1. EMERYVILLE, Calif., Oct. 28, 2020 (GLOBE NEWSWIRE) -- XOMA Corporation (NASDAQ:XOMA) announced today NIS793, an anti-TGFβ monoclonal antibody licensed from XOMA, has advanced to the Phase 2 development stage, triggering a $25 million milestone payment from Novartis.  The Phase 2 trial (NCT04390763) is designed to assess the efficacy and safety of NIS793 in first-line metastatic pancreatic ductal adenocarcinoma (mPDAC).

    "We applaud Novartis for initiating its first Phase 2 study with NIS793 to focus on patients who have one of the highest needs for new treatment options – pancreatic cancer.  We are grateful to the patients and their families who have agreed to participate in the NIS793 clinical trials," stated Jim Neal, Chief Executive Officer…

    EMERYVILLE, Calif., Oct. 28, 2020 (GLOBE NEWSWIRE) -- XOMA Corporation (NASDAQ:XOMA) announced today NIS793, an anti-TGFβ monoclonal antibody licensed from XOMA, has advanced to the Phase 2 development stage, triggering a $25 million milestone payment from Novartis.  The Phase 2 trial (NCT04390763) is designed to assess the efficacy and safety of NIS793 in first-line metastatic pancreatic ductal adenocarcinoma (mPDAC).

    "We applaud Novartis for initiating its first Phase 2 study with NIS793 to focus on patients who have one of the highest needs for new treatment options – pancreatic cancer.  We are grateful to the patients and their families who have agreed to participate in the NIS793 clinical trials," stated Jim Neal, Chief Executive Officer of XOMA.  "This milestone payment further strengthens XOMA's financial resources as we pursue our royalty aggregation strategy and reduces our Novartis debt obligation to less than $10 million.  Importantly, this marks a meaningful clinical advancement of this important asset in our overall portfolio of potential milestones and royalties."

    More information about the NIS793 Phase 2 clinical study, officially titled "A Phase II, Open Label, Randomized, Parallel Arm Study of NIS793 (With and Without Spartalizumab) in Combination With SOC Chemotherapy Gemcitabine/Nab-paclitaxel, and Gemcitabine/Nab-paclitaxel Alone in First-line Metastatic Pancreatic Ductal Adenocarcinoma (mPDAC)," can be found at ClinicalTrials.gov.

    As specified under the terms the agreements between XOMA and Novartis, approximately 30 percent of the NIS793 milestone will be applied as a partial payment towards XOMA's debt obligation to Novartis, and the remaining balance will be paid in cash to XOMA.

    Under the terms of the 2015 anti-TGFβ development and commercialization agreement with Novartis, XOMA has the potential to earn up to $445 million in additional milestone payments.  Upon receipt of regulatory approval to commercialize NIS793, XOMA will receive tiered royalties on any net product sales that range from the mid-single digits to the low double digits.

    NIS793 is an investigational compound.  Efficacy and safety have not been established.  There is no guarantee that NIS793 will become commercially available.

    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 XOMA's anticipated receipt of a $25 million milestone payment from Novartis, the potential to receive additional milestones and royalties from Novartis, and the potential of XOMA's portfolio of partnered programs and licensed technologies generating additional substantial milestone and royalty proceeds over time, creating additional value for the stockholders. 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.  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.

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    Juliane Snowden

    Oratorium Group, LLC

    +1 646-438-9754

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    KV Consulting & Management

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    • Rezolute's recent private placement triggers $1.4 million payment to XOMA
    • In an unrelated development, a partner initiated Phase 2 development of an undisclosed asset, which triggers $0.5 million milestone payment to XOMA

    EMERYVILLE, Calif., Oct. 14, 2020 (GLOBE NEWSWIRE) -- XOMA Corporation (NASDAQ:XOMA) ("XOMA" or the "Company") today announced it has earned $1.9 million in payments from two partners. The Company earned $1.4 million in accelerated payments from Rezolute, Inc., in connection with its recent private placement to continue advancing RZ358 for congenital hyperinsulinism ("CHI") and RZ402 for diabetic macular edema ("DME") in clinical development. Additionally, in a separate development, XOMA has been notified by a partner that…

    • Rezolute's recent private placement triggers $1.4 million payment to XOMA
    • In an unrelated development, a partner initiated Phase 2 development of an undisclosed asset, which triggers $0.5 million milestone payment to XOMA

    EMERYVILLE, Calif., Oct. 14, 2020 (GLOBE NEWSWIRE) -- XOMA Corporation (NASDAQ:XOMA) ("XOMA" or the "Company") today announced it has earned $1.9 million in payments from two partners. The Company earned $1.4 million in accelerated payments from Rezolute, Inc., in connection with its recent private placement to continue advancing RZ358 for congenital hyperinsulinism ("CHI") and RZ402 for diabetic macular edema ("DME") in clinical development. Additionally, in a separate development, XOMA has been notified by a partner that the partner has advanced an undisclosed asset in XOMA's milestone and royalty portfolio into Phase 2 clinical development, triggering a $0.5 million milestone payment.  

    "We congratulate Rezolute on attracting high-caliber investors in its recent private placement. Having conducted the early stage studies for RZ358 we were able to get to know the CHI community, the patients, and their families. We know the medical community needs approved treatment options to help families and patients manage this devastating condition. We are very pleased Rezolute has secured this capital to invest in the next stage of clinical development of RZ358 as a potential therapeutic option for CHI patients," stated Jim Neal, Chief Executive Officer at XOMA. "In addition, it is gratifying to see our monetization strategy continue to mature and produce milestone events like the Phase 2 advancement on the undisclosed partner molecule."

    About XOMA Corporation

    XOMA has built a significant portfolio of products that are licensed to and being developed by other biotech 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 milestone and royalty rights associated with drug development programs with third-party funding. For more information, visit www.xoma.com.

    Safe Harbor Statement

    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. 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 this date, all assets in XOMA's portfolio are investigational compounds. There can be no assurance these compounds will be approved by the regulatory authorities and commercially available.

    Investor contact:

    Juliane Snowden

    Oratorium Group, LLC

    +1 646-438-9754

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    KV Consulting & Management

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  2. 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

    js

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    KV Consulting & Management

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  3. 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

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  4. 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

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  5. 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

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  6. 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
  7. EMERYVILLE, Calif., May 05, 2020 (GLOBE NEWSWIRE) -- XOMA Corporation (NASDAQ:XOMA) reported its first quarter 2020 financial results and provided a COVID-19 business update.

    "Our first priority is to ensure the safety and well-being of our employees, our consultants, and our partners during the global COVID-19 pandemic.  Our small team has been set up from Day One of XOMA's strategic pivot to be fully capable of working remotely from anywhere around the globe, and we have maintained business continuity during the shelter-in-place directives.  I am proud of the team and every member's dedication to our mission of funding tomorrow's therapeutic breakthroughs by acquiring the future potential milestone and royalty revenues associated with clinical-stage…

    EMERYVILLE, Calif., May 05, 2020 (GLOBE NEWSWIRE) -- XOMA Corporation (NASDAQ:XOMA) reported its first quarter 2020 financial results and provided a COVID-19 business update.

    "Our first priority is to ensure the safety and well-being of our employees, our consultants, and our partners during the global COVID-19 pandemic.  Our small team has been set up from Day One of XOMA's strategic pivot to be fully capable of working remotely from anywhere around the globe, and we have maintained business continuity during the shelter-in-place directives.  I am proud of the team and every member's dedication to our mission of funding tomorrow's therapeutic breakthroughs by acquiring the future potential milestone and royalty revenues associated with clinical-stage partnered assets," stated Jim Neal, Chief Executive Officer of XOMA. 

