\nMagenta Therapeutics, Inc. (Nasdaq: MGTA), a clinical-stage biotechnology company developing novel medicines to bring the curative power of stem cell transplants to more patients, today reported financial results for the second quarter ended June 30, 2021, and recent program highlights.\n<\/p>\n
\n\u201cThe Magenta team has been hard at work prioritizing the advancement of our program portfolio, now with multiple clinical trials underway, including the two Phase 2 clinical trials of MGTA-145. We plan to initiate a Phase 1\/2 trial of MGTA-117 in patients with Acute Myeloid Leukemia (AML) and Myelodysplastic Syndromes (MDS), assuming we are successful in resolving the clinical hold on our Investigational New Drug (IND) Application, and we also plan to initiate a Phase 2 clinical trial of MGTA-145 plus plerixafor for mobilization and collection of stem cells in patients with sickle cell disease,\u201d said Jason Gardner, D.Phil., President and Chief Executive Officer, Magenta Therapeutics. \u201cWe remain laser-focused on developing transformative mobilization and conditioning treatments for the many patients who stand to benefit.\u201d\n<\/p>\n
Business Highlights:<\/span><\/b><\/p>\n Program Highlights: <\/span><\/b><\/p>\n MGTA-145 Stem Cell Mobilization and Collection<\/b><\/p>\n Recent and Planned Activity: <\/b><\/p>\n MGTA-117 Targeted Conditioning<\/b><\/p>\n Recent and Planned Activity: <\/b><\/p>\n Additional Business Update:<\/span><\/b><\/p>\n \nThe company also announced today that Mike Bonney resigned from the company\u2019s Board of Directors and its committees, effective August 3, 2021, to focus on his newly expanded role as Executive Chair of Alnylam Pharmaceuticals, Inc. The resignation was not the result of any disagreement with the company nor any of its affiliates on any matter relating to the company’s operations, policies or practices. In connection with Mr. Bonney\u2019s resignation, the size of the Board was reduced from 10 members to nine members and Alison Lawton, currently a member of the Board, was appointed Chair of the Board, and Jeff Albers, also a current member of the Board, was appointed to the Board\u2019s audit committee.\n<\/p>\n \n“I would like to thank Mike for his contribution to Magenta\u2019s success through the years,\u201d commented Dr. Gardner. \u201cWe are grateful for his support and wish him the very best in the future. We are also extremely pleased to announce the expansion of Alison\u2019s role as Chair, bringing us more than 30 years of experience in the biopharmaceutical industry, as an executive and board member, as well as in a wide range of operational roles.”\n<\/p>\n Financial Results:<\/span><\/b><\/p>\n Cash Position: <\/b>Cash, cash equivalents and marketable securities as of June 30, 2021 were $207.8 million, compared to $148.8 million as of December 31, 2020. Magenta anticipates that its cash, cash equivalents and marketable securities will be sufficient to fund operations and capital expenditures into Q3 2023.\n<\/p>\n Research and Development Expenses: <\/b>Research and development expenses were $11.1 million in Q2 2021, compared to $12.6 million in Q2 2020. The decrease was driven primarily by the completion of the GMP manufacturing activities to support the IND Application for MGTA-117 and future clinical trials.\n<\/p>\n General and Administrative Expenses:<\/b> General and administrative expenses were $6.5 million for Q2 2021, compared to $7.4 million for Q2 2020.\n<\/p>\n Net Loss: <\/b>Net loss was $16.9 million for Q2 2021, compared to net loss of $19.1 million for Q2 2020.