Quarterly ResultAug 5, 2026, 04:10 PM
Xencor H1 Net Loss Widens to $150.6M; Alexion Royalty Dispute Settled
AI Summary
Xencor Inc. reported a significant increase in net loss for the first half of 2026, reaching $150.6 million, compared to $79.5 million in the prior year. Revenue for the period decreased by 27% to $55.7 million. The company resolved a royalty dispute with Alexion, recognizing $27.6 million in Ultomiris royalties for the period through June 30, 2026, with an additional $77.4 million expected in Q3 2026. Xencor also received a $10.0 million milestone payment from Zenas BioPharma.
Key Highlights
- Net loss for H1 2026 was $150.6 million, compared to $79.5 million in H1 2025.
- Total revenue for H1 2026 was $55.7 million, a 27% decrease from $76.3 million in H1 2025.
- Q2 2026 net loss improved to $21.7 million from $30.8 million in Q2 2025.
- Recognized $27.6 million in Ultomiris royalty revenue from Alexion settlement in Q2 2026.
- Received a $10.0 million milestone payment from Zenas BioPharma for obexelimab BLA submission.
- Research and development expenses increased to $136.6 million in H1 2026.
- Cash and cash equivalents stood at $44.7 million as of June 30, 2026.
- Monjuvi royalty cap of $29.3 million was reached in Q2 2026, with future royalties reverting to Xencor.
Price Impact
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