MARKET

XOMA

XOMA

XOMA
NASDAQ

Real-time Quotes | Nasdaq Last Sale

32.05
-0.61
-1.87%
After Hours: 32.05 0 0.00% 13:15 11/27 EST
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31.84
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The Daily Biotech Pulse:Kazia Jumps On Data Readout, Clinical Hold On Cellectis' Blood Cancer Study Lifted
Here's a roundup of top developments in the biotech space over the last 24 hours. Scaling The Peaks (Biotech Stocks Hitting 52-week Highs Nov. 17)
Benzinga · 11/18 12:29
XOMA earns $2M milestone payment from Takeda
XOMA (XOMA) earned a $2M milestone payment from Takeda Pharmaceutical as the first patient has been dosed in its Phase 2 study to evaluate safety, tolerability, and efficacy of mezagitamab
Seekingalpha · 11/16 14:05
XOMA Earns $2M Milestone from Takeda as Mezagitamab Advances into Phase 2 Development
XOMA Corporation (NASDAQ:XOMA) (“XOMA” or the “Company”) today announced it has earned a $2 million milestone payment from Takeda Pharmaceutical Company Limited as the first patient has been dosed
Benzinga · 11/16 12:31
Can You Imagine How XOMA's (NASDAQ:XOMA) Shareholders Feel About The 12% Share Price Increase?
On average, over time, stock markets tend to rise higher. This makes investing attractive. But if you choose that...
Simply Wall St. · 11/12 14:47
XOMA Highlights Recent Royalty Asset Portfolio Developments and Reports Third Quarter 2020 Financial Results
Company recently earned a $25 million milestone payment as NIS793 advanced to Phase 2 development in advanced pancreatic cancer An undisclosed partner entered Phase 2 development, triggering a $0.5 million milestone  Rezolute’s financing resulted in accelerated $1.4 million payment  Two partners presented early stage data at scientific conferences Acquired royalty interest in four lysosomal storage disorder enzymes being developed by Chiesi Group Additional partner-funded assets advanced to next stages of clinical development, even though clinical trial enrollment across the industry remains challenging due to the COVID-19 pandemicEMERYVILLE, Calif., Nov. 05, 2020 (GLOBE NEWSWIRE) -- XOMA Corporation (Nasdaq: XOMA), today announced recent royalty asset portfolio advancements and its third quarter 2020 financial results.“Our partners continue to make advances in their missions to bring new therapies to patients in need.  Recently, two separate partners dosed the first patients in their respective Phase 2 studies – Novartis with NIS793, an anti-TGFβ monoclonal antibody, in patients with metastatic pancreatic cancer, and one undisclosed partner’s Phase 2 trial in an undisclosed indication.  These two events resulted in our earning a combined $25.5 million in milestones, and a portion of the $25 million Novartis milestone will be applied to reduce our Novartis debt obligation to less than $10 million,” stated Jim Neal, Chief Executive Officer at XOMA.  “Another three partners announced the initiation of Phase 2 studies in the third quarter – Bayer’s osocimab CONVERT study in patients with kidney failure requiring hemodialysis, Rezolute’s RZ358 study in congenital hyperinsulinism, and Incyte’s triple combination therapy study in select advanced malignancies.  Additionally, the medical community received its first look at early data from two assets in our portfolio, Merck’s MK-4830 and Alligator/Janssen’s mitazalimab (anti-CD40 mAb), via presentations at medical conferences over the summer.“We were pleased to learn Rezolute completed a sizable fundraise that attracted high-quality investors.  Their successful financing resulted in the accelerated payment of $1.4 million to XOMA,” Mr. Neal continued.  “On the royalty interest acquisition front, we exercised our option to acquire the royalty rights associated with the enzymes being investigated as potential treatments for four lysosomal storage disorders under Bioasis’ strategic alliance with Chiesi Group.  This basket of enzymes expands our portfolio beyond monoclonal antibodies and small molecules and adds another four assets to our potential milestone and royalty portfolio of 65-plus disclosed and undisclosed assets.”Financial Results XOMA recorded total revenues of $0.6 million for the third quarter of 2020, compared with $8.9 million in the third quarter of 2019.  The decrease for the three months ended September 30, 2020, as compared to the corresponding period of 2019, was primarily due to $6.0 million recognized under the Rezolute agreement and $2.5 million recognized under the Janssen license agreement in the third quarter of 2019.Research and development expenses were $0.03 million for the third quarter of 2020, compared to $0.1 million for the third quarter of 2019.  The decrease of $0.1 million for the three months ended September 30, 2020, compared to the same period of 2019, was due to a $0.1 million decrease in salary and related expenses as a result of the recategorization of employees to department codes mapped to general and administrative expenses.General and administrative (“G&A”) expenses were $3.2 million for the third quarter of 2020, compared to $5.8 million for the third quarter of 2019.  The decrease of $2.6 million between the corresponding periods of 2020 and 2019 was primarily due to a $1.3 million decrease in salary and related expenses and a $0.9 million decrease in facilities costs.In the third quarter of 2020, G&A expenses included $0.7 million in stock-based compensation, which is a non-cash expense.  