2024 Q1 Form 10-K Financial Statement

#000132673224000006 Filed on February 29, 2024

View on sec.gov

Income Statement

Concept 2024 Q1 2023 Q4 2023
Revenue $12.80M $44.69M $168.3M
YoY Change -32.63% 106.8% 2.25%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $13.79M $15.27M $53.38M
YoY Change -1.15% 19.77% 12.4%
% of Gross Profit
Research & Development $56.87M $63.05M $253.6M
YoY Change -11.66% 22.53% 27.08%
% of Gross Profit
Depreciation & Amortization $3.035M $3.228M $11.50M
YoY Change 35.19% 49.51% 30.67%
% of Gross Profit
Operating Expenses $70.66M $78.32M $307.0M
YoY Change -9.79% 21.98% 24.26%
Operating Profit -$57.86M -$138.6M
YoY Change -2.54% 68.1%
Interest Expense $5.296M $20.19M $22.53M
YoY Change -88366.67% -33.09% -20.25%
% of Operating Profit
Other Income/Expense, Net -$10.85M $20.18M $18.20M
YoY Change 676.39% 34687.93% -34.92%
Pretax Income -$68.71M -$13.45M -$120.4M
YoY Change 13.08% 7.99% 120.96%
Income Tax $0.00 $5.811M $5.811M
% Of Pretax Income
Net Earnings -$68.03M -$19.10M -$126.1M
YoY Change 11.96% 58.61% 128.5%
Net Earnings / Revenue -531.51% -42.74% -74.92%
Basic Earnings Per Share -$1.11 -$2.08
Diluted Earnings Per Share -$1.11 -$0.31 -$2.08
COMMON SHARES
Basic Shares Outstanding 61.12M shares 60.88M shares 60.50M shares
Diluted Shares Outstanding 61.21M shares 60.50M shares

Balance Sheet

Concept 2024 Q1 2023 Q4 2023
SHORT-TERM ASSETS
Cash & Short-Term Investments $535.9M $593.7M $593.7M
YoY Change -8.86% -4.71% -4.71%
Cash & Equivalents $31.03M $53.79M $53.79M
Short-Term Investments $504.9M $539.9M $539.9M
Other Short-Term Assets $16.74M $18.15M $18.15M
YoY Change -24.25% -22.07% -22.07%
Inventory
Prepaid Expenses
Receivables $9.580M $11.29M $11.29M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $562.3M $623.2M $623.2M
YoY Change -10.75% -7.73% -7.73%
LONG-TERM ASSETS
Property, Plant & Equipment $63.54M $66.12M $100.1M
YoY Change -4.72% 11.73% 6.96%
Goodwill
YoY Change
Intangibles $18.85M $18.66M
YoY Change 3.33% 0.88%
Long-Term Investments $198.5M $209.7M $209.7M
YoY Change 266.21% 260.29% 260.29%
Other Assets $498.0K $648.0K $1.028M
YoY Change -16.86% 5.71% 67.7%
Total Long-Term Assets $322.0M $329.5M $329.5M
YoY Change 85.66% 92.79% 92.79%
TOTAL ASSETS
Total Short-Term Assets $562.3M $623.2M $623.2M
Total Long-Term Assets $322.0M $329.5M $329.5M
Total Assets $884.3M $952.7M $952.7M
YoY Change 10.06% 12.58% 12.58%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $16.01M $13.91M $13.91M
YoY Change 4.37% 37.93% 37.93%
Accrued Expenses $13.49M $23.56M $27.00M
YoY Change -10.89% 25.82% 15.2%
Deferred Revenue $0.00 $0.00
YoY Change -100.0% -100.0%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $7.951M $6.332M $6.332M
YoY Change
Total Short-Term Liabilities $79.40M $84.71M $84.71M
YoY Change 22.05% 32.68% 32.68%
LONG-TERM LIABILITIES
Long-Term Debt $12.49M $14.64M $14.64M
YoY Change
Other Long-Term Liabilities $180.2M $184.2M $184.2M
YoY Change 228.96% 235.37% 235.37%
Total Long-Term Liabilities $12.49M $14.64M $198.9M
YoY Change -77.2% -73.34% 262.03%
TOTAL LIABILITIES
Total Short-Term Liabilities $79.40M $84.71M $84.71M
Total Long-Term Liabilities $12.49M $14.64M $198.9M
Total Liabilities $272.1M $283.6M $283.9M
YoY Change 127.05% 138.75% 139.03%
SHAREHOLDERS EQUITY
Retained Earnings -$532.4M -$464.4M
YoY Change 33.42% 37.27%
Common Stock $617.0K $611.0K
YoY Change 1.98% 1.66%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $612.5M $668.8M $668.8M
YoY Change
Total Liabilities & Shareholders Equity $884.3M $952.7M $952.7M
YoY Change 10.06% 12.58% 12.58%

Cashflow Statement

Concept 2024 Q1 2023 Q4 2023
OPERATING ACTIVITIES
Net Income -$68.03M -$19.10M -$126.1M
YoY Change 11.96% 58.61% 128.5%
Depreciation, Depletion And Amortization $3.035M $3.228M $11.50M
YoY Change 35.19% 49.51% 30.67%
Cash From Operating Activities -$55.26M $181.2M $85.11M
YoY Change 80.5% -841.71% 247.6%
INVESTING ACTIVITIES
Capital Expenditures $132.0K $1.706M $18.45M
YoY Change -98.78% -84.35% -52.08%
Acquisitions
YoY Change
Other Investing Activities $33.38M -$201.4M -$89.81M
YoY Change -43.74% -668.24% 17.68%
Cash From Investing Activities $32.32M -$203.1M -$111.1M
YoY Change -32.87% -927.48% -7.23%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $0.00
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $186.0K 22.98M $26.18M
YoY Change -79.83% 1862.68% 359.17%
NET CHANGE
Cash From Operating Activities -$55.26M 181.2M $85.11M
Cash From Investing Activities $32.32M -203.1M -$111.1M
Cash From Financing Activities $186.0K 22.98M $26.18M
Net Change In Cash -$22.75M 1.059M $228.0K
YoY Change -223.31% -17.78% -100.25%
FREE CASH FLOW
Cash From Operating Activities -$55.26M $181.2M $85.11M
Capital Expenditures $132.0K $1.706M $18.45M
Free Cash Flow -$55.39M $179.5M $66.66M
YoY Change 33.8% -608.07% -575.86%

