XOMA XOMA Corporation

19.78
-0.39  -2%
Previous Close 20.17
Open 20.47
52 Week Low 14.14
52 Week High 28.85
Market Cap $217,938,869
Shares 11,018,143
Float 8,174,579
Enterprise Value $204,328,944
Volume 108,604
Av. Daily Volume 37,613
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Upcoming Catalysts

Drug Stage Catalyst Date
Vicinium
Non-muscle invasive bladder cancer (NMIBC)
BLA Filing
BLA Filing
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Drug Pipeline

Drug Stage Notes
Gevokizumab
Colorectal Cancer, Gastroesophageal Cancer, Renal Cell Carcinoma
Phase 1
Phase 1
Phase 1 initiation of patient dosing announced June 13, 2019.
ACZ885 (canakinumab)
CV risk reduction
CRL
CRL
CRL announced October 18, 2018.
XOMA 213
Hyperprolactinemia
Phase 2
Phase 2
Phase 2 proof-of-concept results released April 24, 2017.

Latest News

  1. EMERYVILLE, Calif., Sept. 02, 2020 (GLOBE NEWSWIRE) -- XOMA Corporation (NASDAQ:XOMA) announced today its Chief Executive Officer, Jim Neal, will present at two upcoming investor conferences:

    • H.C. Wainwright 22nd Annual Global Investment Conference.  The presentation will take place on Monday, September 14, 2020, at 2:00 PM ET.
    • Cantor Fitzgerald Virtual Global Healthcare Conference.  The presentation will take place on Tuesday, September 15, 2020, at 4:00 PM ET. 

    Live webcasts of each presentation can be accessed by visiting the investor relations section of the Company's website at www.xoma.com.  Replays of both presentations will be available and archived on the site for 90 days after the event.

    About XOMA Corporation
    XOMA has built…

    EMERYVILLE, Calif., Sept. 02, 2020 (GLOBE NEWSWIRE) -- XOMA Corporation (NASDAQ:XOMA) announced today its Chief Executive Officer, Jim Neal, will present at two upcoming investor conferences:

    • H.C. Wainwright 22nd Annual Global Investment Conference.  The presentation will take place on Monday, September 14, 2020, at 2:00 PM ET.
    • Cantor Fitzgerald Virtual Global Healthcare Conference.  The presentation will take place on Tuesday, September 15, 2020, at 4:00 PM ET. 

    Live webcasts of each presentation can be accessed by visiting the investor relations section of the Company's website at www.xoma.com.  Replays of both presentations will be available and archived on the site for 90 days after the event.

    About XOMA Corporation

    XOMA has built a significant portfolio of products that are licensed to and being developed by other biotechnology and pharmaceutical companies.  The Company's portfolio of partner-funded programs spans multiple stages of the drug development process and across various therapeutic areas.  Many of these licenses are the result of XOMA's pioneering efforts in the discovery and development of antibody therapeutics.  The Company's royalty-aggregator business model includes acquiring additional licenses to programs with third-party funding.  For more information, visit www.xoma.com.

    Forward-Looking Statements/Explanatory Notes

    Certain statements contained in this press release are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, including statements regarding the potential of XOMA's portfolio of partnered programs and licensed technologies generating substantial milestone and royalty proceeds over time, creating additional value for the stockholders and cash sufficiency forecast.  These statements are based on assumptions that may not prove accurate, and actual results could differ materially from those anticipated due to certain risks inherent in the biotechnology industry, including those related to the fact that our product candidates subject to out-license agreements are still being developed, and our licensees may require substantial funds to continue development which may not be available; we do not know whether there will be, or will continue to be, a viable market for the products in which we have an ownership or royalty interest; if the therapeutic product candidates to which we have a royalty interest do not receive regulatory approval, our third-party licensees will not be able to market them.  Other potential risks to XOMA meeting these expectations are described in more detail in XOMA's most recent filing on Form 10-K and in other SEC filings.  Consider such risks carefully when considering XOMA's prospects.  Any forward-looking statement in this press release represents XOMA's views only as of the date of this press release and should not be relied upon as representing its views as of any subsequent date.  XOMA disclaims any obligation to update any forward-looking statement, except as required by applicable law.

