Xencor Sets IPO Pricing

Monrovia, California-based Xencor has set the initial offering price for its IPO, saying in a filing Thursday morning that it will offer up 10,700,000 shares of its common stock at $7.00 per share. The company plans to trade on the NASDAQ Global Market as XNCR. The IPO price is below its initial estimated offering price, which had been between $14.00 and $16.00 per share. Xencor is backed by MedImmune Ventures, HealthCare Ventures, and John R. Stafford, III. The company develops biopharmaceuticals technology.