Xencor(US:XNCR)2024-05-09 20:11Financial Performance - Revenues for Q1 2024 were $12.8 million, a decrease of 32.4% compared to $19.0 million in Q1 2023[7] - Net loss for Q1 2024 was $68.0 million, or $(1.11) per share, compared to a net loss of $60.8 million, or $(1.02) per share, in Q1 2023[11] - Total operating expenses for Q1 2024 were $70.7 million, compared to $79.7 million in Q1 2023, reflecting a decrease of 11.3%[20] Research and Development - Research and development expenses for Q1 2024 were $56.9 million, down 13.2% from $65.6 million in Q1 2023[8] - The first patient was dosed in the Phase 1 study of XmAb541, targeting CLDN6-positive tumors, including advanced ovarian cancer[4] - A single dose of an investigational antibody with Xtend™ showed up to 77% effectiveness in preventing malaria in children[4] Cash and Assets - Cash, cash equivalents, and marketable debt securities totaled $646.7 million as of March 31, 2024, down from $697.4 million on December 31, 2023[6] - Total assets as of March 31, 2024, were $884.3 million, down from $952.7 million on December 31, 2023[18] - Xencor expects to end 2024 with between $475 million and $525 million in cash and equivalents, funding operations into 2027[5] Product Approvals - Ultomiris, incorporating Xencor's Xtend™ technology, was approved in the U.S. for treating adults with NMOSD[4]