Why MacroGenics Stock Is Tumbling Today

Shares of MacroGenics (NASDAQ: MGNX) were tumbling 5.7% lower as of 11:39 a.m. EDT on Thursday. The decline came after the company announced preliminary results from its phase 1 study evaluating MGC018 in treating solid tumors.

MacroGenics said that it saw preliminary signals of anti-tumor activity with MGC018 in treating patients with advanced metastatic castration-resistant prostate cancer (mCRPC). The company reported that reductions in prostate-specific antigens (PSAs) of at least 50% were observed in five patients. Of the nine patients in the study with mCRPC, eight demonstrated stable disease. 

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Source Fool.com