STOCK TITAN

XOMA Royalty Reports Third Quarter 2024 Financial Results and Highlights Recent Activities

Rhea-AI Impact
(Neutral)
Rhea-AI Sentiment
(Neutral)
Tags

XOMA Royalty reported Q3 2024 financial results with total income of $7.2 million, including $6.5 million from commercial products. Cash receipts totaled $9.9 million in Q3 and $42.3 million for the first nine months of 2024. The company recorded a net loss of $17.2 million, primarily due to a $14.0 million non-cash impairment related to Agenus. Notable events include FDA approval of MIPLYFFA™ for Niemann-Pick disease Type C and acquisition of 50% economic interest in TWIST Bioscience's portfolio of 60-plus licensed early-stage assets. Cash position stood at $146.8 million as of September 30, 2024.

XOMA Royalty ha riportato i risultati finanziari del terzo trimestre 2024 con un reddito totale di 7,2 milioni di dollari, di cui 6,5 milioni dai prodotti commerciali. Le entrate in contanti hanno raggiunto 9,9 milioni di dollari nel terzo trimestre e 42,3 milioni per i primi nove mesi del 2024. L'azienda ha registrato una perdita netta di 17,2 milioni di dollari, principalmente a causa di una svalutazione non monetaria di 14,0 milioni relativa ad Agenus. Tra gli eventi significativi, si segnala l'approvazione da parte della FDA di MIPLYFFA™ per la malattia di Niemann-Pick di tipo C e l'acquisizione del 50% dell'interesse economico nel portafoglio di oltre 60 beni in fase iniziale concessi in licenza da TWIST Bioscience. La posizione di liquidità si attesta a 146,8 milioni di dollari al 30 settembre 2024.

XOMA Royalty reportó los resultados financieros del tercer trimestre de 2024 con un ingreso total de 7,2 millones de dólares, incluyendo 6,5 millones de dólares de productos comerciales. Los ingresos en efectivo totalizaron 9,9 millones de dólares en el tercer trimestre y 42,3 millones de dólares durante los primeros nueve meses de 2024. La compañía registró una pérdida neta de 17,2 millones de dólares, principalmente debido a un deterioro no monetario de 14,0 millones relacionado con Agenus. Eventos destacados incluyen la aprobación de la FDA para MIPLYFFA™ para la enfermedad de Niemann-Pick Tipo C y la adquisición del 50% de interés económico en el portafolio de activos licenciados en etapa temprana de TWIST Bioscience, que cuenta con más de 60 bienes. La posición de efectivo se situó en 146,8 millones de dólares al 30 de septiembre de 2024.

XOMA Royalty는 2024년 3분기 재무 결과를 보고하며 총 수익이 720만 달러에 달하고, 이 중 650만 달러가 상업 제품에서 발생하였다고 발표했습니다. 현금 수입은 3분기 동안 990만 달러, 2024년 처음 아홉 달 동안 4230만 달러에 달했습니다. 이 회사는 Agenus와 관련된 1400만 달러의 비현금 손상으로 인해 1720만 달러의 순손실을 기록했습니다. 주목할 만한 사건으로는 Niemann-Pick 질병 유형 C에 대한 MIPLYFFA™의 FDA 승인과 TWIST Bioscience의 60개 이상의 면허가 있는 초기 자산 포트폴리오에서 50%의 경제적 이익을 인수한 것이 포함됩니다. 현금 보유액은 2024년 9월 30일 기준으로 1억 4680만 달러에 달했습니다.

XOMA Royalty a publié les résultats financiers du troisième trimestre 2024, avec un revenu total de 7,2 millions de dollars, dont 6,5 millions provenant de produits commerciaux. Les recettes en espèces ont totalisé 9,9 millions de dollars au troisième trimestre et 42,3 millions de dollars pour les neuf premiers mois de 2024. L'entreprise a enregistré une perte nette de 17,2 millions de dollars, principalement en raison d'une dépréciation non monétaire de 14,0 millions liée à Agenus. Parmi les événements notables figurent l'approbation par la FDA de MIPLYFFA™ pour la maladie de Niemann-Pick de type C et l'acquisition d'un intérêt économique de 50 % dans le portefeuille de plus de 60 actifs à un stade précoce sous licence de TWIST Bioscience. La position de liquidités s'élevait à 146,8 millions de dollars au 30 septembre 2024.