    EXPLANATORY NOTE:  Any references to "portfolio" in this press release refer strictly to milestone and/or royalty rights associated with a basket of drug products in development.  Any references to "assets" in this press release refer strictly to milestone and/or royalty rights associated with individual drug products in development.  References to royalties or royalty rates strictly refer to future potential payment streams regardless of whether or not they are technically defined as royalties in the underlying contractual agreement; further, any rates referenced herein are subject to potential future contractual adjustments.

    As of the date of this press release, all assets in XOMA's milestone and royalty portfolio are investigational compounds.  Efficacy and safety have not been established.  There is no guarantee that any of these assets will become commercially available.

    Investor contact:

    Juliane Snowden

    Oratorium Group, LLC

    +1 646-438-9754

    Media contact:

    Kathy Vincent

    KV Consulting & Management

    +1 310-403-8951

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  2. EMERYVILLE, Calif., Aug. 06, 2020 (GLOBE NEWSWIRE) -- XOMA Corporation (NASDAQ:XOMA), today announced its second quarter 2020 royalty asset portfolio advancements and financial results. 

    "With a healthy cash position, a low-cost infrastructure, and a strict discipline on capital deployment, XOMA remains in a strong position to continue executing on our royalty-aggregator strategy to create near- and long-term value for shareholders. We were pleased to expand our Board of Directors with the appointment of Natasha Hernday, Senior Vice President, Corporate Development at Seattle Genetics, who brings significant expertise in sourcing and executing licensing deals, acquisitions, and partnerships that are complementary to our business model," stated…

    EMERYVILLE, Calif., Aug. 06, 2020 (GLOBE NEWSWIRE) -- XOMA Corporation (NASDAQ:XOMA), today announced its second quarter 2020 royalty asset portfolio advancements and financial results. 

    "With a healthy cash position, a low-cost infrastructure, and a strict discipline on capital deployment, XOMA remains in a strong position to continue executing on our royalty-aggregator strategy to create near- and long-term value for shareholders. We were pleased to expand our Board of Directors with the appointment of Natasha Hernday, Senior Vice President, Corporate Development at Seattle Genetics, who brings significant expertise in sourcing and executing licensing deals, acquisitions, and partnerships that are complementary to our business model," stated Jim Neal, Chief Executive Officer. "We recognize COVID-19 continues to impact clinical activities broadly across the industry, and while these challenges may affect the timing of potential milestone payments due to XOMA, they also could create opportunities for us to acquire interesting milestone and royalty assets.

    "We commend our partners for their continued focus on advancing their therapeutic candidates in the face of COVID-19-related challenges. For example, Ology Bioservices was awarded a contract from the Department of Defense to further its anti-botulinum toxin program," Mr. Neal added. "Recently, Sesen Bio announced it signed an exclusive license agreement with Qilu Pharmaceutical for the development and commercialization of Vicineum™, a locally administered fusion protein being developed for the treatment of high-risk non-muscle invasive bladder cancer (NMIBC), in Greater China." 

    Financial Results

    XOMA recorded total revenues of $0.4 million for the second quarter of 2020, compared with $1.0 million recorded for the second quarter of 2019. The decrease for the three months ended June 30, 2020, as compared to the same period in 2019, was due primarily to a $0.5 million milestone recognized under our collaboration agreement with Takeda in the second quarter of 2019.

    Research and development expenses were $0.04 million for the second quarter of 2020, compared to $0.7 million for the second quarter of 2019. The decrease for the three months ended June 30, 2020, compared to the same period in 2019, was due to a $0.5 million decrease in license fee expenses and a $0.2 million decrease in salary and related expenses.

