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MACROGENICS, INC.
AMENDED AND RESTATED
UNAUDITED CONSOLIDATED PRO FORMA FINANCIAL INFORMATION

Effective as of June 30, 2026, MacroGenics, Inc. (the “Company”) completed the previously announced sale (the “Closing”) of certain assets and liabilities related to its GMP manufacturing operations (the "Purchased Assets"), including its CDMO business (the “CDMO Operations”) conducted by the Company at its manufacturing facility located at 9704 Medical Center Drive, Rockville, Maryland and related warehouse operations located at 4735 Arcadia Drive, Frederick, Maryland (excluding all research and related assets and operations of the Company) (the “Transaction”), to Bora Pharmaceuticals Co., Ltd., a company organized under the laws of Taiwan (“Bora”), and Bora Biologics USA, LLC, a Delaware limited liability company (collectively, the “Purchaser”).

The Transaction was conducted pursuant to the Asset Purchase Agreement, dated as of May 11, 2026 (the “Purchase Agreement”) by and between the Company and the Purchaser, and under the terms of the Purchase Agreement, at Closing the Purchaser paid the Company $119.6 million net of customary post-closing adjustments for working capital and indebtedness, and the Purchaser assumed responsibility for the CDMO Operations. The Company incurred approximately $8.8 million of incremental transaction costs directly related to the sale. Additionally, the Purchase Agreement provides for up to $5 million of potential additional post-closing cash payments (the "Contingent Consideration") to the Company upon achievement of certain manufacturing milestones by the CDMO Operations and professional development program services to be performed by the CDMO Operations in 2027 and 2028. The Company has assessed the likelihood of achievement of the Contingent Consideration as remote and therefore there is no accounting transaction adjustment reflected in the pro forma consolidated financial statements below. Any additional consideration will be recognized within discontinued operations in the period the related milestones are achieved. Changes in the estimated fair value of the contingent consideration, if any, will be recognized in earnings in subsequent periods.

The Purchase Agreement contains customary representations, warranties and agreements by the Company and the Purchaser, indemnification obligations of the parties and certain other obligations of the parties. The closing of the Transaction was subject to customary conditions.

The Company determined that the disposal of the Purchased Assets represented a strategic shift that had a major effect on the Company's operations and financial results, reflecting the Company's exit from its contract manufacturing line of business and its decision to focus its resources on its pre-clinical and clinical-stage research and development pipeline. Accordingly, the results of the CDMO Operations are reported as discontinued operations. Amounts historically presented as shared or corporate costs that are expected to continue subsequent to the disposal have not been allocated to discontinued operations and remain in continuing operations. The related assets and liabilities are classified as assets and liabilities of discontinued operations on the Company's historical consolidated balance sheet and have been eliminated through the transaction accounting adjustments reflected in the pro forma consolidated balance sheet.

The unaudited pro forma financial information (or “pro forma financial information”) presents the pro forma financial position and results of operations after giving effect to the Transaction and the related discontinued operations presentation. Specifically, the unaudited pro forma consolidated balance sheet reflects adjustments that depict the accounting for the Transaction required by U.S. GAAP (“pro forma balance sheet transaction accounting adjustments”) as of March 31, 2026 while the unaudited pro forma consolidated statements of operations reflect adjustments that depict the effects of reclassifying the CDMO Operations to discontinued operations and removing the related revenue and cost of manufacturing services from continuing operations, assuming those adjustments were made as of January 1, 2023 (“pro forma income statement transaction accounting adjustments”). We refer to pro forma balance sheet transaction accounting adjustments and pro forma income statement transaction accounting adjustments collectively as “transaction accounting adjustments.” The transaction accounting adjustments are described in the accompanying notes.

The pro forma financial information is prepared in accordance with Article 11 of Regulation S-X as amended by the final rule, Release No. 33-10786 “Amendments to Financial Disclosures about Acquired and Disposed Businesses”. The pro forma financial information is based upon available information and assumptions that management considers to be reasonable, and such assumptions have been made solely for purposes of developing such pro forma financial information for illustrative purposes in compliance with the disclosure requirements of the SEC. The pro forma financial information is not necessarily indicative of the financial position or results of operations that would have actually occurred had the Transaction occurred on the dates indicated. In





addition, these pro forma financial statements should not be considered to be indicative of the future financial performance and results of operations of the Company.

The pro forma financial information should be read in conjunction with the historical financial statements and accompanying notes included in the Company’s Annual Report on Form 10-K filed with the SEC on March 9, 2026 and the Company’s Quarterly Report on Form 10-Q for the quarters ended March 31, 2026, filed with the SEC on May 13, 2026, and June 30, 2026, filed with the SEC on August 14, 2026.