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<div style="margin-top:12pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Use of Estimates</span></div><div style="margin-top:12pt;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of financial statements in conformity with GAAP requires management to make certain estimates and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses, other comprehensive gain (loss) and the related disclosures. On an ongoing basis, management evaluates its estimates, including estimates related to its accrued clinical trial and manufacturing development expenses, stock-based compensation expense, evaluation of intangible assets, investments, leases and other assets for evidence of impairment, fair value measurements, and contingencies. Significant estimates in these financial statements include estimates made for royalty revenue, accrued research and development expenses, stock-based compensation expenses, intangible assets, incremental borrowing rate for right-of-use asset and lease liability, estimated standalone selling price of performance obligations, estimated time for completing delivery of performance obligations under certain arrangements, the likelihood of recognizing variable consideration, the carrying value of equity instruments without a readily determinable fair value, and recoverability of deferred tax assets.</span></div>
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CY2023 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<div style="margin-top:12pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Concentrations of Risk</span></div><div style="margin-top:12pt;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Cash, cash equivalents, restricted cash, and marketable debt securities are financial instruments that potentially subject the Company to concentrations of risk. We invest our cash in corporate debt securities and U.S. sponsored agencies with strong credit ratings. We have established guidelines relative to diversification and maturities that are designed to help ensure safety and liquidity. These guidelines are periodically reviewed to take advantage of trends in yields and interest rates.</span></div><div style="margin-top:12pt;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Cash, cash equivalents, and restricted cash are maintained at financial institutions, and at times, balances may exceed federally insured limits. We have never experienced any losses related to these balances. Amounts on deposit in excess of federally insured limits at December 31, 2023 and 2022 approximated </span><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$53.8 million</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> and $53.6 million, respectively.</span></div><div style="margin-top:12pt;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We have payables with</span><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> two </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">service providers that represent </span><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">38%</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> of our total payables and with two service providers that represented 45% of our total payables at December 31, 2023 and 2022, respectively. We rely on </span><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">six</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> critical suppliers for the manufacture of our drug product for use in our clinical trials. While we believe that there are alternative vendors available, a change in manufacturing vendors could cause a delay in the availability of drug product and result in a delay of conducting and completing our clinical trials. No other vendor accounted for more than 10% of total payables at December 31, 2023 or 2022.</span></div><div style="margin-top:12pt;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We have receivables with </span><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">three</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> customers and service providers that represent </span><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">76% </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">of our total receivables and with four customers and service providers that represent 91% of our total receivables at December 31, 2023 and 2022, </span></div><div style="margin-top:12pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">respectively. The receivables are related to cost share reimbursement and royalty revenues from our licensing and collaboration agreements. No other customer accounted for more than 10% of total receivables at December 31, 2023 or 2022.</span></div>
CY2023Q4 us-gaap Cash Uninsured Amount
CashUninsuredAmount
53800000 usd
CY2022Q4 us-gaap Cash Uninsured Amount
CashUninsuredAmount
53600000 usd
CY2023 xncr Number Of Primary Criteria To Determine Capitalization Of Patent