    General and administrative ("G&A") expenses were $3.6 million for the second quarter of 2020, compared to $4.9 million for the second quarter of 2019. The decrease of $1.3 million for the three months ended June 30, 2020, as compared to the same period of 2019, was primarily due to a $0.9 million decrease in facilities costs and a $0.3 million decrease in salary and related expenses. 

    In the second quarter of 2020, G&A expenses included $0.8 million in stock-based compensation, which is a non-cash expense. The Company's net cash used in operations was $2.9 million during the second quarter of 2020.

    In the second quarter of 2020, XOMA recorded $0.5 million in total interest expense, as compared to $0.4 million in the corresponding period of 2019, both of which reflect the Company's outstanding loan balances with Silicon Valley Bank (SVB) and Novartis.

    For the quarter ended June 30, 2020, XOMA reported total other income of $0.1 million, as compared to $1.1 million in the corresponding quarter of 2019. During the three months ended June 30, 2019, the Company was party to four sublease agreements resulting in $0.8 million in sublease income. The XOMA legacy leases were terminated in December 2019; it is no longer a party to any subleases, which is reflected in the total other income reported during second quarter of 2020. 

    Net loss for the second quarter of 2020 was $3.5 million, compared to $4.1 million for the second quarter of 2019.

    On June 30, 2020, XOMA had cash and cash equivalents of $49.5 million. The Company ended December 31, 2019, with cash and cash equivalents of $56.7 million. The Company continues to believe its current cash position will be sufficient to fund XOMA's operations for multiple years.

    About XOMA Corporation

    XOMA has built a significant portfolio of products that are licensed to and being developed by other biotechnology and pharmaceutical companies. The Company's portfolio of partner-funded programs spans multiple stages of the drug development process and across various therapeutic areas. Many of these licenses are the result of XOMA's pioneering efforts in the discovery and development of antibody therapeutics. The Company's royalty-aggregator business model includes acquiring additional licenses to programs with third-party funding. For more information, visit www.xoma.com.

    Forward-Looking Statements/Explanatory Notes

    Certain statements contained in this press release are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, including statements regarding the potential of XOMA's portfolio of partnered programs and licensed technologies generating substantial milestone and royalty proceeds over time, creating additional value for the stockholders, cash sufficiency forecast, economic outlook, and potential impact of the COVID-19 pandemic. These statements are based on assumptions that may not prove accurate, and actual results could differ materially from those anticipated due to certain risks inherent in the biotechnology industry, including those related to the fact that our product candidates subject to out-license agreements are still being developed, and our licensees may require substantial funds to continue development which may not be available; we do not know whether there will be, or will continue to be, a viable market for the products in which we have an ownership or royalty interest; if the therapeutic product candidates to which we have a royalty interest do not receive regulatory approval, our third-party licensees will not be able to market them, and the impact to the global economy as a result of the COVID-19 pandemic. Other potential risks to XOMA meeting these expectations are described in more detail in XOMA's most recent filing on Form 10-K and in other SEC filings. Consider such risks carefully when considering XOMA's prospects. Any forward-looking statement in this press release represents XOMA's views only as of the date of this press release and should not be relied upon as representing its views as of any subsequent date. XOMA disclaims any obligation to update any forward- looking statement, except as required by applicable law.

    EXPLANATORY NOTE: Any references to "portfolio" in this press release refer strictly to milestone and/or royalty rights associated with a basket of drug products in development. Any references to "assets" in this press release refer strictly to milestone and/or royalty rights associated with individual drug products in development.



