Xencor Inc
For the period ended Dec 31, 2023. Filed Feb 29, 2024.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2023 · Filed Feb 29, 2024
XNCR$39.39+2.1%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 8. Consolidated Statements of Cash Flows
(in thousands)
| Year ended December 31, | |||
|---|---|---|---|
| 2023 | 2022 | 2021 | |
| Cash flows from operating activities | |||
| Consolidated net income (loss) | $(126,250) | $(55,181) | $82,631 |
| Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: | |||
| Depreciation and amortization | 11,498 | 8,799 | 7,491 |
| Amortization of premium (accretion of discount) on marketable securities | (13,635) | 127 | 3,160 |
| Stock-based compensation | 53,755 | 48,913 | 36,975 |
| Abandonment of capitalized intangible assets | 1,267 | 1,510 | 934 |
| Loss on disposal of assets | 1,379 | 145 | 462 |
| Equity received in connection with license agreement | (10,000) | (5,397) | (22,379) |
| Equity received in connection with sale of financial assets | — | — | (3,300) |
| Change in fair value of equity securities | 395 | (23,434) | (20,988) |
| Equity securities impairment | — | 138 | 762 |
| Noncash interest expense | 681 | — | — |
| Changes in operating assets and liabilities: | |||
| Accounts receivable and contract assets | 17,707 | 37,387 | (42,441) |
| Interest receivable from marketable debt securities | (1,028) | (530) | 655 |
| Prepaid expenses and other assets | 5,103 | 634 | (13,592) |
| Income tax | 5,782 | — | — |
| Accounts payable | 3,826 | (3,913) | 5,047 |
| Accrued expenses | 4,836 | (715) | 1,840 |
| Lease liabilities and ROU assets | 3,250 | 22,976 | 1,211 |
| Deferred revenue | (30,320) | (6,974) | (55,321) |
| Deferred income | 156,865 | — | — |
| Net cash provided by (used in) operating activities | 85,111 | 24,485 | (16,853) |
| Cash flows from investing activities | |||
| Proceeds from sale and maturities of marketable debt securities available-for-sale | 693,090 | 306,607 | 485,152 |
| Proceeds from sale of property and equipment | 1 | — | 19 |
| Purchase of marketable securities | (782,905) | (387,928) | (509,597) |
| Purchase of intangible assets | (2,803) | (4,910) | (2,682) |
| Purchase of property and equipment | (18,448) | (38,494) | (13,299) |
| Conversion (purchase) of convertible note | — | 5,000 | (5,000) |
| Exercise of stock options | — | — | (842) |
| Net cash used in investing activities | (111,065) | (119,725) | (46,249) |
| Cash flows from financing activities | |||
| Proceeds from issuance of common stock upon exercise of stock awards | 3,412 | 3,610 | 12,281 |
| Proceeds from issuance of common stock from Employee Stock Purchase Plan | 1,977 | 2,092 | 1,837 |
| Proceeds from issuance of common stock | — | — | 28,920 |
| Proceeds from sale of future royalties | 20,293 | — | — |
| Proceeds from non-controlling interest | 500 | — | — |
| Net cash provided by financing activities | 26,182 | 5,702 | 43,038 |
| Net increase (decrease) in cash, cash equivalents, and restricted cash | 228 | (89,538) | (20,064) |
| Cash, cash equivalents, and restricted cash, beginning of year | 53,942 | 143,480 | 163,544 |
| Cash, cash equivalents, and restricted cash, end of year | $54,170 | $53,942 | $143,480 |
| Supplemental disclosures of cash flow information | |||
| Cash paid for: | |||
| Interest | $22 | $13 | $14 |
| Taxes | — | 700 | — |
| Supplemental schedule of noncash activities | |||
| Net unrealized gain (loss) on marketable securities available-for-sale | $8,243 | $(5,442) | $(1,584) |
| Addition of right-of-use asset | 2,462 | $6,155 | $24,047 |
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