Xencor, Inc. · NASDAQ:XNCR
Xencor — Technical Presentation (October 2026)
47 slides from Xencor's technical presentation, Oct 26, 2026
Slide 1: Updated Results from Dose Expansion Cohorts in the Phase 1 Study of XmAb819
® Designing Proteins Delivering Medicines Updated Results from Dose Expansion Cohorts in the Phase 1 Study of XmAb819 October 26, 2026
Slide 2: Today's Speakers
2 Today's Speakers Bassil Dahiyat, Ph.D. President & Chief Executive Officer Xencor Management Guest Speaker Sumanta Pal, M.D., F.A.S.C.O. Professor, Department of Medical Oncology & Therapeutics Research Vice Chair of Academic Affairs Co-director, Kidney Cancer Program City of Hope Comprehensive Ca
Slide 3: Today's Agenda
3 Today's Agenda XmAb819 development strategy Updated Phase 1 results of XmAb819, a novel ENPP3 x CD3 bispecific, in advanced clear cell renal cell carcinoma (ccRCC) Overview & XmAb® 2+1 T-cell Engagers Summary and Q&A Additional results
Slide 4: Forward-Looking Statements
4 Forward-Looking Statements Certain statements contained in this presentation, other than statements of historical fact, may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements include, but are not limited to, statements
Slide 5: Xencor at the forefront of bispecific T-cell engagers in solid tumors
5 Xencor is at the forefront of bispecific T-cell engagers in solid tumors with the 3rd late-stage XmAb® program expected in 2027 XmAb819 ENPP3 x CD3 Planned, potential registration-enabling study start in 2027 Advanced ccRCC and ENPP3+ tumors 100% Wholly Owned Xaluritamig STEAP1 x CD3 Phase 3 Prost
Slide 6: Oncology Clinical Studies and Autoimmune Programs
6 Oncology Clinical Studies Our focus on clinical excellence to realize value from XmAb® platform Cash runway into 2029 2024 2026 2025 2027 (Planned) Solid Tumor Oncology ccRCC clear cell renal cell carcinoma Exp expansion FIH first-in-human HGSOC high-grade serous ovarian carcinoma IBD inflammatory
Slide 7: XmAb 2+1 T Cell Engagers
XmAb® 2+ T Cell Engagers 2, xencor
Slide 8: Solid tumor targeting challenge: target expression on normal tissues
8 Solid tumor targeting challenge: target expression on normal tissues XmAb® 2+1 format aims to combine tumor selectivity with high potency to treat aggressive cancers Low potency / High selectivity High potency / High selectivity Low potency / Low selectivity High potency / Low selectivity Low High
Slide 9: Tuned XmAb 2+1 formats improve selectivity of T-cell engagers
9 Tuned XmAb® 2+1 formats potentially improve selectivity of T-cell engagers in solid tumors Tumor cell Normal cell 1+1 format 1+1 high affinity needed to bind tumor cells Also binds normal cells 1+1 format XmAb 2+1 high avidity/low affinity target binding Selective for tumor cells Tumor cell Normal
Slide 10: Tuned XmAb 2+1 formats improve selectivity of T-cell engagers
10 Tuned XmAb® 2+1 formats potentially improve selectivity of T-cell engagers in solid tumors Tumor cell Normal cell 1+1 format 1+1 high affinity needed to bind tumor cells Also binds normal cells 1+1 kills both tumor and normal cells tumor normal XmAb 2+1 high avidity/low affinity target binding Se
Slide 11: XmAb819 is an XmAb 2+1 ENPP3 x CD3 bispecific antibody for ccRCC
11 XmAb819 is an XmAb® 2+1 ENPP3 x CD3 bispecific antibody in development for ccRCC αCD3 αENPP3 αENPP3 1 10 100 1000 10000 0 20 40 60 80 mAb [ng/mL] % Cytotoxicity Preferential killing of ENPP3high cells in vitro High ENPP3 Low ENPP3 Full length 2+1 antibody-like format 0 5 10 15 20 0 250 500 750 10
