Xencor Inc
For the period ended Dec 31, 2025. Filed Feb 25, 2026.
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FY2025 · Filed Feb 25, 2026
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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Consolidated Statements of Operations and Comprehensive Loss
(in thousands, except per share amounts)
| Year Ended December 31, | |||
|---|---|---|---|
| 2025 | 2024 | 2023 | |
| Revenue | |||
| Collaborations, milestones, and royalties | $125,576 | $110,493 | $174,615 |
| Operating expenses: | |||
| Research and development | 239,434 | 227,686 | 253,598 |
| General and administrative | 63,644 | 61,215 | 53,379 |
| Total operating expenses | 303,078 | 288,901 | 306,977 |
| Operating loss | (177,502) | (178,408) | (132,362) |
| Other income (expense): | |||
| Interest income | 27,524 | 31,930 | 19,331 |
| Interest expense | (31,927) | (36,643) | (6,177) |
| Gain (loss) on marketable equity securities, net | 101,514 | (31,422) | (395) |
| Asset impairment charges | (9,169) | (20,430) | — |
| Other, net | (73) | 50 | (31) |
| Total other income (expense) | 87,869 | (56,515) | 12,728 |
| Loss before income tax expense and noncontrolling interest | (89,633) | (234,923) | (119,634) |
| Income tax expense | 2,504 | 1,617 | 13,662 |
| Net loss including noncontrolling interest | (92,137) | (236,540) | (133,296) |
| Net loss attributable to noncontrolling interest | (214) | (3,922) | (163) |
| Net loss attributable to Xencor, Inc. | $(91,923) | $(232,618) | $(133,133) |
| Net loss per share attributable to Xencor, Inc. (basic and diluted) | $(1.24) | $(3.58) | $(2.20) |
| Weighted-average shares used in calculating net loss per share (basic and diluted) | 74,239 | 65,041 | 60,503 |
| Other comprehensive income (loss), net of tax: | |||
| Net unrealized gain (loss) on marketable debt securities | 2,239 | (1,954) | 8,243 |
| Comprehensive loss | $(89,898) | $(238,494) | $(125,053) |
| Less: comprehensive loss attributable to the noncontrolling interest | (214) | (3,922) | (163) |
| Comprehensive loss attributable to Xencor, Inc. | $(89,684) | $(234,572) | $(124,890) |
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