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Jun 30, 2023
Xencor Q2 2023 Earnings Report
Reported financial results for the second quarter ended June 30, 2023.
Key Takeaways
Xencor reported a total revenue of $45.5 million for the second quarter of 2023, compared to $30.2 million for the same period in 2022. The net loss for the quarter was $22.0 million, or $(0.37) per share, compared to a net loss of $34.0 million, or $(0.57) per share, for the same period in 2022.
Advanced a clinical portfolio of XmAb drug candidates, enrolling patients across multiple Phase 1 and Phase 2 studies in oncology and autoimmune diseases.
Anticipate opening a Phase 2 study to evaluate vudalimab as a front-line treatment in metastatic non-small cell lung cancer by year end.
Initiated a Phase 1 study of potency-tuned IL12-Fc, XmAb662, to be developed in oncology.
Earned $11.2 million of royalty revenue from Alexion on net sales of Ultomiris and a $10 million development milestone related to Zenas’ Phase 3 study evaluating obexelimab in patients with immunoglobulin G4-related disease (IgG4-RD).
Forward Guidance
Xencor expects to have cash to fund research and development programs and operations through the end of 2025. The Company expects to end 2023 with between $425 million and $475 million in cash, cash equivalents, receivables and marketable debt securities.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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