    XOMA CORPORATION
    CONDENSED CONSOLIDATED BALANCE SHEETS
    (in thousands, except share and per share amounts)
        
     June 30, December 31,
      2020   2019 
        
    ASSETS   
    Current assets:   
    Cash$49,491  $56,688 
    Trade and other receivables, net 411   2,933 
    Income tax receivable 1,526   - 
    Prepaid expenses and other current assets 849   352 
    Total current assets 52,277   59,973 
    Property and equipment, net 22   34 
    Operating lease right-of-use assets 436   510 
    Long-term royalty receivables 34,375   34,375 
    Equity securities 531   681 
    Other assets 215   151 
    Total assets$87,856  $95,724 
        
    LIABILITIES AND STOCKHOLDERS' EQUITY   
    Current liabilities:   
    Accounts payable$646  $614 
    Accrued and other liabilities 605   945 
    Contingent consideration under royalty purchase agreements 75   75 
    Operating lease liabilities 171   163 
    Unearned revenue recognized under units-of-revenue method 1,393   1,096 
    Contract liabilities 798   798 
    Current portion of long-term debt 7,596   5,184 
    Total current liabilities 11,284   8,875 
    Unearned revenue recognized under units-of-revenue method – long-term 14,325   15,317 
    Long-term debt 23,497   27,093 
    Long-term operating lease liabilities 320   408 
    Other liabilities – long-term 35   43 
    Total liabilities 49,461   51,736 
        
    Stockholders' equity:   
    Convertible preferred stock, $0.05 par value, 1,000,000 shares authorized, 5,003 and 6,256 shares issued and outstanding at June 30, 2020 and December 31, 2019, respectively     
    Common stock, $0.0075 par value, 277,333,332 shares authorized, 11,018,143 and 9,758,583 shares issued and outstanding at June 30, 2020 and December 31, 2019, respectively 83   73 
    Additional paid-in capital 1,240,987   1,238,299 
    Accumulated deficit (1,202,675)  (1,194,384)
    Total stockholders' equity 38,395   43,988 
        Total liabilities and stockholders' equity$87,856  $95,724 



    XOMA CORPORATION 
    CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS 
    (unaudited)

    (in thousands, except per share amounts) 
            
        
            
     Three Months Ended June 30, Six Months Ended June 30,
      2020   2019   2020   2019 
    Revenues:       
      Revenue from contracts with customers$53  $625  $553  $8,651 
      Revenue recognized under units-of-revenue method 391   337   695   442 
      Total revenues 444   962   1,248   9,093 
            
    Operating expenses:       
      Research and development 38   724   100   980 
      General and administrative 3,557   4,949   9,914   10,888 
      Total operating expenses 3,595   5,673   10,014   11,868 
            
      Loss from operations (3,151)  (4,711)  (8,766)  (2,775)
            
    Other income (expense), net:       
      Interest expense (508)  (423)  (1,050)  (852)
      Other income (expense), net 126   1,062   (1)  2,788 
    Loss before income tax (3,533)  (4,072)  (9,817)  (839)
      Income tax benefit -   -   1,526   - 
            
    Net loss and comprehensive loss$(3,533) $(4,072) $(8,291) $(839)
            
    Basic and diluted net loss per share available to common stockholders$(0.33) $(0.47) $(0.81) $(0.10)
    Weighted average shares used in computing basic and diluted net loss per share available to common stockholders 10,824   8,725   10,292   8,716 



    Investor contact:

    Juliane Snowden

    Oratorium Group, LLC

    +1 646-438-9754

    Media contact:

    Kathy Vincent

    KV Consulting & Management

    +1 310-403-8951

    Primary Logo

    View Full Article Hide Full Article
  3. EMERYVILLE, Calif., Aug. 05, 2020 (GLOBE NEWSWIRE) -- XOMA Corporation (NASDAQ:XOMA) announced today its Chief Executive Officer, Jim Neal, will present a Company business update at the Wedbush PacGrow Virtual Healthcare Conference 2020.

    The presentation will take place on Wednesday, August 12, 2020, at 3:30PM ET. The Company will live-stream Mr. Neal's presentation, which can be accessed via the investor relations section of the Company's website at www.xoma.com. An archived version of the video webcast will be available for 90 days after the event.

