XNCR on Nasdaq
Xencor Inc
American pharmaceutical preparations company based in Monrovia.
Price unavailable
Last updated Oct 18, 2026.
Overview
Compare with LIFECORE BIOMEDICAL, INC. \DE\, ASCENTAGE PHARMA GROUP INTERNATIONAL or GYRE THERAPEUTICS, INC., or pick any stock.
Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Key numbers, fiscal 2025
-141.4%Operating margin3
-73.2%Net margin3
13.7%Revenue growth, 20253
-14.5%Return on equity3
0.12×Debt to equity3
-$138.3MFree cash flow3
What sells
Revenue by product, business segment and region, as the company reports it to the SEC.
Products and services
Royalty brought in 64% of the revenue Xencor Inc broke down this way in fiscal 2025.
Products and services by year
| Products and services | 2023 | 2024 | 2025 |
|---|---|---|---|
| Royalty | $55.8M | $67.5M | $80.3M |
| Milestone | $88.5M | $34.5M | $45.3M |
Where the money goes
Where each dollar of revenue went, fiscal 2025
- Research and development99¢$239.4M
- Income tax1¢$2.5M
Out of $125.6M in revenue.3 The company lost money this year.
Financial statements
Every line of the income statement as filed: the last 3 fiscal years, latest first.3
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Collaborations, milestones, and royalties | $125.6M | $110.5M | $174.6M |
| Research and development | $239.4M | $227.7M | $253.6M |
| General and administrative | $63.6M | $61.2M | $53.4M |
| Total operating expenses | $303.1M | $288.9M | $307.0M |
| Operating loss | -$177.5M | -$178.4M | -$132.4M |
| Interest income | $27.5M | $31.9M | $19.3M |
| Interest expense | -$31.9M | -$36.6M | -$6.2M |
| Gain (loss) on marketable equity securities, net | $101.5M | -$31.4M | -$395.0K |
| Asset impairment charges | -$9.2M | -$20.4M | $0 |
| Other, net | -$73.0K | $50.0K | -$31.0K |
| Total other income (expense) | $87.9M | -$56.5M | $12.7M |
| Loss before income tax expense and noncontrolling interest | -$89.6M | -$234.9M | -$119.6M |
| Income tax expense | $2.5M | $1.6M | $13.7M |
| Net loss including noncontrolling interest | -$92.1M | -$236.5M | -$133.3M |
| Net loss attributable to noncontrolling interest | -$214.0K | -$3.9M | -$163.0K |
| Net loss attributable to Xencor, Inc. | -$91.9M | -$232.6M | -$133.1M |
| Net loss per share attributable to Xencor, Inc. - basic (in dollars per share) | -$1.24 | -$3.58 | -$2.20 |
| Net loss per share attributable to Xencor, Inc. - diluted (in dollars per share) | -$1.24 | -$3.58 | -$2.20 |
| Weighted-average shares used in calculating net loss per share - basic (in shares) | 74.2M shares | 65.0M shares | 60.5M shares |
| Weighted-average shares used in calculating net loss per share - diluted (in shares) | 74.2M shares | 65.0M shares | 60.5M shares |
| Net unrealized gain (loss) on marketable debt securities | $2.2M | -$2.0M | $8.2M |
| Comprehensive loss | -$89.9M | -$238.5M | -$125.1M |
| Less: comprehensive loss attributable to the noncontrolling interest | -$214.0K | -$3.9M | -$163.0K |
| Comprehensive loss attributable to Xencor, Inc. | -$89.7M | -$234.6M | -$124.9M |
No quarter-by-quarter statement was filed.
