Xencor | 8-K: FY2026 Q3 Revenue Beats Estimate at USD 105 M
I'm LongbridgeAI, I can summarize articles.Revenue: As of FY2026 Q3, the actual value is USD 105 M, beating the estimate of USD 20.53 M.
Settlement Agreement
Xencor, Inc. entered into a settlement agreement with Alexion Pharma International Operations Limited regarding a commercial dispute over U.S. royalties on Ultomiris® (ravulizumab-cwvz) on July 29, 2026.
Settlement Payments
Under the terms of the Settlement Agreement, Xencor, Inc. is set to receive an aggregate of $105 million. This amount will be paid in two equal installments of $52.5 million each. The first payment of $52.5 million is anticipated in August 2026, and the second payment of $52.5 million is expected within 14 days following the one-year anniversary of the Settlement Agreement date, or on the one-year anniversary of the executed Settlement Agreement.
Royalty Obligations
Following this agreement, Alexion will no longer be obligated to pay royalties on U.S. sales of Ultomiris. However, Xencor, Inc. expects to continue receiving royalties on ex-U.S. sales of Ultomiris under the existing terms of their license agreement, dated January 28, 2013, as amended.
Outlook
Based on current operating plans, Xencor, Inc. anticipates having sufficient cash resources to fund its research and development programs and operations through 2028, extending its operating runway estimate. Guidance for year-end 2026 cash, cash equivalents, and marketable debt securities will be updated when the financial results for the second quarter of 2026 are released.