Xencor (XNCR) Tops Q3 EPS by 37c

Xencor (NASDAQ: XNCR) reported Q3 EPS of ($0.18), $0.37 better than the analyst estimate of ($0.55). Revenue for the quarter came in at $21.76 million versus the consensus estimate of $7.39 million.

“The plug-and-play nature of Xencor’s XmAb® technology has enabled the development of a broad and diversified portfolio of therapeutic bispecific antibodies and cytokines, including six programs currently being evaluated in Phase 1 studies. Our strong financial position will support expanded clinical development plans for these programs, as well as research into a growing set of opportunities,” said Bassil Dahiyat, Ph.D., president and chief executive officer at Xencor. “Our technology’s inherent portability also allows us to provide partners with selective access, and our partners’ near-term plans to initiate Phase 1 studies evaluating XmAb bispecifics represent continued validation of our bispecific platform and Fc engineering capabilities.”

Financial Guidance

Based on current operating plans, Xencor expects to have cash to fund research and development programs and operations beyond 2024. Xencor expects to end 2019 with between $590 million and $625 million in cash, cash equivalents and marketable securities.

For earnings history and earnings-related data on Xencor (XNCR) click here.

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