XOMA Royalty Corporation Stock Price, News & Analysis

XOMA Corporation has successfully completed an underwritten public offering of 984,000 shares of its 8.625% Series A Cumulative Perpetual Preferred Stock at $25.00 per share, raising approximately $23.4 million in net proceeds. The funds will support a segregated dividend account and general corporate purposes, including future acquisitions related to drug development programs. The Preferred Stock trades under the symbol ‘XOMAP’ on Nasdaq. XOMA continues to expand its portfolio of partner-funded drug development programs across various therapeutic areas.

XOMA Corporation announced the pricing of its public offering of 880,000 shares of 8.625% Series A Cumulative Perpetual Preferred Stock at $25.00 per share, raising gross proceeds of $22.0 million. A 30-day option allows underwriters to purchase an additional 104,000 shares. The offering is set to close on December 15, 2020, subject to conditions. Proceeds will fund a segregated dividend account and support general corporate purposes, including acquiring milestone and royalty rights for drug development programs. The shares will trade under the symbol 'XOMAP' on NASDAQ if approved.

XOMA Corporation announced a public offering of its Series A Cumulative Perpetual Preferred Stock at a liquidation preference of $25.00 per share. The offering includes a 30-day option for underwriters to purchase additional shares. Proceeds will fund a segregated dividend account and support general corporate purposes, including acquisitions of milestone and royalty rights for drug development. The offering is conducted under an effective shelf registration statement. Joint book-runners for the offering include B. Riley Securities and others.

XOMA Corporation announced a $2 million milestone payment from Takeda, marking the first patient dosed in the Phase 2 study of mezagitamab for generalized myasthenia gravis. This collaboration began in 2006, and XOMA may receive up to $16 million more in milestones. Recently, XOMA earned $28.5 million from four partners for similar milestones. The company emphasizes its growing portfolio through milestone interests and royalty rights, indicating a promising future for its royalty aggregator model.

XOMA Corporation (Nasdaq: XOMA) announced a $1 million milestone payment from Agenus related to Merck’s MK-4830, which is entering Phase 2 studies for treating advanced non-small cell lung cancer (NSCLC). This milestone marks the first achievement under XOMA's new royalty and milestone aggregator business model, having acquired a $15 million royalty interest from Agenus. CEO Jim Neal expressed optimism about this advancement's potential benefits for NSCLC patients.

XOMA Corporation announced a milestone payment of $25 million as its partner Novartis advanced NIS793 to Phase 2 for advanced pancreatic cancer. In total, the company earned $25.5 million due to various partner developments. Despite these advancements, XOMA reported third-quarter revenues of $0.6 million, a significant decrease from $8.9 million in Q3 2019, leading to a net loss of $1.1 million. The firm maintained a cash balance of $45.7 million at the quarter's end, expected to fund operations for multiple years.

XOMA Corporation has acquired rights to future milestone and royalty revenues from Bioasis Technologies related to the development of enzyme treatments for lysosomal storage disorders.

The deal involves a $1.2 million upfront payment and a low single-digit royalty on net sales of four enzyme products developed with Chiesi Group, potentially worth up to $138 million in future milestones. This acquisition expands XOMA's portfolio beyond monoclonal antibodies, enhancing its position in the biotechnology market.

XOMA Corporation (Nasdaq: XOMA) announced that its licensed anti-TGFβ monoclonal antibody, NIS793, has progressed to Phase 2 development, triggering a $25 million milestone payment from Novartis. This trial focuses on the efficacy and safety of NIS793 for treating first-line metastatic pancreatic ductal adenocarcinoma (mPDAC). The milestone payment strengthens XOMA's financial position and reduces its debt to Novartis to below $10 million. XOMA can potentially earn up to $445 million in future milestone payments from Novartis, depending on NIS793's development and commercialization.

XOMA Corporation (Nasdaq: XOMA) has announced a total of $1.9 million in payments from partners, reflecting its growing milestone and royalty portfolio. This includes a $1.4 million payment from Rezolute related to its private placement to support the development of RZ358 for congenital hyperinsulinism and RZ402 for diabetic macular edema, alongside a $0.5 million milestone payment triggered by a partner advancing an undisclosed asset into Phase 2 clinical trials. The CEO expressed satisfaction with this financial progress and the ongoing maturity of XOMA's monetization strategy.