    "Today's challenging capital market dynamics are expected to provide us with additional and more diverse acquisition opportunities to build our milestone and royalty portfolio.  With more than $53 million in cash at the end of the first quarter, our low-cost infrastructure, and a strict discipline on capital deployment, we are in a healthy financial position.  We recognize the challenges that COVID-19 is having on our partners as they enroll and conduct clinical trials, and these challenges may impact the timing of receipt of potential milestone payments, including payments we anticipated from Rezolute, Inc.  In order to preserve cash, we have identified certain non-core expenses that we can defer or eliminate to further extend our cash runway.

    "In the meantime, our partners remain committed to their missions of providing new therapies to patients in need.  For example, at the end of March, Compugen dosed the first patient in its Phase 1 clinical trial studying COM902, an immune-oncology therapeutic antibody targeting TIGIT, in patients with advanced malignancies.  Earlier in March, we announced a license agreement with Zydus that we anticipate could lead to a novel IL-2 antibody based immuno-oncology therapy for cancer patients.  We remain positive as non-COVID-19 medical advances are happening across the healthcare industry, and XOMA will continue to play a role in improving human health," Mr. Neal concluded.

    Financial Results
    XOMA recorded total revenues of $0.8 million for the first quarter of 2020, compared to $8.1 million for the first quarter of 2019.  The decrease for the three months ended March 31, 2020, as compared to the same period in 2019, was primarily due to $8.0 million of license fee revenue recognized in the first quarter of 2019 under our license agreement with Rezolute.

    Research and development expenses were $0.1 million for the first quarter of 2020, compared to $0.3 million for the first quarter of 2019.  The decrease for the three months ended March 31, 2020, compared to the same period in 2019, was due to a $0.2 million decrease in salary and related expenses.

    General and administrative ("G&A") expenses were $6.4 million for the first quarter of 2020, compared to $5.9 million for the first quarter of 2019.  The increase of $0.5 million for the three months ended March 31, 2020, as compared to the same period of 2019, was primarily due to $1.4 million recognized in bad debt expense and an increase of $0.3 million in professional fees, partially offset by a decrease of $1.2 million in facilities costs due to the early termination of our legacy leases in Berkeley, California, in December 2019.  

    In the first quarter of 2020, G&A expenses included $1.8 million in stock-based compensation and $1.4 million in bad debt expense, which are non-cash expenses.  The Company's net cash used in operations was $2.3 million during the first quarter of 2020.

    In the first 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 and Novartis.  

    For the quarter ended March 31, 2020, XOMA recorded total other expense, net of $0.1 million.  For the quarter ended March 31, 2019, XOMA reported total other income, net of $1.7 million, which included sublease income of $0.8 million and a change in the fair value of the long-term equity securities held by the Company of $0.7 million.  As a result of the early termination of XOMA's legacy leases in December 2019, it is no longer a party to any subleases, which is reflected in the total other expenses reported during first quarter of 2020.   

    Net loss for the first quarter of 2020 was $4.8 million, compared to net income of $3.2 million for the first quarter of 2019.  The net income for the first quarter of 2019 was due primarily to the revenue recognized in 2019 as previously discussed.

    On March 31, 2020, XOMA had cash of $53.3 million.  The Company ended December 31, 2019, with cash 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 STATEMENTS OF OPERATIONS AND COMPREHENSIVE (LOSS) INCOME
    (unaudited)
    (in thousands, except per share amounts)
           
      Three Months Ended March 31,
        2020       2019  
    Revenues:      
    Revenue from contracts with customers $ 500     $ 8,026  
    Revenue recognized under units-of-revenue method   304       105  
    Total revenues   804       8,131  
           
    Operating expenses:      
    Research and development   62       256  
    General and administrative   6,358       5,939  
    Total operating expenses   6,420       6,195  
           
    (Loss) income from operations   (5,616 )     1,936  
           
    Other (expense) income, net:      
    Interest expense   (542 )     (429 )
    Other (expense) income, net   (126 )     1,726  
    (Loss) income before income tax   (6,284 )     3,233  
    Income tax benefit   1,526       -  
           
    Net (loss) income and comprehensive (loss) income $ (4,758 )   $ 3,233  
           
    Net (loss) income and comprehensive (loss) income available to common stockholders, basic $ (4,758 )   $ 1,881  
    Net (loss) income and comprehensive (loss) income available to common stockholders, diluted $ (4,758 )   $ 1,935  
    Basic net (loss) income per share available to common stockholders $ (0.49 )   $ 0.22  
    Diluted net (loss) income per share available to common stockholders $ (0.49 )   $ 0.21  
    Weighted average shares used in computing basic net (loss) income per share available to common stockholders   9,761       8,706  
    Weighted average shares used in computing diluted net (loss) income per share available to common stockholders   9,761       9,324  
           



     
    XOMA CORPORATION
    CONDENSED CONSOLIDATED BALANCE SHEETS
    (unaudited)
    (in thousands, except share and per share amounts)
             
        March 31,   December 31,
          2020       2019  
             
    ASSETS        
    Current assets:        
    Cash   $ 53,312     $ 56,688  
    Trade and other receivables, net     1,312       2,933  
    Income tax receivable     1,526       -  
    Prepaid expenses and other current assets     205       352  
    Total current assets     56,355       59,973  
    Property and equipment, net     28       34  
    Operating lease right-of-use assets     473       510  
    Long-term royalty receivables     34,375       34,375  
    Equity securities     408       681  
    Other assets     151       151  
    Total assets   $ 91,790     $ 95,724  
             
    LIABILITIES AND STOCKHOLDERS' EQUITY        
    Current liabilities:        
    Accounts payable   $ 717     $ 614  
    Accrued and other liabilities     709       945  
    Contingent consideration under royalty purchase agreements     75       75  
    Operating lease liabilities     167       163  
    Unearned revenue recognized under units-of-revenue method     1,267       1,096  
    Contract liabilities     798       798  
    Current portion of long-term debt     6,390       5,184  
    Total current liabilities     10,123       8,875  
    Unearned revenue recognized under units-of-revenue method – long-term     14,842       15,317  
    Long-term debt     25,141       27,093  
    Long-term operating lease liabilities     365       408  
    Other liabilities – long-term     200       43  
    Total liabilities     50,671       51,736  
             
    Stockholders' equity:        
    Convertible preferred stock, $0.05 par value, 1,000,000 shares authorized, 6,256 shares issued and outstanding at March 31, 2020 and December 31, 2019            
    Common stock, $0.0075 par value, 277,333,332 shares authorized, 9,761,901 and 9,758,583 shares issued and outstanding at March 31, 2020 and December 31, 2019, respectively     73       73  
    Additional paid-in capital     1,240,188       1,238,299  
    Accumulated deficit     (1,199,142 )     (1,194,384 )
    Total stockholders' equity     41,119       43,988  
          Total liabilities and stockholders' equity   $ 91,790     $ 95,724  
             


    Investor contact:
    Juliane Snowden
    Oratorium Group, LLC
    +1 646-438-9754

    Media contact:
    Kathy Vincent
    KV Consulting & Management
    +1 310-403-8951

    Primary Logo

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  8. Added more than 20 new partner-funded programs in 2019 with potential for milestone and royalty payments 
    Received $15.8 million from partners during the year 
    Current cash balance sufficient to fund operations for multiple years

    EMERYVILLE, Calif., March 10, 2020 (GLOBE NEWSWIRE) -- XOMA Corporation (NASDAQ:XOMA) announced its fourth quarter and full-year 2019 financial results and business highlights.

    "2019 was a tremendous year for XOMA.  We added 20 new assets to our royalty license portfolio, eleven of which are clinical-stage candidates.  One of our licensees, Janssen Biotech, conducted a portfolio review and identified multiple compounds that were born from an agreement between our companies.  As we are constructing XOMA's portfolio to…

    Added more than 20 new partner-funded programs in 2019 with potential for milestone and royalty payments 
    Received $15.8 million from partners during the year 
    Current cash balance sufficient to fund operations for multiple years

    EMERYVILLE, Calif., March 10, 2020 (GLOBE NEWSWIRE) -- XOMA Corporation (NASDAQ:XOMA) announced its fourth quarter and full-year 2019 financial results and business highlights.

