-right: medium none; border-top: medium none; margin: 0px auto 0px 0px; height: 2px; width: 25%; color: #000000; text-align: left;" align="left" noshade="noshade">
            <div>
              <table style="width: 100%; font-family: 'Times New Roman'; font-size: 10pt;" class="DSPFListTable" cellpadding="0" cellspacing="0">

                  <tr style="vertical-align: top;">
                    <td style="align: right; vertical-align: top; width: 9pt;">
                      <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup></font></div>
                    </td>
                    <td style="align: left; vertical-align: top; width: auto;">
                      <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">NTD: To be replaced with the following language for certain individuals (individual share amounts not to exceed 215,835 shares in the
                          aggregate).</font></div>
                    </td>
                  </tr>

              </table>
            </div>
            <div><br>
              <div>
                <div style="text-align: left;"><font style="font-size: 10pt; font-family: &quot;Times New Roman&quot;;">[Notwithstanding anything herein to the contrary, nothing herein shall prevent the undersigned from (a)&#160; establishing a 10b5-1 trading
                    plan that complies with Rule 10b5-1 under the Exchange Act (&#8220;10b5-1 trading plan&#8221;); (b) selling shares of Common Stock pursuant to a 10b5-1 trading plan, provided that (i) the undersigned shall not have the right to sell more than an
                    aggregate of [&#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; ] shares of Common Stock under this paragraph (b) during the Lock-up Period and (ii) to the extent an announcement, report or filing is required during the Lock-Up Period, such announcement, report or
                    filing shall include a statement to the effect that such transfer or sale of securities was made pursuant to a written plan meeting the requirements of Rule 10b5-1 under the Exchange Act; or (c) from amending an existing 10b5-1 trading
                    plan so long as there are no sales of Lock- Up Securities under such plans during the Lock-Up Period; and provided that, the establishment of a 10b-5-1 trading plan or the amendment of a 10b5-1 trading plan shall only be permitted if
                    (i) the establishment or amendment of such plan is not required to be reported in any public report or filing with the Securities Exchange Commission, or otherwise and (ii) the undersigned does not otherwise voluntarily effect any
                    public filing or report regarding the establishment or amendment of such plan.]</font></div>
              </div>
            </div>
          </div>
        </div>
        <div style="text-align: justify; text-indent: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">&#160;</font></div>
      </div>
      <br>
      <div>
        <div style="text-align: center;"> <font style="font-family: &quot;Times New Roman&quot;; font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">A-3</font></div>
      </div>
      <div>
        <hr style="height: 2px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;" align="center" noshade="noshade"></div>
    </div>
  </div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-5.1
<SEQUENCE>3
<FILENAME>s002661x3_ex5-1.htm
<DESCRIPTION>EXHIBIT 5.1
<TEXT>
<html>
  <head>
    <title></title>
    <!-- Licensed to: Broadridge Finaicial Soultions, Inc.
         Document created using EDGARfilings PROfile 5.1.0.0
         Copyright 1995 - 2019 Broadridge -->
  </head>
<body style="font-family: &quot;Times New Roman&quot;; font-size: 10pt;" bgcolor="#ffffff" text="#000000">
  <div>
    <hr style="height: 4px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;" align="center" noshade="noshade">
    <div style="text-align: right;"> <font style="font-weight: bold;">Exhibit 5.1</font><br>
    </div>
    <div style="text-align: left;"><br>
      <table id="z953fb45a7d7b47c59cbf79751f53ba9a" style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; width: 100%; border-collapse: collapse;" border="0" cellpadding="0" cellspacing="0">

          <tr>
            <td style="width: 60%; vertical-align: top;">
              <div>
                <div style="background-color: #FFFFFF;">
                  <div style="text-align: left; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold;"><img src="s002661x3_ex5-1image01.jpg"></div>
                </div>
              </div>
            </td>
            <td style="width: 40%; vertical-align: top;">
              <div>
                <div style="background-color: #FFFFFF;">
                  <div style="text-align: left; font-family: &quot;Times New Roman&quot;,Times,serif; font-size: 9pt; font-weight: normal;">Covington &amp; Burling LLP<br>
                  </div>
                  <div style="text-align: left; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold;"><font style="font-weight: normal; font-size: 9pt;">The New York Times Building</font><font style="font-weight: normal;
                      font-size: 9pt;"><br>
                    </font></div>
                  <div style="text-align: left; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold;"><font style="font-weight: normal; font-size: 9pt;">620 Eighth Avenue</font><font style="font-weight: normal; font-size: 9pt;"><br>
                    </font></div>
                  <div style="text-align: left; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold;"><font style="font-weight: normal; font-size: 9pt;">New York, NY 10018-1405</font><font style="font-weight: normal; font-size:
                      9pt;"><br>
                    </font></div>
                  <div style="text-align: left; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold;"><font style="font-weight: normal; font-size: 9pt;">T &#160; +1 212 841 1000</font><br>
                  </div>
                </div>
              </div>
            </td>
          </tr>

