Xencor Q4 Revenue at $28.2M, Below Consensus
Reports Q4 revenue $28.2M, consensus $30M. "Xencor's lead oncology drug candidate is XmAb819, a novel first-in-class T-cell engager that could offer a much-needed new therapeutic modality for patients with advanced clear cell renal cell carcinoma (ccRCC). Excitement from the clinical community on our initial data from the dose-escalation study presented during ENA 2025 supports achieving our goal of presenting dose-expansion data during a medical meeting in the second half of 2026 and our plans to initiate a pivotal study during 2027," said Bassil Dahiyat, Ph.D., president and chief executive officer at Xencor. "Building on the early success in ccRCC, we recently opened additional dose expansion cohorts in other tumor types that have high ENPP3 expression: colorectal cancer, non-small cell lung cancer and papillary renal cell carcinoma. In 2026, we plan to present additional key clinical data and progress updates as we also advance XmAb541 and our ongoing B-cell depleting autoimmune programs, respectively. Our TL1A pipeline in inflammatory bowel disease continues to advance, as well. We are making great progress with enrollment in our Phase 2b XENITH-UC study of XmAb942 and are excited to begin the first-in-human study of XmAb412, our novel TL1A x IL23p19 bispecific antibody in the second half of 2026. We are proud of our execution across an evolved clinical pipeline and of the Xencor team's focus on designing proteins to deliver novel medicines for patients."
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Xencor Q4 Earnings Beat Expectations Despite Revenue Decline
- Earnings Beat: Xencor reported a Q4 GAAP EPS of -$0.09, surpassing expectations by $0.50, indicating resilience in profitability despite ongoing financial challenges.
- Significant Revenue Decline: The company’s revenue of $28.24 million represents a 46.5% year-over-year decrease, missing market expectations, which may impact investor confidence in a competitive biopharmaceutical landscape.
- Strong Cash Reserves: As of December 31, 2025, Xencor held $610.8 million in cash, cash equivalents, and marketable securities, down from $706.7 million in 2024, reflecting cautious financial management amid operational challenges.
- Optimistic Partnership Outlook: The late-stage trial success of the lymphoma therapy partnered with Incyte, along with its EU approval, suggests potential growth opportunities for Xencor in drug development and market expansion.
Incyte reveals EU authorization for lymphoma treatment developed in partnership with Xencor
Approval of Minjuvi: The European Commission has approved Incyte's drug Minjuvi, in combination with lenalidomide and rituximab, as a late-line treatment for adults with relapsed or refractory follicular lymphoma.
Second Indication: This approval marks the second indication for Minjuvi in the EU, following its conditional approval for use in relapsed or refractory diffuse large B-cell lymphoma.
Xencor Extends Ultomiris Patent to 2028, Anticipates $100M to $120M in Additional Revenue
- Patent Extension: Xencor has been granted U.S. Patent 12,492,253 covering its Xtend™ Fc domain, extending the patent term to December 2028, which is approximately three years longer than the previous patent, ensuring low-single digit royalty income from Ultomiris.
- Potential Revenue Growth: Based on consensus sales forecasts, Xencor anticipates receiving an additional $100 million to $120 million in royalties during the extended patent term, which will support funding for its internal pipeline as it advances in clinical development.
- Strategic Partnership: OMERS has acquired royalties due to Xencor on global Ultomiris sales starting in 2026, with potential annual revenues of up to $35 million, enhancing the company's financial stability as excess royalties revert to Xencor.
- Technological Advantage: Xencor's Xtend antibody half-life extension technology provides new therapeutic mechanisms for its XmAb medicines, driving innovation in cancer and autoimmune disease treatments, aligning with its long-term value creation strategy.
JP Morgan Keeps Overweight Rating on Xencor, Reduces Price Target to $18
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RBC Capital Reaffirms Outperform Rating for Xencor and Increases Price Target to $19
Real-time Intelligence: Benzinga Pro offers traders the fastest news alerts to stay updated on market movements.
Exclusive Stories: The platform provides unique stories generated by Benzinga reporters, enhancing trading insights.
Community Engagement: Over 10,000 serious traders are part of the Benzinga Pro community, sharing knowledge and strategies.
Market Winning Tools: Benzinga Pro equips traders with tools and information to improve their chances of success in the stock market.
Could Xencor's (XNCR) Preliminary Cancer Findings Indicate a New Advantage in Its Innovation Approach?
