Xencor Q3 revenue rises to $21.0 million; net loss narrows to $6.0 million
Xencor reported third quarter 2025 results on November 5, 2025, with revenue of $21.0 million, up from $17.8 million a year earlier, and a net loss of $6.0 million, or $(0.08) per share, compared with a net loss of $46.3 million, or $(0.72) per share, in the third quarter of 2024. The company said it expects to end 2025 with between $570 million and $590 million in cash, cash equivalents and marketable debt securities, and that it has cash to fund operations into 2028. Other income, net of $41.5 million, which was driven mainly by unrealized gains on marketable equity securities, helped narrow the loss.
Key points
- Q3 2025 revenue was $21.0 million, versus $17.8 million in Q3 2024, primarily non-cash royalty revenue from Alexion and Incyte.
- Q3 2025 net loss attributable to Xencor was $6.0 million, or $(0.08) per share, versus $46.3 million, or $(0.72) per share, a year earlier.
- Research and development expenses fell to $54.4 million from $58.2 million, and general and administrative expenses were $14.2 million.
- Cash, cash equivalents and marketable debt securities were $633.9 million as of September 30, 2025; year-end 2025 cash guidance is $570 million to $590 million.
The filing
Written by AI on Nov 8, 2026, 1:49 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on November 05, 2025.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.