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Xencor prices common stock offering

Xencor Inc. priced an underwritten public offering of 7,300,000 common shares at $31 each.

The company expects to raise gross proceeds of about $226.3 million through the offering, which is expected to close on or about March 23, subject to customary closing conditions.

Xencor granted underwriters a 30-day overallotment option to buy up to an additional 1,095,000 shares.

The company plans to use net proceeds for working capital and general corporate purposes.

Leerink Partners and Piper Jaffray & Co. are acting as joint book-running managers for the offering, with Cantor Fitzgerald & Co., Wedbush PacGrow, Canaccord Genuity and BTIG as co-managers.

Monrovia, Calif.-based Xencor develops treatments for autoimmune diseases, asthma and allergic diseases and cancer.