Xencor Inc
For the period ended Dec 31, 2025. Filed Feb 25, 2026.
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FY2025 · Filed Feb 25, 2026
XNCR$38.13-4.6%Stored close · as of Nov 12, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Statements of Stockholders’ Equity
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| Common Stock · AdditionalPaid-inCapital · AccumulatedOtherComprehensiveIncome (Loss) · AccumulatedDeficit · Non-Controlling Interest · Totals | |||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Shares · Amount | |||||||||||||||
| Balance, December 31, 2022 | 59,998 | $601 | $1,072,132 | $(6,952) | $(338,285) | $— | $727,496 | ||||||||
| Stock-based compensation | — | — | 53,755 | — | — | — | 53,755 | ||||||||
| Exercise of stock options | 344 | 3 | 3,409 | — | — | — | 3,412 | ||||||||
| Issuance of restricted stock units | 558 | 6 | (6) | — | — | — | — | ||||||||
| Issuance of common stock under the Employee Stock Purchase Plan | 98 | 1 | 1,976 | — | — | — | 1,977 | ||||||||
| Contribution from noncontrolling interest owners | — | — | — | — | — | 500 | 500 | ||||||||
| Net unrealized gain on marketable debt securities | — | — | — | 8,243 | — | — | 8,243 | ||||||||
| Net loss | — | — | — | — | (133,133) | (163) | (133,296) | ||||||||
| Balance, December 31, 2023 | 60,998 | $611 | $1,131,266 | $1,291 | $(471,418) | $337 | $662,087 | ||||||||
| Stock-based compensation | — | — | 53,281 | — | — | — | 53,281 | ||||||||
| Exercise of stock options | 459 | 4 | 6,309 | — | — | — | 6,313 | ||||||||
| Issuance of restricted stock units | 609 | 6 | (6) | — | — | — | — | ||||||||
| Issuance of common stock under the Employee Stock Purchase Plan | 96 | 1 | 1,659 | — | — | — | 1,660 | ||||||||
| Issuance of common stock and pre-funded warrants, net of issuance cost | 8,094 | 81 | 189,098 | — | — | — | 189,179 | ||||||||
| Net unrealized loss on marketable debt securities | — | — | — | (1,954) | — | — | (1,954) | ||||||||
| Net loss | — | — | — | — | (232,618) | (3,922) | (236,540) | ||||||||
| Balance, December 31, 2024 | 70,256 | $703 | $1,381,607 | $(663) | $(704,036) | $(3,585) | $674,026 | ||||||||
| Stock-based compensation | — | — | 43,227 | — | — | — | 43,227 | ||||||||
| Exercise of stock options | 645 | 6 | 8,661 | — | — | — | 8,667 | ||||||||
| Issuance of restricted stock units | 844 | 8 | (8) | — | — | — | — | ||||||||
| Issuance of common stock under the Employee Stock Purchase Plan | 127 | 1 | 1,289 | — | — | — | 1,290 | ||||||||
| Net unrealized gain on marketable debt securities | — | — | — | 2,239 | — | — | 2,239 | ||||||||
| Purchase of noncontrolling interest | — | — | (5,524) | — | — | 3,799 | (1,725) | ||||||||
| Net loss | — | — | — | — | (91,923) | (214) | (92,137) | ||||||||
| Balance, December 31, 2025 | 71,872 | $718 | $1,429,252 | $1,576 | $(795,959) | $— | $635,587 | ||||||||
| Year Ended December 31, | |||
|---|---|---|---|
| 2025 | 2024 | 2023 | |
| Cash flows from operating activities | |||
| Net loss including noncontrolling interest | $(92,137) | $(236,540) | $(133,296) |
| Adjustments to reconcile net loss to net cash used in operating activities: | |||
| Depreciation and amortization | 10,512 | 12,107 | 11,498 |
| Accretion of discount on marketable debt securities, net | (3,481) | (16,044) | (13,635) |
| Stock-based compensation | 43,227 | 53,281 | 53,755 |
| Gain on sale of marketable securities, net | (14,388) | (37) | — |
| Change in fair value of marketable equity securities | (87,126) | 31,422 | 395 |
| Asset impairment charges | 9,169 | 20,430 | — |
| Non-cash royalty revenue related to the sale of future royalties | (80,266) | (66,906) | (14,575) |
| Non-cash interest expense on liabilities related to the sale of future royalties | 31,921 | 36,593 | 6,153 |
| Equity received in connection with license agreement | — | — | (10,000) |
| Abandonment of capitalized intangibles | — | 2,329 | 1,267 |
| Loss on disposal of assets | — | 1,577 | 1,379 |
| Changes in operating assets and liabilities: | |||
| Accounts receivable | 28,734 | (32,673) | 19,833 |
| Interest receivable from marketable debt securities | 2,622 | (3,441) | (1,028) |
| Prepaid expenses and other assets | 9,441 | 159 | 5,103 |
| Accounts payable | (3,953) | 2,845 | 3,826 |
| Accrued expenses | 13,796 | (4,347) | 4,836 |
| Income taxes | 3,589 | (4,484) | 13,633 |
| Operating lease, net | 400 | 1,541 | 3,250 |
| Deferred revenue | — | — | (30,320) |
| Other assets and liabilities, net | (7,177) | — | — |
| Net cash used in operating activities | (135,117) | (202,188) | (77,926) |
| Cash flows from investing activities | |||
| Purchase of marketable debt securities | (298,895) | (595,054) | (782,905) |
| Purchase of property and equipment | (3,150) | (6,097) | (18,448) |
| Purchase of patents | — | (3,415) | (2,803) |
| Proceeds from sales of marketable equity securities | 36,941 | 6,640 | — |
| Proceeds from sales and maturities of marketable debt securities | 405,089 | 590,054 | 693,090 |
| Proceeds from sale of property and equipment | — | — | 1 |
| Net cash provided by (used in) investing activities | 139,985 | (7,872) | (111,065) |
| Cash flows from financing activities | |||
| Proceeds from the exercises of stock options | 8,667 | 6,313 | 3,412 |
| Proceeds from issuance of common stock under the Employee Stock Purchase Plan | 1,290 | 1,660 | 1,977 |
| Proceeds from issuance of common stock and pre-funded warrants | — | 201,256 | — |
| Common stock and pre-funded warrants issuance costs | — | (12,077) | — |
| Proceeds from the sale of future royalties | — | — | 183,330 |
| Proceeds from noncontrolling interest | — | — | 500 |
| Cash paid to acquire noncontrolling interest | (1,725) | — | — |
| Net cash provided by financing activities | 8,232 | 197,152 | 189,219 |
| Net increase (decrease) in cash, cash equivalents, and restricted cash | 13,100 | (12,908) | 228 |
| Cash, cash equivalents, and restricted cash, beginning of period | 41,262 | 54,170 | 53,942 |
| Cash, cash equivalents, and restricted cash, end of period | $54,362 | $41,262 | $54,170 |
| Year Ended December 31, | |||
|---|---|---|---|
| 2025 | 2024 | 2023 | |
| Supplemental disclosure of cash flow information | |||
| Interest paid | $5 | $33 | $22 |
| Income taxes paid | $7,312 | $6,100 | $— |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.