    About XOMA Corporation
    XOMA has built a significant portfolio of products that are licensed to and being developed by other biotechnology and pharmaceutical companies. The Company's portfolio…

    EMERYVILLE, Calif., Aug. 05, 2020 (GLOBE NEWSWIRE) -- XOMA Corporation (NASDAQ:XOMA) announced today its Chief Executive Officer, Jim Neal, will present a Company business update at the Wedbush PacGrow Virtual Healthcare Conference 2020.

    The presentation will take place on Wednesday, August 12, 2020, at 3:30PM ET. The Company will live-stream Mr. Neal's presentation, which can be accessed via the investor relations section of the Company's website at www.xoma.com. An archived version of the video webcast will be available for 90 days after the event.

    About XOMA Corporation

    XOMA has built a significant portfolio of products that are licensed to and being developed by other biotechnology and pharmaceutical companies. The Company's portfolio of partner-funded programs spans multiple stages of the drug development process and across various therapeutic areas. Many of these licenses are the result of XOMA's pioneering efforts in the discovery and development of antibody therapeutics. The Company's royalty-aggregator business model includes acquiring additional licenses to programs with third-party funding. For more information, visit www.xoma.com.

    Forward-Looking Statements/Explanatory Notes

    Certain statements contained in this press release are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, including statements regarding the potential of XOMA's portfolio of partnered programs and licensed technologies generating substantial milestone and royalty proceeds over time, creating additional value for the stockholders and cash sufficiency forecast. These statements are based on assumptions that may not prove accurate, and actual results could differ materially from those anticipated due to certain risks inherent in the biotechnology industry, including those related to the fact that our product candidates subject to out-license agreements are still being developed, and our licensees may require substantial funds to continue development which may not be available; we do not know whether there will be, or will continue to be, a viable market for the products in which we have an ownership or royalty interest; if the therapeutic product candidates to which we have a royalty interest do not receive regulatory approval, our third-party licensees will not be able to market them. Other potential risks to XOMA meeting these expectations are described in more detail in XOMA's most recent filing on Form 10-K and in other SEC filings. Consider such risks carefully when considering XOMA's prospects. Any forward-looking statement in this press release represents XOMA's views only as of the date of this press release and should not be relied upon as representing its views as of any subsequent date. XOMA disclaims any obligation to update any forward- looking statement, except as required by applicable law.

    EXPLANATORY NOTE: Any references to "portfolio" in this press release refer strictly to milestone and/or royalty rights associated with a basket of drug products in development. Any references to "assets" in this press release refer strictly to milestone and/or royalty rights associated with individual drug products in development. 

    Investor contact:

    Juliane Snowden

    Oratorium Group, LLC

    +1 646-438-9754

    Media contact:

    Kathy Vincent

    KV Consulting & Management

    +1 310-403-8951

    Primary Logo

    View Full Article Hide Full Article
  4. EMERYVILLE, Calif., July 01, 2020 (GLOBE NEWSWIRE) -- XOMA Corporation (NASDAQ:XOMA) announced today Natasha A. Hernday, Senior Vice President, Corporate Development at Seattle Genetics, Inc., has joined the Company's Board of Directors.  Ms. Hernday has 20 years of experience in corporate development and corporate strategy work and an extensive record of asset licensing, partnerships, and acquisition transactions.

    "We graciously welcome Natasha to the XOMA Board of Directors.  Natasha has had an exceptional career in corporate development, both at Seattle Genetics and at Amgen.  Her expertise in sourcing, evaluating and negotiating licensing deals, acquisitions, and partnerships are complementary to our royalty aggregator business model…

    EMERYVILLE, Calif., July 01, 2020 (GLOBE NEWSWIRE) -- XOMA Corporation (NASDAQ:XOMA) announced today Natasha A. Hernday, Senior Vice President, Corporate Development at Seattle Genetics, Inc., has joined the Company's Board of Directors.  Ms. Hernday has 20 years of experience in corporate development and corporate strategy work and an extensive record of asset licensing, partnerships, and acquisition transactions.