XOMA Royalty berichtete über die finanziellen Ergebnisse des dritten Quartals 2024 mit einem Gesamteinkommen von 7,2 Millionen Dollar, davon 6,5 Millionen Dollar aus kommerziellen Produkten. Die Barzahlung belief sich im 3. Quartal auf 9,9 Millionen Dollar und in den ersten neun Monaten 2024 auf 42,3 Millionen Dollar. Das Unternehmen verzeichnete einen Nettoverlust von 17,2 Millionen Dollar, hauptsächlich aufgrund einer nicht zahlungswirksamen Wertminderung in Höhe von 14,0 Millionen Dollar, die mit Agenus verbunden ist. Zu den bemerkenswerten Ereignissen gehören die FDA-Zulassung von MIPLYFFA™ für die Niemann-Pick-Krankheit Typ C und der Erwerb eines 50%igen wirtschaftlichen Interesses an dem Portfolio von mehr als 60 lizenzierten frühen Vermögenswerten von TWIST Bioscience. Die Liquiditätsposition belief sich zum 30. September 2024 auf 146,8 Millionen Dollar.

Positive
  • FDA approval of MIPLYFFA™ adds sixth commercial asset to portfolio
  • Acquisition of 50% interest in TWIST Bioscience's 60+ licensed assets
  • Total income increased to $7.2M in Q3 2024 from $0.8M in Q3 2023
  • Strong cash position of $146.8M as of September 30, 2024
  • Cash receipts of $9.9M in Q3 and $42.3M YTD
Negative
  • Net loss increased to $17.2M in Q3 2024 from $5.5M in Q3 2023
  • $14.0M non-cash impairment charge related to Agenus
  • G&A expenses increased to $8.0M from $6.4M YoY
  • Interest expense of $3.5M related to Blue Owl Loan
  • Net cash used in operating activities was $8.6M

Insights

The Q3 2024 results show mixed performance with notable developments. $9.9 million in cash receipts and $7.2 million in total income represent significant growth from the previous year's $0.8 million. However, the $14 million non-cash impairment charge related to Agenus resulted in a wider net loss of $17.2 million.

The addition of MIPLYFFA™ as the sixth commercial asset and the strategic $15 million deal with Twist Bioscience diversifies the royalty portfolio. The company maintains a strong cash position of $146.8 million, though slightly down from year-end 2023. Increased G&A expenses and R&D costs from the Kinnate acquisition warrant monitoring, but the growing commercial portfolio and early-stage assets provide multiple future revenue streams.

The FDA approval of MIPLYFFA™ for Niemann-Pick disease Type C represents a significant milestone as the first approved therapy for this rare genetic disorder. This addition to XOMA's portfolio is particularly valuable given the unmet medical need and competition in the NPC space.

The diversification strategy through the Twist Bioscience deal adds exposure to 60-plus early-stage assets across multiple therapeutic areas. However, the setback in Johnson & Johnson's cetrelimab Phase 3 trial in MIBC highlights the inherent risks in drug development. The upcoming Takeda R&D Day discussion on mezagitamab could provide additional pipeline visibility.

Zevra’s MIPLYFFA™ (arimoclomol) received FDA approval and became the sixth commercial asset in XOMA Royalty’s portfolio

XOMA Royalty acquired a 50 percent economic interest in TWIST Bioscience’s portfolio of 60-plus licensed early-stage assets across approximately 30 partners

Cash receipts totaled $9.9 million in the third quarter, and $42.3 million for the first nine months of 2024

EMERYVILLE, Calif., Nov. 07, 2024 (GLOBE NEWSWIRE) -- XOMA Royalty Corporation (NASDAQ: XOMA), the biotech royalty aggregator, reported its third quarter 2024 financial results and highlighted recent activities.

“We continue to take a balanced approach to building a portfolio of sustainable cashflow streams by selectively acquiring royalty economics across the lifecycle of drug development,” stated Owen Hughes, Chief Executive Officer of XOMA Royalty.  “The September approval of MIPLYFFA™, the first therapy approved for patients living with Niemann-Pick disease Type C, adds to our growing commercial royalty portfolio, while the recent transaction with Twist Bioscience further expands our early-stage portfolio, a key focus for us as we look to distribute risk across a diversified portfolio.”

Key Third Quarter Events

PartnerEvent
Zevra TherapeuticsThe U.S. Food and Drug Administration (FDA) approved Zevra’s MIPLYFFA™ (arimoclomol) capsules as an orally delivered treatment for Niemann-Pick disease type C (NPC).  MIPLYFFA™ is indicated for use in combination with miglustat for the treatment of neurological manifestations of NPC in adult and pediatric patients 2 years of age and older.
RezoluteAnnounced the sunRIZE Phase 3 clinical trial investigating ersodetug (RZ358) in patients with congenital hyperinsulinism (CHI) will begin enrolling patients in the U.S. in early 2025¹.

Received FDA clearance to initiate Phase 3 registrational study for ersodetug for the treatment of hypoglycemia due to tumor hyperinsulinism².
Johnson & JohnsonPresented neoadjuvant TAR-200 plus cetrelimab Phase 2 data in patients with muscle-invasive bladder cancer (MIBC) who are ineligible or refuse neoadjuvant platinum-based chemotherapy and are scheduled for radical cystectomy at the European Society of Medical Oncology 2024 Congress³.