Every line of the balance sheet as filed: the last 4 fiscal years (annual) or 4 quarters (quarterly), latest first.3
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Cash and cash equivalents | $54.1M | $40.9M | ||
| Marketable debt securities | $381.2M | $409.0M | ||
| Marketable equity securities | $112.5M | $47.9M | ||
| Accounts receivable | $29.3M | $60.8M | ||
| Prepaid expenses and other current assets | $22.8M | $19.0M | ||
| Total current assets | $599.8M | $577.6M | ||
| Restricted cash | $289.0K | $387.0K | ||
| Marketable debt securities - long term | $175.6M | $256.8M | ||
| Property and equipment, net | $53.3M | $59.8M | ||
| Right-of-use assets | $37.6M | $38.3M | ||
| Patents, licenses, and other intangible assets, net | $8.4M | $18.5M | ||
| Other assets | $498.0K | $498.0K | ||
| Total assets | $875.5M | $951.9M | ||
| Accounts payable | $10.8M | $16.8M | ||
| Accrued expenses | $35.0M | $19.2M | ||
| Income tax payable | $3.6M | $0 | ||
| Lease liabilities | $3.3M | $3.0M | ||
| Liabilities related to the sales of future royalties | $43.3M | $48.4M | ||
| Total current liabilities | $95.9M | $87.4M | ||
| Long-term tax liabilities | $2.8M | $10.0M | ||
| Lease liabilities, net of current portion | $64.7M | $65.3M | ||
| Liabilities related to the sales of future royalties, net of current portion | $76.5M | $115.2M | ||
| Total liabilities | $239.9M | $277.9M | ||
| Common stock, $0.01 par value: Authorized 200,000 shares Issued and outstanding 71,872 and 70,256 shares at December 31, 2025 and 2024, respectively | $718.0K | $703.0K | ||
| Additional paid-in capital | $1.4B | $1.4B | ||
| Accumulated other comprehensive income (loss) | $1.6M | -$663.0K | ||
| Accumulated deficit | -$796.0M | -$704.0M | ||
| Total stockholders equity attributable to Xencor, Inc. | $635.6M | $677.6M | ||
| Noncontrolling interest | $0 | -$3.6M | ||
| Total noncontrolling interest and stockholders equity | $635.6M | $674.0M | $662.1M | $727.5M |
| Total liabilities and stockholders equity | $875.5M | $951.9M | ||
| Common stock, par value (in dollars per share) | $0.01 | $0.01 | ||
| Common stock, shares authorized (in shares) | 200.0M shares | 200.0M shares | ||
| Common stock, shares issued (in shares) | 71.9M shares | 70.3M shares | ||
| Common stock, shares outstanding (in shares) | 71.9M shares | 70.3M shares |
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Cash and cash equivalents | $54.1M | $40.9M | ||
| Marketable debt securities | $381.2M | $409.0M | ||
| Marketable equity securities | $112.5M | $47.9M | ||
| Accounts receivable | $29.3M | $60.8M | ||
| Prepaid expenses and other current assets | $22.8M | $19.0M | ||
| Total current assets | $599.8M | $577.6M | ||
| Restricted cash | $289.0K | $387.0K | ||
| Marketable debt securities - long term | $175.6M | $256.8M | ||
| Property and equipment, net | $53.3M | $59.8M | ||
| Right-of-use assets | $37.6M | $38.3M | ||
| Patents, licenses, and other intangible assets, net | $8.4M | $18.5M | ||
| Other assets | $498.0K | $498.0K | ||
| Total assets | $875.5M | $951.9M | ||
| Accounts payable | $10.8M | $16.8M | ||
| Accrued expenses | $35.0M | $19.2M | ||
| Income tax payable | $3.6M | $0 | ||
| Lease liabilities | $3.3M | $3.0M | ||
| Liabilities related to the sales of future royalties | $43.3M | $48.4M | ||
| Total current liabilities | $95.9M | $87.4M | ||
| Long-term tax liabilities | $2.8M | $10.0M | ||
| Lease liabilities, net of current portion | $64.7M | $65.3M | ||
| Liabilities related to the sales of future royalties, net of current portion | $76.5M | $115.2M | ||
| Total liabilities | $239.9M | $277.9M | ||
| Common stock, $0.01 par value: Authorized 200,000 shares Issued and outstanding 71,872 and 70,256 shares at December 31, 2025 and 2024, respectively | $718.0K | $703.0K | ||