NumberOfPrimaryCriteriaToDetermineCapitalizationOfPatent
3 criteria
CY2023 us-gaap Noncash Project Abandonment Costs
NoncashProjectAbandonmentCosts
1300000 usd
CY2022 us-gaap Noncash Project Abandonment Costs
NoncashProjectAbandonmentCosts
1500000 usd
CY2021 us-gaap Noncash Project Abandonment Costs
NoncashProjectAbandonmentCosts
900000 usd
CY2023Q4 us-gaap Intangible Assets Gross Excluding Goodwill
IntangibleAssetsGrossExcludingGoodwill
29469000 usd
CY2022Q4 us-gaap Intangible Assets Gross Excluding Goodwill
IntangibleAssetsGrossExcludingGoodwill
28170000 usd
CY2023Q4 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
18663000 usd
CY2022Q4 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
18500000 usd
CY2023 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
1300000 usd
CY2022 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
1400000 usd
CY2021 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
1200000 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
1076000 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
1059000 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
961000 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
908000 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
776000 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Amortization Expense After Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive
3760000 usd
CY2023 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
5800000 usd
CY2022 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
700000 usd
CY2023 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
53800000 usd
CY2022 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
48900000 usd
CY2021 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
37000000 usd
CY2023 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-126087000 usd
CY2022 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-55181000 usd
CY2021 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
82631000 usd
CY2023 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
60503283 shares
CY2022 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
59652461 shares
CY2021 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
58379641 shares
CY2023 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-2.08
CY2022 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.93
CY2021 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.42
CY2023 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-126087000 usd
CY2022 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-55181000 usd
CY2021 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
82631000 usd
CY2023 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
60503283 shares
CY2022 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
59652461 shares
CY2021 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
58379641 shares
CY2023 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
0 shares
CY2022 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
0 shares
CY2021 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
2115814 shares
CY2023 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
60503283 shares
CY2022 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
59652461 shares
CY2021 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
60495455 shares
CY2023 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-2.08
CY2022 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.93
CY2021 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.37
CY2022 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1196268 shares
CY2023 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1 segment
CY2023Q4 xncr Cash And Cash Equivalents And Marketable Securities Amortized Cost
CashAndCashEquivalentsAndMarketableSecuritiesAmortizedCost
667455000 usd
CY2023Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
1379000 usd
CY2023Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
77000 usd
CY2023Q4 us-gaap Investments
Investments
668757000 usd
CY2023Q4 us-gaap Investments
Investments
668757000 usd
CY2022Q4 xncr Cash And Cash Equivalents And Marketable Securities Amortized Cost
CashAndCashEquivalentsAndMarketableSecuritiesAmortizedCost
578424000 usd
CY2022Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
3000 usd
CY2022Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
6945000 usd
CY2022Q4 us-gaap Investments
Investments
571482000 usd
CY2022Q4 us-gaap Investments
Investments
571482000 usd
CY2023Q4 us-gaap Available For Sale Securities Debt Maturities Within One Year Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearAmortizedCost
497326000 usd
CY2023Q4 us-gaap Available For Sale Securities Debt Maturities Within One Year Fair Value
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue
497725000 usd
CY2023Q4 us-gaap Available For Sale Securities Debt Maturities After One Through Five Years Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsAmortizedCost
144609000 usd
CY2023Q4 us-gaap Available For Sale Securities Debt Maturities After One Through Five Years Fair Value
AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsFairValue
145511000 usd
CY2023Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
641935000 usd
CY2023Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
643236000 usd
CY2021 us-gaap Effective Income Tax Rate Reconciliation Fdii Amount
EffectiveIncomeTaxRateReconciliationFdiiAmount
0 usd
CY2023 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
417000 usd
CY2022 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
-74000 usd
CY2021 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
95000 usd
CY2023Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12Months
74619000 usd
CY2023Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12MonthsAccumulatedLoss
78000 usd
CY2023Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLonger
0 usd
CY2023Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLongerAccumulatedLoss
0 usd
CY2022Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12Months
457591000 usd
CY2022Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12MonthsAccumulatedLoss
6940000 usd
CY2022Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLonger
3826000 usd
CY2022Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLongerAccumulatedLoss
5000 usd
CY2023 us-gaap Equity Securities Fv Ni Gain Loss
EquitySecuritiesFvNiGainLoss
-395000 usd
CY2022 us-gaap Equity Securities Fv Ni Gain Loss
EquitySecuritiesFvNiGainLoss
23434000 usd
CY2021 us-gaap Equity Securities Fv Ni Gain Loss
EquitySecuritiesFvNiGainLoss
39289000 usd
CY2023 us-gaap Equity Securities Fv Ni Realized Gain Loss
EquitySecuritiesFvNiRealizedGainLoss
0 usd
CY2022 us-gaap Equity Securities Fv Ni Realized Gain Loss
EquitySecuritiesFvNiRealizedGainLoss
0 usd
CY2021 us-gaap Equity Securities Fv Ni Realized Gain Loss
EquitySecuritiesFvNiRealizedGainLoss
18301000 usd
CY2023 us-gaap Equity Securities Fv Ni Unrealized Gain Loss
EquitySecuritiesFvNiUnrealizedGainLoss
-395000 usd
CY2022 us-gaap Equity Securities Fv Ni Unrealized Gain Loss
EquitySecuritiesFvNiUnrealizedGainLoss
23434000 usd
CY2021 us-gaap Equity Securities Fv Ni Unrealized Gain Loss
EquitySecuritiesFvNiUnrealizedGainLoss
20988000 usd
CY2023Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
102350000 usd
CY2022Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
87472000 usd
CY2023Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
36226000 usd
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
28289000 usd
CY2023Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
66124000 usd
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
59183000 usd
CY2023 us-gaap Depreciation And Amortization
DepreciationAndAmortization
10100000 usd
CY2022 us-gaap Depreciation And Amortization
DepreciationAndAmortization
7400000 usd
CY2021 us-gaap Depreciation And Amortization
DepreciationAndAmortization
6300000 usd
CY2023 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
5800000 usd
CY2022 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
700000 usd
CY2021 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0 usd
CY2023 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
-25258000 usd
CY2022 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
-11447000 usd
CY2021 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
17352000 usd
CY2023 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
-569000 usd
CY2022 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
-615000 usd
CY2021 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
783000 usd
CY2023 xncr Income Tax Reconciliation Research And Development Credit
IncomeTaxReconciliationResearchAndDevelopmentCredit
-15821000 usd
CY2022 xncr Income Tax Reconciliation Research And Development Credit
IncomeTaxReconciliationResearchAndDevelopmentCredit
-9366000 usd
CY2021 xncr Income Tax Reconciliation Research And Development Credit
IncomeTaxReconciliationResearchAndDevelopmentCredit
-10492000 usd
CY2023 us-gaap Income Tax Reconciliation Nondeductible Expense Share Based Compensation Cost
IncomeTaxReconciliationNondeductibleExpenseShareBasedCompensationCost
3131000 usd
CY2022 us-gaap Income Tax Reconciliation Nondeductible Expense Share Based Compensation Cost
IncomeTaxReconciliationNondeductibleExpenseShareBasedCompensationCost
3384000 usd
CY2021 us-gaap Income Tax Reconciliation Nondeductible Expense Share Based Compensation Cost
IncomeTaxReconciliationNondeductibleExpenseShareBasedCompensationCost
2424000 usd
CY2023 us-gaap Effective Income Tax Rate Reconciliation Fdii Amount
EffectiveIncomeTaxRateReconciliationFdiiAmount
1188000 usd
CY2022 us-gaap Effective Income Tax Rate Reconciliation Fdii Amount
EffectiveIncomeTaxRateReconciliationFdiiAmount
1449000 usd
CY2023 xncr Effective Income Tax Rate Reconciliation Change In State Rate Amount