Xencor's Clinical Progress: Xencor, Inc. presented promising initial results from its Phase 1 study of XmAb819, a bispecific antibody targeting advanced clear cell renal cell carcinoma, highlighting the potential of its XmAb® 2+1 format for improved tumor targeting.
Investment Outlook: The company's future revenue projections suggest a significant increase by 2028, with a fair value estimate of $25.73 per share, indicating an 80% upside from its current price, though concerns remain about commercialization risks in competitive markets.
Xencor Q4 Earnings Beat Expectations Despite Revenue Decline
- Earnings Beat: Xencor reported a Q4 GAAP EPS of -$0.09, surpassing expectations by $0.50, indicating resilience in profitability despite ongoing financial challenges.
- Significant Revenue Decline: The company’s revenue of $28.24 million represents a 46.5% year-over-year decrease, missing market expectations, which may impact investor confidence in a competitive biopharmaceutical landscape.
- Strong Cash Reserves: As of December 31, 2025, Xencor held $610.8 million in cash, cash equivalents, and marketable securities, down from $706.7 million in 2024, reflecting cautious financial management amid operational challenges.
- Optimistic Partnership Outlook: The late-stage trial success of the lymphoma therapy partnered with Incyte, along with its EU approval, suggests potential growth opportunities for Xencor in drug development and market expansion.
Incyte reveals EU authorization for lymphoma treatment developed in partnership with Xencor
Approval of Minjuvi: The European Commission has approved Incyte's drug Minjuvi, in combination with lenalidomide and rituximab, as a late-line treatment for adults with relapsed or refractory follicular lymphoma.
Second Indication: This approval marks the second indication for Minjuvi in the EU, following its conditional approval for use in relapsed or refractory diffuse large B-cell lymphoma.
Xencor Extends Ultomiris Patent to 2028, Anticipates $100M to $120M in Additional Revenue
- Patent Extension: Xencor has been granted U.S. Patent 12,492,253 covering its Xtend™ Fc domain, extending the patent term to December 2028, which is approximately three years longer than the previous patent, ensuring low-single digit royalty income from Ultomiris.
- Potential Revenue Growth: Based on consensus sales forecasts, Xencor anticipates receiving an additional $100 million to $120 million in royalties during the extended patent term, which will support funding for its internal pipeline as it advances in clinical development.
- Strategic Partnership: OMERS has acquired royalties due to Xencor on global Ultomiris sales starting in 2026, with potential annual revenues of up to $35 million, enhancing the company's financial stability as excess royalties revert to Xencor.
- Technological Advantage: Xencor's Xtend antibody half-life extension technology provides new therapeutic mechanisms for its XmAb medicines, driving innovation in cancer and autoimmune disease treatments, aligning with its long-term value creation strategy.
JP Morgan Keeps Overweight Rating on Xencor, Reduces Price Target to $18
Fastest News Alerts: Benzinga Pro offers real-time intelligence to help traders stay updated and make informed decisions in the stock market.
Exclusive Stories: The platform provides unique stories and insights generated by Benzinga reporters, enhancing the trading experience for its users.
Community of Traders: Over 10,000 serious traders are part of the Benzinga Pro community, benefiting from shared knowledge and resources.
Market Intelligence: Benzinga Pro is positioned as a source for the most accurate and timely stock market intelligence available.
RBC Capital Reaffirms Outperform Rating for Xencor and Increases Price Target to $19
Real-time Intelligence: Benzinga Pro offers traders the fastest news alerts to stay updated on market movements.
Exclusive Stories: The platform provides unique stories generated by Benzinga reporters, enhancing trading insights.
Community Engagement: Over 10,000 serious traders are part of the Benzinga Pro community, sharing knowledge and strategies.
Market Winning Tools: Benzinga Pro equips traders with tools and information to improve their chances of success in the stock market.
Could Xencor's (XNCR) Preliminary Cancer Findings Indicate a New Advantage in Its Innovation Approach?
Xencor's Clinical Progress: Xencor, Inc. presented promising initial results from its Phase 1 study of XmAb819, a bispecific antibody targeting advanced clear cell renal cell carcinoma, highlighting the potential of its XmAb® 2+1 format for improved tumor targeting.
Investment Outlook: The company's future revenue projections suggest a significant increase by 2028, with a fair value estimate of $25.73 per share, indicating an 80% upside from its current price, though concerns remain about commercialization risks in competitive markets.
