XENCOR INC

Ticker: XNCR CUSIP: 98401F105 Class: Common Stock

SPHERA FUNDS MANAGEMENT LTD.'s Holding History (CIK: 0001496201)

Note: Option positions (PUT/CALL) are excluded.

Q1 2014

Shares 100,000 Value ($000) $1,173 Avg Close $10.51 Range $7.77 - $14.41

Q4 2013

Shares 148,000 Value ($000) $1,353 Avg Close $8.58 Range $5.75 - $10.90

Period	Shares	Value ($000)	Average Close	Price Range
Q1 2014	100,000	$1,173	$10.51	$7.77 - $14.41
Q4 2013	148,000	$1,353	$8.58	$5.75 - $10.90