EffectiveIncomeTaxRateReconciliationChangeInStateRateAmount
234000 usd
CY2022 xncr Effective Income Tax Rate Reconciliation Change In State Rate Amount
EffectiveIncomeTaxRateReconciliationChangeInStateRateAmount
44000 usd
CY2021 xncr Effective Income Tax Rate Reconciliation Change In State Rate Amount
EffectiveIncomeTaxRateReconciliationChangeInStateRateAmount
2599000 usd
CY2023 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
44865000 usd
CY2022 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
20196000 usd
CY2021 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
-12761000 usd
CY2023 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
5811000 usd
CY2022 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
673000 usd
CY2021 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0 usd
CY2023Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
22466000 usd
CY2022Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
32898000 usd
CY2023Q4 us-gaap Deferred Tax Assets Tax Credit Carryforwards Research
DeferredTaxAssetsTaxCreditCarryforwardsResearch
53198000 usd
CY2022Q4 us-gaap Deferred Tax Assets Tax Credit Carryforwards Research
DeferredTaxAssetsTaxCreditCarryforwardsResearch
54825000 usd
CY2023Q4 xncr Deferred Tax Asset Debt Securities Available For Sale Unrealized Gain Loss
DeferredTaxAssetDebtSecuritiesAvailableForSaleUnrealizedGainLoss
-278000 usd
CY2022Q4 xncr Deferred Tax Asset Debt Securities Available For Sale Unrealized Gain Loss
DeferredTaxAssetDebtSecuritiesAvailableForSaleUnrealizedGainLoss
1573000 usd
CY2023Q4 xncr Deferred Tax Assets Capitalized Lease Assets
DeferredTaxAssetsCapitalizedLeaseAssets
6161000 usd
CY2022Q4 xncr Deferred Tax Assets Capitalized Lease Assets
DeferredTaxAssetsCapitalizedLeaseAssets
5564000 usd
CY2023Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Employee Compensation
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsEmployeeCompensation
18172000 usd
CY2022Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Employee Compensation
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsEmployeeCompensation
14484000 usd
CY2023Q4 us-gaap Deferred Tax Assets Deferred Income
DeferredTaxAssetsDeferredIncome
34405000 usd
CY2022Q4 us-gaap Deferred Tax Assets Deferred Income
DeferredTaxAssetsDeferredIncome
3225000 usd
CY2023Q4 xncr Deferred Tax Assets Tax Deferred Expense Capitalized Research And Experimental Expenditures
DeferredTaxAssetsTaxDeferredExpenseCapitalizedResearchAndExperimentalExpenditures
45783000 usd
CY2022Q4 xncr Deferred Tax Assets Tax Deferred Expense Capitalized Research And Experimental Expenditures
DeferredTaxAssetsTaxDeferredExpenseCapitalizedResearchAndExperimentalExpenditures
21338000 usd
CY2023Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
179907000 usd
CY2022Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
133907000 usd
CY2023Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
158099000 usd
CY2022Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
115010000 usd
CY2023Q4 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
21808000 usd
CY2022Q4 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
18897000 usd
CY2023Q4 us-gaap Deferred Tax Liabilities Deferred Expense Capitalized Patent Costs
DeferredTaxLiabilitiesDeferredExpenseCapitalizedPatentCosts
2218000 usd
CY2022Q4 us-gaap Deferred Tax Liabilities Deferred Expense Capitalized Patent Costs
DeferredTaxLiabilitiesDeferredExpenseCapitalizedPatentCosts
2885000 usd
CY2023Q4 xncr Deferred Tax Liabilities License Costs
DeferredTaxLiabilitiesLicenseCosts
136000 usd
CY2022Q4 xncr Deferred Tax Liabilities License Costs
DeferredTaxLiabilitiesLicenseCosts
124000 usd
CY2023Q4 xncr Deferred Tax Liabilities Capitalized Legal Costs
DeferredTaxLiabilitiesCapitalizedLegalCosts
6000 usd
CY2022Q4 xncr Deferred Tax Liabilities Capitalized Legal Costs
DeferredTaxLiabilitiesCapitalizedLegalCosts
9000 usd
CY2023Q4 us-gaap Deferred Tax Liabilities Property Plant And Equipment
DeferredTaxLiabilitiesPropertyPlantAndEquipment
10664000 usd
CY2022Q4 us-gaap Deferred Tax Liabilities Property Plant And Equipment
DeferredTaxLiabilitiesPropertyPlantAndEquipment
6532000 usd
CY2023Q4 us-gaap Deferred Tax Liabilities Other Comprehensive Income
DeferredTaxLiabilitiesOtherComprehensiveIncome
8784000 usd
CY2022Q4 us-gaap Deferred Tax Liabilities Other Comprehensive Income
DeferredTaxLiabilitiesOtherComprehensiveIncome
9347000 usd
CY2023Q4 us-gaap Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
21808000 usd
CY2022Q4 us-gaap Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
18897000 usd
CY2023Q4 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
0 usd
CY2022Q4 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
0 usd
CY2023 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
43100000 usd
CY2023 us-gaap Share Based Compensation
ShareBasedCompensation
53755000 usd
