Xencor reports Q2 EPS (41c) , consensus (71c)

Reports Q2 revenue $43.6M, consensus $22.6M. “Xencor (XNCR) is focused on execution of our clinical studies, evaluating four wholly owned XmAb(R) drug candidates in cancer and advanced autoimmune-driven diseases,” said Bassil Dahiyat, Ph.D., president and chief executive officer at Xencor. “In oncology, these include two T-cell engager (TCE) programs, XmAb819 and XmAb541, which continue to progress through dose-escalation studies. We are on-track to present preliminary safety and efficacy from XmAb819 in advanced clear cell renal cell carcinoma later this year. “In our autoimmune portfolio, we recently initiated the Phase 2b XENITH-UC study of XmAb942, our potential best-in-class antibody targeting TL1A for inflammatory bowel disease, to rapidly identify a pivotal dose regimen for those with moderately to severely active ulcerative colitis. Also, in June we were granted regulatory authorization to proceed with the proof-of-concept study of plamotamab, our CD20 B-cell depleting TCE, in rheumatoid arthritis. For the remainder of the year, we expect to continue our global rollout of the XENITH-UC and plamotamab studies, and we also remain on-track to start a proof-of-concept study of XmAb657, our novel CD19 B-cell depleting TCE for the treatment of patients with autoimmune disease.”