      </table>
      <div><br>
      </div>
      <div style="font-family: &quot;Times New Roman&quot;,Times,serif; font-size: 10pt; text-align: right;">February 15, 2019</div>
      <div><br>
      </div>
      <div><font style="font-size: 10pt; font-family: &quot;Times New Roman&quot;,Times,serif;">MacroGenics, Inc.</font></div>
      <div><font style="font-size: 10pt; font-family: &quot;Times New Roman&quot;,Times,serif;">9704 Medical Center Drive</font></div>
      <div><font style="font-size: 10pt; font-family: &quot;Times New Roman&quot;,Times,serif;">Rockville, Maryland 20850</font></div>
      <div><br>
      </div>
      <div><font style="font-size: 10pt; font-family: &quot;Times New Roman&quot;,Times,serif;">Ladies &amp; Gentlemen:</font></div>
      <div><br>
      </div>
      <div style="text-indent: 36pt;"><font style="font-size: 10pt; font-family: &quot;Times New Roman&quot;,Times,serif;">We have acted as counsel to MacroGenics, Inc., a Delaware corporation (the &#8220;<font style="font-size: 10pt; font-family: &quot;Times
            New Roman&quot;,Times,serif; font-style: italic;">Company</font>&#8221;), in connection with the registration by the Company under the Securities Act of 1933, as amended (the &#8220;<font style="font-size: 10pt; font-family: &quot;Times New
            Roman&quot;,Times,serif; font-style: italic;">Securities Act</font>&#8221;), of up to 6,325,000 shares (the &#8220;<font style="font-size: 10pt; font-family: &quot;Times New Roman&quot;,Times,serif; font-style: italic;">Shares</font>&#8221;) of the Company&#8217;s
          common stock, par value $0.01 per share (the &#8220;<font style="font-size: 10pt; font-family: &quot;Times New Roman&quot;,Times,serif; font-style: italic;">Common Stock</font>&#8221;), pursuant to the Underwriting Agreement, dated February 12, 2019 (the &#8220;<font style="font-size: 10pt; font-family: &quot;Times New Roman&quot;,Times,serif; font-style: italic;">Underwriting Agreement</font>&#8221;), by and among the Company and SVB Leerink Partners LLC and Evercore Group L.L.C., as representatives of the
          several underwriters named therein.&#160; The offer and sale of the Shares are registered under the Securities Act pursuant to the Company&#8217;s<font style="font-size: 10pt; font-family: &quot;Times New Roman&quot;,Times,serif;"> Registration Statement on
            Form S-3 (</font>File No. 333-214385)<font style="font-size: 10pt; font-family: &quot;Times New Roman&quot;,Times,serif;">, which was filed with the Securities and Exchange Commission (the &#8220;</font><font style="font-size: 10pt; font-family:
            &quot;Times New Roman&quot;,Times,serif; font-style: italic;">Commission</font><font style="font-size: 10pt; font-family: &quot;Times New Roman&quot;,Times,serif;">&#8221;) on </font>November 2, 2016 <font style="font-size: 10pt; font-family:
            &quot;Times New Roman&quot;,Times,serif;">(such registration statement, as amended to the date hereof, is herein referred to as the &#8220;</font><font style="font-size: 10pt; font-family: &quot;Times New Roman&quot;,Times,serif; font-style: italic;">Registration