\n<\/p>\n About Magenta Therapeutics <\/b><\/p>\n \nMagenta Therapeutics is a clinical-stage biotechnology company developing medicines to bring the curative power of stem cell transplants to more patients with blood cancers, genetic diseases and autoimmune diseases. Magenta is combining leadership in stem cell biology and biotherapeutics development with clinical and regulatory expertise, a unique business model and broad networks in the stem cell transplant community to revolutionize immune reset for more patients.\n<\/p>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 11,129\n<\/p>\n<\/td>\n \n\u00a0$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 12,610\n<\/p>\n<\/td>\n \n\u00a0$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 22,857\n<\/p>\n<\/td>\n \n\u00a0$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 26,573\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 6,481\n<\/p>\n<\/td>\n \n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 7,402\n<\/p>\n<\/td>\n \n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 13,450\n<\/p>\n<\/td>\n \n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 14,683\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 17,610\n<\/p>\n<\/td>\n \n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 20,012\n<\/p>\n<\/td>\n \n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 36,307\n<\/p>\n<\/td>\n \n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 41,256\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 (17,610)\n<\/p>\n<\/td>\n \n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 (20,012)\n<\/p>\n<\/td>\n \n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 (36,307)\n<\/p>\n<\/td>\n \n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 (41,256)\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 682\n<\/p>\n<\/td>\n \n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 933\n<\/p>\n<\/td>\n \n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 1,890\n<\/p>\n<\/td>\n \n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 2,166\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 (16,928)\n<\/p>\n<\/td>\n \n\u00a0$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 (19,079)\n<\/p>\n<\/td>\n \n\u00a0$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 (34,417)\n<\/p>\n<\/td>\n \n\u00a0$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 (39,090)\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 (0.32)\n<\/p>\n<\/td>\n \n\u00a0$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 (0.48)\n<\/p>\n<\/td>\n \n\u00a0$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 (0.67)\n<\/p>\n<\/td>\n \n\u00a0$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 (0.99)\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 53,705,289\n<\/p>\n<\/td>\n \n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 39,611,837\n<\/p>\n<\/td>\n \n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 51,150,391\n<\/p>\n<\/td>\n \n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 39,488,137\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 207,805\n<\/p>\n<\/td>\n \n\u00a0$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 148,835\n<\/p>\n<\/td>\n \n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 199,103\n<\/p>\n<\/td>\n \n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 140,097\n<\/p>\n<\/td>\n \n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 220,378\n<\/p>\n<\/td>\n \n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 161,619\n<\/p>\n<\/td>\n \n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 202,892\n<\/p>\n<\/td>\n \n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 143,906\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20210805005403\/en\/<\/a><\/span><\/p>\n \nMagenta Therapeutics KEYWORDS:<\/b> United States North America Massachusetts<\/p>\n INDUSTRY KEYWORDS:<\/b> Oncology FDA Health Clinical Trials Pharmaceutical Biotechnology<\/p>\n\n
