Every material Form 8-K Xencor filed with the SEC in 2026, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
Xencor reported third-quarter 2026 results, with revenue of $116.5 million, up from $21.0 million a year earlier, and net income attributable to Xencor of $39.4 million, or $0.50 per diluted share, compared with a net loss of $6.0 million a year earlier. Revenue came mainly from Alexion and Incyte royalties and a milestone from Astellas, while research and development spending rose, so shareholders should weigh the one-time items behind the profit against higher ongoing development costs.
Q3 revenue was $116.5 million versus $21.0 million in Q3 2025, driven mainly by royalties from Alexion and Incyte and a milestone from Astellas.
Q3 net income attributable to Xencor was $39.4 million, or $0.50 per diluted share, versus a net loss of $6.0 million, or $(0.08) per diluted share, a year earlier.
R&D expenses rose to $84.3 million from $54.4 million, and G&A fell to $9.4 million from $14.2 million, which the company attributed to a non-recurring recovery of legal expenses.
Cash, cash equivalents and marketable debt securities were $555.7 million at September 30, 2026, and Xencor expects to end 2026 with $480 million to $500 million.
Xencor said its current operating plans give it cash to fund research, development and operations into 2029. The company also released updated Phase 1 results for XmAb819 in advanced clear cell renal cell carcinoma, reporting confirmed objective response rates of 30.0% to 45.5% across three dose levels. The data are early and come from small groups, and the filing reports high rates of grade 3 or higher adverse events.
Cash expected to fund R&D and operations into 2029, based on current operating plans.
Confirmed objective response rate: 30.0% at 100 μg/kg (n=30), 44.0% at 200 μg/kg (n=25), 45.5% at 400 μg/kg (n=11).
Grade 3 or higher treatment-emergent adverse events occurred in 82.4% of expansion-dose patients (n=68); one treatment discontinuation due to cytokine release syndrome was reported.
Full 400 μg/kg analysis expected during 1H 2027 (20+ patients); a potential registration-enabling study is planned to start in 2027.
Xencor reported second-quarter 2026 revenue of $51.2 million, up from $43.6 million a year earlier, and a net loss of $21.7 million, or $(0.29) per share, versus a $30.8 million loss, or $(0.41) per share, in the same period of 2025. The quarter included $27.6 million of royalty revenue from a settlement with Alexion, and the company expects to end 2026 with $420 million to $440 million in cash and marketable debt securities, down from $610.8 million at December 31, 2025.
Q2 2026 revenue was $51.2 million versus $43.6 million in Q2 2025; it included $27.6 million of Alexion settlement royalty revenue.
Net loss attributable to Xencor was $21.7 million, or $(0.29) per share, versus $30.8 million, or $(0.41) per share, a year earlier.
Research and development expenses rose to $71.9 million from $61.7 million, while other income, net, was $15.1 million, largely from unrealized gains on an equity security.
Cash, cash equivalents and marketable debt securities were $486.4 million at June 30, 2026; year-end 2026 guidance is $420 million to $440 million.
Xencor entered a settlement agreement with Alexion that resolves a dispute over U.S. royalties on Ultomiris, with Xencor to receive $105 million in two equal payments. Alexion will have no further obligation to pay royalties on U.S. sales, while ex-U.S. royalties are unchanged. Xencor said that, based on current operating plans, it expects cash to fund research and development programs and operations through 2028.
Total payment of $105 million, in two $52.5 million installments
First $52.5 million payment anticipated in August 2026; second payment due within 14 days after the one-year anniversary of the agreement
Alexion has no further obligation to pay royalties on U.S. sales of Ultomiris; ex-U.S. royalties are unchanged
Cash runway expected through 2028; year-end 2026 cash guidance to be updated with second-quarter 2026 results
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.
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
Xencor adopted an Executive Severance Policy on April 23, 2026, covering its named executive officers other than the CEO. The policy sets lump-sum and health coverage benefits on termination without cause or resignation for good reason, with larger benefits if the termination occurs during a change in control period.
Policy adopted April 23, 2026; filed as Exhibit 10.1.
Non-change-in-control severance: lump sum of 15 months of base salary plus up to 15 months of COBRA premiums, subject to a general release.
Change-in-control period (three months before to 12 months after a change in control): adds 15 months of target bonus, a prorated annual bonus, and accelerated vesting of outstanding equity awards.
NEOs must sign and return a participation agreement to be eligible.
Xencor reported fourth quarter and full year 2025 results on February 25, 2026. Full year revenue rose to $125.6 million from $110.5 million, but fourth quarter revenue fell to $28.2 million from $52.8 million, and the fourth quarter operating loss widened to $53.6 million from $13.2 million. Net losses narrowed, driven mainly by other income, net, which included gains from marketable equity securities.
Q4 2025 revenue was $28.2 million vs. $52.8 million in Q4 2024; full year 2025 revenue was $125.6 million vs. $110.5 million.
Q4 2025 net loss attributable to Xencor was $6.7 million, or $(0.09) per share, vs. $45.6 million, or $(0.62), a year earlier.
Full year 2025 net loss attributable to Xencor was $91.9 million, or $(1.24) per share, vs. $232.6 million, or $(3.58), in 2024.
Xencor expects to end 2026 with $400 million to $430 million in cash, cash equivalents and marketable debt securities, versus $610.8 million at December 31, 2025.
Xencor preliminarily estimates cash, cash equivalents and marketable debt securities of approximately $611 million as of December 31, 2025, down from $706.7 million a year earlier. The company says it expects cash to fund research and development programs and operations through 2028, but the figures are unaudited and may change after year-end closing and audit procedures.
Preliminary cash, cash equivalents and marketable debt securities: approximately $611 million as of December 31, 2025, versus $706.7 million as of December 31, 2024
Company expects cash to fund research and development and operations through 2028, based on current operating plans
Figures are unaudited and not reviewed by the independent auditor; actual results may differ
Press release also outlines 2026 milestones, including a Phase 1 study start for XmAb412 in 2H26 and clinical data updates across several programs
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.
Only material 8-Ks get a brief: results, deals, executive changes, restructuring, impairments, delisting notices, restatements, cybersecurity incidents and other disclosed events. Routine filings (vote results, exhibits only) are skipped. Every Xencor filing is on SEC EDGAR ↗. 8-K briefs of other companies →