The deal team of Jon Talcott, Peter Strand, Mike Bradshaw, and Kaylen Loflin represented Cowen and Company, LLC, in a $200 million at-the-market (ATM) public offering of common stock of MacroGenics, Inc., a Bethesda, Maryland-based biopharmaceutical company that focuses on the development of antibody-based therapeutics designed to treat cancer. MacroGenics’ first commercial product, MARGENZA, was launched in March 2021. Cowen was the sole sales agent for the offering.

An ATM program allows a public company to raise capital on an as-needed basis by periodically offering newly issued securities into the existing public trading market. ATM programs have become increasingly common and allow the issuer to maintain flexibility through discretion over the timing and price of sales while minimizing the market impact of such sales.

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