XML 27 R16.htm IDEA: XBRL DOCUMENT v3.24.2.u1
Subsequent Event
6 Months Ended
Jun. 30, 2024
Subsequent Events [Abstract]  
Subsequent Event Subsequent Event
In July 2024, the Company and Incyte entered into an amendment to the Incyte License Agreement, pursuant to which certain milestones were deemed to have been met, resulting in $100.0 million in milestone payments to the Company. The Company received the milestone payments in August 2024.

On July 26, 2024, a putative securities class action suit, entitled Crain v. MacroGenics, Inc. (Case No. 24-cv-02184), was filed in the U.S. District Court for the District of Maryland against the Company and Scott Koenig, the Company’s President, Chief Executive Officer and a member of the Company’s Board of Directors, alleging violations of securities laws during 2024. The suit asserts certain claims under Section 10 and Rule 10b-5 of the Securities and Exchange Act of 1934 based on alleged misstatements or omissions concerning the Company's TAMARACK Phase 2 study of vobramitamab duocarmazine (vobra duo) in patients with metastatic castration-resistant prostate cancer (mCRPC). The Company plans to vigorously defend against these claims. Currently, no reserve has been established for any potential liability related to this suit.