Subsequent Events

PartnerEvent
Twist BioscienceXOMA Royalty completed a $15 million royalty monetization agreement with Twist, acquiring 50% of the future milestones and royalties and adding 60-plus partnered early-stage programs across 30 companies enabled by Twist Bioscience’s Biopharma Solutions business unit to the XOMA Royalty portfolio.
Johnson & JohnsonAnnounced one of two Phase 3 clinical trials in difficult to treat muscle-invasive bladder cancer (MIBC) that included treatment with cetrelimab was being discontinued for not showing superiority to chemoradiation during a scheduled interim analysis⁴.  Cetrelimab continues to be investigated in multiple other clinical trials.


Anticipated 2024 Events of Note

PartnerEvent
TakedaOn December 12, 2024, Takeda will be hosting an R&D Day: Focus on Late-State Pipeline and Market Opportunity and has commented publicly mezagitamab will be discussed during this investor event.


Third Quarter 2024 Financial Results

XOMA Royalty recorded total income and revenues of $7.2 million for the third quarter of 2024, which included $6.5 million in estimated income associated with two commercial products in our portfolio.  In the third quarter of 2023, XOMA Royalty reported total income and revenue of $0.8 million

Research and development (R&D) expenses were $0.8 million in the third quarter of 2024, reflecting transitory clinical trial costs related to KIN-3248, an asset acquired in the Kinnate acquisition, which the Company currently is winding down.  R&D expenses in the third quarter of 2023 were $25,000.

General and administrative (“G&A”) expenses were $8.0 million for the third quarter of 2024 compared with $6.4 million in the third quarter of 2023.  The increase of $1.6 million was primarily comprised of $1.4 million in total costs incurred after our acquisition of Kinnate, which included $1.1 million in legal and consulting costs, $0.1 million in information technology costs, and $0.1 million in insurance costs.  The remainder of the increased G&A expense reflects an increase of $0.2 million for salaries and related costs.

In the third quarter of 2024, as a result of communications with Agenus, XOMA Royalty evaluated the status of the partnered programs underlying the Agenus Royalty Purchase Agreement for potential impairment and recorded a one-time, non-cash impairment charge of $14.0 million and a reduction of royalty receivables of $14.0 million associated with Agenus.

In the third quarters of 2024 and 2023, G&A expenses included $2.6 million and $2.7 million, respectively, in non-cash stock-based compensation expenses.

Total interest expense in the third quarter of 2024 was $3.5 million, representing interest and costs related to the Blue Owl Loan established in December 2023.

The Company reported total other income, net, of $1.9 million in the third quarter of 2024, as compared to total other income, net, of $0.3 million in the corresponding period of 2023.  The $1.6 million increase reflects a $1.3 million increase in investment income due to higher balances on our investments and the change in the market price for XOMA Royalty’s shares of Rezolute common stock.

Net loss for the third quarter of 2024 was $17.2 million, compared to a net loss of $5.5 million for the third quarter of 2023, primarily resulting from the $14.0 million non-cash impairment related to the Agenus Royalty Purchase Agreement.

On September 30, 2024, XOMA Royalty had cash and cash equivalents of $146.8 million (including $4.8 million in restricted cash).  On December 31, 2023, XOMA Royalty had cash and cash equivalents of $159.6 million (including $6.3 million in restricted cash).  During the third quarter of 2024, XOMA Royalty received $9.9 million in cash from royalty and commercial payments.  Net cash used in operating activities during the quarter was $8.6 million.  On October 15, 2024, the Company paid a total of $1.4 million in cash dividends on the 8.625% Series A Cumulative Perpetual Preferred Stock (Nasdaq: XOMAP) and the 8.375% Series B Cumulative Perpetual Preferred Stock (Nasdaq: XOMAO).

About XOMA Royalty Corporation

XOMA Royalty is a biotechnology royalty aggregator playing a distinctive role in helping biotech companies achieve their goal of improving human health.  XOMA Royalty acquires the potential future economics associated with pre-commercial and commercial therapeutic candidates that have been licensed to pharmaceutical or biotechnology companies.  When XOMA Royalty acquires the future economics, the seller receives non-dilutive, non-recourse funding they can use to advance their internal drug candidate(s) or for general corporate purposes.  The Company has an extensive and growing portfolio of assets (asset defined as the right to receive potential future economics associated with the advancement of an underlying therapeutic candidate).  For more information about the Company and its portfolio, please visit www.xoma.com or follow XOMA Royalty Corporation on LinkedIn.

