Date: April 6, 2017

MacroGenics CEO Koenig’s compensation declined 80 percent in 2016

imgresROCKVILLE, MD — The chief executive officer of MacroGenics made $783,000 in compensation in 2016 after making $3.9 million in 2015, according to a filing with the Securities and Exchange Commission Tuesday.

CEO Scott Koenig’s base salary of $535,000 increased 3 percent from 2015. He was paid a bonus of $240,000 in 2016. He received no stock option awards in 2016 after receiving $3.1 million in stock option awards in 2015.

The clinical stage biopharmaceutical company has a market capitalization of $600 million and focuses on the development of treatments that use the immune system to fight cancer.

Shares closed Thursday at $17.21, down 1.5 percent. The 52-week range is $16.28 to $33.30.

MacroGenics’ stock price hit a five-year low of $15.82 on Feb. 26 of last year before rebounding to a 2016 high of $31.51 on Aug. 5.

In 2016, the company initiated a Phase 1 study of its own anti-PD-1 antibody and also showed that its autoimmune-based DART molecule achieved the anticipated biological effects in a Phase 1 study.

Koenig, 64, said on the company’s fourth quarter conference call on Feb. 28, “I think it is a key takeaway for the investment community today that each of our proprietary oncology programs in the clinic has shown initial evidence of anti-tumor activity. Clearly, this is very encouraging.”

This story is from the Maryland Business News Wire, a service of UNC-Chapel Hill’s School of Media and Journalism

 

TRX Systems raises $400,000 in equity

TRXGREENBELT, MD — A Maryland-based security technology company raised $400,000 in a private equity offering, according to a filing with the Securities and Exchange Commission.

TRX Systems Inc. provides mapping and personnel location in areas where GPS is not available. It is the first company to use sensor fusion and dynamic mapping to pinpoint location indoors.

According to the Form D, proceeds will be used for working capital which will include normal compensation to executive officers and managers.

The offering is not being made in connection with a business combination transaction, and is not intended to last more than one year.

TRX Systems, founded in 2001, is the developer of the NEON Indoor Location Solution and the NEON Personnel Tracker.

On Feb. 27, the company announced in a press release that the NEON Personnel Tracker application was used by the Houston Police to help ensure public safety in NRG Stadium for Super Bowl LI.

The company has a large portfolio including 12 patents issued in the U.S., 15 internationally and 24 pending.

The company claimed a Rule 506 (b) exemption for the filing. Companies relying on the Rule 506 exemption do not have to register their offering of securities with the SEC, but they must file a Form D electronically with the SEC after they first sell their securities.

 This story is from the Maryland Business News Wire, a service of UNC-Chapel Hill’s School of Media and Journalism

Follow

Follow this website

Get every new post delivered right to your inbox.

Email address