Core Points - The webcast is focused on the initial Phase I dose escalation results for Xencor's XmAb819 [1] Group 1 - The conference is hosted by Megan, the conference operator, who introduces the event [1] - Charles Liles, Senior Director of Corporate Communications and Investor Relations, is set to take over the call [1]

Initial Results from Ongoing Dose -Escalation Study of XmAb819 & Oncology Pipeline Update October 24, 2025 ® Today's Speakers Xencor Management Guest Speaker Bassil Dahiyat, Ph.D. President & Chief Executive Officer Co-director, Kidney Cancer Program City of Hope Comprehensive Cancer Center 2 John Desjarlais, Ph.D. Executive Vice President & Chief Scientific Officer Dane Leone Executive Vice President & Chief Strategy Officer Sumanta Pal, M.D., F.A.S.C.O. Professor, Department of Medical Oncology & Therapeu ...

Core Insights - Xencor, Inc. announced initial results from a Phase 1 dose-escalation study of XmAb819, a bispecific antibody targeting ENPP3 and CD3, for treating advanced clear cell renal cell carcinoma (ccRCC) [1] Company Overview - Xencor, Inc. is a clinical-stage biopharmaceutical company focused on developing engineered antibodies for cancer and autoimmune diseases [1] Study Details - The results of the ongoing Phase 1 study were presented at the AACR-NCI-EORTC Conference on Molecular Targets and Cancer Therapeutics [1]

Core Insights - Xencor, Inc. is a clinical-stage biopharmaceutical company focused on developing engineered antibodies for cancer and autoimmune diseases [1] - The company will host a conference call and webcast on October 24 to discuss initial results from a Phase 1 dose-escalation study of XmAb819 [1] - XmAb819 is a bispecific antibody targeting ENPP3 and CD3, specifically developed for patients with advanced clear cell renal cell carcinoma [1] Company Overview - Xencor, Inc. is listed on NASDAQ under the ticker XNCR [1] - The company specializes in engineered antibodies, indicating a focus on innovative therapeutic approaches in the biopharmaceutical sector [1] Upcoming Events - The conference call and webcast are scheduled for October 24 at 1:30 p.m. ET (10:30 a.m. PT) [1] - This event will provide insights into the ongoing clinical study and its implications for the treatment of advanced clear cell renal cell carcinoma [1]

Core Insights - Xencor, Inc. is a clinical-stage biopharmaceutical company focused on developing engineered antibodies for cancer and autoimmune diseases [1] - The company announced the upcoming presentation of initial results from a Phase 1 dose-escalation study of XmAb819, a bispecific antibody targeting ENPP3 and CD3, specifically in patients with clear cell renal cell carcinoma (ccRCC) [1] Company Overview - Xencor, Inc. is listed on NASDAQ under the ticker XNCR [1] - The company specializes in engineered antibodies, which are designed to treat various medical conditions, including cancer and autoimmune diseases [1] Study Details - The Phase 1 dose-escalation study focuses on XmAb819, which is a bispecific T-cell engaging antibody [1] - Initial results from this study will be presented at the AACR-NCI-EORTC Conference on Molecular Targets [1]

Core Viewpoint - Barclays has initiated coverage of Xencor Inc. with an Underweight rating and a price target of $6.00, reflecting concerns over the company's internal pipeline despite its history of innovation in antibody technology and successful partnerships [1][2] Company Overview - Xencor Inc. is recognized for its innovative contributions to antibody technology and has established royalty-generating partnerships with companies like AstraZeneca and Incyte, which have provided a steady revenue stream and a robust balance sheet [1] Pipeline and Future Prospects - Analysts have expressed disappointment regarding Xencor's internal pipeline, indicating it has not produced sufficient valuation upside beyond its existing royalty base [2] - The company is expected to release early dose-escalation data for its lead oncology program, XmAb819, later this year, but these results are anticipated to be too preliminary to significantly impact the stock [2]