    "2019 was a tremendous year for XOMA.  We added 20 new assets to our royalty license portfolio, eleven of which are clinical-stage candidates.  One of our licensees, Janssen Biotech, conducted a portfolio review and identified multiple compounds that were born from an agreement between our companies.  As we are constructing XOMA's portfolio to generate royalty candidates over an extended time horizon, we acquired interests in two exciting platform technologies that we believe will produce multiple clinical candidates to further increase our royalty license portfolio.  We entered 2020 with a royalty-potential portfolio of more than 65 partner-funded assets," stated Jim Neal, Chief Executive Officer at XOMA.  "Our business model has the potential to generate significant revenue from milestone payments and royalties.  In 2019, we received $15.8 million from our partners.  Given our royalty acquisition achievements over the last three years and the opportunities before us, we raised an additional $22 million in a rights offering at the end of the year.  We anticipate we will deploy this capital to continue building XOMA's royalty-interest and milestone-bearing portfolio." 

    Business Highlights
    XOMA completed four milestone and royalty acquisition transactions in 2019 that added eleven new potential royalty-bearing assets and interests in two platform technologies to the Company's portfolio. 

    • Acquired a milestone and royalty interest in two Bayer assets, one Bayer option, and two unpartnered candidates from Aronora.
    • Acquired a royalty interest in one Novartis asset and five clinical-stage assets from Palobiofarma.
    • Acquired royalty interest in platform technologies being developed at Bioasis Technologies and Sonnet BioTherapeutics.
    • Added nine Janssen Biotech assets to XOMA's royalty portfolio.
    • Received $15.8 million from partners during 2019.
    • Completed a $22 million rights offering with XOMA stockholders including BVF Partners, LP.

    2019 Updates About Partnered Assets in Development
    "Last year two of our partners, Novartis and Sesen Bio, announced significant clinical developments that have the potential to offer patients with few treatment options the opportunity to access new therapies that have clinically meaningful benefits," Mr. Neal continued.

    Novartis-licensed assets:

    • Novartis presented first-of-its-kind histology data with iscalimab (CFZ533)1 at the American Transplant Congress.  The data showed 60 percent of iscalimab-treated transplant patients have normal kidney histology at least one year after transplant, compared with 0 percent with tacrolimus (current standard of care)2.  The company highlighted iscalimab and its development plans at the Novartis R&D Day on December 5, 2019.  Novartis now has seven clinical studies with iscalimab underway.
    • Novartis launched its clinical program for gevokizumab (VPM087) (anti-IL1β allosteric modulator monoclonal antibody) 3 with a clinical study in patients with metastatic colorectal cancer, gastroesophageal cancer, and renal cell carcinoma.

    Sesen Bio reported positive top-line Phase 3 data and subsequently initiated its rolling Biologics License Application (BLA) filing for Vicinium® for the treatment of BCG-unresponsive non-muscle invasive bladder cancer (NMIBC)4.  The company has stated it anticipates completing its filing in the second half of 2020.

    Takeda-licensed assets:

    • Takeda expanded the TAK-0794 clinical program and now has four studies ongoing.
    • Takeda and Molecular Templates began enrolling patients in their first TAK-1694 clinical program.

    Aronora initiated a Phase 2 study with AB002 (E-WE thrombin)4 in patients with end-stage renal disease on chronic hemodialysis.

    AVEO Oncology expanded the clinical program testing ficlatuzumab (AV-299)4 and now is studying the compound's potential efficacy in a wide variety of oncology indications. 

    Mr. Neal concluded, "The clinical advancements continued into 2020.  In February, Rezolute, Inc., announced the launch of its Phase 2b clinical trial for RZ358 (formerly XOMA 358) in patients with congenital hyperinsulinism (CHI).  Given the insight we gained into this terrible condition during our early development of this compound and the extraordinary families we met, we are truly hopeful Rezolute succeeds in its development efforts for RZ358."

    Financial Results
    XOMA recorded total revenues of $0.4 million for the fourth quarter of 2019, compared to $1.7 million for the fourth quarter of 2018.  For the full year of 2019, XOMA recorded revenues of $18.4 million, compared to $5.3 million for the full year of 2018.  Revenues for the full year of 2019 reflect $14.0 million recognized under the Company's license agreement and common stock purchase agreement with Rezolute and $2.5 million in revenue earned from a one-time payment under XOMA's license agreement with Janssen.  Revenues for the full year of 2018 include $1.8 million recognized under the license agreement and common stock purchase agreement with Rezolute, $1.4 million in milestone revenue earned under XOMA's license agreement with Janssen, and $0.8 million in milestone revenue earned under XOMA's license agreement with Compugen. 

    Research and development (R&D) expenses were $0.1 million for the fourth quarter of 2019, compared to $0.2 million for the fourth quarter of 2018.  Research & development expenses for the full year of 2019 were $1.3 million, compared to $1.7 million for the same period in 2018.  The decrease of $0.4 million in 2019, as compared with 2018, was primarily due to a reduction in headcount of R&D employees.

    General and administrative expenses were $4.3 million for the fourth quarter of 2019, compared to $4.3 million for the fourth quarter of 2018.  General & administrative expenses were $21.0 million for the full year of 2019, compared to $18.6 million for the full year of 2018.  The increase of $2.4 million in 2019 as compared with 2018 was primarily due to a $0.9 million increase for expenses incurred in connection with a separation agreement with our Chief Business Officer, which included $0.5 million in stock-based compensation expense for modifications to vested stock options and $0.4 million in separation benefits, an increase of $0.7 million in stock-based compensation excluding the option modifications, a $0.6 million increase in common area maintenance charges related to our legacy leases, and a $0.4 million increase in expenses related to investor communications.

    Interest expense for the fourth quarter of 2019 was $0.6 million, as compared to $0.4 million for the fourth quarter of 2018.  For the full year of 2019, interest expense was $1.9 million, compared with $0.9 million reported in the full year of 2018.  The increase in 2019 is primarily due to the increase in the outstanding loan balance with Silicon Valley Bank due to the Company's borrowing activities related to the royalty purchase agreements with Aronora and Palobiofarma.

    Other income, net was $0.3 million for the fourth quarter of 2019, compared to $0.7 million for the corresponding quarter of 2018.  Total other income, net was $3.8 million for the full year of 2019, compared to $4.3 million for the corresponding period of 2018.  The decrease in the full year of 2019 when compared to the full year of 2018 primarily reflects the discontinuation of income under the Ology Bioservices agreement of $2.5 million and a loss of $0.4 million recognized due to the early termination of our legacy building leases, partially offset by the increase in sublease income of $1.2 million and the change in fair value adjustment of Rezolute common stock of $0.9 million.  

    Net loss for the fourth quarter of 2019 was $4.3 million, compared to net loss of $3.0 million for the fourth quarter of 2018.  Net loss for the full year of 2019 was $2.0 million, compared to net loss of $13.3 million for the full year of 2018. 

    On December 31, 2019, XOMA had cash of $56.7 million compared with $45.8 million on December 31, 2018.  The Company's current cash position is expected to be sufficient to fund its 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 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. 

