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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
Xencor
Xencor (XNCR) investor relations material
Xencor Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2026 earnings summary4 Nov, 2026
Executive summary
Q3 revenue was $116.5M and net income was $39.4M, with diluted EPS of $0.50; results included $77.4M of one-time Alexion settlement revenue recognized as royalties.
Pipeline advanced: XmAb819 dose selection supported proposed Phase 3 planning, XmAb412 began enrolling in Phase 1, and a XmAb541/XmAb808 combination trial was initiated.
Financial highlights
Q3 revenue was $116.5M vs. $21.0M a year earlier, including $87.5M of royalties and $29.0M of milestones; 9M revenue was $172.3M vs. $97.3M.
Q3 operating income was $22.9M vs. a $47.5M loss; net income was $39.4M vs. a $6.0M loss, with diluted EPS of $0.50 vs. $(0.08).
9M operating loss was $92.1M vs. $123.9M; net loss was $111.2M vs. $85.3M.
Q3 R&D expense rose to $84.3M from $54.4M, partly offset by lower stock compensation; G&A fell to $9.4M from $14.2M, primarily from a non-recurring legal expense recovery.
Q3 other income, net, was $16.4M vs. $41.5M, primarily reflecting lower unrealized equity-security gains; 9M R&D was $220.9M vs. $174.6M and G&A was $43.5M vs. $46.6M.
Outlook and guidance
Year-end 2026 cash, cash equivalents and marketable debt securities are expected at $480M–$500M; current resources are expected to support operations into 2029, subject to assumptions and potential milestone payments.
XmAb819 FDA engagement on a potential accelerated pathway is planned for 1H27; subject to feedback, a global randomized Phase 3 study may begin by year-end 2027.
XmAb942 blinded interim analysis is expected around year-end 2026, with its Phase 2b primary endpoint analysis targeted for 2H27.
Initial XmAb412 data and additional XmAb819 IV and subcutaneous cohort results are planned for 1H27.
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Latest events from Xencor
- XmAb819’s 400 µg/kg dose showed 45.5% ORR and 82% 6-month PFS.XNCR
Study update - Lead XmAb®-engineered antibodies advance toward pivotal studies in oncology and immunology.XNCRCorporate presentation
- Late-stage T-cell engager and immunology programs advance, with pivotal data expected soon.XNCR12th Annual Cantor Fitzgerald Global Healthcare Conference
- Q2 2026 revenue rose on settlements and milestones; Alexion dispute resolved with $105M payment.XNCRQ2 2026
- Key clinical updates on bispecific and TL1A programs signal major advances in immunology and oncology.XNCRCantor Global Healthcare Conference 2025
- Lead clinical programs show strong efficacy and safety, with pivotal studies planned for 2027.XNCRCorporate presentation
- Accelerating clinical data and innovation in bispecifics drive pipeline and commercial focus.XNCRBank of America Global Healthcare Conference 2026
- XmAb942 and XmAb412 advance as next-gen IBD therapies, with pivotal data expected in 2027.XNCRDigestive Disease Week Conference
- XmAb819 achieved 25% response and 70% disease control in advanced ccRCC with good tolerability.XNCRStudy Result
Next Xencor earnings date
Q4 202626 Feb, 2027
Xencor
Next Xencor earnings date
Q4 202626 Feb, 2027
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Frequently asked questions
Xencor Inc. is a clinical-stage biopharmaceutical company focused on developing engineered monoclonal antibodies and cytokine therapies for the treatment of cancer and autoimmune diseases. The company utilizes its proprietary XmAb technology to create antibody-based therapies that enhance immune responses or modulate immune activity. Xencor's pipeline includes candidates designed to target specific proteins involved in disease processes, aiming to provide more effective and durable treatments. The company is involved in both internal research and collaborations with other biopharma companies to advance its therapies through clinical trials. The company is headquartered in Monrovia, California, and its shares are listed on the NASDAQ.