Xencor Q2 net loss widens to $66M; revenue falls 63% YoY to $17M

Xencor Inc

2024-Q2 EPS reported -$2.18 revenue$29,765,000

Net loss $66.0M ($1.07 diluted EPS) vs $22.0M ($0.37) in Q2 2023; net loss $134M YTD.
Revenue $17.0M, down from $45.5M; primarily non-cash royalty and licensing; no J&J milestone.
Cash $585M as of June 30, down from $697M at Dec 31; FY2024 cash guidance $475-525M.
Regained exclusive worldwide rights to plamotamab (CD20 x CD3), a Phase 2-ready bispecific T-cell engager.
Vudalimab (PD-1 x CTLA-4) data update and advancement decision for mCRPC expected H1 2025.

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