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\n Magenta Therapeutics, Inc.\u00a0<\/b><\/td>\n \u00a0<\/td>\n \u00a0<\/td>\n \u00a0<\/td>\n<\/tr>\n \n \u00a0<\/b><\/td>\n \u00a0<\/b><\/td>\n \u00a0<\/b><\/td>\n \u00a0<\/b><\/td>\n \u00a0<\/b><\/td>\n \u00a0<\/b><\/td>\n \u00a0<\/b><\/td>\n \u00a0<\/b><\/td>\n \u00a0<\/b><\/td>\n<\/tr>\n \n STATEMENTS OF OPERATIONS\u00a0<\/b><\/td>\n \u00a0<\/td>\n \u00a0<\/td>\n \u00a0<\/td>\n<\/tr>\n \n (unaudited)<\/b><\/td>\n \u00a0<\/td>\n \u00a0<\/td>\n \u00a0<\/td>\n<\/tr>\n \n (In thousands, except share and per share data)\u00a0<\/b><\/td>\n \u00a0<\/td>\n \u00a0<\/td>\n \u00a0<\/td>\n<\/tr>\n \n \u00a0<\/b><\/td>\n \u00a0<\/b><\/td>\n \u00a0<\/b><\/td>\n \u00a0<\/b><\/td>\n \u00a0<\/b><\/td>\n \u00a0<\/b><\/td>\n \u00a0<\/b><\/td>\n<\/tr>\n \n \u00a0<\/td>\n \u00a0<\/b><\/td>\n Three Months Ended June 30,<\/b><\/td>\n \u00a0<\/td>\n Six Months Ended June 30,<\/b><\/td>\n<\/tr>\n \n \u00a0<\/td>\n \u00a0<\/td>\n \n \u00a0<\/td>\n \n \u00a0<\/td>\n \n \u00a0<\/td>\n \n \n Operating expenses:<\/td>\n \u00a0<\/b><\/td>\n \u00a0<\/td>\n \u00a0<\/td>\n \u00a0<\/td>\n \u00a0<\/td>\n \u00a0<\/td>\n \u00a0<\/td>\n \u00a0<\/td>\n<\/tr>\n \n Research and development<\/td>\n \u00a0<\/td>\n \n \u00a0<\/td>\n \n \u00a0<\/td>\n \n \u00a0<\/td>\n \n \n General and administrative<\/td>\n \u00a0<\/td>\n \n \u00a0<\/td>\n \n \u00a0<\/td>\n \n \u00a0<\/td>\n \n \n Total operating expenses<\/td>\n \u00a0<\/td>\n \n \u00a0<\/td>\n \n \u00a0<\/td>\n \n \u00a0<\/td>\n \n \n Loss from operations<\/td>\n \u00a0<\/b><\/td>\n \n \u00a0<\/td>\n \n \u00a0<\/td>\n \n \u00a0<\/td>\n \n \n Interest and other income, net<\/td>\n \u00a0<\/td>\n \n \u00a0<\/td>\n \n \u00a0<\/td>\n \n \u00a0<\/td>\n \n \n Net loss<\/td>\n \u00a0<\/td>\n \n \u00a0<\/td>\n \n \u00a0<\/td>\n \n \u00a0<\/td>\n \n \n Net loss per share, basic and diluted<\/td>\n \u00a0<\/td>\n \n \u00a0<\/td>\n \n \u00a0<\/td>\n \n \u00a0<\/td>\n \n \n Weighted average common shares outstanding, basic and diluted<\/td>\n \u00a0<\/td>\n \n \u00a0<\/td>\n \n \u00a0<\/td>\n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \u00a0<\/td>\n \u00a0<\/td>\n \u00a0<\/td>\n \u00a0<\/td>\n \u00a0<\/td>\n \u00a0<\/td>\n \u00a0<\/td>\n \u00a0<\/td>\n<\/tr>\n \n \u00a0<\/td>\n \u00a0<\/td>\n \u00a0<\/td>\n \u00a0<\/td>\n \u00a0<\/td>\n \u00a0<\/td>\n \u00a0<\/td>\n \u00a0<\/td>\n \u00a0<\/td>\n<\/tr>\n \n BALANCE SHEET DATA<\/b><\/td>\n \u00a0<\/td>\n \u00a0<\/td>\n \u00a0<\/td>\n<\/tr>\n \n (unaudited)<\/b><\/td>\n \u00a0<\/td>\n \u00a0<\/td>\n \u00a0<\/td>\n<\/tr>\n \n (In thousands)\u00a0<\/b><\/td>\n \u00a0<\/td>\n \u00a0<\/td>\n \u00a0<\/td>\n<\/tr>\n \n \u00a0<\/b><\/td>\n \u00a0<\/b><\/td>\n \u00a0<\/b><\/td>\n \u00a0<\/b><\/td>\n \u00a0<\/td>\n \u00a0<\/td>\n \u00a0<\/td>\n<\/tr>\n \n \u00a0<\/td>\n \u00a0<\/td>\n June 30, 2021<\/b><\/td>\n \u00a0\u00a0<\/td>\n December 31, 2020<\/b><\/td>\n \u00a0<\/td>\n \u00a0<\/td>\n \u00a0<\/td>\n \u00a0<\/td>\n<\/tr>\n \n Cash, cash equivalents and marketable securities<\/td>\n \u00a0<\/td>\n \n \u00a0<\/td>\n \n \u00a0<\/td>\n \u00a0<\/td>\n \u00a0<\/td>\n \u00a0<\/td>\n<\/tr>\n \n Working capital<\/td>\n \u00a0<\/td>\n \n \u00a0<\/td>\n \n \u00a0<\/td>\n \u00a0<\/td>\n \u00a0<\/td>\n \u00a0<\/td>\n<\/tr>\n \n Total assets<\/td>\n \u00a0<\/td>\n \n \u00a0<\/td>\n \n \u00a0<\/td>\n \u00a0<\/td>\n \u00a0<\/td>\n \u00a0<\/td>\n<\/tr>\n \n Stockholders’ equity\u00a0<\/td>\n \u00a0<\/td>\n \n \u00a0<\/td>\n \n \u00a0<\/td>\n \u00a0<\/td>\n \u00a0<\/td>\n \u00a0<\/td>\n<\/tr>\n<\/table>\n <\/p>\n
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Lyndsey Scull, Director, Corporate Communications
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202-213-7086
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lscull@magentatx.com <\/a><\/p>\n
![\"Logo\"](\"https:\/\/mms.businesswire.com\/media\/20210805005403\/en\/817767\/3\/Magenta_logo.jpg\"){kind=logo}
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