Xencor Q1 2024 Earnings Report
Key Takeaways
Xencor reported a net loss of $68.0 million, or $(1.11) per share, for the first quarter ended March 31, 2024. Revenues for the quarter were $12.8 million, compared to $19.0 million for the same period in 2023. Cash, cash equivalents and marketable debt securities totaled $646.7 million as of March 31, 2024.
First patient dosed in Phase 1 study of XmAb®541 (CLDN6 x CD3) for CLDN6-positive tumors.
FDA approved Ultomiris® (Alexion Pharmaceuticals, Inc.) for adults with NMOSD.
Single dose of investigational antibody with Xtend™ confers protection against malaria infection.
Bart Cornelissen was appointed as Xencor’s senior vice president and chief financial officer.
Xencor
Xencor
Forward Guidance
Xencor expects to end 2024 with between $475 million and $525 million in cash, cash equivalents and marketable debt securities, and to have cash to fund research and development programs and operations into 2027.