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Jun 30, 2024
Xencor Q2 2024 Earnings Report
Reported financial results for the second quarter ended June 30, 2024.
Key Takeaways
Xencor reported revenues of $17.0 million and a net loss of $66.0 million for the second quarter ended June 30, 2024. The company's cash, cash equivalents, and marketable debt securities totaled $585.0 million as of June 30, 2024. They expect 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.
Xencor is focused on developing first-in-class bispecific T-cell engagers and additional XmAb® candidates.
Dose-escalation studies of XmAb819 and XmAb808 are on track to reach target dose levels by year end.
XmAb541 is off to a strong clinical start with initial study enrollment.
Xencor regained exclusive worldwide rights to plamotamab (CD20 x CD3).
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.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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