Welcome to our dedicated page for XOMA Royalty Corporation news (Ticker: XOMA), a resource for investors and traders seeking the latest updates and insights on XOMA Royalty Corporation stock.
XOMA Royalty Corporation (Nasdaq: XOMA) is a biotechnology royalty aggregator that regularly reports on transactions, partner developments, and portfolio evolution. News about XOMA Royalty often centers on its acquisition of royalty and milestone interests in therapeutic candidates that have been licensed to pharmaceutical or biotechnology companies, as well as on corporate events that affect its capital structure and governance.
Recent announcements highlight XOMA Royalty’s completion of acquisitions of companies such as HilleVax, LAVA Therapeutics, Mural Oncology, and Turnstone Biologics, which add partnered programs and associated economic interests to its portfolio. The company also issues updates on strategic royalty-sharing transactions, including amendments to its collaboration with Takeda related to mezagitamab and exposure to a basket of development-stage assets in Takeda’s externalized assets portfolio.
Investors following XOMA Royalty news will see regular disclosures on quarterly and year-to-date financial results, including royalty and milestone receipts from commercial assets like VABYSMO, OJEMDA, MIPLYFFA, XACIATO, IXINITY, and DSUVIA. The company’s releases also summarize key clinical and regulatory milestones reported by its partners, since these events can influence the timing and magnitude of potential royalty and milestone payments.
Additional news items cover preferred stock dividends on the company’s Series A and Series B Cumulative Perpetual Preferred Stock, at-the-market offerings of common and preferred securities, and leadership changes such as transitions in the Chief Financial Officer role. For investors and observers, the XOMA Royalty news feed provides a consolidated view of business development activity, partner pipeline progress, financing decisions, and governance updates that shape the company’s royalty and milestone portfolio over time.
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.
XOMA Corporation announced that CEO Jim Neal will present at two investor conferences: the H.C. Wainwright 22nd Annual Global Investment Conference on September 14, 2020, at 2:00 PM ET, and the Cantor Fitzgerald Virtual Global Healthcare Conference on September 15, 2020, at 4:00 PM ET.
Webcasts will be available on XOMA's investor relations website, with replays accessible for 90 days post-event. XOMA's portfolio encompasses various licensed programs in biotechnology, focusing on antibody therapeutics. The company emphasizes that all assets are still investigational and highlights potential risks in its forward-looking statements.
XOMA Corporation (Nasdaq: XOMA) reported its second quarter 2020 results, showcasing total revenues of $0.4 million, down from $1.0 million in Q2 2019. The net loss decreased to $3.5 million from $4.1 million year-over-year. Research and development expenses dropped to $0.04 million, while general and administrative expenses fell to $3.6 million. As of June 30, 2020, the company's cash and cash equivalents stood at $49.5 million, down from $56.7 million at the end of 2019, but management believes this is sufficient for multiple years of operation.
XOMA Corporation (NASDAQ: XOMA) has announced that CEO Jim Neal will present a business update at the Wedbush PacGrow Virtual Healthcare Conference on August 12, 2020, at 3:30 PM ET. The presentation will be live-streamed and accessible through the investor relations section of XOMA's website. An archived version will be available for 90 days post-event. XOMA focuses on licensing programs in biotechnology and pharmaceuticals, aiming to create value through milestone and royalty proceeds from partnered developments.
XOMA Corporation (NASDAQ: XOMA) has appointed Natasha A. Hernday to its Board of Directors. Hernday brings 20 years of corporate development experience, previously serving at Seattle Genetics and Amgen. CEO Jim Neal expressed confidence that Hernday's expertise in asset licensing and partnerships will enhance XOMA's royalty aggregator business model. Hernday is expected to play a pivotal role in advancing the company's strategy focused on human health breakthroughs through royalty aggregation.
XOMA Corporation (Nasdaq: XOMA) has been officially included in the Russell 2000® and Russell 3000® indexes as of June 26, 2020. This inclusion is expected to enhance the Company's visibility among investors and potentially expand its shareholder base, according to CEO Jim Neal. The Russell 3000® Index tracks the largest 3,000 U.S. stocks, while the Russell 2000® specifically focuses on small-cap stocks, influencing many investment strategies and index funds.