Xencor (XNCR) Piper Sandler 36th Annual Healthcare Conference summary

Strategic focus and pipeline expansion

• Expanding XmAb platform into autoimmune diseases, leveraging protein engineering expertise and new target opportunities unveiled in September.

• Advancing long-acting TL1A and TL1A/IL-23 bispecific antibodies, with first-in-clinic status and phase I underway for XmAb942.

• Plamotamab (CD20 x CD3) rights regained, with plans to initiate rheumatoid arthritis trials in the first half of next year.

• XmAb657 (CD19 x CD3) designed for deep B-cell depletion in autoimmune, with first-in-human studies expected in the back half of next year.

• Oncology pipeline includes vudalimab (CTLA-4 x PD-1) with upcoming data in prostate and lung cancer, and XmAb808 (B7-H3 x CD28) advancing after DLTs managed.

Clinical milestones and timelines

• Interim data for TL1A monospecific expected in the first half of 2025; TL1A/IL-23 bispecific to enter clinic in 2026.

• Plamotamab RA trial to start in the first half of next year; XmAb657 first-in-human in the back half of next year.

• Vudalimab prostate and lung cancer data readouts anticipated in the first half of next year.

• XmAb808 safety and activity data expected in the first half of next year to inform further development.

• XmAb819 (ENPP3 x CD3) for kidney cancer showing early responses, with further characterization ongoing.

Partnerships and financial position

• Strong collaborations with Amgen, J&J, Roche, and Astellas; Amgen's xaluritamig (STEAP1 x CD3) entering phase III for prostate cancer.

• Retained mid- to high single-digit royalties and $255 million in milestones from Amgen partnership, with near-term milestone payments expected.

• Pro forma cash of $754 million funds operations well into 2028, supporting multiple clinical readouts and proof-of-concept studies.

• Partnering strategy remains flexible, with decisions based on clinical data and strategic fit.