| Metric | Value ($ M) | Q1 FY25 |
|---|---|---|
| Revenue | 4.52 | 86.2% |
| Total Income | 4.52 | 86.2% |
| Expenditure | 82.38 | 8.5% |
| PBT | -128.64 | 166.5% |
| Net Profit | -128.92 | 166.3% |
| OPM | — | |
| NPM | — | |
| EPS | -1.71 | 159.1% |
Xencor Reports Q1 2026 Financial Results
07 May 2026 · 7 May, 1:38 am
Summary
Xencor, Inc. reported its financial results for the first quarter ended March 31, 2026. The company's revenue was $4.5 million, a decrease compared to $32.7 million for the same period in 2025. The net loss attributable to Xencor was $128.9 million, or $(1.71) per share, compared to a net loss of $48.4 million, or $(0.66) per share, for the same period in 2025. Xencor anticipates ending 2026 with cash, cash equivalents, and marketable debt securities between $380 million and $400 million. The company is advancing its clinical pipeline, with plans to present data and initiate studies for its XmAb programs.
Key Highlights
- 1
Xencor reported revenue of $4.5 million for the first quarter ended March 31, 2026, compared to $32.7 million for the same period in 2025.
- 2
Cash, cash equivalents and marketable debt securities totaled $541.8 million as of March 31, 2026, compared to $610.8 million as of December 31, 2025.
- 3
Research and development expenses for the first quarter ended March 31, 2026 were $64.7 million, compared to $58.6 million for the same period in 2025.
- 4
Net loss attributable to Xencor for the first quarter ended March 31, 2026 was $128.9 million, or $(1.71) on a fully diluted per share basis.
- 5
Xencor expects to end 2026 with between $380 million and $400 million in cash, cash equivalents and marketable debt securities.
- 6
Xencor plans to present XmAb819 clear cell renal cell carcinoma (ccRCC) expansion cohort results at a medical conference in 2H26.
- 7
The first-in-human healthy participant study of XmAb412 (TL1A x IL23p19) is on-track for 3Q26 start.
Management Comments
Bassil Dahiyat
Ph.D.
Xencor continues to execute across our wholly owned clinical pipeline, with significant progress in both oncology and autoimmune disease. We look forward to presenting expansion cohort data from our Phase 1 study of XmAb819 for the treatment of advanced clear cell renal cell carcinoma at a medical meeting in the second half of 2026, which will help support the initiation of our first pivotal study planned for 2027. Our TL1A pipeline continues to advance with strong enrollment in the global Phase 2b XENITH-UC Study of XmAb942 in ulcerative colitis supported by investigator enthusiasm for its potential best-in-class profile in moderately to severely active ulcerative colitis. We expect to complete a blinded interim analysis around year-end 2026 and complete the primary endpoint analysis for the study’s 12-week induction period during the second half of 2027. We also look forward to initiating the first-in-human study of XmAb412, our novel TL1A x IL23p19 bispecific antibody, in the third quarter of 2026. XmAb412 utilizes our novel XenLock™ Fab domain platform, which enables multi-specific biologics designed to address the very stringent requirements for high potency, long half-life and low immunogenicity in the treatment of autoimmune and inflammatory disease.”
Informational and educational content only. Not investment advice.