Xencor delivered a substantial revenue and earnings beat for the third quarter 2026, primarily driven by a $25.0 million milestone from Astellas and robust royalty streams from Alexion and Incyte. The company reported a net income of $39.4 million, a sharp reversal from the prior year's loss, while expanding its cash runway into 2029.
Key Highlights
- XmAb819 demonstrated a 45.5% confirmed objective response rate in advanced clear cell renal cell carcinoma, supporting plans for a Phase 3 study by late 2027.
- Cash and marketable debt securities reached $555.7 million as of quarter-end, bolstered by a $52.5 million settlement payment from Alexion.
- Partnership momentum accelerated with Astellas dosing the first patient in a Phase 3 trial for ASP2138 and Zenas accepting a BLA for obexelimab.