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Commitments and Contingencies
 12 Months Ended
Dec. 31, 2024
Commitments and Contingencies Disclosure [Abstract]  
Commitments and Contingencies Commitments and Contingencies 
Leases    
The Company has non-cancelable operating leases for manufacturing, laboratory, office and warehouse space in Maryland. The Company’s leases each have one or more five-year options to renew. In October 2024, the Company amended the existing lease for one of its laboratory spaces to extend the lease term through 2029 in exchange for certain concessions from the lessor. This amendment was accounted for as a lease modification, and the right-of-use asset and lease liability were remeasured at the modification date, resulting in an increase to both balances of approximately $3.0 million.
The table below presents supplemental balance sheet information related to operating leases:
December 31,
20242023
Weighted-average remaining lease term (in years)10.011.0
Weighted-average discount rate12.0 %12.0 %
During the years ended December 31, 2024 and 2023, the Company made cash payments for operating leases of $3.8 million and $5.9 million, respectively. As of December 31, 2024 and 2023, the Company’s ROU assets were valued at $24.5 million and $23.8 million, respectively.
The components of lease cost for the years ended December 31, 2024 and 2023 were as follows (in thousands):
December 31,
20242023
Operating lease cost
$6,610 $7,459 
Variable lease cost1,114 1,316 
Sublease income
(1,145)(1,109)
Net lease cost$6,579 $7,666 
As of December 31, 2024, the maturities of the Company’s operating lease liabilities were as follows (in thousands):
2025$5,185 
20265,507 
20276,258 
20287,413 
20296,346 
Thereafter39,773 
Total lease payments70,482 
Less: imputed interest(33,021)
Total lease liabilities$37,461 

In-licensing arrangement
In January 2022, the Company entered into a non-exclusive license agreement with Synaffix B.V., a Lonza company, (Synaffix) to develop, manufacture and commercialize up to three antibody-drug conjugate targets using Synaffix’s proprietary technology. The Company made an upfront payment to Synaffix upon contract execution. In March 2023, the Company and Synaffix amended the agreement, adding four additional targets. Assuming all seven targets are successfully developed and commercialized, the Company would be obligated to pay up to $2.8 billion for development, regulatory and sales milestones. Finally, pursuant to the terms of this license agreement, as amended, upon commencement of commercial sales of any products developed from these targets, the Company would be required to pay Synaffix tiered royalties in the low‑single digit percentages on net sales of the respective products. The Company may terminate this agreement at any time with 30 days’ notice to Synaffix. Amounts paid to Synaffix under this agreement are recorded as research and development expense in the consolidated statement of operations. The Company incurred $4.7 million, $2.8 million and $1.0 million in expense under this agreement during the years ended December 31, 2024, 2023 and 2022, respectively.
Securities Litigation
In July 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, M.D., Ph.D., 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 asserted 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 in patients with metastatic castration-resistant prostate cancer. On December 20, 2024, the District Court issued an Order dismissing the case, without prejudice.
On December 9, 2024, a shareholder derivative suit, entitled Gregora v. Heiden et al. (Case No. 24-cv-03546), was filed in the U.S. District Court for the District of Maryland against certain of the Company’s officers and directors and naming the Company as a nominal defendant. The suit asserts certain claims under Section 10(b) and Rule 10b-5 of the Securities and Exchange Act of 1934 and for breach of fiduciary duty, aiding and abetting breach of fiduciary duty, unjust enrichment, and waste of corporate assets based on the same facts as the Securities Class Action. On March 10, 2025, the plaintiff filed a notice of voluntary dismissal.
On December 11, 2024, a shareholder derivative suit, entitled Cottle v. MacroGenics, Inc., et al. (Case No. 8:24-cv-03578), was filed in the U.S. District Court for the District of Maryland against the same defendants and alleging similar claims as the Gregora derivative action. On March 20, 2025, the parties filed a stipulation of dismissal without prejudice.