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Sep 30, 2024
Xencor Q3 2024 Earnings Report
Xencor's financial performance and clinical program advancements were reported.
Key Takeaways
Xencor reported Q3 2024 financial results, including revenues of $10.7 million and a net loss of $45.1 million. The company highlighted progress in its clinical pipeline, particularly in oncology and autoimmune programs, and announced Amgen's advancement of xaluritamig into Phase 3 development. Xencor's cash, cash equivalents, and marketable debt securities totaled $754.3 million as of September 30, 2024.
Xencor announced new clinical development plans for plamotamab (CD20 x CD3) and XmAb657 (CD19 x CD3) to target autoimmune diseases.
Xencor's public offering raised $201.3 million in gross proceeds.
Amgen's xaluritamig is advancing into Phase 3 development for prostate cancer.
Xencor anticipates reaching target dose levels for XmAb819 (ENPP3 x CD3) by year end and plans to provide a clinical update around initiation of the first dose expansion cohort during the first half of 2025.
Forward Guidance
Xencor expects to end 2024 with between $690 million and $710 million in cash, cash equivalents and marketable debt securities, and to have cash to fund research and development programs and operations into 2028.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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