Xencor dismisses RSM as auditor over material weaknesses; appoints KPMG

Xencor Inc

RSM dismissed Feb 27, 2025; KPMG appointed effective Mar 3, 2025.
Material weaknesses in controls over non-routine royalty sale accounting and tax legislation led to restatement of FY2023 and Q1-Q3 2024 financials.
RSM recalled its 2023 audit opinions and interim reviews; internal control reports flagged weaknesses.
Additional material weakness in impairment analysis of Zenas equity investment was remediated by Q3 2024.
No disagreements with RSM; company requested letter to SEC, not yet received.

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.