--- title: "Genentech to end Xencor collaboration and license agreement September 4, 2026" url: "https://aibio.space/news/genentech-end-xencor-collaboration-license-agreement-september-4-2026/" publisher: "aibio.space (Biotech Investor Relations News)" date: "2026-03-09" section: "Distress" tickers: "NASDAQ:XNCR" source: "https://www.sec.gov/Archives/edgar/data/1326732/000132673226000023/xncr-20260304.htm" summary: "Genentech elected to terminate the agreement for convenience. Xencor says it expected the move." --- By the aibio.space news desk. Sources - [Xencor, Inc. 8-K (2026-03-09)](https://www.sec.gov/Archives/edgar/data/1326732/000132673226000023/xncr-20260304.htm) [XNCR](https://aibio.space/companies/xencor/) 2026-03-09 # Genentech to end Xencor collaboration and license agreement September 4, 2026 Tickers [XNCR](https://aibio.space/companies/xencor/) Genentech elected to terminate the agreement for convenience. Xencor says it expected the move. ## Key facts - **Company**: Xencor, Inc. (NASDAQ: XNCR) - **News type**: Distress - **Primary source**: [Xencor, Inc. 8-K (2026-03-09)](https://www.sec.gov/Archives/edgar/data/1326732/000132673226000023/xncr-20260304.htm) *Rows of law reports on a shelf. CC0, via rawpixel. The picture shows the field, not the companies named.* ## The notice Xencor, Inc. (Nasdaq: [XNCR](https://aibio.space/companies/xencor/)) said in an 8-K dated March 9, 2026 that on March 4, 2026 it received a notice of termination from Genentech. Genentech is Genentech, Inc. and F. Hoffmann-La Roche Ltd. The notice ends the Amended and Restated Collaboration and License Agreement, effective as of June 1, 2024, in its entirety. Genentech chose to terminate for convenience, and the termination takes effect on September 4, 2026. The filing is an Item 1.02 report, the item for termination of a material definitive agreement, and it is signed by Celia Eckert, general counsel and corporate secretary. Xencor is a Delaware company based in Pasadena, California. ## The product that is going The filing says the sole active collaboration product under the agreement is efbalropendekin alfa, an engineered cytokine-Fc fusion protein. Roche said in January 2025, when it reported 2024 results, that it had removed that product from its development pipeline. Xencor says it expected the administrative termination. Xencor ended its cost-sharing development in the first half of 2024 by electing to opt out of co-development under the agreement. Genentech then took sole responsibility for all clinical, regulatory and commercial activities for certain collaboration products, including efbalropendekin alfa. Xencor therefore no longer shares development costs on those programs, and it does not run them. The 8-K does not say how much revenue the agreement produced, or what share of the company's revenue came from Genentech. It also does not say what Xencor expects to receive, if anything, when the agreement ends. ## The company's finances The XBRL data from the 10-K for 2025, filed February 25, 2026, show revenue of $125.6 million for 2025, up from $110.5 million for 2024. Research and development expense was $239.4 million in 2025 and $227.7 million in 2024. The net loss was $91.9 million in 2025, compared with $232.6 million in 2024. Cash used in operations was $135.1 million in 2025 and $202.2 million in 2024. Year-end 2024 cash and cash equivalents were $40.9 million, according to the same XBRL data. The 2025 loss is smaller than the 2024 loss, but R&D spending rose. The 8-K does not say whether the termination changes Xencor's own spending. ## The business behind the notice Xencor describes itself as a clinical-stage biopharmaceutical company that builds engineered antibody therapeutics for cancer and autoimmune diseases. It uses its protein engineering platform to design what it calls XmAb drug candidates with improved properties and multi-target mechanisms of action. The company conducts Phase 1 and Phase 2 studies across a broad portfolio, and it decides which programs to advance, partner or drop. The 10-K says three marketed medicines have been developed with Xencor's XmAb technologies. Xencor says it has aligned its portfolio to prioritize T cell-engaging bispecific antibody programs in oncology. Its clinical candidates include XmAb819 and XmAb541 for solid tumors, XmAb808, a CD28 candidate, plamotamab and XmAb657 for autoimmune diseases, and XmAb942, a TL1A antibody for inflammatory bowel diseases. XmAb412, a TL1A and IL23p19 bispecific, is expected to enter first-in-human studies during 2026. The 10-K ties further development decisions to emerging clinical data, competitive dynamics and resource considerations. ## What comes next The termination takes effect on September 4, 2026. Until then, the agreement stays in place under the notice, and the company's 8-K describes the termination as Genentech's election. The 8-K does not say what happens to rights, data or payments after that date, and it does not name any transition plan. The 8-K does not say when Xencor will report the effect on its revenue. [Report an error](https://aibio.space/reputation/#correction) ## Companies in this story XNCR Xencor, Inc. 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Cite as: aibio.space, "Genentech to end Xencor collaboration and license agreement September 4, 2026", 2026-03-09, https://aibio.space/news/genentech-end-xencor-collaboration-license-agreement-september-4-2026/