Xencor: 3Q Earnings Snapshot
MONROVIA, Calif. (AP) _ Xencor Inc. (XNCR) on Tuesday reported a third-quarter loss of $10.2 million, after reporting a profit in the same period a year earlier.
On a per-share basis, the Monrovia, California-based company said it had a loss of 18 cents.
The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for a loss of 58 cents per share.
The biotech developing antibodies for severe autoimmune/allergic diseases and cancer posted revenue of $21.8 million in the period, also exceeding Street forecasts. Four analysts surveyed by Zacks expected $4.6 million.
Xencor shares have declined almost 9% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $33.04, a drop of 12% in the last 12 months.