            Statement</font><font style="font-size: 10pt; font-family: &quot;Times New Roman&quot;,Times,serif;">&#8221;)</font>.</font></div>
      <div><br>
      </div>
      <div style="text-indent: 36pt;"><font style="font-size: 10pt; font-family: &quot;Times New Roman&quot;,Times,serif;">We have reviewed:</font></div>
      <div><br>
      </div>
      <div style="text-indent: 72pt;"><font style="font-size: 10pt; font-family: &quot;Times New Roman&quot;,Times,serif;">(i)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-size: 10pt; font-family: &quot;Times New Roman&quot;,Times,serif;">the Underwriting Agreement;</font></div>
      <div style="text-indent: 72pt;"><font style="font-size: 10pt; font-family: &quot;Times New Roman&quot;,Times,serif;"> <br>
        </font></div>
      <div style="text-indent: 72pt;"><font style="font-size: 10pt; font-family: &quot;Times New Roman&quot;,Times,serif;">(ii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-size: 10pt; font-family: &quot;Times New Roman&quot;,Times,serif;">the Registration Statement;</font></div>
      <div style="text-indent: 72pt;"><font style="font-size: 10pt; font-family: &quot;Times New Roman&quot;,Times,serif;"> <br>
        </font></div>
      <div style="text-indent: 72pt;"><font style="font-size: 10pt; font-family: &quot;Times New Roman&quot;,Times,serif;">(iii)</font>&#160;&#160; &#160; &#160;&#160; <font style="font-size: 10pt; font-family: &quot;Times New Roman&quot;,Times,serif;">the preliminary prospectus,
          consisting of the prospectus, dated November 2, 2016 (the &#8220;<font style="font-size: 10pt; font-family: &quot;Times New Roman&quot;,Times,serif; font-style: italic;">Base Prospectus</font>&#8221;), as supplemented by a preliminary prospectus supplement,
          dated February 12, 2019, relating to the offering of the Shares, filed with the Commission on February 12, 2019, pursuant to Rule 424(b) under the Securities Act;</font></div>
      <div style="text-indent: 72pt;"><font style="font-size: 10pt; font-family: &quot;Times New Roman&quot;,Times,serif;"> <br>
        </font></div>
      <div style="text-indent: 72pt;"><font style="font-size: 10pt; font-family: &quot;Times New Roman&quot;,Times,serif;">(iv)</font>&#160;&#160;&#160; &#160; &#160; <font style="font-size: 10pt; font-family: &quot;Times New Roman&quot;,Times,serif;">the final prospectus,
          consisting of the Base Prospectus, as supplemented by a final prospectus supplement, dated February 12, 2019, relating to the offering of the Shares, filed with the Commission on February 13, 2019, pursuant to Rule 424(b) under the Securities Act
          (the &#8220;<font style="font-size: 10pt; font-family: &quot;Times New Roman&quot;,Times,serif; font-style: italic;">Prospectus</font>&#8221;); and</font></div>
      <div><font style="font-size: 10pt; font-family: &quot;Times New Roman&quot;,Times,serif;"> </font><br>
        <div style="text-indent: 72pt;"><font style="font-size: 10pt; font-family: &quot;Times New Roman&quot;,Times,serif;">(v)&#160;&#160;&#160; &#160; &#160;&#160; such corporate records, certificates and other documents, and such questions of law, as we have considered necessary or
            appropriate for the purposes of this opinion.</font></div>
        <div><font style="font-size: 10pt; font-family: &quot;Times New Roman&quot;,Times,serif;"> <br>
          </font></div>
        <font style="font-size: 10pt; font-family: &quot;Times New Roman&quot;,Times,serif;"> </font></div>
      <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
        <div style="page-break-after: always;" id="DSPFPageBreak">
          <hr style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: rgb(0, 0, 0); background-color: rgb(0, 0, 0);" noshade="noshade"></div>
      </div>
      <div>
        <div style="background-color: #FFFFFF;">
          <div style="text-align: left; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold;"><img src="s002661x3_ex5-1image02.jpg"></div>
        </div>
      </div>
      <div><font style="font-size: 10pt; font-family: &quot;Times New Roman&quot;,Times,serif;"> <br>
        </font></div>
      <div><font style="font-size: 10pt; font-family: &quot;Times New Roman&quot;,Times,serif;">MacroGenics, Inc.</font></div>
      <div><font style="font-size: 10pt; font-family: &quot;Times New Roman&quot;,Times,serif;">February 15, 2019</font></div>
      <div><font style="font-size: 10pt; font-family: &quot;Times New Roman&quot;,Times,serif;">Page 2</font></div>
      <div><br>
      </div>
      <div style="text-indent: 72pt;"><font style="font-size: 10pt; font-family: &quot;Times New Roman&quot;,Times,serif;">We have assumed that all signatures are genuine, that all documents submitted to us as originals are authentic and that all copies of
          documents submitted to us conform to the originals.</font></div>
      <div><font style="font-size: 10pt; font-family: &quot;Times New Roman&quot;,Times,serif;"> <br>
        </font></div>
      <div style="text-indent: 72pt;"><font style="font-size: 10pt; font-family: &quot;Times New Roman&quot;,Times,serif;">We have relied as to certain matters on information obtained from public officials, officers of the Company and other sources
          believed by us to be responsible.</font></div>
      <div><font style="font-size: 10pt; font-family: &quot;Times New Roman&quot;,Times,serif;"> <br>
        </font></div>
      <div style="text-indent: 72pt;"><font style="font-size: 10pt; font-family: &quot;Times New Roman&quot;,Times,serif;">Based upon the foregoing, we are of the opinion that the Shares have been duly authorized and that the Shares, when duly issued and
          sold by the Company as contemplated by the Underwriting Agreement, will be validly issued, fully paid and non-assessable.</font></div>
      <div><font style="font-size: 10pt; font-family: &quot;Times New Roman&quot;,Times,serif;"> <br>
        </font></div>
      <div style="text-indent: 72pt;"><font style="font-size: 10pt; font-family: &quot;Times New Roman&quot;,Times,serif;">We are members of the bar of the State of New York.&#160; We do not express any opinion herein on any laws other than the Delaware General
          Corporation Law and reported judicial decisions interpreting these laws.</font></div>
      <div><font style="font-size: 10pt; font-family: &quot;Times New Roman&quot;,Times,serif;"> <br>
        </font></div>
      <div style="text-indent: 72pt;"><font style="font-size: 10pt; font-family: &quot;Times New Roman&quot;,Times,serif;">We hereby consent to the filing of this opinion as Exhibit 5.1 to the Company&#8217;s Current Report on Form 8-K dated the date hereof
          relating to the offering of the Shares.&#160; We also hereby consent to the reference to our firm under the heading &#8220;Legal Matters&#8221; in the Prospectus constituting part of the Registration Statement<font style="font-size: 10pt; font-family: &quot;Times
            New Roman&quot;,Times,serif;">.&#160; </font>In giving such consent, we do not thereby admit that we are in the category of persons whose consent is required under Section 7 of the Securities Act.</font></div>
      <div><br>
      </div>
      <div>
        <table style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; width: 100%;" id="zef6f8872cbd94f4596aca20b562c2c8b" border="0" cellpadding="0" cellspacing="0">