    1. Iscalimab is an investigational compound.  Efficacy and safety have not been established.  There is no guarantee that iscalimab will become commercially available.
    2. Farkash E, et al. Cni-free Therapy With Iscalimab (anti-cd40 Mab) Preserves Allograft Histology Compared To Standard Of Care After Kidney Transplantation.  Iscalimab is an investigational compound.  Efficacy and safety have not been established.  There is no guarantee that iscalimab will become commercially available.  Presented at the American Transplant Congress, June 2019.
    3. Gevokizumab is an investigational compound.  Efficacy and safety have not been established.  There is no guarantee that gevokizumab will become commercially available.
    4. This is an investigational compound, and there is no guarantee it will become commercially available.
    XOMA CORPORATION
    CONDENSED CONSOLIDATED BALANCE SHEETS
    (unaudited)
    (in thousands, except share and per share amounts)
           
      December 31,   December 31,
      2019
      2018
           
    ASSETS      
    Current assets:      
    Cash $ 56,688     $ 45,780  
    Trade and other receivables   2,933       1,468  
    Prepaid expenses and other current assets   352       378  
    Total current assets   59,973       47,626  
    Property and equipment, net   34       59  
    Operating lease right-of-use assets   510        
    Long-term royalty receivables   34,375       15,000  
    Equity securities   681       392  
    Other assets   151       708  
    Total assets $ 95,724     $ 63,785  
           
    LIABILITIES AND STOCKHOLDERS' EQUITY      
    Current liabilities:      
    Accounts payable $ 614     $ 1,244  
    Accrued and other liabilities   945       2,382  
    Contingent consideration under royalty purchase agreements   75        
    Operating lease liabilities   163        
    Unearned revenue recognized under units-of-revenue method   1,096       490  
    Contract liabilities   798       798  
    Current portion of long-term debt   5,184       789  
    Total current liabilities   8,875       5,703  
    Unearned revenue recognized under units-of-revenue method – long-term   15,317       17,017  
    Long-term debt   27,093       21,690  
    Long-term operating lease liabilities   408        
    Other liabilities – long-term   43       590  
    Total liabilities   51,736       45,000  
           
    Stockholders' equity:      
    Convertible preferred stock, $0.05 par value, 1,000,000 shares authorized, 6,256 shares issued and outstanding at December 31, 2019 and December 31, 2018          
    Common stock, $0.0075 par value, 277,333,332 shares authorized, 9,758,583 and 8,690,723 shares issued and outstanding at December 31, 2019 and December 31, 2018, respectively   73       65  
    Additional paid-in capital   1,238,299       1,211,122  
    Accumulated deficit   (1,194,384 )     (1,192,402 )
    Total stockholders' equity   43,988       18,785  
    Total liabilities and stockholders' equity $ 95,724     $ 63,785  
           


    XOMA CORPORATION
    CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS
    (unaudited)
    (in thousands)
                   
               
                   
      Three Months Ended December 31,   Year Ended December 31,
      2019
      2018
      2019
      2018
    Revenues:              
    Revenue from contracts with customers $ 100     $ 1,550     $ 17,276     $ 5,068  
    Revenue recognized under units-of-revenue method   323       135       1,094       231  
    Total revenues   423       1,685       18,370       5,299  
                   
    Operating expenses:              
    Research and development   130       237       1,253       1,682  
    General and administrative   4,293       4,327       21,002       18,563  
    Restructuring   -       543       -       1,911  
    Total operating expenses   4,423       5,107       22,255       22,156  
                   
    Loss from operations   (4,000 )     (3,422 )     (3,885 )     (16,857 )
                   
    Other income (expense), net:              
    Interest expense   (583 )     (365 )     (1,919 )     (922 )
    Other income, net   262       677       3,822       4,338  
    Loss before income tax $ (4,321 )   $ (3,110 )   $ (1,982 )   $ (13,441 )
    Income tax benefit   -       98       -       98  
    Net loss and comprehensive loss $ (4,321 )   $ (3,012 )   $ (1,982 )   $ (13,343 )
    Basic and diluted net loss per share available to common stockholders $ (0.49 )   $ (0.35 )   $ (0.23 )   $ (1.59 )
    Weighted average shares used in computing basic and diluted net loss per share available to common stochholders   8,886       8,430       8,763       8,373  
                   

    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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  9. AHMEDABAD, India and EMERYVILLE, Calif., March 09, 2020 (GLOBE NEWSWIRE) -- Zydus Cadila, an innovation-driven global pharmaceutical company, and XOMA Corporation (NASDAQ:XOMA) today announced they have entered into a licensing agreement to advance an IL-2-based immuno-oncology (IO) drug candidate that combines Zydus' IL-2 with XOMA's novel anti-IL-2 monoclonal antibody.

    As part of the agreement, Zydus will advance the new IO candidate through formal clinical trials. Zydus has been granted exclusive rights to develop and commercialize the therapy in India, Brazil, Mexico and other emerging markets, and XOMA has the potential to receive single-to double-digit royalties on commercial sales in those territories.  XOMA retains rights in all other…

    AHMEDABAD, India and EMERYVILLE, Calif., March 09, 2020 (GLOBE NEWSWIRE) -- Zydus Cadila, an innovation-driven global pharmaceutical company, and XOMA Corporation (NASDAQ:XOMA) today announced they have entered into a licensing agreement to advance an IL-2-based immuno-oncology (IO) drug candidate that combines Zydus' IL-2 with XOMA's novel anti-IL-2 monoclonal antibody.

    As part of the agreement, Zydus will advance the new IO candidate through formal clinical trials. Zydus has been granted exclusive rights to develop and commercialize the therapy in India, Brazil, Mexico and other emerging markets, and XOMA has the potential to receive single-to double-digit royalties on commercial sales in those territories.  XOMA retains rights in all other territories (i.e., XOMA territory). Through this collaboration, Zydus will develop the new IO drug candidate through human proof-of-concept and each company has the potential to receive pre-defined shares of future proceeds that may arise from licensing and commercialization activities.

    Speaking about the development, Managing Director of the Zydus group, Dr. Sharvil Patel said, "IL-2 will be the backbone of IO-based therapies for cancer treatment in the future. In this win-win agreement, we see a great strategic fit between our IL-2 and XOMA's anti-IL-2 monoclonal antibody as together they have the potential to provide a safe and efficacious medicine to address the unmet needs of patients living with cancer."

    Jim Neal, Chief Executive Officer at XOMA commented, "IL-2 has long been recognized as an effective anti-tumor agent, but its utility has been limited by its toxicity. XOMA has developed unique, fully human antibodies that promote IL-2 action specifically to the cytotoxic effector immune cell populations relevant for anti-tumor activity while simultaneously limiting the unwanted stimulation of immunosuppressive T cells, thereby minimizing its undesired side effects. This IL-2 and monoclonal antibody combination has the potential to turn the immune system against the cancer cells, and Zydus is an ideal partner to advance this combination through clinical development." 

    About Zydus
    Zydus Cadila is an innovative, global pharmaceutical company that discovers, develops, manufactures and markets a broad range of healthcare therapies, including small molecule drugs, biologic therapeutics, and vaccines. Over the last several years, Zydus Biologics has developed significant capabilities in non-clinical, clinical development, scale-up, and manufacturing biologicals, having successfully developed a portfolio of 30+ biologics, with 12 biologics receiving marketing authorization.

    The group employs nearly 25,000 people worldwide, including 1,400 scientists engaged in R & D, and is dedicated to creating healthier communities globally. www.zyduscadila.com

    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.

    XOMA Corporation 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 and creating additional value for the stockholders.  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.

