Xencor reported second quarter 2026 financial results with revenue of $51.2 million and a net loss of $21.7 million, or $(0.29) per diluted share. Revenue increased from $43.6 million in the prior year period, driven by milestone payments from Zenas BioPharma and royalties from Alexion following a settlement agreement that resolved a dispute over U.S. Ultomiris sales rights. Research and development expenses rose to $71.9 million due to increased pipeline spending, while general and administrative costs remained stable at $16.4 million. The company holds $486.4 million in cash and expects sufficient resources to fund operations through 2028. Pipeline updates include enrollment for XmAb819 expansion cohorts, on-track XENITH-UC study progress for XmAb942, and the initiation of a Phase 1 study for XmAb412. Xencor is a clinical-stage biopharmaceutical company developing engineered antibodies for cancer and autoimmune diseases.

Xencor, Inc. entered into a settlement agreement with Alexion Pharma International Operations Limited to resolve a commercial dispute regarding U.S. royalties on Ultomiris® (ravulizumab-cwvz). Under the terms of the agreement, Xencor will receive an aggregate payment of $105 million, structured as two equal installments of $52.5 million each. The first payment is anticipated in August 2026, with the second due within 14 days following the one-year anniversary of the settlement date. This resolution ends Alexion's obligation to pay royalties on U.S. sales of Ultomiris, while existing terms for ex-U.S. royalties remain unchanged. Consequently, Xencor has updated its financial guidance, stating it expects sufficient cash resources to fund research and development programs and operations through 2028. Xencor is a clinical-stage biopharmaceutical company developing engineered antibodies for the treatment of cancer and autoimmune diseases.