MACROGENICS, INC.
UNAUDITED PRO FORMA CONSOLIDATED BALANCE SHEET
As of March 31, 2026
(Amounts in thousands, except share and per share data)
HistoricalAccounting Transaction AdjustmentsPro Forma
Assets
Current assets:
Cash and cash equivalents$66,517 $110,807 (a)$177,324 
Marketable securities87,712 87,712 
Accounts receivable10,425 (10,175)(b)250 
Inventory, net 9,498 (9,498)(b)— 
Prepaid expenses and other current assets8,371 (3,189)(b)5,182 
Total current assets182,523 87,945 270,468 
Property, equipment and software, net11,493 (9,482)(b)2,011 
Operating lease right-of-use assets22,481 (1,068)(b)21,413 
Other non current assets1,376 (1,178)(b)198 
Total assets$217,873 $76,217 $294,090 
Liabilities and stockholders' equity
Current liabilities:
Accounts payable$4,287 $(1,688)(b)$2,599 
Accrued expenses and other current liabilities18,446 (1,097)(b)17,349 
Deferred revenue67,993 (11,503)(b)56,490 
Lease liabilities5,214 (274)(b)4,940 
Total current liabilities95,940 (14,562)81,378 
Liability related to future royalties68,713 68,713 
Lease liabilities, net of current portion31,295 (934)(b)30,361 
Other non current liabilities727 727 
Total liabilities196,675 (15,496)181,179 
Stockholders' equity:
Common stock, $0.01 par value -- 125,000,000 shares authorized, 63,560,068 shares outstanding at March 31, 2026
636 636 
Additional paid-in capital1,301,701 1,301,701 
Accumulated other comprehensive loss(27)(27)
Accumulated deficit(1,281,112)91,713 (c)(1,189,399)
Total stockholders' equity21,198 91,713 112,911 
Total liabilities and stockholders' equity$217,873 $76,217 $294,090 

The accompanying notes are an integral part of these unaudited pro forma consolidated financial statements.


MACROGENICS, INC.
UNAUDITED PRO FORMA CONSOLIDATED STATEMENT OF OPERATIONS AND COMPREHENSIVE LOSS
Three Months Ended March 31, 2026
(Amounts in thousands, except share and per share data)
HistoricalAccounting Transaction AdjustmentsPro Forma
Revenues:
Collaborative and other agreements$570 $570 
Contract manufacturing 14,054 (14,054)(d)— 
Royalty revenue6,151 6,151 
Total revenues20,775 (14,054)6,721 
Costs and expenses:
Cost of manufacturing services9,530 (9,530)(e)— 
Research and development34,974 34,974 
General and administrative9,710 9,710 
Total costs and expenses54,214 (9,530)44,684 
Loss from operations(33,439)(4,524)(37,963)
Interest and other income1,554 1,554 
Interest and other expense(4,889)(4,889)
Net loss from continuing operations(36,774)(4,524)(41,298)
Other comprehensive loss:
Unrealized loss on investments(59)(59)
Comprehensive loss$(36,833)$(4,524)$(41,357)
Basic and diluted net loss from continuing operations per common share$(0.58)$(0.65)
Basic and diluted weighted average common shares outstanding63,449,780 63,449,780 

The accompanying notes are an integral part of these unaudited pro forma consolidated financial statements.


MACROGENICS, INC.
UNAUDITED PRO FORMA CONSOLIDATED STATEMENT OF OPERATIONS AND COMPREHENSIVE LOSS
Twelve Months Ended December 31, 2025
(Amounts in thousands, except share and per share data)
HistoricalAccounting Transaction AdjustmentsPro Forma
Revenues:
Collaborative and other agreements$87,183 $87,183 
Contract manufacturing52,631 (52,631)(d)— 
Royalty revenue9,686 9,686 
Total revenues149,500 (52,631)96,869 
Costs and expenses:
Cost of manufacturing services36,009 (36,009)(e)— 
Research and development147,172 147,172 
General and administrative39,160 39,160 
Total costs and expenses222,341 (36,009)186,332 
Loss from operations(72,841)(16,622)(89,463)
Interest and other income6,057 6,057 
Interest and other expense(8,508)(8,508)
Loss before income taxes (75,292)(16,622)(91,914)
Income tax expense (benefit)(672)(672)
Net loss from continuing operations(74,620)(16,622)(91,242)
Other comprehensive loss:
Unrealized gain on investments28 28 
Comprehensive loss$(74,592)$(16,622)$(91,214)
Basic and diluted net loss from continuing operations per common share$(1.18)$(1.44)
Basic and diluted weighted average common shares outstanding63,155,096 63,155,096 

The accompanying notes are an integral part of these unaudited pro forma consolidated financial statements.



