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Dramatic Drop in Revenue for Monrovia's Xencor


Monrovia's Xencor reports disappointing third-quarter financial results.

The company says: "Revenues for the third quarter ended September 30, 2014 were $0.8 million, compared to $3.2 million in the same period of 2013. Revenues for the nine month period ended September 30, 2014 were $3.9 million, compared to $8.4 million for the same period in 2013."

It says it "expects to have sufficient cash to fund research and development programs and operations through 2016."

Xencor is a clinical-stage biopharmaceutical company developing engineered monoclonal antibodies for the treatment of autoimmune diseases, asthma and allergic diseases, and cancer.

- Brad Haugaard

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