Recent Updates — XNCR

Xencor announced updated Phase 1 results for XmAb819, an ENPP3 x CD3 bispecific antibody, in patients with advanced clear cell renal cell carcinoma. The company selected 400 mcg/kg as the proposed recommended Phase 3 dose based on a 45.5% confirmed objective response rate and an 82% six-month progression-free survival estimate. Xencor plans to initiate a global randomized registration-enabling study comparing XmAb819 to tivozanib by year-end 2027 and intends to discuss an accelerated approval pathway with the FDA in early 2027. The company also confirmed it expects cash resources to fund operations into 2029. Xencor is a clinical-stage biopharmaceutical company developing engineered antibodies for cancer and autoimmune diseases.

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.