On July 29, 2026 Xencor, Inc. (NASDAQ:XNCR) ("Xencor"), a clinical-stage biopharmaceutical company developing engineered antibodies for the treatment of cancer and autoimmune diseases, reported its agreement with Alexion Pharma International Operations Limited, an Irish limited company ("Alexion"), to resolve a commercial dispute related to U.S. royalties on Ultomiris (ravulizumab-cwvz) (the "Settlement Agreement").

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Under the Settlement Agreement, Xencor will receive $105 million in two equal payments, the first $52.5 million payment is anticipated in August 2026 and the second $52.5 million payment on the one-year anniversary of the executed Settlement Agreement, and Alexion will have no further obligation to pay royalties on U.S. sales of Ultomiris. Xencor expects to continue receiving royalties on ex-U.S. sales of Ultomiris under the existing terms of their license agreement.

"We are pleased to have reached a resolution that provides immediate capital and reflects the value of the U.S. royalty stream that we had previously expected through 2028," said Bassil Dahiyat, Ph.D., president and chief executive officer of Xencor. "We have returned our operating runway estimate to extend through 2028."

As previously disclosed, in March 2026, Alexion informed Xencor of its position that no additional royalties were owed on U.S. sales of Ultomiris and that it did not intend to make future payments related to U.S. sales. The Settlement Agreement fully resolves the dispute.

Ultomiris is a drug being developed and commercialized by Alexion Pharmaceuticals, Inc., and is its registered trademark.

Financial Guidance: Based on current operating plans, Xencor expects to have sufficient cash resources to fund research and development programs and operations through 2028. Guidance for year-end 2026 cash, cash equivalents and marketable debt securities will be updated with financial results for the second quarter of 2026.

(Press release, Xencor, JUL 29, 2026, View Source [SID1234669510])