Xencor hold supports MacroGenics’ ‘measured approach’: H.C. Wainwright

H.C. Wainwright analyst Debjit Chattopadhyay says the partial clinical hold placed on Xencor’s (XNCR) XmAb14045 highlights the importance of the “measured approach” MacroGenics (MGNX) has implemented for flotetuzumab. MacroGenics is advancing flotetuzumab, a CD123xCD3 bispecific, for the same indication as mAb14045 and has had a “deliberate approach” to mitigate cytokine release syndrome-related issues, with some “compelling data” in refractory acute myeloid leukemia patients, Chattopadhyay tells investors in a research note. He keeps a Buy rating on MacroGenics with a $39 price target.
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