| Additional paid-in capital | $1.4B | $1.4B | ||
| Accumulated other comprehensive income (loss) | $1.6M | -$663.0K | ||
| Accumulated deficit | -$796.0M | -$704.0M | ||
| Total stockholders equity attributable to Xencor, Inc. | $635.6M | $677.6M | ||
| Noncontrolling interest | $0 | -$3.6M | ||
| Total noncontrolling interest and stockholders equity | $635.6M | $674.0M | $662.1M | $727.5M |
| Total liabilities and stockholders equity | $875.5M | $951.9M | ||
| Common stock, par value (in dollars per share) | $0.01 | $0.01 | ||
| Common stock, shares authorized (in shares) | 200.0M shares | 200.0M shares | ||
| Common stock, shares issued (in shares) | 71.9M shares | 70.3M shares | ||
| Common stock, shares outstanding (in shares) | 71.9M shares | 70.3M shares |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow as filed: the last 3 fiscal years, latest first.3
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Net loss including noncontrolling interest | -$92.1M | -$236.5M | -$133.3M |
| Depreciation and amortization | $10.5M | $12.1M | $11.5M |
| Accretion of discount on marketable debt securities, net | -$3.5M | -$16.0M | -$13.6M |
| Stock-based compensation | $43.2M | $53.3M | $53.8M |
| Gain on sale of marketable securities, net | -$14.4M | -$37.0K | $0 |
| Change in fair value of marketable equity securities | -$87.1M | $31.4M | $395.0K |
| Asset impairment charges | $9.2M | $20.4M | $0 |
| Non-cash royalty revenue related to the sale of future royalties | -$80.3M | -$66.9M | -$14.6M |
| Non-cash interest expense on liabilities related to the sale of future royalties | $31.9M | $36.6M | $6.2M |
| Equity received in connection with license agreement | $0 | $0 | -$10.0M |
| Abandonment of capitalized intangibles | $0 | $2.3M | $1.3M |
| Loss on disposal of assets | $0 | $1.6M | $1.4M |
| Accounts receivable | $28.7M | -$32.7M | $19.8M |
| Interest receivable from marketable debt securities | $2.6M | -$3.4M | -$1.0M |
| Prepaid expenses and other assets | $9.4M | $159.0K | $5.1M |
| Accounts payable | -$4.0M | $2.8M | $3.8M |
| Accrued expenses | $13.8M | -$4.3M | $4.8M |
| Income taxes | $3.6M | -$4.5M | $13.6M |
| Operating lease, net | $400.0K | $1.5M | $3.2M |
| Deferred revenue | $0 | $0 | -$30.3M |
| Other assets and liabilities, net | -$7.2M | $0 | $0 |
| Net cash used in operating activities | -$135.1M | -$202.2M | -$77.9M |
| Purchase of marketable debt securities | -$298.9M | -$595.1M | -$782.9M |
| Purchase of property and equipment | -$3.1M | -$6.1M | -$18.4M |
| Purchase of patents | $0 | -$3.4M | -$2.8M |
| Proceeds from sales of marketable equity securities | $36.9M | $6.6M | $0 |
| Proceeds from sales and maturities of marketable debt securities | $405.1M | $590.1M | $693.1M |
| Proceeds from sale of property and equipment | $0 | $0 | $1.0K |
| Net cash provided by (used in) investing activities | $140.0M | -$7.9M | -$111.1M |
| Proceeds from the exercises of stock options | $8.7M | $6.3M | $3.4M |
| Proceeds from issuance of common stock under the Employee Stock Purchase Plan | $1.3M | $1.7M | $2.0M |
| Proceeds from issuance of common stock and pre-funded warrants | $0 | $201.3M | $0 |
| Common stock and pre-funded warrants issuance costs | $0 | -$12.1M | $0 |
| Proceeds from the sale of future royalties | $0 | $0 | $183.3M |
| Proceeds from noncontrolling interest | $0 | $0 | $500.0K |
| Cash paid to acquire noncontrolling interest | -$1.7M | $0 | $0 |
| Net cash provided by financing activities | $8.2M | $197.2M | $189.2M |
| Net increase (decrease) in cash, cash equivalents, and restricted cash | $13.1M | -$12.9M | $228.0K |
| Interest paid | $5.0K | $33.0K | $22.0K |
| Income taxes paid | $7.3M | $6.1M | $0 |
No quarter-by-quarter statement was filed.
Leadership
Who has led Xencor Inc, and when. Pick a name to see everywhere that person has worked.