    For Zydus
    Sujatha Rajesh
    Zydus Cadila
    +919974051180

    For XOMA

    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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  10. EMERYVILLE, Calif., Feb. 25, 2020 (GLOBE NEWSWIRE) -- XOMA Corporation (NASDAQ:XOMA) announced today its Chief Executive Officer, Jim Neal, will present an update about the Company's business at the Cowen and Company 40th Annual Health Care Conference in Boston, Massachusetts.  The presentation will take place on Tuesday, March 3, 2020, at 11:20AM ET, and can be accessed via a live webcast on the investor relations page of XOMA's website at www.xoma.com.  An archived version of the 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…

    EMERYVILLE, Calif., Feb. 25, 2020 (GLOBE NEWSWIRE) -- XOMA Corporation (NASDAQ:XOMA) announced today its Chief Executive Officer, Jim Neal, will present an update about the Company's business at the Cowen and Company 40th Annual Health Care Conference in Boston, Massachusetts.  The presentation will take place on Tuesday, March 3, 2020, at 11:20AM ET, and can be accessed via a live webcast on the investor relations page of XOMA's website at www.xoma.com.  An archived version of the 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

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  11. EMERYVILLE, Calif., Dec. 20, 2019 (GLOBE NEWSWIRE) -- XOMA Corporation (NASDAQ:XOMA) ("XOMA" or the "Company") today announced the closing of its previously announced rights offering (the "Rights Offering").  At the closing, XOMA sold and issued an aggregate of 626,805 shares of its common stock (the "Common Stock") pursuant to the exercise of subscriptions in the Rights Offering from its existing stockholders.  In addition, BVF Partners L.P., a stockholder of the Company, purchased an additional 373,195 shares of Common Stock pursuant to the exercise of its oversubscription rights.  Combined, the Company sold and issued an aggregate of 1,000,000 shares of Common Stock for aggregate gross proceeds of $22 million.

    The Rights Offering was made…

    EMERYVILLE, Calif., Dec. 20, 2019 (GLOBE NEWSWIRE) -- XOMA Corporation (NASDAQ:XOMA) ("XOMA" or the "Company") today announced the closing of its previously announced rights offering (the "Rights Offering").  At the closing, XOMA sold and issued an aggregate of 626,805 shares of its common stock (the "Common Stock") pursuant to the exercise of subscriptions in the Rights Offering from its existing stockholders.  In addition, BVF Partners L.P., a stockholder of the Company, purchased an additional 373,195 shares of Common Stock pursuant to the exercise of its oversubscription rights.  Combined, the Company sold and issued an aggregate of 1,000,000 shares of Common Stock for aggregate gross proceeds of $22 million.

    The Rights Offering was made pursuant to the Company's effective shelf registration statement on file with the Securities and Exchange Commission (the "SEC") and a prospectus supplement and accompanying prospectus filed with the SEC on December 2, 2019.

    About XOMA Corporation
    XOMA has built a significant portfolio of products that are licensed to and being developed by other biotech 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 milestone and royalty rights associated with drug development programs with third-party funding.  For more information, visit www.xoma.com.

    Safe Harbor Statement
    This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.  "Forward-looking statements" describe future expectations, plans, results or strategies and are generally preceded by words such as "anticipates," "expect," "may," "plan" or "will".  You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events or results to differ materially from those projected in the forward-looking statements.  These and other risks are identified in our filings with the SEC, including without limitation our Quarterly Report on Form 10-Q for the quarter ended September 30, 2019 and in other filings subsequently made by the Company with the SEC.  All forward-looking statements contained in this press release speak only as of the date on which they were made and are based on management's assumptions and estimates as of such date.  We do not undertake any obligation to publicly update any forward-looking statements, whether as a result of the receipt of new information, the occurrence of future events or otherwise.

    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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  12. Iscalimab (CFZ533) Update

    EMERYVILLE, Calif., Dec. 05, 2019 (GLOBE NEWSWIRE) -- As part of its R&D Day on December 5, 2019, Novartis highlighted the progress that has been made on iscalimab (CFZ533), a product candidate, for which XOMA (NASDAQ:XOMA) has the potential to earn royalties that are tiered from a mid-single to a low teens percentage rate based on sales levels, if this investigational compound is approved and commercialized.  Novartis dedicated eight (8) slides to the iscalimab update.  Please find the Novartis R&D Day Presentation on the Novartis website (slide numbers 1, 2, 64-71).  Additionally, the relevant slides can be found on our website at www.xoma.com.  Iscalimab, which originated from XOMA's research collaboration with Chiron (acquired by Novartis…

    EMERYVILLE, Calif., Dec. 05, 2019 (GLOBE NEWSWIRE) -- As part of its R&D Day on December 5, 2019, Novartis highlighted the progress that has been made on iscalimab (CFZ533), a product candidate, for which XOMA (NASDAQ:XOMA) has the potential to earn royalties that are tiered from a mid-single to a low teens percentage rate based on sales levels, if this investigational compound is approved and commercialized.  Novartis dedicated eight (8) slides to the iscalimab update.  Please find the Novartis R&D Day Presentation on the Novartis website (slide numbers 1, 2, 64-71).  Additionally, the relevant slides can be found on our website at www.xoma.com.  Iscalimab, which originated from XOMA's research collaboration with Chiron (acquired by Novartis), is a fully human monoclonal antibody blocking the CD40 – CD154 signaling pathway.

    Please note:  Iscalimab (CFZ533) is an investigational compound.  There is no guarantee that iscalimab will become commercially available.

    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 and creating additional value for the stockholders.  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

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  13. EMERYVILLE, Calif., Dec. 02, 2019 (GLOBE NEWSWIRE) -- XOMA Corporation (NASDAQ:XOMA) ("XOMA" or the "Company") today announced it has commenced the previously announced rights offering to raise gross proceeds of approximately $22 million (the "Rights Offering"). Under the terms of the Rights Offering, the holders of XOMA's common stock and Series X Preferred Stock and Series Y Preferred Stock as of 5:00 p.m., New York time, on November 29, 2019, the record date for the Rights Offering, are entitled to purchase up to 1,000,000 shares of common stock in the aggregate at a subscription price equal to $22.00 per share, or under certain circumstances, shares of non-voting Series Z preferred stock in lieu of common stock (collectively, the "Offered…

    EMERYVILLE, Calif., Dec. 02, 2019 (GLOBE NEWSWIRE) -- XOMA Corporation (NASDAQ:XOMA) ("XOMA" or the "Company") today announced it has commenced the previously announced rights offering to raise gross proceeds of approximately $22 million (the "Rights Offering"). Under the terms of the Rights Offering, the holders of XOMA's common stock and Series X Preferred Stock and Series Y Preferred Stock as of 5:00 p.m., New York time, on November 29, 2019, the record date for the Rights Offering, are entitled to purchase up to 1,000,000 shares of common stock in the aggregate at a subscription price equal to $22.00 per share, or under certain circumstances, shares of non-voting Series Z preferred stock in lieu of common stock (collectively, the "Offered Shares"), as more fully described in the prospectus supplement, dated December 2, 2019, relating to the Rights Offering.

    The Rights Offering will be fully backstopped by BVF Partners L.P., the Company's largest stockholder, or its assignee(s)/transferee(s), which has agreed to purchase at a minimum its as-converted pro rata share of the offering amount, and will, in addition, purchase securities not subscribed for by the Company's other stockholders in the Rights Offering, for a total of up to $22 million. XOMA expects to use the proceeds from the Rights Offering to acquire additional potential royalty and milestone revenue streams, for working capital and other general corporate purposes.

    XOMA reserves the right to modify, extend, postpone or cancel the Rights Offering at any time prior to the closing of the sale of the shares in the Rights Offering. XOMA has engaged D.F. King & Co., Inc., to act as information agent with respect to the Rights Offering. For questions regarding the Rights Offering, or to obtain copies of the Rights Offering prospectus and any related materials, please contact D.F. King & Co. at or by telephone at +1 800-591-6313.

    XOMA has filed a shelf registration statement (including a prospectus supplement) with the Securities and Exchange Commission (the "SEC") (Reg. No. 333-223493). Before you invest, you should read the prospectus supplement and other documents XOMA has filed with the SEC for more complete information about XOMA and the Rights Offering. This announcement shall not constitute an offer to sell, or the solicitation of an offer to exercise the rights and purchase the underlying Offered Shares, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or jurisdiction.

