MONROVIA, Calif. (AP) _ Xencor Inc. (XNCR) on Thursday reported first-quarter net income of $80 million, after reporting a loss in the same period a year earlier.
On a per-share basis, the Monrovia, California-based company said it had profit of $1.38.
The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 43 cents per share.
The biotech developing antibodies for severe autoimmune/allergic diseases and cancer posted revenue of $111.9 million in the period, also exceeding Street forecasts. Three analysts surveyed by Zacks expected $60.1 million.
Xencor shares have fallen 11% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $32.31, a climb of 8% in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on XNCR at https://www.zacks.com/ap/XNCR