Xencor (XNCR) Posts Q2 EPS of $1.13

Xencor (NASDAQ: XNCR) reported Q2 EPS of $1.13, $1.31 better than the analyst estimate of ($0.18). Revenue for the quarter came in at $66 million versus the consensus estimate of $7.43 million.

"In the second quarter, we strengthened our internal development pipeline with the addition of two new bispecific oncology candidates, XmAb®18087 for the treatment of neuroendocrine tumors and XmAb®20717, for the treatment of multiple cancers. We also entered into a strategic collaboration with Novartis, in which we jointly develop XmAb®14045 and XmAb®13676 for the treatment of acute myeloid leukemia and B-cell malignancies, respectively, while retaining U.S. commercialization rights to both compounds," said Bassil Dahiyat, Ph.D., president and chief executive officer of Xencor. "Taken together, we now expect to have 13 wholly-owned or partnered XmAb® antibodies in the clinic by 2018, including four XmAb bispecific antibodies. With $168.8 million in cash and cash equivalents at the end of the second quarter, coupled with the $150 million upfront payment received from Novartis in the third quarter, we remain well-financed to advance the development of our clinical programs and platform."

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

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