    About XOMA Corporation
    XOMA has built a significant portfolio of products that are licensed to and being developed by other biotech 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 milestone and royalty rights associated with drug development programs with third-party funding. For more information, visit www.xoma.com.

    Safe Harbor Statement
    This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results or strategies and are generally preceded by words such as "anticipates," "expect," "may," "plan" or "will". Forward-looking statements in this release include, but are not limited to, statements regarding plans, amounts and timing for the Rights Offering and BVF Partners L.P. backstop commitment, the anticipated use of proceeds derived therefrom and expectations regarding participation in the Rights Offering. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events or results to differ materially from those projected in the forward-looking statements, including the availability of, and participation in, financing opportunities and the risk that the Rights Offering is not completed. These and other risks are identified in our filings with the Commission, including without limitation our Quarterly Report on Form 10-Q for the quarter ended September 30, 2019 and in other filings subsequently made by the Company with the Commission. All forward-looking statements contained in this press release speak only as of the date on which they were made and are based on management's assumptions and estimates as of such date. We do not undertake any obligation to publicly update any forward-looking statements, whether as a result of the receipt of new information, the occurrence of future events or otherwise.

    Investor contact:
    Juliane Snowden
    Oratorium Group, LLC
    +1 646-438-9754

    Media contact:
    Kathy Vincent
    KV Consulting & Management
    +1 310-403-8951

    Primary Logo

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    • Rights Offering will be available to all shareholders of record on November 29, 2019
    • $22 million to be raised; fully backstopped

    EMERYVILLE, Calif., Nov. 19, 2019 (GLOBE NEWSWIRE) -- XOMA Corporation (NASDAQ:XOMA) ("XOMA" or the "Company") today announced its intent to commence a rights offering pursuant to which the Company would raise approximately $22 million through the distribution of subscription rights to holders of its common stock ("Common Stock"), Series X preferred stock ("Series X Preferred") and Series Y preferred stock ("Series Y Preferred"), which will entitle the holders to purchase shares of XOMA's Common Stock at $22.00 per share (the "Rights Offering"). The Rights Offering will be fully backstopped by BVF Partners L.P…

    • Rights Offering will be available to all shareholders of record on November 29, 2019
    • $22 million to be raised; fully backstopped

    EMERYVILLE, Calif., Nov. 19, 2019 (GLOBE NEWSWIRE) -- XOMA Corporation (NASDAQ:XOMA) ("XOMA" or the "Company") today announced its intent to commence a rights offering pursuant to which the Company would raise approximately $22 million through the distribution of subscription rights to holders of its common stock ("Common Stock"), Series X preferred stock ("Series X Preferred") and Series Y preferred stock ("Series Y Preferred"), which will entitle the holders to purchase shares of XOMA's Common Stock at $22.00 per share (the "Rights Offering"). The Rights Offering will be fully backstopped by BVF Partners L.P., the Company's largest stockholder, or its assignee/transferee, which has agreed to purchase at a minimum its as-converted pro rata share of the offering amount, plus an additional amount of securities that are not subscribed for by other purchasers in the Rights Offering for a total of up to $22 million.

    Under the proposed Rights Offering, the Company plans to distribute non-transferable subscription rights to purchase a portion of a share of Common Stock for each share of Common Stock outstanding and for each share of Common Stock issuable upon conversion of the Company's outstanding shares of Series X Preferred and Series Y Preferred, at a subscription price per share of $22.00, to its stockholders of record as of the close of business on November 29, 2019 (the "Record Date").  The subscription rights will be exercisable for an aggregate of 1,000,000 shares of Common Stock, with participation to be allocated among holders of its Common Stock, Series X Preferred and Series Y Preferred on a pro rata basis (assuming full conversion of the Series X Preferred and Series Y Preferred into shares of Common Stock), subject to the aggregate offering threshold and ownership limitations.  The subscription rights are non-transferable and may be exercised only during the anticipated subscription period of Monday, December 2, 2019, through 5:00 PM EDT on Wednesday, December 18, 2019, unless extended.  Any participant in the Rights Offering that, by exercise of its subscription right would become a holder of greater than 9.9% of the outstanding number of shares of Common Stock of the Company following the Rights Offering may elect to instead purchase Series Z Preferred Stock ("Series Z Preferred") of the Company.  The Company intends to sell the Series Z Preferred at $22,000 per share, and any such holder so electing would have a right to purchase one one-thousandth of a share of Series Z Preferred for each share of Common Stock it had a right to purchase under the subscription rights.  Each share of Series Z Preferred will, subject to certain limitations, be convertible into 1,000 shares of Common Stock at the election of the holder. The Series Z Preferred will generally have no voting rights, except as required by law, and will participate pari passu, on an as-converted basis, with any distribution of proceeds to holders of Common Stock in the event of the Company's liquidation, dissolution or winding up.

    The Rights Offering will be made pursuant to the Company's effective shelf registration statement on file with the Securities and Exchange Commission and only by means of a prospectus supplement and accompanying prospectus.  The Company expects to mail subscription certificates evidencing the subscription rights and a copy of the prospectus supplement and accompanying prospectus for the Rights Offering shortly following the Record Date.

    This press release is not intended to and does not constitute an offer to sell or the solicitation of an offer to subscribe for or buy or an invitation to purchase or subscribe for any securities in any jurisdiction, nor shall there be any sale, issuance or transfer of securities in any jurisdiction in contravention of applicable law.  No offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended.

    BVF Partners L.P., the Company's largest shareholder, currently owning approximately 20.5% of the Company's outstanding Common Stock (and 53.6% on an as-converted basis), will backstop the Rights Offering and has agreed to purchase up to $22 million of Common Stock  at a subscription price per share of $22.00, subject to approval by Nasdaq, or Series Z Preferred at a price of $22,000 per share in a private placement promptly at the conclusion of the Rights Offering, with the dollar amount to be purchased in such private placement reduced by the dollar amount sold by the Company (including to BVF Partners L.P., and its affiliates) in the Rights Offering.

    About XOMA Corporation
    XOMA has built a significant portfolio of products that are licensed to and being developed by other biotech 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 milestone and royalty rights associated with drug development programs with third-party funding.  For more information, visit www.xoma.com.

    Safe Harbor Statement
    This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "anticipates," "expect," "may," "plan" or "will".  Forward-looking statements in this release include, but are not limited to, statements regarding plans, amounts and timing for the Rights Offering and the private placement to BVF Partners L.P., future financing opportunities, the anticipated use of proceeds derived therefrom and expectations regarding participation in the Rights Offering. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the availability of, and participation in, financing opportunities.  These and other risks are identified in our filings with the Commission, including without limitation our Quarterly Report on Form 10-Q for the quarter ended September 30, 2019 and in other filings subsequently made by the Company with the Commission. All forward-looking statements contained in this press release speak only as of the date on which they were made and are based on management's assumptions and estimates as of such date. We do not undertake any obligation to publicly update any forward-looking statements, whether as a result of the receipt of new information, the occurrence of future events or otherwise.

    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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  14. EMERYVILLE, Calif., Nov. 05, 2019 (GLOBE NEWSWIRE) -- XOMA Corporation (NASDAQ:XOMA) today reported its third quarter 2019 financial results. 

    "XOMA's portfolio of future potential royalty- and milestone-generating assets grew by 25% in the third quarter with the addition of 15 investigational compounds from Janssen Biotech and Palobiofarma. Since the third quarter of 2018, we have increased the number of assets in our royalty portfolio by 40%. We have firmly established XOMA as a potential source of non-dilutive, non-recourse capital among companies with partnered Phase 2 assets. We continue to assess multiple royalty monetization opportunities that could further expand and diversify our growing portfolio," said Jim Neal, Chief Executive…

    EMERYVILLE, Calif., Nov. 05, 2019 (GLOBE NEWSWIRE) -- XOMA Corporation (NASDAQ:XOMA) today reported its third quarter 2019 financial results. 

