Thursday, 18 April 2024

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MacroGenics reports progress in prostate cancer study By

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ROCKVILLE, MD – MacroGenics Inc. (NASDAQ: NASDAQ:) has updated the medical community on its ongoing Phase 2 TAMARACK study, which is evaluating the safety and efficacy of vobramitamab duocarmazine, also known as vobra duo, in treating metastatic castration-resistant prostate cancer (mCRPC). The biopharmaceutical company, specializing in antibody-based cancer therapies, announced that while its early interim safety data submitted for presentation at the American Society of Clinical Oncology (ASCO) Annual Meeting was not accepted, updated interim data including safety and preliminary efficacy will be shared by May 31, 2024.

The early interim data, based on a January 4, 2024 data cut-off, indicated that the dose and frequency reduction of vobra duo might improve safety and tolerability for patients with mCRPC. The Phase 2 study compares two dose levels of the drug, with the primary endpoint being investigator-assessed progression-free survival at six months. The study is ongoing, and the Independent Data Monitoring Committee (IDMC) has recommended its continuation without modification.

Treatment-emergent adverse events (TEAEs) were reported in over 90% of the participants at both dose levels, with serious adverse events occurring in up to 19.8% of patients. Drug interruptions due to adverse events were noted in 11.0% to 18.6% of patients, and drug discontinuation due to adverse events occurred in 2.3% to 4.4% of patients. These interim results suggest an improved safety profile compared to the Phase 1 study, where higher rates of drug interruption and discontinuation were observed.

MacroGenics also anticipates presenting additional clinical data, including radiographic progression-free survival (rPFS), in the fall of 2024. The company extends its gratitude to the abstract authors and the TAMARACK Investigators for their contributions.

InvestingPro Insights

MacroGenics Inc. (NASDAQ: MGNX) continues to navigate the challenging landscape of biopharmaceutical development, with a particular focus on antibody-based cancer therapies. Amidst its clinical trials and research endeavors, it’s crucial for investors and industry observers to consider the financial health and market performance of the company.

InvestingPro data highlights a market capitalization of $853.45 million for MacroGenics, reflecting the company’s valuation in the market. Notably, the Price / Book ratio stands at a high 5.56 as of the last twelve months ending Q4 2023, suggesting that the market…

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