Xencor, Inc (XNCR) saw its loss narrow to $8.08 million, or $0.20 a share for the quarter ended Sep. 30, 2016. In the previous year period, the company reported a loss of $10.04 million, or $0.25 a share. Revenue during the quarter surged 123.27 percent to $7.82 million from $3.50 million in the previous year period.
Operating loss for the quarter was $9.26 million, compared with an operating loss of $10.31 million in the previous year period.
“During the third quarter, we initiated clinical trials across our internal pipeline of XmAb programs, including Phase 1 studies of subcutaneously administered XmAb5871 and XmAb7195, and a first-in-human Phase 1 study of our lead immuno-oncology bispecific antibody candidate, XmAb14045,” said Bassil Dahiyat, Ph.D., president and chief executive officer of Xencor. “With these milestones complete and a strong cash position, we expect to report data from multiple clinical trials in the year ahead, while also initiating studies of additional bispecific oncology candidates and continuing to explore the breadth of our Fc engineering technology.”
Working capital drops significantly
Xencor, Inc has witnessed a decline in the working capital over the last year. It stood at $0.18 million as at Sep. 30, 2016, down 99.76 percent or $73.12 million from $73.30 million on Sep. 30, 2015. Current ratio was at 1 as on Sep. 30, 2016, down from 2.30 on Sep. 30, 2015. Days sales outstanding went down to 25 days for the quarter compared with 29 days for the same period last year.
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