Xencor Sells Portion Of Royalties And Milestones From Ultomiris And Monjuvi To OMERS Life Sciences For $215M
Portfolio Pulse from Benzinga Newsdesk
Xencor, Inc. (NASDAQ:XNCR) has sold portions of its financial interests from Alexion Pharmaceuticals and MorphoSys AG to OMERS Life Sciences for $215 million. The deal includes royalties from sales of Ultomiris and Monjuvi from July 1, 2023, and a majority of a milestone payment earned this year. Xencor will also be eligible for a new Ultomiris sales-based milestone payment from OMERS.
November 07, 2023 | 10:04 pm
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Xencor's sale of royalties and milestones to OMERS for $215M strengthens its financial position and provides additional flexibility for its internal clinical development programs.
The sale of royalties and milestones provides Xencor with a significant cash influx, strengthening its financial position. This could positively impact the company's ability to invest in its internal clinical development programs, potentially leading to future growth. Therefore, this news is likely to have a positive impact on Xencor's stock price in the short term.
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