    "We graciously welcome Natasha to the XOMA Board of Directors.  Natasha has had an exceptional career in corporate development, both at Seattle Genetics and at Amgen.  Her expertise in sourcing, evaluating and negotiating licensing deals, acquisitions, and partnerships are complementary to our royalty aggregator business model and are expected to benefit XOMA and our stakeholders as we continue to build our royalty portfolio," said Jim Neal, Chief Executive Officer at XOMA.  

    "XOMA's royalty aggregator business model focuses heavily on business development activities within the biotech industry to benefit patients and shareholders.  These align with my personal passions and professional expertise.  I look forward to joining the XOMA Board to help the Company further its mission of advancing breakthroughs in human health through its royalty aggregation strategy," commented Ms. Hernday.

    Ms. Hernday joined Seattle Genetics in 2011 and is responsible for the Company's in-licensing, collaboration and acquisition transactions, in addition to serving as a member of the Executive Committee.  Notably, her team led the 2018 acquisition of Cascadian Therapeutics, which included TUKYSA™ (tucatinib), which received marketing approval in the U.S. and Switzerland in 2020.  Prior to joining Seattle Genetics, she spent 16 years at Amgen, initially in research, then transitioning into project management and ultimately corporate development.  Ms. Hernday has served on the Board at PDL BioPharma, Inc., since June 2019.  Ms. Hernday received her Masters in Business and Administration from Pepperdine University and her Bachelors degree in Microbiology with an emphasis on Medical Microbiology from University of California Santa Barbara. 

    About XOMA Corporation

    XOMA has built a significant portfolio of products that are licensed to and being developed by other biotechnology and pharmaceutical companies.  The Company's portfolio of partner-funded programs spans multiple stages of the drug development process and across various therapeutic areas.  Many of these licenses are the result of XOMA's pioneering efforts in the discovery and development of antibody therapeutics.  The Company's royalty-aggregator business model includes acquiring additional licenses to programs with third-party funding.  For more information, visit www.xoma.com.

    Forward-Looking Statements/Explanatory Notes

    Certain statements contained in this press release are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, including statements regarding the potential of XOMA's portfolio of partnered programs and licensed technologies generating substantial milestone and royalty proceeds over time, creating additional value for the stockholders, cash sufficiency forecast, economic outlook, and potential impact of the COVID-19 pandemic.  These statements are based on assumptions that may not prove accurate, and actual results could differ materially from those anticipated due to certain risks inherent in the biotechnology industry, including those related to the fact that our product candidates subject to out-license agreements are still being developed, and our licensees may require substantial funds to continue development which may not be available; we do not know whether there will be, or will continue to be, a viable market for the products in which we have an ownership or royalty interest; if the therapeutic product candidates to which we have a royalty interest do not receive regulatory approval, our third-party licensees will not be able to market them, and the impact to the global economy as a result of the COVID-19 pandemic.  Other potential risks to XOMA meeting these expectations are described in more detail in XOMA's most recent filing on Form 10-K and in other SEC filings.  Consider such risks carefully when considering XOMA's prospects.  Any forward-looking statement in this press release represents XOMA's views only as of the date of this press release and should not be relied upon as representing its views as of any subsequent date.  XOMA disclaims any obligation to update any forward- looking statement, except as required by applicable law.

    EXPLANATORY NOTE: Any references to "portfolio" in this press release refer strictly to milestone and/or royalty rights associated with a basket of drug products in development.  Any references to "assets" in this press release refer strictly to milestone and/or royalty rights associated with individual drug products in development.

    Investor contact:

    Juliane Snowden

    Oratorium Group, LLC

    +1 646-438-9754

    Media contact:

    Kathy Vincent

    KV Consulting & Management

    +1 310-403-8951

    Primary Logo

    View Full Article Hide Full Article
  5. EMERYVILLE, Calif., June 29, 2020 (GLOBE NEWSWIRE) -- XOMA Corporation (NASDAQ:XOMA) today announced the Company has been added to the Russell 2000® and Russell 3000® Indexes following the annual reconstitution, which took effect after the U.S. market closed on June 26, 2020.

