Xencor Inc. ( (XNCR) ) has released its Q4 earnings. Here is a breakdown of the information Xencor Inc. presented to its investors.
Xencor, Inc. is a clinical-stage biopharmaceutical company specializing in the development of engineered antibodies for cancer and autoimmune diseases, utilizing its proprietary XmAb® technology to enhance therapeutic mechanisms.
In its latest earnings report, Xencor announced financial results for the fourth quarter and full year of 2024, alongside updates on its clinical programs and strategic priorities for 2025. The company highlighted its focus on advancing its oncology portfolio and introducing new candidates for autoimmune diseases.
Key financial metrics revealed a total revenue of $52.8 million for Q4 2024, slightly up from $51.0 million in the same period of 2023, driven by milestone revenues from partnerships with Amgen and Novartis. However, the full-year revenue saw a decline to $110.5 million from $174.6 million in 2023. Research and development expenses decreased to $227.7 million for 2024, reflecting a strategic shift in the pipeline, while general and administrative expenses rose to $61.2 million. The net loss for the year widened to $232.6 million, compared to $133.1 million in 2023.
Xencor’s clinical updates included promising developments in its XmAb942 and XmAb819 programs, targeting inflammatory bowel disease and clear cell renal cell carcinoma, respectively. The company also outlined plans to initiate new studies in 2025, including a Phase 1b/2a study for plamotamab in rheumatoid arthritis and a first-in-human study for XmAb657 in autoimmune diseases.
Looking ahead, Xencor remains committed to advancing its pipeline with a focus on achieving clinical milestones and leveraging its XmAb technology. The company expects to end 2025 with substantial cash reserves, supporting its research and development efforts into 2028.
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