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Xencor — Third Quarter 2026 Earnings Summary

  • Revenue surged to $116.5 million in Q3 2026 from $21.0 million in the prior year, driving a shift to net income of $39.4 million ($0.50 per share) compared to a $6.0 million loss in 2025.
  • Cash and marketable securities decreased to $555.7 million as of September 30, 2026, from $610.8 million at year-end 2025, though the company projects ending 2026 with $480–$500 million in liquidity sufficient to fund operations into 2029.
  • XmAb819 advanced to a recommended Phase 3 dose of 400 mcg/kg IV for ccRCC following 45.5% confirmed objective response rates, with FDA engagement planned for H1 2027 and a global Phase 3 study targeted for late 2027.
  • Strategic partnerships generated significant milestone revenue, including a $25.0 million payment from Astellas for ASP2138 and a $2.5 million payment from Zenas BioPharma, alongside ongoing Amgen collaboration for xaluritamig.
  • Management highlighted a positive outlook for the autoimmune portfolio, with the XENITH-UC study on track for interim analysis in late 2026 and initial data expected for XmAb412 in H1 2027.
Company
XENCOR INC
Sector
Healthcare
Industry
Biotechnology