Subsequent Event |
9 Months Ended |
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Sep. 30, 2017 | |
Subsequent Events [Abstract] | |
Subsequent Event | Subsequent Events In October 2017, the Company entered into a global collaboration and license agreement with Incyte Corporation (Incyte) for the development and commercialization of MGA012, an investigational anti-PD-1 monoclonal antibody. Incyte has obtained exclusive worldwide rights for the development and commercialization of MGA012 in all indications, while the Company retains the right to develop its pipeline assets in combination with MGA012. As part of the MGA012 collaboration with Incyte, the Company retains the right to manufacture a portion of both companies' global clinical and commercial supply needs of MGA012. Upon closing, the Company will receive a $150.0 million upfront payment from Incyte. Assuming successful development and commercialization, the Company could receive up to $750.0 million in clinical, regulatory and commercialization milestone payments. If commercialized, the Company would be eligible to receive tiered royalties of 15% to 24% on global net sales of MGA012 by Incyte. The transaction is expected to close in the fourth quarter of 2017, subject to the early termination or expiration of any applicable waiting periods under Hart-Scott-Rodino Antitrust Improvements Act of 1976 and customary closing conditions. |