Xencor Inc. plans to sell 5 million common shares in an underwritten public offering.

The company plans to grant the underwriters an option to buy up to an additional 750,000 shares.

California-based Xencor plans to use the net proceeds for working capital and general corporate purposes, including for research and development expenses, general and administrative expenses, manufacturing and clinical development expenses.

Leerink Partners and Piper Jaffray & Co. are acting as joint book-running managers in the offering.