Xencor expects cash to fund operations into mid-2028

Xenco announced that Alexion Pharmaceuticals informed Xencor (XNCR) that it has taken the position that the Licensee does not owe any additional royalties for sales of Ultomiris in the United States and that the Licensee does not intend to make any future payments for sales in the United States. Based on current operating plans, Xencor expects to end 2026 with between $380 million and $400 million in cash, cash equivalents and marketable debt securities, and to have sufficient cash resources to fund research and development programs and operations into mid-2028. “Xencor has reasonably assumed that the multiple licensees of our XmAb Fc domains and technologies remit payments in accordance with the terms of their respective agreements. One licensee has expressed disagreement regarding payments for net sales of Ultomiris in the United States, and we plan to work toward a resolution in this matter. Importantly, we have not observed a change in payments related to ex-U.S. sales,” said Bassil Dahiyat, Ph.D., president and chief executive officer of Xencor. “We have updated our year-end cash guidance and conservatively adjust our operating runway estimate into mid-2028.”