Monrovia's Xencor Reports Increased Losses Due to Investments

Monrovia-based  Xencor, which develops cancer and autoimmune disease drugs, reported a net loss for the fourth quarter of 2022 of $31.5 million, or $0.43 per share, compared to a net loss of $18.2 million, or $0.25 per share, for the same period in 2021. For the full year, Xencor reported a net loss of $98.6 million, or $1.36 per share, compared to a net loss of $59.4 million, or $0.82 per share, for 2021. The company says the increase in net loss was primarily due to its investment in clinical programs. Despite the loss, the company's cash, cash equivalents, and marketable securities totaled $1.4 billion as of December 31, 2022. t.ly/-x5xG

- Brad Haugaard