XOMA Royalty Corporation Stock Price, News & Analysis

XOMA Corporation (NASDAQ: XOMA) has announced that NIS793, an investigational antibody targeting Transforming Growth Factor Beta (TGFβ), has received Orphan Drug Designation from the FDA for pancreatic cancer treatment. This designation provides various benefits to encourage drug development for rare diseases. Upon regulatory approval of NIS793, XOMA could earn up to $445 million through milestone payments and receive tiered royalties on net product sales. However, efficacy and safety of NIS793 have not yet been established, and commercialization is not guaranteed.

XOMA Corporation has acquired a royalty interest in Checkmate Pharmaceuticals’ therapy vidutolimod for $7 million, with potential sales milestones. Vidutolimod, a Toll-like receptor 9 agonist, aims to enhance the immune response against tumors, particularly in melanoma patients. The FDA has granted Fast Track and Orphan Drug designations for this treatment. XOMA stands to gain additional pre-commercial milestone payments of up to $25 million, positioned to benefit from future sales as Checkmate conducts multiple clinical studies to advance vidutolimod.

XOMA Corporation announced cash dividends for its preferred stockholders. Holders of 8.625% Series A Cumulative Perpetual Preferred Stock (Nasdaq: XOMAP) will receive $0.539 per share, while holders of 8.375% Series B Cumulative Perpetual Preferred Stock (Nasdaq: XOMAO) will receive $0.55833 per depositary share. The dividends are scheduled for payment on July 15, 2021, to shareholders of record as of July 2, 2021. XOMA also operates as a biotechnology royalty aggregator, acquiring potential future economics associated with drug candidates that have been licensed to other pharmaceutical firms.

XOMA Corporation (Nasdaq: XOMA) announced its licensees will present at the 2021 ASCO Annual Meeting from June 4-8. CEO Jim Neal expressed excitement over Novartis and AVEO's advancements with drug candidates NIS793 and ficlatuzumab, respectively, which are moving towards Phase 3 clinical programs. The presentations will showcase their investigational compounds, with efficacy and safety still unproven. Investors should note that there is no guarantee these drugs will reach commercial availability.

XOMA reported a net loss of $7.4 million for Q1 2021, compared to $4.8 million in Q1 2020. The company's cash position improved to over $100 million following a $40 million Series B offering. As of March 31, XOMA held $67.8 million in cash, down from $84.2 million at the end of 2020. Total revenues decreased to $0.4 million from $0.8 million year-over-year. XOMA's portfolio now includes over 70 drug candidates, with recent acquisitions enhancing its pipeline. The board approved its first quarterly dividend payment for XOMAP, reflecting a strong financial posture amid an expanding asset base.

XOMA Corporation has secured a $0.5 million milestone payment from Janssen Biotech for the first patient dosed in a Phase 3 clinical trial of a biologic asset. This marks the second molecule to reach Phase 3 since XOMA shifted to a biotech royalty aggregator model in 2017. The company anticipates further milestone payments and royalties upon successful marketing approval and commercialization of the asset. With a portfolio of advancements, XOMA is positioned to potentially enhance shareholder value through its partnered programs.

XOMA Corporation (Nasdaq: XOMA) has expanded its portfolio of potential future milestone and royalty assets by adding three Affimed N.V. innate cell engager (ICE®) programs. The additions include AFM13 and AFM24, both designed to harness the innate immune system against cancer. XOMA is eligible for undisclosed payments on future sales and milestone payments upon marketing approvals of these molecules. CEO Jim Neal expressed excitement over the maturation of legacy technology agreements into potential revenue-generating assets, enhancing value for shareholders.

XOMA Corporation (Nasdaq: XOMA) announced the closing of its public offering of 1,600,000 depositary shares, representing a 1/1000th interest in its 8.375% Series B Cumulative Perpetual Preferred Stock. The offering raised gross proceeds of $40 million, netting approximately $38 million after fees. The funds will support a segregated dividend account and general corporate purposes, including future acquisitions related to drug development. Shares will trade on Nasdaq under the symbol 'XOMAO' soon.

XOMA Corporation has announced a public offering of 1,400,000 depositary shares at $25.00 each, raising $35.0 million in gross proceeds. Each share represents a 1/1000th interest in the company’s 8.375% Series B Cumulative Perpetual Preferred Stock. The offering, with a 30-day underwriter option for 200,000 additional shares, is set to close around April 9, 2021. Proceeds will fund a segregated dividend account and general corporate purposes, including future acquisitions related to drug development. Shares will trade under the symbol XOMAO.