The Company’s net cash used in operations was $2.4 million.In the third quarter of 2020, XOMA recorded $0.4 million in total interest expense, as compared to $0.5 million in the corresponding period of 2019, both of which reflect the Company’s outstanding loan balances with Silicon Valley Bank (SVB) and Novartis.  Net loss for the third quarter of 2020 was $1.1 million, compared to net income of $3.2 million for the third quarter of 2019.On September 30, 2020, XOMA had cash of $45.7 million.  The Company ended December 31, 2019, with cash of $56.7 million.  Since September 30, 2020, XOMA has earned $25.5 million, including debt reduction, from its partners.  The Company continues to believe its current cash balance 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.  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.XOMA CORPORATION CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited) (in thousands, except share and per share amounts)         September 30, December 31,    2020   2019        ASSETS     Current assets:     Cash $45,725  $56,688  Trade and other receivables, net  222   2,933  Income tax receivable  1,526   -  Prepaid expenses and other current assets  671   352  Total current assets  48,144   59,973  Property and equipment, net  24   34  Operating lease right-of-use assets  398   510  Long-term royalty receivables  34,375   34,375  Equity securities  2,572   681  Other assets  215   151  Total assets $85,728  $95,724        LIABILITIES AND STOCKHOLDERS’ EQUITY     Current liabilities:     Accounts payable $450  $614  Accrued and other liabilities  466   945  Contingent consideration under royalty purchase agreements  75   75  Operating lease liabilities  175   163  Unearned revenue recognized under units-of-revenue method  1,409   1,096  Contract liabilities  798   798  Current portion of long-term debt  8,962   5,184  Total current liabilities  12,335   8,875  Unearned revenue recognized under units-of-revenue method – long-term  13,952   15,317  Long-term debt  20,990   27,093  Long-term operating lease liabilities  275   408  Other liabilities – long-term  134   43  Total liabilities  47,686   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 September 30, 2020 and December 31, 2019, respectively  —   —  Common stock, $0.0075 par value, 277,333,332 shares authorized, 11,022,143 and 9,758,583 shares issued and outstanding at September 30, 2020 and December 31, 2019, respectively  83   73  Additional paid-in capital  1,241,711   1,238,299  Accumulated deficit  (1,203,752)  (1,194,384) Total stockholders’ equity  38,042   43,988  Total liabilities and stockholders’ equity $85,728  $95,724              XOMA CORPORATION CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) (unaudited)   (in thousands, except per share amounts)                            Three Months Ended September 30, Nine Months Ended September 30,    2020   2019   2020   2019   Revenues:            Revenue from contracts with customers$200  $8,525  $753  $17,176      Revenue recognized under units-of-revenue method 357   330   1,051   772             Total revenues 557   8,855   1,804   17,948             Operating expenses:              Research and development 34   143   134   1,123        General and administrative 3,212   5,821   13,126   16,709             Total operating expenses 3,246   5,964   13,260   17,832                       (Loss) income from operations (2,689)  2,891   (11,456)  116             Other income (expense), net:                   Interest expense (434)  (484)  (1,484)  (1,336)            Other income, net 2,046   771   2,046   3,559   (Loss) income before income tax (1,077)  3,178   (10,894)  2,339             Income tax benefit -   -   1,526   -             Net (loss) income and comprehensive (loss) income$(1,077) $3,178  $(9,368) $2,339   Net (loss) income and comprehensive (loss) income available to common stockholders, basic$(1,077) $1,851  $(9,368) $1,362   Net (loss) income and comprehensive (loss) income available to common stockholders, diluted$(1,077) $1,911  $(9,368) $1,403   Basic net (loss) income per share available to common stockholders$(0.10) $0.21  $(0.89) $0.16   Diluted net (loss) income per share available to common stockholders$(0.10) $0.20  $(0.89) $0.15   Weighted average shares used in computing basic net (loss) income per share available to common stockholders 11,019   8,731   10,537   8,721   Weighted average shares used in computing diluted net (loss) income per share available to common stockholders 11,019   9,441   10,537   9,379             Investor contact: Juliane Snowden Oratorium Group, LLC +1 646-438-9754 jsnowden@oratoriumgroup.comMedia contact: Kathy Vincent KV Consulting & Management +1 310-403-8951 kathy@kathyvincent.com
GlobeNewswire · 11/05 12:30
XOMA secures $25M payment from Novartis, related to NIS793 development
XOMA's (XOMA) NIS793, an anti-TGFβ monoclonal antibody has advanced to the Phase 2 stage. The event has triggered a $25M milestone payment from Novartis.The Phase 2 trial is designed to
Seekingalpha · 10/28 12:03
XOMA secures $1.9M payment in relation with two partner developments
Xoma (XOMA) has earned $1.9M in payments from two partners, $1.4M from Rezolute, in connection with its recent private placement to develop clinical candidates, RZ358 and RZ402 and $0.5M milestone
Seekingalpha · 10/14 12:45
XOMA Earns $1.9 Million Associated with Two Partner Developments
* 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 XOMAEMERYVILLE, 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 jsnowden@oratoriumgroup.comMedia contact: Kathy Vincent KV Consulting & Management +1 310-403-8951 kathy@kathyvincent.com
GlobeNewswire · 10/14 12:30
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Analyst Rating