Slide 12: XmAb819 targets ENPP3 in renal cell carcinoma and other solid tumors
12 XmAb819 targets ENPP3 for treatment of renal cell carcinoma and other solid tumors ENPP3 is strongly expressed in ccRCC and in subsets of other histologies ccRCC pRCC CRC NSCLC (Ad) ccRCC clear cell renal cell carcinoma CRC colorectal cancer IDC invasive ductal carcinoma NSCLC non-small cell lung
Slide 13: XmAb engineering: modular, stable and tuned for purpose
13 XmAb® engineering: modular, stable and tuned for purpose Highly stable – Long half-life – Standard manufacturing Engineer robust, soluble, variable and Fc domain modules Fv domains Fc domains Tune affinity and other properties for specific use Affinity series Epitope series Assemble modules into
Slide 14: XmAb819 PK profile supports Q2W+ dosing schedule
14 XmAb819 PK profile supports Q2W+ dosing schedule • Well characterized by a two compartment PopPK model • Linear clearance and dose proportional exposure • ~1000x range of doses • Terminal half life ~ 8 days • Quantitative Systems Pharmacology (QSP) Model • 100 µg/kg and 200 µg/kg doses maintained
Slide 15: XmAb819 late-phase manufacturing activities initiated
15 XmAb819 late-phase manufacturing activities initiated Modular XmAb design and expert CMC execution create scalable process and stable product Robust process Highly stable Supply chain Cell bank – well characterized, high titer Drug substance (DS) – Xencor platform process 2000L scale Drug product
Slide 16: Phase 1 results of XmAb819 in advanced ccRCC
Phase 1 results of XmAb819, a novel ENPP3 x CD3 bispecific, in advanced clear cell renal cell carcinoma (ccRCC) Sumanta K. Pal1, Benjamin Garmezy2, Randy F. Sweis3, Mehmet A. Bilen4, Scott S. Tykodi5, Yuanquan Yang6, Karie Runcie7, David A. Braun8, David J. VanderWeele9, Claud M. Grigg10, Christophe
Slide 17: XmAb819, ENPP3 x CD3 bispecific antibody in development for ccRCC
Pal SK, et al. XmAb819, ENPP3 x CD3 bispecific antibody in development for ccRCC ENPP3 ectonucleotide pyrophosphatase / phosphodiesterase family member 3 1Doñate, Fernando, et al. Clinical Cancer Research 22.8 (2016) • ENPP3 is an extracellular nucleotide metabolizing enzyme with high expression in
Slide 18: XmAb819-01: Phase 1 study design in advanced ccRCC
XmAb819-01: Phase 1 study design in advanced ccRCC Key Eligibility Criteria • R/R ccRCC – prior ICI & VEGFR-TKI • Measurable disease by RECIST v1.1 • No prior anti-ENPP3 therapy Endpoints • Primary: Safety & Tolerability • Secondary: • ORR, DOR, PFS per RECIST 1.1 • Pharmacokinetics NCT05433142. US
Slide 19: Patient characteristics
Patient characteristics Baseline Characteristic All IV Doses (n=119) Expansion Doses (n=68) Median Age, Years (range) 61 (34, 78) 62 (34, 78) Male, n (%) 97 (81.5) 58 (85.3) Race – White, n (%) 101 (84.9) 56 (82.4) Time Since Disease Diagnosis, mo. (range) 52.5 (7, 287) 49.5 (7, 287) IMDC Risk Score
Slide 20: Adverse events
Adverse events Expansion Doses (n=68) Any Incidence >Day 29 Onset Preferred Term, n (%) All grades Grade ≥3 All grades Grade ≥3 Rash (combined term)1 62 (91.2) 15 (22.1) 20 (29.4) 2 (2.9) Cytokine release syndrome 46 (67.6) 4 (5.9) 12 (17.6) 1 (1.5) ALT increased 36 (52.9) 23 (33.8) 12 (17.6) 7 (10.
Slide 21: Adverse events
Adverse events Expansion Doses (n=68) Any Incidence >Day 29 Onset Preferred Term, n (%) All grades Grade ≥3 All grades Grade ≥3 Rash (combined term)1 62 (91.2) 15 (22.1) 20 (29.4) 2 (2.9) Cytokine release syndrome 46 (67.6) 4 (5.9) 12 (17.6) 1 (1.5) ALT increased 36 (52.9) 23 (33.8) 12 (17.6) 7 (10.
