Genmab to Acquire Xencor for $1.4 Billion

Ticker: XNCR · Form: 8-K · Filed: Sep 9, 2024 · CIK: 1326732

Xencor Inc 8-K Filing Summary
FieldDetail
CompanyXencor Inc (XNCR)
Form Type8-K
Filed DateSep 9, 2024
Risk Levelmedium
Pages2
Reading Time3 min
Key Dollar Amounts$0.01
Sentimentbullish

Sentiment: bullish

Topics: acquisition, biotech, merger

Related Tickers: GMAB

TL;DR

Genmab is buying Xencor for $1.4B cash, deal expected Q4 2024.

AI Summary

Xencor Inc. announced on September 9, 2024, that it has entered into a definitive agreement to be acquired by Genmab A/S for approximately $1.4 billion in cash. The transaction is expected to close in the fourth quarter of 2024, subject to customary closing conditions.

Why It Matters

This acquisition by Genmab signifies a major consolidation in the biotechnology sector, potentially impacting the development and availability of Xencor's novel antibody therapeutics.

Risk Assessment

Risk Level: medium — The acquisition is subject to customary closing conditions, which introduces a degree of uncertainty until the deal is finalized.

Key Numbers

  • $1.4B — Acquisition Price (Total cash consideration for Xencor Inc.)
  • Q4 2024 — Expected Closing (Anticipated timeframe for the acquisition to be completed.)

Key Players & Entities

  • Xencor Inc. (company) — Registrant being acquired
  • Genmab A/S (company) — Acquiring company
  • $1.4 billion (dollar_amount) — Acquisition price
  • September 9, 2024 (date) — Date of report and announcement
  • fourth quarter of 2024 (date) — Expected closing period for the acquisition

FAQ

What is the primary purpose of this 8-K filing?

This 8-K filing announces that Xencor Inc. has entered into a definitive agreement to be acquired by Genmab A/S for approximately $1.4 billion in cash.

Who is acquiring Xencor Inc. and for how much?

Genmab A/S is acquiring Xencor Inc. for approximately $1.4 billion in cash.

When is the acquisition expected to be completed?

The transaction is expected to close in the fourth quarter of 2024.

What are the conditions for the acquisition to close?

The acquisition is subject to customary closing conditions.

What is Xencor Inc.'s primary business?

Xencor Inc. is a biopharmaceutical company focused on discovering and developing engineered antibody therapeutics, as indicated by its SIC code for Pharmaceutical Preparations.

Filing Stats: 705 words · 3 min read · ~2 pages · Grade level 10.2 · Accepted 2024-09-09 09:00:54

Key Financial Figures

  • $0.01 — ich Registered Common Stock, par value $0.01 per share XNCR Nasdaq Global Market I

Filing Documents

01. Regulation FD Disclosure

Item 7.01. Regulation FD Disclosure. On September 9, 2024, Xencor, Inc. (the "Company") posted a presentation on the "Investors" section of the Company's website (www.xencor.com), which includes descriptions of initial data from the ongoing Phase 1 dose-escalation study of XmAb819 (ENPP3 x CD3), descriptions of initial data from the ongoing Phase 1 dose-escalation study of XmAb808 (B7-H3 x CD28), and presentations of new programs to be developed for patients with autoimmune diseases and associated near-term clinical timelines. The information contained in, or that can be accessed through, the Company's website is not a part of this filing. A copy of the presentation is furnished as Exhibit 99.1 to this Current Report on Form 8-K and incorporated herein by reference. The presentation is current as of September 9, 2024 and the Company disclaims any obligation to update this material. The information furnished under this Item 7.01 of this Current Report on Form 8-K, including Exhibit 99.1 hereto, shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.

01. Other Events

Item 8.01. Other Events. On September 9, 2024, , the Company issued a press release announcing clinical progress updates in early-stage oncology programs, XmAb819 (ENPP3 x CD3) and XmAb808 (B7-H3 x CD28), and XmAb drug candidates to be evaluated for the treatment of patients with autoimmune and inflammatory diseases, including plamotamab (CD20 x CD3), XmAb657 (CD19 x CD3), XmAb942 (Xtend TL1A) and the XmAb TL1A x IL-23 program. A copy of the press release is filed as Exhibit 99.2 to this Current Report on Form 8-K and incorporated herein by reference.

01. Financial Statements and Exhibits

Item 9.01. Financial Statements and Exhibits. (d) Exhibits. Exhibit No. Description 99.1 Pres entation dated September 9 , 2024 . 99.2 Press release issued by Xencor, Inc. on September 9 , 2024 . 104 Cover Page Interactive Data File, formatted in Inline Extensible Business Reporting Language (iXBRL). 2

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Date: September 9, 2024 XENCOR, INC. By: /s/ Celia Eckert Celia Eckert General Counsel & Corporate Secretary 3

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