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Xencor, Inc. (XNCR) is a leading clinical-stage biopharmaceutical company headquartered in the United States, dedicated to the discovery and development of engineered monoclonal antibody and protein therapeutics. The primary goal of Xencor is to address severe and life-threatening diseases that currently have unmet medical needs, such as autoimmune diseases, asthma, and various forms of cancer.
Xencor leverages its proprietary XmAb® technology platform to enhance the natural immune functions of antibodies while maintaining a high degree of similarity to natural antibodies (over 99.5% identity). This innovative approach allows Xencor to create biotherapeutics that are more potent, safer, and longer-lasting, thereby improving patient outcomes and quality of life.
One of the key strengths of Xencor's XmAb technology is its ability to dramatically augment the immune functions of antibodies. This has resulted in a robust pipeline of product candidates, including eight in human clinical trials. Notable candidates in clinical development include XmAb5871 and XmAb7195, with several others such as XmAb14045 and XmAb662 in the pre-clinical stage. These candidates are being developed both by Xencor and in collaboration with pharmaceutical partners.
Financially, Xencor generates revenue through research and development collaborations and the licensing of its internally developed drug candidates. This collaborative approach not only advances their pipeline but also brings in essential funding to support ongoing and future projects.
Recently, Xencor has made significant strides in expanding its partnerships and advancing its clinical trials. These developments are crucial as they bring the company closer to delivering breakthrough treatments that can transform patient care in various therapeutic areas.
Overall, Xencor, Inc. stands out in the biopharmaceutical industry for its innovative approach to antibody and protein engineering, with a mission to fundamentally improve the treatment of serious diseases and enhance the quality of life for patients around the world.
Xencor (NASDAQ:XNCR) reported Q2 2024 financial results and provided updates on its clinical-stage programs. Key highlights include:
- Cash position of $585.0 million as of June 30, 2024
- Q2 2024 revenues of $17.0 million, down from $45.5 million in Q2 2023
- Net loss of $66.0 million ($1.07 per share) in Q2 2024
- Advancing clinical trials for XmAb819, XmAb808, and XmAb541
- Regained worldwide rights to plamotamab
- Expects to end 2024 with $475-$525 million in cash, funding operations into 2027
The company continues to focus on developing bispecific T-cell engagers and other XmAb candidates, with plans to announce new clinical development candidates in the coming months.
Xencor (NASDAQ: XNCR) announced it will regain exclusive worldwide rights to plamotamab, a CD20 x CD3 bispecific T-cell engager, after Janssen Biotech terminated its rights under their collaboration agreement. Xencor had advanced plamotamab through Phase 1 clinical trials targeting hematologic cancers. Despite Janssen's withdrawal, it retains rights to develop and commercialize other B-cell targeting CD28 bispecific antibodies, JNJ-9401 and JNJ-1493, which are in Phase 1 clinical trials for prostate cancer and B-cell malignancies respectively.
Xencor emphasizes that plamotamab is Phase 2 ready and subcutaneously administered, highlighting its potential to address unmet medical needs. The company remains eligible for milestone payments and royalties from Janssen's ongoing projects and has the option to co-fund development costs for increased royalty benefits.
Xencor, a clinical-stage biopharmaceutical company, reported financial results for the first quarter ended March 31, 2024, focusing on bispecific T cell engagers for cancer treatment. Recent highlights include the advancement of multiple oncology programs, FDA approval of Ultomiris, and positive results in malaria prevention. The company appointed a new CFO and provided financial guidance with a cash balance of $646.7 million as of March 31, 2024. Despite a decrease in revenues and an increased net loss compared to the previous year, Xencor remains well-funded.
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