Slide 22: Cytokine release syndrome (CRS)
Cytokine release syndrome (CRS) • CRS was predominately low-grade and occurred during priming • No dose delays and one treatment discontinuation due to CRS • Premedications for XmAb819: ▪ Acetaminophen, diphenhydramine, and IV normal saline ▪ Dexamethasone prior to priming doses ▪ Tocilizumab prior
Slide 23: Cytokine-driven adverse events
Cytokine-driven adverse events Median of the per-subject maximum of ALT and AST (central laboratory), expressed as ×ULN, among subjects with an available result at each timepoint. Data cut-off: 01 September 2026. Rash by Max Grade & Dose (n=68) Transaminase kinetics by Dose (n=68) Combined rash term
Slide 24: Antitumor activity at target dose of 100 μg/kg
Antitumor activity at target dose of 100 μg/kg Efficacy Evaluable 100 μg/kg (n = 30) Confirmed ORR, % (95% CI) 30.0 (14.7, 49.4) BOR, n (%) CR 1 (3.3) PR 8 (26.7) SD 17 (56.7) PD 4 (13.3) DCR, % (95% CI) 86.7 (69.3, 96.2) Median follow-up, months (range) 4.1 (1.1, 28.3) Efficacy analysis includes su
Slide 25: Antitumor activity at target dose of 200 μg/kg
Efficacy analysis includes subjects with ≥1 protocol-specified dose of XmAb819 and ≥1 post-baseline tumor assessment. Confirmed responses per investigator assessment, RECIST v1.1. Data cut-off: 01 September 2026. 1Two subjects at 200 μg/kg discontinued treatment without a post-baseline response asse
Slide 26: Antitumor activity at target dose of 400 μg/kg
Efficacy Evaluable 400 μg/kg (n = 11) Confirmed ORR, % (95% CI) 45.5 (16.8, 76.6) BOR, n (%) CR - PR 5 (45.5) SD 4 (36.4) PD 2 (18.2) DCR, % (95% CI) 81.8 (48.2, 97.7) Median follow-up, months (range) 6.0 (1.4, 7.9) Efficacy analysis includes subjects with ≥1 protocol-specified dose of XmAb819 and ≥
Slide 27: Antitumor activity in prior therapy subgroups
Antitumor activity of 100-400 μg/kg doses in prior therapy subgroups Best % Change from Baseline -100 -80 -60 -40 -20 0 20 40 Best % Change from Baseline -100 -80 -60 -40 -20 0 20 40 Prior HIF2α Inhibitor (n=23) Prior ≥2 VEGFR-TKIs (n=42) Expanded Doses Prior HIF2α (n = 23) ≥2 VEGFR-TKIs (n=42) Conf
Slide 28: Depth and duration of responses
Depth and duration of responses Responders Expansion Doses (n=25) Ongoing Responses, n (%) 19 (76.0) Median TTR, months (range) 2.7 (1.3, 20.9) Median time on treatment, months (range) 7.0 (3.4, 28.3) Spider Plot of Confirmed Responders Across All IV Doses (n = 27) % Change from Baseline Study Month
Slide 29: Patient case study: Deepening of response over time
Pal SK, et al. Patient case study: Deepening of response over time • Background: Male, 57 years old, RCC diagnosed 10 years ago, metastatic disease ~5 years ago • Prior therapy: 2 prior therapy lines cabozantinib + nivolumab (1 mo) → progression & lenvatinib + everolimus (3 yrs) → progression • Base
Slide 30: Conclusions
Conclusions • XmAb819 (ENPP3 x CD3) showed meaningful antitumor activity in patients with advanced ccRCC. • Antitumor activity was observed in a dose-dependent manner, with a cORR of 30% at 100 μg/kg, 44% at 200 μg/kg, and 45% at 400 μg/kg, and a majority of responses ongoing at data cut. • Consiste
Slide 31: Additional Results
Additional Results <5 xencor
Slide 32: Durable disease control in heavily pre-treated advanced ccRCC population
32 Durable disease control observed in heavily pre-treated advanced ccRCC population 7.9 month median time-on-treatment1 Current follow-up for the consolidated IV target dose patient population (expanded doses: 100, 200 and 400 µg/kg) n=66; 95% CI: 5.8, 13.4 Data-cut: 01-Oct-2026 1 Kaplan-Meier esti
Slide 33: Deepening of response and new responses over time were common
33 Tx Deepening of response and new responses over time were common • Consistent with sustained T-cell activation and low adverse event rate after priming period • Combination of rapid disease control with potential for longer term deepening of response • Response profile matured over several cycles
Slide 34: 400 μg/kg target dose results and proposed RP3D
