Xencor Q3 net loss $45.1M ($0.71 EPS), revenue down 82% YoY; cash $754M

Xencor Inc

2024-Q3 EPS reported -$2.87 revenue$40,475,000

Net loss of $45.1M ($0.71 diluted EPS) vs net loss of $24.3M ($0.40) in Q3 2023.
Revenue of $10.7M, down 82% YoY from $59.2M, driven by lower milestone and royalty revenue.
Cash and marketable securities $754.3M as of Sept 30, 2024, up from $697M at Dec 31, 2023; includes $189.2M net proceeds from September public offering.
Program updates: XmAb942 Phase 1 started; plamotamab Phase 1b/2a in RA planned H1 2025; XmAb808 DLTs in highest dose cohort.
Amgen's xaluritamig advancing to Phase 3 in mCRPC; Xencor expects 2024 year-end cash $690-710M, funding into 2028.

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