secwatch.observer — SEC 8-K summary
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Issuer:     Xencor Inc (XNCR)
CIK:        0001326732
Form:       8-K
Filed at:   2025-03-05T23:59:59+00:00
Accession:  0001326732-25-000032
Event type: other_material
Sentiment:  negative
Materiality: 0.80
Item codes: 4.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Xencor dismisses RSM as auditor over material weaknesses; appoints KPMG
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- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1326732/000132673225000032/0001326732-25-000032-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1326732/000132673225000032/xncr-20250227.htm
  HTML page:      https://secwatch.observer/filing/0001326732-25-000032

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