Based on 3 analysts

Buy

Disclaimer: The analysis information is for reference only and does not constitute an investment recommendation.

Analyst Price Target
The average XOMA stock price target is 33.00 with a high estimate of 36.00 and a low estimate of 30.00.
EPS
Institutional Holdings
Institutions: 86
Institutional Holdings: 6.81M
% Owned: 61.78%
Shares Outstanding: 11.02M
TypeInstitutionsShares
Increased
12
263.19K
New
12
-115.59K
Decreased
18
127.84K
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0
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Biotechnology & Medical Research
+3.18%
Pharmaceuticals & Medical Research
+1.72%
Key Executives
Chairman/Independent Director
W. Denman Van Ness
Chief Executive Officer/Director
James Neal
Chief Financial Officer/Senior Vice President
Thomas Burns
Chief Financial Officer/Vice President - Finance
William Garrard
Director
Natasha Hernday
Independent Director
Barbara Kosacz
Independent Director
Joseph Limber
Independent Director
Matthew Perry
Independent Director
Jack Wyszomierski
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About XOMA
XOMA Corporation is a development-stage biotechnology company. The Company focuses on the discovery and development of monoclonal antibody-based therapeutics. It has five products in its endocrine portfolio, two of which are developed as part of its XOMA Metabolism (XMet) platform. Its products include XOMA 358, XOMA 129, XOMA 213 and Gevokizumab. Its XOMA 358 is meant for long-acting treatment of hyperinsulinemic hypoglycemia. XOMA 129 is meant for rapid onset, short-acting treatment of severe acute hypoglycemia. XOMA 213 is a Phase II-ready product candidate targeting the prolactin receptor, as well as research-stage programs targeting the parathyroid receptor (PTH1R) and the adrenal corticotropic hormone (ACTH). Gevokizumab is a humanized monoclonal antibody with allosteric properties that has the potential to treat patients with a range of inflammatory diseases. Its technologies include Antibody Discovery Advanced Platform Technologies (ADAPT), ModulX and OptimX.
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