# Xencor Inc (XNCR) MD&A by fiscal year

Verbatim Item 7 Management's Discussion and Analysis sections from Xencor Inc's 10-K filings, one page per fiscal year. Extracted from SEC filings with the same bounded parser for every year. Filer text, not grepcent analysis or investment advice.

- [FY 2025 MD&A](/company/XNCR/mda/fy2025/): filed 2026-02-25; accession 0001326732-26-000015 (https://www.sec.gov/Archives/edgar/data/1326732/000132673226000015/xncr-20251231.htm); latest 10-K
- [FY 2024 MD&A](/company/XNCR/mda/fy2024/): filed 2025-02-27; accession 0001326732-25-000029 (https://www.sec.gov/Archives/edgar/data/1326732/000132673225000029/xncr-20241231.htm)
- [FY 2023 MD&A](/company/XNCR/mda/fy2023/): filed 2024-02-29; accession 0001326732-24-000006 (https://www.sec.gov/Archives/edgar/data/1326732/000132673224000006/xncr-20231231.htm)
- [FY 2022 MD&A](/company/XNCR/mda/fy2022/): filed 2023-02-27; accession 0001628280-23-005127 (https://www.sec.gov/Archives/edgar/data/1326732/000162828023005127/xncr-20221231.htm)
- [FY 2021 MD&A](/company/XNCR/mda/fy2021/): filed 2022-02-24; accession 0001558370-22-001969 (https://www.sec.gov/Archives/edgar/data/1326732/000155837022001969/xncr-20211231x10k.htm)

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