Chief executive
President
Chief financial officer
201520202025
- Chief executive officerBassil I. Dahiyat Dec 2, 2013 to now11
- PresidentBassil I. Dahiyat Dec 2, 2013 to now11
- Chief financial officerBart Jan Cornelissen Apr 11, 2024 to now12
- Chief financial officerJohn J. Kuch May 21, 2018 to Mar 12, 202413
Board members and other officers (24)
- EVP, Chief Development OfficerNancy Valente May 3, 2023 to now14
- SVP, Chief Medical OfficerAllen Yang Dec 18, 2019 to Mar 13, 202315
- Chief Business OfficerEdgardo Baracchini Jr. Dec 2, 2013 to Aug 13, 201816
- Vice President, FinanceJohn J. Kuch Dec 2, 2013 to Jan 26, 201817
- Vice President, ResearchJohn R. Desjarlais Dec 2, 2013 to now18
- Chief Medical OfficerPaul A. Foster Dec 2, 2013 to Feb 14, 201919
- Board memberTodd E. Simpson Mar 13, 2025 to now20
- Board memberRaymond Joseph Deshaies Jul 31, 2025 to now21
- Board memberBarbara Klencke Sep 19, 2023 to now22
- Board memberNancy Valente Sep 9, 2022 to Sep 9, 202223
- Board memberDagmar Rosa-Bjorkeson Dec 20, 2019 to Oct 1, 202424
- Board memberEllen Feigal Nov 9, 2018 to now25
- Board memberKevin Charles Gorman Apr 17, 2017 to now26
- Board memberRichard J. Ranieri Dec 20, 2017 to now27
- Board memberAlan Bruce Montgomery Mar 20, 2015 to now28
- Board memberYujiro S. Hata Aug 3, 2015 to Jun 27, 202229
- Board memberKurt A. Gustafson Jul 16, 2014 to now30
- Board memberAtul Saran Dec 2, 2013 to Dec 6, 201331
- Board memberBassil I. Dahiyat Dec 2, 2013 to now11
- Board memberBruce L. A. Carter Dec 2, 2013 to Jun 16, 201732
- Board memberHarold R. Werner Dec 2, 2013 to Dec 6, 201333
- Board memberRobert Baltera Jr. Dec 2, 2013 to Jul 8, 201634
- General counselCelia Eckert Sep 6, 2019 to now35
- General counselLloyd A. Rowland Sep 2, 2014 to Jan 28, 201636
Timeline
- Dec 2, 2013New chief executive Bassil I. Dahiyat becomes CEO11
Filings
343 filings to the SEC since October 2021: 6 annual reports, 18 quarterly reports, 56 major events, 132 insider forms, 47 large holders, 1 private raises, 83 other. The latest 20:
- Aug 5, 202610-Q EDGAR
- Aug 5, 20268-K EDGAR
- Jul 31, 2026SCHEDULE 13G EDGAR
- Jul 29, 20268-K EDGAR
- Jul 8, 20264 EDGAR
- Jul 8, 20264 EDGAR
- Jul 8, 20264 EDGAR
- Jul 8, 20264 EDGAR
- Jul 8, 20264 EDGAR
- Jul 8, 20264 EDGAR
- Jul 8, 20264 EDGAR
- Jul 8, 20264 EDGAR
- Jun 22, 20264 EDGAR
- Jun 18, 2026144 EDGAR
- Jun 18, 20268-K EDGAR
- Jun 17, 20264 EDGAR
- Jun 17, 20264 EDGAR
- Jun 17, 20264 EDGAR
- Jun 17, 20264 EDGAR
- Jun 15, 2026144 EDGAR
The 343 filings since October 2021 can be filtered by form type and year here when JavaScript is on.
Every filing from the last three years, summarized. The full record is on SEC EDGAR.
Insider trades and holders
Large holders
Investors who own more than 5% must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively. 47 such filings since October 2021, the latest 10:
- Jul 31, 2026SCHEDULE 13G
- May 15, 2026SCHEDULE 13G/A
- Mar 30, 2026SCHEDULE 13G
- Mar 27, 2026SCHEDULE 13G/A
- Feb 17, 2026SCHEDULE 13G/A
- Feb 17, 2026SCHEDULE 13G/A
- Feb 9, 2026SCHEDULE 13G
- Dec 3, 2025SCHEDULE 13G/A
- Nov 14, 2025SCHEDULE 13G
- Nov 14, 2025SCHEDULE 13G/A
From Forms 4 and Schedules 13D and 13G filed with the SEC.
Money raised
Private offerings the company reported to the SEC on Form D.
