MacroGenics shares climb following $80M IPO

Font Size:
Default font size
Larger font size

Posted: Thursday, October 10, 2013 12:00 am

NEW YORK (AP) - Shares of MacroGenics are surging in Thursday midday trading after the biotechnology company raised $80 million in its initial public offering.

MacroGenics sold 5 million shares of stock for $16 per share. It had expected to sell 4 million shares for $14 to $16 each. The $80 million total does not include expenses or underwriting discounts.

The stock is up $8.50, or 53 percent, to $25.50, and earlier traded as high as $26.36..

Shares of MacroGenics Inc. are now trading on the Nasdaq Global Select Market under the ticker symbol "MGNX."

The Rockville, Md., company is developing monoclonal antibody-based therapeutics for the treatment of cancer and autoimmune diseases. It does not have any approved drugs and its most advanced experimental drug is in mid-stage clinical testing.

© 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.



Inside Business
To submit an announcement for "Inside Business", click here. For questions call (402) 444-1371 or e-mail

World-Herald Alerts

Want to get World-Herald stories sent directly to your home or work computer? Sign up for's News Alerts and you will receive e-mails with the day's top stories.