34 • 45% cORR plus additional week 42 conversion of a stable disease patient to uPR (uORR 55%) • >80% DCR, low rate of primary progressive disease • >70% of patients with treatment ongoing • ~82% 6-month PFS K-M estimate at follow-up • Median PFS is Not Reached • Safety results: 400 μg/kg consistent
Slide 35: Global randomized trial with tivozanib control arm could support BLA submission
35 Global randomized control trial with a tivozanib control arm could potentially support BLA submission seeking a post IO-TKI label1 3L sub-group analysis of TiNivo-2 provides a basis for expectations of standard dose tivozanib outcomes in a contemporary post IO-TKI patient population 1 Study desig
Slide 36: XmAb819 Development Strategy
36 ® XmAb819 Development Strategy
Slide 37: XmAb819 response rate versus approved ccRCC therapies
37 45% XmAb819 400 µg/kg Target Dose 33% 32% 31% 31% Cabozantinib CABOSUN Pazopanib VEG105192 Pazopanib COMPARZ Sunitinib Motzer 2007 23% 19% 17% Nivolumab CheckMate 025 Axitinib AXIS Cabozantinib METEOR 22% 18% Belzutifan LITESPARK-005 Tivozanib TIVO-3 4L 1L 2L 3L+ 1 Cross-trial comparison for illu
Slide 38: XmAb819 objective response relative to primary progression
38 XmAb819 Phase 1 study, 400 µg/kg IV 82% +27% Cabozantinib METEOR 57% +3% Axitinib AXIS 70% -3% Tivozanib TIVO-3 80% -4% Belzutifan LITESPARK-005 78% -12% Nivolumab CheckMate 025 65% -12% 18% 14% 22% 22% 34% 35% 45% 17% 19% 18% 22% 23% XmAb819 high objective response rate relative to primary progr
Slide 39: Treatment discontinuation due to adverse events
39 7% 6% 9% 10% 16% 21% Belzutifan (LITESPARK-005) XmAb819 (Phase 1) Axitinib (AXIS) Cabozantinib (METEOR) Nivolumab (CheckMate 025) Tivozanib (TIVO-3) 1 Cross-trial comparison for illustration only and is not based on head-to-head studies; trials differ in design, population, exposure duration and
Slide 40: Plans to discuss accelerated approval pathway for XmAb819
40 Xencor plans to discuss accelerated approval pathway for XmAb819 based on efficacy results in key sub-groups Best % Change from Baseline -100 -80 -60 -40 -20 0 20 40 Prior IO, ≥2 VEGFR-TKIs +/- Prior HIF2α Inhibitor (n=42) DCR, disease control rate; HIF2α, hypoxia-inducible factor 2-alpha; ORR, o
Slide 41: Development plan for XmAb819 to become backbone of ccRCC treatment
41 Q3W IV / reduced hospitalization Planned Increase Clinical Convenience 1 Komodo Health claims data; nationally weighted U.S. patient estimates for 2025 ccRCC clear cell renal cell carcinoma IO immuno-oncology IV intravenous TCE T-cell engager TKI tyrosine kinase inhibitor SC subcutaneous Q3W ever
Slide 42: Global RCC drug market opportunity
42 ~$5B 1 cabozantinib, lenvatinib, axitinib, sunitinib, pazopanib, tivozanib ~$5.6B 2 nivolumab, pembrolizumab, ipilimumab, avelumab ~$1.1B 3 belzutifan TKI 43% IO 48% HIF2α 9% 1 Estimate based on 2025 cabozantinib net product revenue and RCC market share internal estimates from Xencor 2 Estimate b
Slide 43: U.S. 2030 TAM in ENPP3+ papillary RCC, CRC and NSCLC
43 U.S. 2030 TAM in ENPP3+¹ papillary RCC, MSS colorectal cancer and NSCLC +$4.5B 1 Estimates for U.S. ENPP3+ population based on H-Score of ≥25 cutoff CRC colorectal cancer FTD/TPI trifluridine/tipiracil IO immuno-oncology MSS microsatellite stable NSCLC non-small cell lung cancer SoC standard of c
Slide 44: Expected 2027 plans for XmAb819
44 Expected 2027 plans include first potential registration - enabling study in ccRCC and further data from ongoing Phase 1 study cohorts Initiation of first registration - enabling study targeted by YE2027 YE 2027 2027 Present first data from post 1L IO - IO for IMDC intermediate/poor risk patients
Slide 45: Accelerating pace of readouts across pipeline through 2027
45 Focus on clinical excellence is expected to deliver an accelerating pace of readouts across Xencor's pipeline through 2027 XmAb® Drug Candidate Indication Oncology Portfolio 2H2026 2027 (Planned) Autoimmune Portfolio As of 26-Oct-2026 ACR American College of Rheumatology (Convergence 2026) ccRCC
Slide 46: Xencor
08 <¢>xencor
Slide 47: Updated Results from Dose Expansion Cohorts in the Phase 1 Study of XmAb819
® Designing Proteins Delivering Medicines Updated Results from Dose Expansion Cohorts in the Phase 1 Study of XmAb819 October 26, 2026