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Xencor Shares Rise After Settlement Deal With Alexion

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Xencor (XNCR) shares were up about 10% in Thursday trading after the company said it has reached a settlement agreement with Astrazeneca (AZN) subsidiary, Alexion Pharma International, to resolve a commercial dispute over US royalties on Ultomiris.

Xencor said it will receive $105 million in two equal payments following the settlement, adding that Alexion will no longer have to pay royalties on US sales of the drug.

The company said it expects to continue receiving royalties on sales outside the US.

Xencor added that it expects to have sufficient cash resources to fund programs and operations through 2028.

Price: $21.56, Change: $+2.03, Percent Change: +10.39%

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