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Xencor reported Q2 2026 revenue of $51.2 million, up from $43.6 million a year earlier, driven mainly by higher Ultomiris royalties from Alexion and a $10.0 million milestone from Zenas for the obexelimab BLA filing. Alexion-related royalty revenue rose to $37.3 million in the quarter.
Research and development expenses increased to $71.9 million, with continued investment across oncology and autoimmune programs, while general and administrative costs were $16.4 million. Net loss for Q2 narrowed to $21.7 million (‑$0.29 per share) from $30.8 million.
As of June 30, 2026, Xencor held $486.4 million in cash, cash equivalents, and marketable debt securities, versus $610.8 million at year-end 2025, and believes this will fund operations for at least 12 months. After quarter-end, Alexion agreed to pay an aggregate $105.0 million to resolve the Ultomiris U.S. royalty dispute, eliminating future U.S. royalties while preserving ex‑U.S. royalty rights.
Xencor reported second-quarter 2026 revenue of $51.2 million and a net loss of $21.7 million (–$0.29 per share), compared with $43.6 million revenue and a $30.8 million loss a year earlier. Cash, cash equivalents and marketable debt securities were $486.4 million at June 30, 2026.
Revenue reflected milestone income from Zenas BioPharma and royalties from Alexion and Incyte, including $27.6 million of U.S. Ultomiris royalties recognized after resolving a dispute with Alexion. Under a new settlement, Xencor will receive a total of $105 million, with the remaining $77.4 million to be recognized in the third quarter of 2026.
Management expects to end 2026 with $420–$440 million in cash and to fund operations through 2028. The pipeline advanced with multiple Phase 1 and 2 studies, FDA Fast Track designation for XmAb541 in germ cell tumors, and an oral ESMO 2026 presentation of Phase 1 data for the renal cancer candidate XmAb819.
Vanguard Capital Management reports beneficial ownership of Xencor Inc common stock on a Schedule 13G. Vanguard and certain affiliates hold 3,810,823 shares, representing 5.13% of the outstanding common stock.
Vanguard has sole voting power over 532,021 shares and sole dispositive power over 3,810,823 shares, with no shared voting or dispositive power. The holdings include securities held by various Vanguard funds and managed accounts for which Vanguard or its specified affiliates exercise voting and/or dispositive power. Vanguard states that no other single person’s interest in these securities exceeds 5% of the class.
Xencor, Inc. entered into a Settlement Agreement with Alexion Pharma International Operations Limited to resolve a commercial dispute over U.S. royalties on Ultomiris (ravulizumab-cwvz). Under the agreement, Xencor will receive $105 million in two equal cash payments of $52.5 million.
The first payment is anticipated in August 2026, and the second is due within 14 days after the one-year anniversary of the Settlement Agreement. In exchange, Alexion will have no further obligation to pay royalties on U.S. sales of Ultomiris, while royalties on ex-U.S. sales continue unchanged. Based on current operating plans, Xencor expects to have cash resources to fund research and development programs and operations through 2028.
Xencor Inc director Ellen Feigal received new equity awards. She acquired 10,302 restricted stock units that will fully vest on the first anniversary of the June 16, 2026 grant date. She also received stock options for 20,604 shares at an exercise price of $12.20 per share, vesting in equal monthly installments over one year until June 16, 2027. Following the restricted stock grant, her directly owned common stock holdings total 22,642 shares.
Xencor Inc director Kevin Charles Gorman received new equity awards as compensation. On June 16, 2026 he was granted 10,302 restricted stock units that will fully vest on the first anniversary of the grant date.
He was also granted stock options covering 20,604 shares of common stock at an exercise price of $12.20 per share, expiring on June 15, 2036. These options vest in equal monthly installments over one year beginning one month after June 16, 2026, becoming fully vested on June 16, 2027. Following the grants, he directly holds 21,680 shares of common stock.
Xencor Inc director Kurt A. Gustafson reported equity awards rather than open-market trades. He received 10,302 shares of Common Stock as restricted stock units that will fully vest on the first anniversary of the grant date. Following this award, he directly holds 25,011 Common shares.
Gustafson also received stock options for 20,604 shares of Common Stock at an exercise price of $12.20 per share. These options vest in equal monthly installments over one year beginning on the one-month anniversary of June 16, 2026 and will be fully vested on June 16, 2027, with an expiration date of June 15, 2036. All transactions are coded as awards, not open-market purchases or sales.
Xencor Inc director Barbara Klencke reported equity compensation awards. She received 10,302 shares of common stock in the form of restricted stock units that will fully vest on the first anniversary of the June 16, 2026 grant. She was also granted options to buy 20,604 shares of common stock at an exercise price of $12.20 per share, vesting in equal monthly installments over one year and expiring on June 15, 2036. Following these awards, she directly holds 29,974 shares of common stock and options on 20,604 shares.
Xencor Inc director Alan Bruce Montgomery reported receiving equity compensation rather than buying shares on the market. He was granted 10,302 restricted stock units that vest fully on the first anniversary of the grant date. He also received options for 20,604 shares at an exercise price of $12.20, vesting in equal monthly installments over one year until June 16, 2027. After the RSU grant, his direct common stock holdings total 25,849 shares, and he holds 20,604 options.
Xencor Inc director Richard J. Ranieri received new equity awards as compensation. On June 16, 2026, he was granted 10,302 shares of common stock in the form of restricted stock units that will fully vest on the first anniversary of the grant date. He was also granted options to buy 20,604 shares of common stock at an exercise price of $12.20 per share, vesting in equal monthly installments over one year so that all option shares are vested by June 16, 2027. Following the grant, he directly holds 24,011 shares of common stock.