            <tr>
              <td style="width: 60%;">
                <div>&#160;</div>
              </td>
              <td style="width: 40%;">
                <div><font style="font-size: 10pt; font-family: &quot;Times New Roman&quot;,Times,serif;">Very truly yours,</font></div>
              </td>
            </tr>
            <tr>
              <td style="width: 60%;">
                <div>&#160;</div>
              </td>
              <td style="width: 40%;"><br>
              </td>
            </tr>
            <tr>
              <td style="width: 60%;">
                <div>&#160;</div>
              </td>
              <td style="width: 40%;">
                <div><font style="font-size: 10pt; font-family: &quot;Times New Roman&quot;,Times,serif;">/s/ Covington &amp; Burling LLP</font></div>
              </td>
            </tr>

        </table>
      </div>
      <div><br>
      </div>
      <div><font style="font-size: 10pt; font-family: &quot;Times New Roman&quot;,Times,serif;"> <br>
        </font></div>
      <div><font style="font-size: 10pt; font-family: &quot;Times New Roman&quot;,Times,serif;"> </font>
        <hr style="height: 2px; color: rgb(0, 0, 0); background-color: rgb(0, 0, 0); margin-left: auto; margin-right: auto; border: medium none;" noshade="noshade"></div>
    </div>
  </div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>4
<FILENAME>s002661x3_ex5-1image01.jpg
<TEXT>
begin 644 s002661x3_ex5-1image01.jpg
M_]C_X  02D9)1@ ! 0$ 8 !@  #_VP!#  8$!08%! 8&!08'!P8("A *"@D)
M"A0.#PP0%Q08&!<4%A8:'24?&ALC'!86("P@(R8G*2HI&1\M,"TH,"4H*2C_
MVP!# 0<'!PH("A,*"A,H&A8:*"@H*"@H*"@H*"@H*"@H*"@H*"@H*"@H*"@H
M*"@H*"@H*"@H*"@H*"@H*"@H*"@H*"C_P  1" !! 0H# 2(  A$! Q$!_\0
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M$6[,,Y'8D8QG.&ZUU'PA\ ^)6\=ZG\0OB'Y$&N7D?DV]A P9;:/ ')!(SM4
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ME*1O*9-G[S:%.8PZLK;D+ '(%=39^,M#O;G[/:7RS39MQL123^_0O%^:@M[
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M-H/<%LX(&!7HIUBP_L(ZRMS&^F?9OM8N%.5,6W=N'MCFHK'7M/OSIGV68O\
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BO_72W_F*** )+O\ UUQ_O0?^AUI444 %%%% !1110!__V0$!

end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>5
<FILENAME>s002661x3_ex5-1image02.jpg
<TEXT>
begin 644 s002661x3_ex5-1image02.jpg
M_]C_X  02D9)1@ ! 0$ 8 !@  #_VP!#  8$!08%! 8&!08'!P8("A *"@D)
M"A0.#PP0%Q08&!<4%A8:'24?&ALC'!86("P@(R8G*2HI&1\M,"TH,"4H*2C_
MVP!# 0<'!PH("A,*"A,H&A8:*"@H*"@H*"@H*"@H*"@H*"@H*"@H*"@H*"@H
M*"@H*"@H*"@H*"@H*"@H*"@H*"@H*"C_P  1"  / &0# 2(  A$! Q$!_\0
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M2VZ/  PV>%.2,8H W[GQ]JVG^&_ =]J6DV\-[XCU*VLIK<2-BV28,P(..6
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2^="S,'5@N"<@')P2?YT4 ?_9

end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
