Xencor (XNCR) Research & Development (2013 - 2026)
Xencor (XNCR) posted quarterly Research & Development of $64.7 million for Q1 2026, up 10.4% year-over-year from $58.6 million in Q1 2025, and little changed quarter-over-quarter from $64.8 million in Q4 2025.
Xencor (XNCR) Research & Development (2013 - 2026) Analysis & Trends
Xencor (XNCR) has reported Research & Development for 14 consecutive years, with $64.7 million the latest figure, recorded in Q1 2026.
- In Q1 2026, Research & Development rose 10.4% year-over-year to $64.7 million; the TTM figure through Mar 2026 stood at $245.5 million (up 7.03% YoY), while the FY2025 annual figure was $239.4 million, up 5.16% from the prior year.
- Research & Development steadied at $64.7 million in Q1 2026 per XNCR's latest filing, from $64.8 million in the prior quarter.
- Across five years, Research & Development topped out at $64.9 million in Q3 2023 and bottomed at $47.1 million in Q2 2022.
- Historically, Research & Development has averaged $57.9 million across 5 years, with a median of $58.6 million in 2025.
- Annual changes were most pronounced in 2023 — Research & Development jumped 34.81% — and 2024, when it dropped 20.5%.
- Xencor's Research & Development stood at $51.5 million in 2022, then gained by 24.82% to $64.2 million in 2023, then fell by 20.5% to $51.1 million in 2024, then climbed by 26.97% to $64.8 million in 2025, then decreased by 0.24% to $64.7 million in 2026.
- Business Quant data shows XNCR's Research & Development at $64.7 million in Q1 2026, $64.8 million in Q4 2025, and $54.4 million in Q3 2025.
Powered by 
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | R&D (Qtr) |
|---|---|---|---|---|---|
| 1 | Vertex Pharmaceuticals | 128.13 Bn | 120.28 Bn | 2.84 Bn | 993.80 Mn |
| 2 | Regeneron Pharmaceuticals | 112.33 Bn | 104.33 Bn | 3.93 Bn | 1.63 Bn |
| 3 | Argenx Se | 53.24 Bn | 48.05 Bn | 1.41 Bn | 1.37 Bn |
| 4 | Revolution Medicines | 43.64 Bn | 43.64 Bn | - | 394.92 Mn |
| 5 | BeOne Medicines | 39.27 Bn | 34.17 Bn | 1.53 Bn | 612.28 Mn |
| 6 | MindWalk Holdings | 35.32 Bn | 35.31 Bn | 1.82 Bn | 1,146.05 |
| 7 | Royalty Pharma | 33.72 Bn | 35.84 Bn | - | 97.90 Mn |
| 8 | Alnylam Pharmaceuticals | 30.58 Bn | 27.27 Bn | 992.69 Mn | 413.13 Mn |
| 9 | Insmed | 27.01 Bn | 25.85 Bn | 358.27 Mn | 210.03 Mn |
| 10 | Xencor | 1.73 Bn | 1.36 Bn | - | 71.91 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 71.91 Mn |
| Mar 31, 2026 | 64.67 Mn |
| Dec 31, 2025 | 64.82 Mn |
| Sep 30, 2025 | 54.37 Mn |
| Jun 30, 2025 | 61.67 Mn |
| Mar 31, 2025 | 58.58 Mn |
| Dec 31, 2024 | 51.06 Mn |
| Sep 30, 2024 | 58.23 Mn |
| Jun 30, 2024 | 61.53 Mn |
| Mar 31, 2024 | 56.87 Mn |
| Dec 31, 2023 | 64.22 Mn |
| Sep 30, 2023 | 64.94 Mn |
| Jun 30, 2023 | 60.06 Mn |
| Mar 31, 2023 | 64.38 Mn |
| Dec 31, 2022 | 51.45 Mn |
| Sep 30, 2022 | 53.27 Mn |
| Jun 30, 2022 | 47.08 Mn |
| Mar 31, 2022 | 47.76 Mn |
| Dec 31, 2021 | 50.99 Mn |
| Sep 30, 2021 | 50.61 Mn |