Summary of Zencore Conference Call Company Overview - **Company**: Zencore - **Event**: Cantor Global Healthcare Conference - **Date**: September 04, 2025 Key Points Current State and Strategy - Zencore is focused on developing drugs for severe diseases using its XmAb Protein Engineering Platform, targeting unmet needs in both oncology and autoimmune diseases [3][4] - The company is advancing into immunology indications, building on its core oncology expertise [2][3] Bispecific T Cell Engager Program - The XmAb819 bispecific T cell engager targets ENPP3, a protein expressed in renal cell carcinoma (RCC) and other solid tumors [6][10] - Initial data from the dose escalation phase is expected to be presented at the AACR NCI EORTC meeting in October 2025 [10][18] - The program aims to provide a differentiated treatment option in a complex therapeutic landscape for RCC, where existing therapies have limitations [13][14] Clinical Landscape for RCC - Current first-line treatments for advanced clear cell RCC include PD-1 inhibitors and VEGF TKIs, with a lack of effective options for patients who progress beyond second-line therapy [13][14] - Belzutafan, a recently approved therapy, has shown a 25% response rate in heavily pretreated patients, indicating a need for more effective treatments [15][16] TL1A Asset Development - Zencore is developing TL1A as a potential best-in-class molecule for inflammatory bowel disease (IBD) and other indications [22][23] - The company is initiating a Phase 2b study in ulcerative colitis, with plans to explore additional indications like Crohn's disease [24][28] - The TL1A program is positioned to capitalize on the limitations of existing therapies, aiming for improved efficacy and patient outcomes [27][28] Bispecific Antibody Approach - Zencore is exploring bispecific antibodies targeting TL1A and IL-23, with potential applications in IBD and other autoimmune diseases [29][30] - The bispecific approach is expected to offer a safer profile and improved dosing flexibility compared to existing therapies [29][34] Future Outlook - Zencore plans to continue leveraging its engineering tools to develop novel drug candidates while focusing on clinical data generation [51][52] - The company is optimistic about the potential of its current pipeline, particularly in the context of unmet medical needs in oncology and autoimmune diseases [18][52] Additional Insights - The company acknowledges the challenges in modeling drug exposure in the gut for IBD therapies, emphasizing the need for high drug exposure to achieve desired clinical outcomes [39][42] - Zencore is committed to exploring the therapeutic potential of B cell depletion in autoimmune diseases, drawing parallels with successful oncology therapies [45][48] Conclusion - Zencore is strategically positioned to advance its innovative therapies in oncology and immunology, with a strong focus on addressing unmet medical needs through its proprietary engineering platform and clinical development programs [51][52]

Financial Data and Key Metrics Changes - The company is at a clinical inflection point with a focus on oncology and autoimmune disease programs, indicating a strategic reset and a shift towards higher probability success programs [4][5] - The Phase 2b study for the monospecific TL1a program in ulcerative colitis has commenced, with expectations for significant data generation in the coming years [6][7] Business Line Data and Key Metrics Changes - The company has three therapeutic verticals: oncology, autoimmune diseases, and a focus on protein engineering to enhance drug modalities [6][7] - XmAb942, targeting TL1a, has shown a greater than seventy-one day half-life, allowing for a Q12 week dosing schedule, which is a significant improvement over first-generation drugs [12][18] Market Data and Key Metrics Changes - The company is targeting advanced clear cell renal cell carcinoma with XmAb819, which has a high unmet need for innovative treatments [36][40] - The competitive landscape includes other companies developing TL1a and IL-23 inhibitors, with the company aiming to differentiate its products through superior potency and dosing schedules [13][21] Company Strategy and Development Direction - The company aims to leverage its protein engineering platform to create differentiated therapies that maximize patient benefits and advance the standard of care [6][7] - A strategic reset in September 2024 has set the stage for clinical data generation and regulatory approvals, with a focus on bringing the story together for investors [46][47] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the clinical development pipeline and the potential for differentiated clinical profiles that could lead to successful commercialization [19][41] - The company is focused on efficient study designs to expedite the transition to pivotal studies and commercialization [19][33] Other Important Information - The company has initiated multiple clinical studies, including the bispecific TL1A and IL-23 program, with first-in-human studies expected in 2026 [22][24] - The company is also ramping up studies for plamotamab and XmAb657, with regulatory authorizations in progress [26][27] Q&A Session Summary Question: Can you discuss the rationale for targeting ENPP3 in CCRC patients? - The company chose ENPP3 based on internal data and third-party validation, allowing for a faster study design without preselecting patients [36][38] Question: What are the advantages of the bispecific design over combining an anti-TL1A with an IL-23? - The bispecific design allows for a synergistic effect between TL1A and IL-23, potentially leading to better clinical outcomes with a single drug delivery [21][22] Question: What is the expected timeline for initial data readout for plamotamab? - Initial data is expected towards the end of this year or early next year as the study ramps up [33] Question: How does the company plan to differentiate XmAb541 from other therapies? - The company aims to achieve a favorable safety profile and effective dosing regimen to differentiate XmAb541 from existing therapies targeting CLDN6 [44][45]