    "We expect XOMA's addition to these Russell indexes will enhance the Company's visibility in the investment community and broaden our shareholder base," stated Jim Neal, Chief Executive Officer of XOMA. 

    The Russell 3000® Index is a market capitalization-weighted equity index that tracks the performance of the largest 3,000 U.S. stocks.  The Russell 2000® Index measures the performance of the small-cap segment of the U.S. equity market and is a subset of the Russell…

    EMERYVILLE, Calif., June 29, 2020 (GLOBE NEWSWIRE) -- XOMA Corporation (NASDAQ:XOMA) today announced the Company has been added to the Russell 2000® and Russell 3000® Indexes following the annual reconstitution, which took effect after the U.S. market closed on June 26, 2020.

    "We expect XOMA's addition to these Russell indexes will enhance the Company's visibility in the investment community and broaden our shareholder base," stated Jim Neal, Chief Executive Officer of XOMA. 

    The Russell 3000® Index is a market capitalization-weighted equity index that tracks the performance of the largest 3,000 U.S. stocks.  The Russell 2000® Index measures the performance of the small-cap segment of the U.S. equity market and is a subset of the Russell 3000® Index.  Inclusion in the Russell 2000® Index results in automatic inclusion in the appropriate growth and value style indexes.  Russell U.S. Indexes are widely used by investment managers and institutional investors as the basis for index funds and as benchmarks for investment strategies.

    About XOMA Corporation

    XOMA has built a significant portfolio of products that are licensed to and being developed by other biotechnology and pharmaceutical companies.  The Company's portfolio of partner-funded programs spans multiple stages of the drug development process and across various therapeutic areas.  Many of these licenses are the result of XOMA's pioneering efforts in the discovery and development of antibody therapeutics.  The Company's royalty-aggregator business model includes acquiring additional licenses to programs with third-party funding.  For more information, visit www.xoma.com.

    Forward-Looking Statements/Explanatory Notes

    Certain statements contained in this press release are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, including statements regarding the potential of XOMA's portfolio of partnered programs and licensed technologies generating substantial milestone and royalty proceeds over time, creating additional value for the stockholders, economic outlook, and potential impact of the COVID-19 pandemic.  These statements are based on assumptions that may not prove accurate, and actual results could differ materially from those anticipated due to certain risks inherent in the biotechnology industry, including those related to the fact that our product candidates subject to out-license agreements are still being developed, and our licensees may require substantial funds to continue development which may not be available; we do not know whether there will be, or will continue to be, a viable market for the products in which we have an ownership or royalty interest; if the therapeutic product candidates to which we have a royalty interest do not receive regulatory approval, our third-party licensees will not be able to market them, and the impact to the global economy as a result of the COVID-19 pandemic.  Other potential risks to XOMA meeting these expectations are described in more detail in XOMA's most recent filing on Form 10-K and in other SEC filings.  Consider such risks carefully when considering XOMA's prospects.  Any forward-looking statement in this press release represents XOMA's views only as of the date of this press release and should not be relied upon as representing its views as of any subsequent date.  XOMA disclaims any obligation to update any forward- looking statement, except as required by applicable law.

    EXPLANATORY NOTE: Any references to "portfolio" in this press release refer strictly to milestone and/or royalty rights associated with a basket of drug products in development.  Any references to "assets" in this press release refer strictly to milestone and/or royalty rights associated with individual drug products in development.

    Investor contact:

    Juliane Snowden

    Oratorium Group, LLC

    +1 646-438-9754

    Media contact:

    Kathy Vincent

    KV Consulting & Management

    +1 310-403-8951

    Primary Logo

    View Full Article Hide Full Article
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