Benzinga | Apr 29, 2021 05:30PM EDT

Macrogenics Says May Offer And Sell Shares Of Common Stock Having Aggregate Offering Price Of Up To $200M From Time To Time

We have entered into a sales agreement, or Sales Agreement, with Cowen and Company, LLC, or Cowen, dated November 4, 2020, and amended on April 29, 2021, relating to shares of our common stock offered by this prospectus supplement and the accompanying base prospectus. In accordance with the terms of the Sales Agreement, under this prospectus supplement we may offer and sell shares of our common stock having an aggregate offering price of up to $200,000,000 from time to time through Cowen acting as our agent.

Our common stock trades on The Nasdaq Global Select Market under the symbol "MGNX." On April 28, 2021, the last reported sale price of our common stock was $35.29 per share.

Sales of our common stock, if any, under this prospectus supplement will be made in sales deemed to be "at the market offerings" as defined in Rule 415(a)(4) promulgated under the Securities Act of 1933, as amended, or the Securities Act. Cowen is not required to sell any specific amount of securities, but will act as our sales agent using commercially reasonable efforts consistent with its normal trading and sales practices, on mutually agreed terms between Cowen and us. There is no arrangement for funds to be received in any escrow, trust or similar arrangement.