Xencor Q1 net loss widens to $128.9 million as revenue falls to $4.5 million
Xencor reported a first-quarter 2026 net loss attributable to the company of $128.9 million, or $(1.71) per share, versus $48.4 million, or $(0.66) per share, a year earlier. Revenue fell to $4.5 million from $32.7 million, and the loss was driven largely by $50.8 million of other expense, mainly unrealized losses on an equity security. For shareholders, the filing shows a much larger loss and a smaller revenue base, with cash, cash equivalents and marketable debt securities down to $541.8 million from $610.8 million at year-end 2025.
Key points
- Q1 2026 revenue was $4.5 million, compared with $32.7 million in Q1 2025, and included a one-time $6.6 million reduction tied to disputed U.S. sales royalties due from Alexion
- R&D expenses rose to $64.7 million from $58.6 million, and G&A expenses were $17.7 million compared with $17.3 million
- Other expense, net was $50.8 million versus $5.1 million, primarily due to unrealized losses on an equity security
- Company expects to end 2026 with $380 million to $400 million in cash, cash equivalents and marketable debt securities, with cash sufficient into mid-2028
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 May 06, 2026.
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.