- Nov 12, 2021Raised $25 million in a private offering of equity Form D: 1 investor so far Form D
Held by these funds
The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.
| Fund | Shares | Value | Share of the fund | Change |
|---|---|---|---|---|
| BlackRock, Inc. | 13,651,261 | $219.8M | 0.0% | +615,343 |
| Primecap Management Co/ca/ | 10,181,322 | $163.9M | 0.1% | −156,700 |
| Bvf Inc/il | 7,133,720 | $114.9M | 2.9% | No change |
| Rtw Investments, LP | 6,777,461 | $109.1M | 0.9% | No change |
| Ra Capital Management, L.P. | 5,274,274 | $84.9M | 0.7% | +377,037 |
| State Street Corp | 4,954,016 | $79.8M | 0.0% | +601,980 |
| Vanguard Capital Management LLC | 3,278,802 | $52.8M | 0.0% | +177,155 |
| TCG Crossover Management, LLC | 2,452,138 | $39.5M | 0.9% | No change |
| Vanguard Portfolio Management LLC | 2,215,690 | $35.7M | 0.0% | −1,284,652 |
| Geode Capital Management, LLC | 1,920,859 | $30.9M | 0.0% | +105,282 |
| Morgan Stanley | 1,752,556 | $28.2M | 0.0% | +194,266 |
| UBS Group AG | 1,306,174 | $21.0M | 0.0% | +223,755 |
| Baker Bros. Advisors LP | 1,102,106 | $17.7M | 0.1% | No change |
| Legal & General Group Plc | 1,091,177 | $17.6M | 0.0% | +24,397 |
| Dimensional Fund Advisors LP | 1,011,119 | $16.3M | 0.0% | −283,768 |
| Goldman Sachs Group Inc | 968,778 | $15.6M | 0.0% | +204,985 |
| Millennium Management LLC | 853,677 | $13.7M | 0.0% | +243,889 |
| Two Sigma Investments, LP | 819,515 | $13.2M | 0.0% | +14,094 |
| Northern Trust Corp | 794,279 | $12.8M | 0.0% | +49,760 |
| Johnson & Johnson | 748,062 | $12.0M | 1.5% | No change |
| Jefferies Financial Group Inc. | 720,440 | $11.6M | 0.1% | No change |
| Charles Schwab Investment Management Inc | 707,242 | $11.4M | 0.0% | +10,388 |
| Panagora Asset Management Inc | 680,182 | $11.0M | 0.0% | +59,426 |
| Deep Track Capital, LP | 593,551 | $9.6M | 0.1% | New |
| Toronto Dominion Bank | 491,000 | $7.9M | 0.0% | No change |
13F reports cover disclosed long positions in U.S. stocks only.
Sources
The numbers on this page point here. Each one links to the record it came from.
- 1SEC EDGARXencor Inc filings on SEC EDGAR
- 2SEC EDGARXencor Inc filings on SEC EDGAR
- 3SEC EDGARXencor Inc 10-K for fiscal 2025
- 4SEC EDGARXencor Inc 10-K for fiscal 2019
- 5SEC EDGARXencor Inc 10-K for fiscal 2020
- 6SEC EDGARXencor Inc 10-K for fiscal 2021
- 7SEC EDGARXencor Inc 10-K for fiscal 2022
- 8SEC EDGARXencor Inc 10-Q for fiscal 2026
- 9SEC EDGARXencor Inc 10-Q for fiscal 2026
- 10SEC EDGARXencor Inc 10-K for fiscal 2019
- 11
- 12
- 13
- 14
- 15
- 16
- 17
- 18
- 19
- 20SEC EDGARTodd E. Simpson, Board member
- 21
- 22SEC EDGARBarbara Klencke, Board member
- 23SEC EDGARNancy Valente, Board member
- 24SEC EDGARDagmar Rosa-Bjorkeson, Board member
- 25SEC EDGAREllen Feigal, Board member
- 26SEC EDGARKevin Charles Gorman, Board member
- 27SEC EDGARRichard J. Ranieri, Board member
- 28SEC EDGARAlan Bruce Montgomery, Board member
- 29SEC EDGARYujiro S. Hata, Board member
- 30SEC EDGARKurt A. Gustafson, Board member
- 31SEC EDGARAtul Saran, Board member
- 32SEC EDGARBruce L. A. Carter, Board member
- 33SEC EDGARHarold R. Werner, Board member
- 34SEC EDGARRobert Baltera Jr., Board member
- 35SEC EDGARCelia Eckert, General counsel
- 36SEC EDGARLloyd A. Rowland, General counsel