CY2022 us-gaap Share Based Compensation
ShareBasedCompensation
48913000 usd
CY2021 us-gaap Share Based Compensation
ShareBasedCompensation
36975000 usd
CY2023 us-gaap Share Based Compensation
ShareBasedCompensation
53755000 usd
CY2022 us-gaap Share Based Compensation
ShareBasedCompensation
48913000 usd
CY2021 us-gaap Share Based Compensation
ShareBasedCompensation
36975000 usd
CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
CY2023Q4 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
400000 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
6128000 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
8022000 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
9238000 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
9560000 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
9076000 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
66435000 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
108459000 usd
CY2023Q4 xncr Lessee Operating Lease Liability Tenant Allowance
LesseeOperatingLeaseLiabilityTenantAllowance
3252000 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
42747000 usd
CY2023Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
62460000 usd
CY2023Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
3435000 usd
CY2023Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
59025000 usd
CY2023Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
62460000 usd
CY2023 us-gaap Operating Lease Cost
OperatingLeaseCost
8459000 usd
CY2022 us-gaap Operating Lease Cost
OperatingLeaseCost
6588000 usd
CY2021 us-gaap Operating Lease Cost
OperatingLeaseCost
4342000 usd
CY2023 us-gaap Variable Lease Cost
VariableLeaseCost
906000 usd
CY2022 us-gaap Variable Lease Cost
VariableLeaseCost
506000 usd
CY2021 us-gaap Variable Lease Cost
VariableLeaseCost
58000 usd
CY2023 us-gaap Lease Cost
LeaseCost
9365000 usd
CY2022 us-gaap Lease Cost
LeaseCost
7094000 usd
CY2021 us-gaap Lease Cost
LeaseCost
4400000 usd
CY2023 us-gaap Operating Lease Payments
OperatingLeasePayments
3253000 usd
CY2022 us-gaap Operating Lease Payments
OperatingLeasePayments
2869000 usd
CY2021 us-gaap Operating Lease Payments
OperatingLeasePayments
2773000 usd
CY2023Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P11Y
CY2022Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P12Y
CY2021Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P12Y3M18D
CY2023Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.089
CY2022Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.089
CY2021Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.058
CY2023 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
168300000 usd
CY2022 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
164600000 usd
CY2021 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
275100000 usd
CY2023 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
168300000 usd
CY2022 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
164600000 usd
CY2021 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
275100000 usd
CY2023 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
168300000 usd
CY2022 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
164600000 usd
CY2021 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
275100000 usd
CY2022Q4 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
30300000 usd
CY2022Q4 xncr Royalty Liability Noncurrent
RoyaltyLiabilityNoncurrent
0 usd
CY2023 us-gaap Proceeds From Royalties Received
ProceedsFromRoyaltiesReceived
20293000 usd
CY2023 xncr Royalty Liability Payments
RoyaltyLiabilityPayments
0 usd
CY2023 xncr Royalty Liability Interest Expense Including Amortization Of Closing Costs
RoyaltyLiabilityInterestExpenseIncludingAmortizationOfClosingCosts
681000 usd
CY2023Q4 xncr Royalty Liability Noncurrent
RoyaltyLiabilityNoncurrent
20974000 usd
CY2023Q4 xncr Royalty Liabilities Short Term Debt
RoyaltyLiabilitiesShortTermDebt
6332000 usd
CY2023Q4 xncr Royalty Liabilities Long Term Debt
RoyaltyLiabilitiesLongTermDebt
14642000 usd
CY2023Q4 xncr Royalty Liability Debt Long Term And Short Term Combined Amount
RoyaltyLiabilityDebtLongTermAndShortTermCombinedAmount
20974000 usd
CY2020Q1 us-gaap Defined Contribution Plan Employer Matching Contribution Percent
DefinedContributionPlanEmployerMatchingContributionPercent
0.040
CY2023 xncr Defined Contribution Plan Vesting Period
DefinedContributionPlanVestingPeriod
P3Y
CY2023 us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
1700000 usd
CY2022 us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
1400000 usd
CY2021 us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
1100000 usd
CY2023Q4 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2023Q4 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2023Q4 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false
CY2023Q4 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false

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