    "XOMA's portfolio of future potential royalty- and milestone-generating assets grew by 25% in the third quarter with the addition of 15 investigational compounds from Janssen Biotech and Palobiofarma. Since the third quarter of 2018, we have increased the number of assets in our royalty portfolio by 40%. We have firmly established XOMA as a potential source of non-dilutive, non-recourse capital among companies with partnered Phase 2 assets. We continue to assess multiple royalty monetization opportunities that could further expand and diversify our growing portfolio," said Jim Neal, Chief Executive Officer at XOMA.

    Recent Updates About Partnered Assets in Development
    Novartis listed on ClinicalTrials.gov a Phase 2 safety and efficacy study investigating iscalimab (CFZ533) in children and young adults recently diagnosed with Type 1 diabetes. ClincialTrials.gov Identifier: NCT04129528.

    Janssen Biotech listed a Phase 1b study on ClinicalTrials.gov investigating JNJ-64407564 in patients with multiple myeloma. ClinicalTrials.gov Identifier: NCT04108195.

    Takeda opened recruitment for its Phase 1 study to evaluate subcutaneous TAK-079 added to standard of care regimens in participants with newly diagnosed multiple myeloma. ClinicalTrials.gov Identifier: NCT03984097.

    AVEO Pharmaceuticals listed on ClinicalTrials.gov a Phase 2 study of ficlatuzumab with high-dose cytarabine (HiDAC) and HiDAC alone in adults with relapsed or refractory acute myeloid leukemia. ClinicalTrials.gov Identifier: NCT04100330.

    Business Highlights
    XOMA acquired a royalty interest in six clinical-stage assets targeting the adenosine pathway for $10.0 million from Palobiofarma S.L., including NIR178, which is being developed by Novartis as a novel checkpoint inhibitor for the treatment of solid tumors. Palobiofarma is developing the other five assets.

    The Company significantly increased its portfolio of potential future royalty and milestone payments with the addition of multiple Janssen Biotech, Inc., drug candidates for which XOMA could receive future milestone and royalty payments of 0.75% on net sales.

    As a result of Rezolute, Inc.'s successful series of fundraising rounds, XOMA received $4.9 million in milestone payments during the third quarter. During its capital raising activities in the third quarter, Rezolute communicated its intent to commence a Phase 2b study for RZ358 during 2019. 

    Financial Results
    XOMA recorded total revenues of $8.9 million for the third quarter of 2019, compared with $0.9 million in the third quarter of 2018. The increase was due to $6.0 million in revenue recognized from Rezolute and $2.5 million from Janssen Biotech, Inc., under our respective license agreements.

    Research and development expenses were $0.1 million for the third quarter of 2019, compared to $0.6 million for the third quarter of 2018. The decrease for the three months ended September 30, 2019, compared to the same period of 2018, was primarily due to a $0.3 million pass-through license fee incurred based on the achievement of a development milestone by one of our partners in the third quarter of 2018 and a $0.2 million decrease in salary and related expenses.

    General and administrative expenses were $5.8 million for the third quarter of 2019, compared to $4.7 million for the third quarter of 2018. The increase of $1.1 million for the three months ended September 30, 2019, as compared to the same period of 2018, was primarily due to executing a separation agreement with our Chief Business Officer resulting in $0.5 million in stock compensation expense associated with stock option modifications and $0.4 million in separation benefits.

    Total other income, net was $0.8 million for the third quarter of 2019, compared to $0.9 million for the third quarter of 2018. The decrease of $0.1 million was primarily due to income of $0.5 million received in 2018 from Ology Bioservices related to the disposition the Company's biodefense business in 2016, partially offset by an increase of $0.3 million in sublease income. 

    Net income for the third quarter of 2019 was $3.2 million, compared to net loss of $4.6 million for the third quarter of 2019.

    On September 30, 2019, XOMA had cash of $39.7 million. The Company ended December 31, 2018, with cash of $45.8 million. During the third quarter of 2019, XOMA acquired a royalty interest position on six assets from Palobiofarma, including one asset being developed by Novartis. The $10.0 million Royalty Purchase Agreement with Palobiofarma, was funded with $5.0 million from XOMA's cash balance and $5.0 million through a drawdown of XOMA's line of credit from Silicon Valley Bank. The Company's current cash balance is expected to be sufficient to fund its 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 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.

     
    XOMA CORPORATION
    CONDENSED CONSOLIDATED BALANCE SHEETS
    (unaudited)
    (in thousands, except share and per share amounts)
             
        September 30,   December 31,
          2019       2018  
        (unaudited)    
    ASSETS        
    Current assets:        
    Cash   $ 39,744     $ 45,780  
    Trade and other receivables     3,783       1,468  
    Prepaid expenses and other current assets     519       378  
    Total current assets     44,046       47,626  
    Property and equipment, net     40       59  
    Operating lease right-of-use assets     5,929        
    Long-term royalty receivables     34,375       15,000  
    Long-term equity securities     873       392  
    Other assets     832       708  
    Total assets   $ 86,095     $ 63,785  
             
    LIABILITIES AND STOCKHOLDERS' EQUITY        
    Current liabilities:        
    Accounts payable   $ 923     $ 1,244  
    Accrued and other liabilities     1,100       2,382  
    Contingent consideration under royalty purchase agreements     75        
    Operating lease liabilities     2,353        
    Unearned revenue recognized under units-of-revenue method     859       490  
    Contract liabilities     798       798  
    Current portion of long-term debt     3,981       789  
    Total current liabilities     10,089       5,703  
    Unearned revenue recognized under units-of-revenue method – long-term     15,876       17,017  
    Long-term debt     28,698       21,690  
    Long-term operating lease liabilities     5,189        
    Other liabilities – long-term     457       590  
    Total liabilities     60,309       45,000  
             
    Stockholders' equity:        
    Convertible preferred stock, $0.05 par value, 1,000,000 shares authorized, 6,256 shares issued and outstanding at September 30, 2019 and December 31, 2018            
    Common stock, $0.0075 par value, 277,333,332 shares authorized, 8,752,269 and 8,690,723 shares issued and outstanding at September 30, 2019 and December 31, 2018, respectively     65       65  
    Additional paid-in capital     1,215,784       1,211,122  
    Accumulated deficit     (1,190,063 )     (1,192,402 )
    Total stockholders' equity     25,786       18,785  
    Total liabilities and stockholders' equity   $ 86,095     $ 63,785  


    XOMA CORPORATION
    CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS
    (unaudited)
    (in thousands)
                     
        Three Months Ended September 30,   Nine Months Ended September 30,
          2019       2018       2019       2018  
    Revenues:                
    Revenue from contracts with customers   $ 8,525     $ 775     $ 17,176     $ 3,518  
    Revenue recognized under units-of-revenue method     330       121       772       96  
    Total revenues     8,855       896       17,948       3,614  
                     
    Operating expenses:                
    Research and development     143       637       1,123       1,445  
    General and administrative     5,821       4,657       16,709       14,236  
    Restructuring     -       909       -       1,368  
    Total operating expenses     5,964       6,203       17,832       17,049  
                     
    Income (loss) from operations     2,891       (5,307 )     116       (13,435 )
                     
    Other income (expense), net:                
    Interest expense     (484 )     (209 )     (1,336 )     (557 )
    Other income, net     771       938       3,559       3,661  
                                     
    Net income (loss) and comprehensive income (loss)   $ 3,178     $ (4,578 )   $ 2,339     $ (10,331 )
                                     
    Net income (loss) and comprehensive income (loss) available to common stockholders, basic   $ 1,851     $ (4,578 )   $ 1,362     $ (10,331 )
                                     
