Xencor, Inc. (NASDAQ:XNCR) Q3 2019 Earnings Conference Call - Final Transcript

Nov 05, 2019 • 04:30 pm ET


Xencor, Inc. (NASDAQ:XNCR) Q3 2019 Earnings Conference Call - Final Transcript


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Good afternoon and welcome to the Xencor Third Quarter 2019 Financial Results Conference Call. [Operator Instructions]

At this time, I would like to pass the call to Charles Liles, Associate Director and Head of Corporate Communications and Investor Relations at Xencor. Please proceed.

Charles Liles

Thank you, operator, and good afternoon. Welcome to Xencor's Third Quarter 2019 Financial Results Conference Call. Earlier this afternoon, we issued a press release which outlines the topics we plan to discuss today. The press release is available at www.xencor.com. Today on our call, Bassil Dahiyat, President and Chief Executive Officer, will provide a business overview and review our pipeline and licensing partnerships; and John Kuch, Senior Vice President of Finance and Chief Financial Officer will review the financial results from the third quarter and first nine months of 2019, then we will open up the call for your questions.

Before we begin, I would like to remind you that during the course of this conference call, Xencor management may look -- may make forward-looking statements, including statements regarding the Company's future financial and operating results, future market conditions, the plans and objectives of the management for future operations, the Company's partnering efforts, capital requirements, future product offerings and research and development programs. These forward-looking statements are not historical facts but rather are based on our current expectations and beliefs and are based upon information currently available to us. The outcome of the events described in these forward-looking statements are subject to known and unknown risks, uncertainties and other factors that could cause actual results to differ materially from the results anticipated by these forward-looking statements, including but not limited to those factors contained in the Risk Factors sections of our most recently filed annual report on Form 10-K and quarterly report on Form 10-Q.

With that, let me pass the call over to Bassil.

Bassil I. Dahiyat

Thanks, and thanks everyone for joining us this afternoon. The core of Xencor's approach to creating antibody and cytokine therapeutics is our XmAb engineering platform, by making small changes to an antibody structure specifically in its Fc domain, we can improve its natural functions and performance and create new mechanisms of therapeutic action. The plug and play nature of the suite of XmAb Fc domains that we've created allows us to engineer nearly any antibody to have improved potency, longer half-life or bispecific structure. This flexibility and portability enable us to take multiple shots on goal simultaneously and generate proof of concept data to guide which programs will independently advance or partner or terminate.

Now in the past few years, we focused our R&D efforts on the expansion and use of our bispecific XmAb platform to create new drug candidates that bind two or more different targets simultaneously. Since 2016, we've initiated six phase 1 clinical studies evaluating XmAb bispecific antibodies. Our plug and play approach to engineering enables the rapid design and simplified development of antibodies and other protein structures like cytokines. Bispecifics are very rapidly emerging area of therapeutic development, particularly