MACROGENICS, INC.
UNAUDITED PRO FORMA CONSOLIDATED STATEMENT OF OPERATIONS AND COMPREHENSIVE LOSS
Twelve Months Ended December 31, 2024
(Amounts in thousands, except share and per share data)
HistoricalAccounting Transaction AdjustmentsPro Forma
Revenues:
Collaborative and other agreements$119,918 $119,918 
Product sales, net16,426 16,426 
Contract manufacturing13,057 (13,057)(d)— 
Government agreements561 561 
Total revenues149,962 (13,057)136,905 
Costs and expenses:
Cost of product sales847 847 
Cost of manufacturing services11,452 (11,452)(e)— 
Research and development177,194 177,194 
Selling, general and administrative71,047 71,047 
Total costs and expenses260,540 (11,452)249,088 
Loss from operations(110,578)(1,605)(112,183)
Gain on sale of MARGENZA36,250 36,250 
Interest and other income9,421 9,421 
Interest and other expense(1,115)(1,115)
Loss before income taxes (66,022)(1,605)(67,627)
Income tax provision944944
Net loss from continuing operations(66,966)(1,605)(68,571)
Other comprehensive loss:
Unrealized gain on investments10 10
Comprehensive loss$(66,956)$(1,605)$(68,561)
Basic and diluted net loss from continuing operations per common share$(1.07)$(1.10)
Basic and diluted weighted average common shares outstanding62,621,185 62,621,185 

The accompanying notes are an integral part of these unaudited pro forma consolidated financial statements.



MACROGENICS, INC.
UNAUDITED PRO FORMA CONSOLIDATED STATEMENT OF OPERATIONS AND COMPREHENSIVE LOSS
Twelve Months Ended December 31, 2023
(Amounts in thousands, except share and per share data)
HistoricalAccounting Transaction AdjustmentsPro Forma
Revenues:
Collaborative and other agreements$30,546 $30,546 
Product sales, net17,939 17,939 
Contract manufacturing9,833 (9,833)(d)— 
Government agreements431 431 
Total revenues58,749 (9,833)48,916 
Costs and expenses:
Cost of product sales619 619 
Cost of manufacturing services7,603 (7,603)(e)— 
Research and development166,583 166,583 
Selling, general and administrative52,188 52,188 
Total costs and expenses226,993 (7,603)219,390 
Loss from operations(168,244)(2,230)(170,474)
Gain on royalty monetization arrangement150,930 150,930 
Interest and other income9,686 9,686 
Interest and other expense(1,430)(1,430)
Net loss from continuing operations(9,058)(2,230)(11,288)
Other comprehensive loss:
Unrealized loss on investments(1)(1)
Comprehensive loss$(9,059)$(2,230)$(11,289)
Basic and diluted net loss from continuing operations per common share$(0.15)$(0.18)
Basic and diluted weighted average common shares outstanding61,929,198 61,929,198 

The accompanying notes are an integral part of these unaudited pro forma consolidated financial statements.



MACROGENICS, INC.
NOTES TO UNAUDITED CONSOLIDATED PRO FORMA FINANCIAL INFORMATION
(Amounts in thousands, except share and per share data)
(unaudited)

The following is a description of the transaction accounting adjustments reflected in the unaudited pro forma consolidated financial statements which are consistent with the discontinued operations presentation reflected in the Company’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2026..

(a)    Sale Proceeds: Represents the net adjustment of $110.8 million to cash resulting from the sale of the Purchased Assets, which includes gross proceeds of $122.5 million less (i) estimated customary working capital adjustments and (ii) approximately $8.8 million of estimated transaction costs.
(b)    Derecognition of the Purchased Assets: Represents the derecognition of assets and liabilities related to the sale of the Purchased Assets. The derecognition of property, equipment and software is net of accumulated depreciation of approximately $70.0 million.
(c)    Accumulated deficit: The cumulative adjustments resulted in an adjustment to accumulated deficit of $91.7 million related to the gain recognized upon the derecognition of the Purchased Assets on March 31, 2026. The estimated gain was computed as follows:
(in thousands)March 31, 2026
Consideration recognized
Cash proceeds from sale$110,807 (a)
Less: Carrying value of the Purchased Assets(19,094)(b)
Estimated gain on derecognition of Purchased Assets$91,713 
(d)    Contract manufacturing revenue: Represents the elimination of revenue generated by the Purchased Assets.
(e)    Cost of manufacturing services: Represents the elimination of costs associated with the revenue generated by the Purchased Assets.