    Net income (loss) and comprehensive income (loss) available to common stockholders, diluted   $ 1,911     $ (4,578 )   $ 1,403     $ (10,331 )
                                     
    Basic net income (loss) per share available to common stockholders   $ 0.21     $ (0.55 )   $ 0.16     $ (1.24 )
                                     
    Diluted net income (loss) per share available to common stockholders   $ 0.20     $ (0.55 )   $ 0.15     $ (1.24 )
                                     
    Weighted average shares used in computing basic net income (loss) per share available to common stockholders     8,731       8,386       8,721       8,354  
                                     
    Weighted average shares used in computing diluted net income (loss) per share available to common stockholders     9,441       8,386       9,379       8,354  
                     

    Investor contact:
    Juliane Snowden
    Oratorium Group, LLC
    +1 646-438-9754

    Media contact:
    Kathy Vincent
    KV Consulting & Management
    +1 310-403-8951

    Primary Logo

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  15. EMERYVILLE, Calif., Sept. 26, 2019 (GLOBE NEWSWIRE) -- XOMA Corporation (NASDAQ:XOMA), announced today it has acquired a royalty interest in six clinical-stage assets targeting the adenosine pathway for $10.0 million from Palobiofarma S.L.  One of the assets, NIR178, is being developed by Novartis as a novel checkpoint inhibitor for the treatment of solid tumors.  Five of the assets are being developed by Palobiofarma.

    "We are impressed by Palobiofarma's expertise in adenosine receptor biology and what they have achieved.  It's unusual today to discover a private company that has three distinct compounds in Phase 2 development and three additional compounds in Phase 1 clinical studies.  We are particularly attracted to NIR178, which is being…

    EMERYVILLE, Calif., Sept. 26, 2019 (GLOBE NEWSWIRE) -- XOMA Corporation (NASDAQ:XOMA), announced today it has acquired a royalty interest in six clinical-stage assets targeting the adenosine pathway for $10.0 million from Palobiofarma S.L.  One of the assets, NIR178, is being developed by Novartis as a novel checkpoint inhibitor for the treatment of solid tumors.  Five of the assets are being developed by Palobiofarma.

    "We are impressed by Palobiofarma's expertise in adenosine receptor biology and what they have achieved.  It's unusual today to discover a private company that has three distinct compounds in Phase 2 development and three additional compounds in Phase 1 clinical studies.  We are particularly attracted to NIR178, which is being developed by Novartis as a potential novel immuno-oncology agent for the treatment of multiple solid tumors," said Jim Neal, Chief Executive Officer at XOMA.  "Palobiofarma's portfolio covers all four adenosine receptor sub-types.  Among these sub-types, A2AR receptor antagonists are an emerging class of ‘next-generation' immune checkpoint agents in oncology.  In addition, early data suggest adenosine receptor antagonists have potential in indications beyond oncology, including psoriasis and NASH."

    The six royalty interest assets are:

    • NIR178, a potent oral adenosine A2A receptor antagonist being developed by Novartis as a novel checkpoint inhibitor for the treatment of solid tumors.  Novartis currently has three clinical trials ongoing in nine oncology indications with this asset.
    • PBF-680, a first-in-class oral adenosine A1 receptor antagonist Palobiofarma has in Phase 2 development for asthma/chronic obstructive pulmonary disease (COPD). 
    • PBF-677, a potent and selective, gastrointestinal (GI)-restricted adenosine A3 receptor antagonist in development as first-in-class oral treatment for inflammatory bowel disease.  Palobiofarma currently is conducting a Phase 2 ulcerative colitis study with this asset.
    • PBF-999, a dual Adenosine A2A receptor antagonist / Phosphodiesterase 10 (PDE-10) inhibitor for the treatment of tumors, including "cold tumors."  Palobiofarma is investigating this compound in a Phase 1 dose escalation study in patients with solid tumors.
    • PBF-1129, a potent and selective adenosine A2B receptor antagonist Palobiofarma is developing as a first-in-class oral treatment for idiopathic pulmonary fibrosis and lung cancer.  A Phase 1 dose escalation study in lung cancer patients is in progress.
    • PBF-1650, a potent and selective, orally bioavailable adenosine A3 receptor antagonist Palobiofarma is pursuing for the treatment of psoriasis and nonalcoholic steatohepatitis (NASH).  The company currently is conducting Phase 1 studies in healthy volunteers.

    Under the terms of the agreement, XOMA will receive low single-digit royalties on future sales of these six adenosine receptor assets.  XOMA will draw $5.0 million from its line of credit with Silicon Valley Bank to partially fund this transaction.

    Separately, Inveready, the lead investor in the Seed Stage in Palobiofarma, invested an additional $2.0 million in Palobiofarma for the development of all six clinical-stage assets.

    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 partner-funded programs.  For more information, visit www.xoma.com.

    Forward-Looking Statements
    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

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  16. EMERYVILLE, Calif., Sept. 26, 2019 (GLOBE NEWSWIRE) -- XOMA Corporation (NASDAQ:XOMA) announced today its Chief Executive Officer, Jim Neal, will provide a corporate update at the 2019 Cantor Fitzgerald Global Healthcare Conference, taking place October 2-4, 2019, in New York, New York.  The presentation will take place on Wednesday, October 2, 2019 at 7:45AM ET, and can be accessed via a live webcast on the investor relations page of XOMA's website at www.xoma.com.  An archived version of the 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…

    EMERYVILLE, Calif., Sept. 26, 2019 (GLOBE NEWSWIRE) -- XOMA Corporation (NASDAQ:XOMA) announced today its Chief Executive Officer, Jim Neal, will provide a corporate update at the 2019 Cantor Fitzgerald Global Healthcare Conference, taking place October 2-4, 2019, in New York, New York.  The presentation will take place on Wednesday, October 2, 2019 at 7:45AM ET, and can be accessed via a live webcast on the investor relations page of XOMA's website at www.xoma.com.  An archived version of the 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 partner-funded programs.  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.  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; we may not be successful in entering into out-license agreements for our product candidates; if our therapeutic product candidates do not receive regulatory approval, our third-party licensees will not be able to manufacture and 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: All references to "portfolio" in this press release are to milestone and/or royalty rights associated with drug products in development.  All references to "assets" in this presentation are 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

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  17. EMERYVILLE, Calif., Sept. 03, 2019 (GLOBE NEWSWIRE) -- XOMA Corporation (NASDAQ:XOMA) announced today its Chief Executive Officer, Jim Neal, will present an update about the company's business at the H.C. Wainwright 21st Annual Global Investment Conference, in New York, New York.  The presentation will take place on Tuesday, September 10, 2019, at 10:00AM ET, and can be accessed via a live webcast on the investor relations page of XOMA's website at www.xoma.com or by clicking http://wsw.com/webcast/hcw5/xoma/.  An archived version of the 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…

    EMERYVILLE, Calif., Sept. 03, 2019 (GLOBE NEWSWIRE) -- XOMA Corporation (NASDAQ:XOMA) announced today its Chief Executive Officer, Jim Neal, will present an update about the company's business at the H.C. Wainwright 21st Annual Global Investment Conference, in New York, New York.  The presentation will take place on Tuesday, September 10, 2019, at 10:00AM ET, and can be accessed via a live webcast on the investor relations page of XOMA's website at www.xoma.com or by clicking http://wsw.com/webcast/hcw5/xoma/.  An archived version of the 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 partner-funded programs.  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.  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; we may not be successful in entering into out-license agreements for our product candidates; if our therapeutic product candidates do not receive regulatory approval, our third-party licensees will not be able to manufacture and 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: All references to "portfolio" in this press release are to milestone and/or royalty rights associated with drug products in development.  All references to "assets" in this presentation are 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

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