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 timing and amount of potential commercial payments to XOMA Royalty and other developments related to VABYSMO® (faricimab-svoa), OJEMDA™ (tovorafenib), MIPLYFFA™ (arimoclomol), XACIATO™ (clindamycin phosphate) vaginal gel 2%, IXINITY® [coagulation factor IX (recombinant)], and DSUVIA® (sufentanil sublingual tablet); the potential occurrences of the events listed under “Anticipated 2024 Events of Note”; the anticipated timings of regulatory filings and approvals related to assets in XOMA Royalty’s portfolio; and the potential of XOMA Royalty’s portfolio of partnered programs and licensed technologies generating substantial milestone and royalty proceeds over time.  In some cases, you can identify such forward-looking statements by terminology such as “anticipate,” “intend,” “believe,” “estimate,” “plan,” “seek,” “project,” “expect,” “may,” “will”, “would,” “could” or “should,” the negative of these terms or similar expressions.  These forward-looking statements are not a guarantee of XOMA Royalty’s performance, and you should not place undue reliance on such statements.  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; and 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 Royalty meeting these expectations are described in more detail in XOMA Royalty's most recent filing on Form 10-Q and in other filings with the Securities and Exchange Commission.  Consider such risks carefully when considering XOMA Royalty's prospects.  Any forward-looking statement in this press release represents XOMA Royalty's beliefs and assumptions 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 Royalty 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.

As of the date of this press release, the commercial assets in XOMA Royalty’s milestone and royalty portfolio are VABYSMO® (faricimab-svoa), OJEMDA™ (tovorafenib), MIPLYFFA™ (arimoclomol), XACIATO™ (clindamycin phosphate) vaginal gel 2%, IXINITY® [coagulation factor IX (recombinant)], and DSUVIA® (sufentanil sublingual tablet).  All other assets in the milestone and royalty portfolio are investigational compounds.  Efficacy and safety have not been established.  There is no guarantee that any of the investigational compounds will become commercially available.

XOMA ROYALTY CORPORATION
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(unaudited)
(in thousands, except per share amounts)
         
  Three Months Ended
September 30,
 Nine Months Ended
September 30,
   2024   2023   2024   2023 
Income and revenues:        
Income from purchased receivables $6,463  $  $11,895  $ 
Revenue from contracts with customers  25   225   6,050   1,350 
Revenue recognized under units-of-revenue method  709   605   1,828   1,575 
Total income and revenues  7,197   830   19,773   2,925 
         
Operating expenses:        
Research and development  817   25   2,011   118 
General and administrative  8,020   6,368   27,485   18,341 
Royalty purchase agreement asset impairment  14,000      23,000   1,575 
Arbitration settlement costs           4,132 
Amortization of intangible assets     224      673 
Total operating expenses  22,837   6,617   52,496   24,839 
         
Loss from operations  (15,640)  (5,787)  (32,723)  (21,914)
         
Other income (expense):        
Gain on the acquisition of Kinnate        19,316    
Change in fair value of embedded derivative related to RPA        8,100    
Interest expense  (3,493)     (10,446)   
Other income (expense), net  1,890   278   5,900   1,192 
Net loss $(17,243) $(5,509) $(9,853) $(20,722)
         
Net loss attributable to common stockholders, basic $(18,611) $(6,877) $(13,957) $(24,826)
Basic net loss per share attributable to common stockholders $(1.59) $(0.60) $(1.20) $(2.17)
Weighted average shares used in computing basic net loss per share attributable to common stockholders  11,712   11,473   11,645   11,466 
         
Net loss attributable to common stockholders, diluted $(18,611) $(6,877) $(13,957) $(24,826)
Diluted net loss per share attributable to common stockholders $(1.59) $(0.60) $(1.20) $(2.17)
Weighted average shares used in computing diluted net loss per share attributable to common stockholders  11,712   11,473   11,645   11,466 


XOMA ROYALTY CORPORATION
CONDENSED CONSOLIDATED BALANCE SHEETS
(in thousands, except share and per share amounts)
     
  September 30, December 31,
   2024   2023 
ASSETS (unaudited)
  
Current assets:    
Cash and cash equivalents $142,050  $153,290 
Short-term restricted cash  80   160 
Short-term equity securities  785   161 
Trade and other receivables, net  1,045   1,004 
Short-term royalty and commercial payment receivables  12,682   14,215 
Prepaid expenses and other current assets  2,379   483 
Total current assets  159,021   169,313 
Long-term restricted cash  4,686   6,100 
Property and equipment, net  34   25 
Operating lease right-of-use assets  335   378 
Long-term royalty and commercial payment receivables  54,207   57,952 
Exarafenib milestone asset  3,125    
Other assets - long term  1,932   533 
Total assets $223,340  $234,301 
     
LIABILITIES AND STOCKHOLDERS’ EQUITY    
Current liabilities:    
Accounts payable $1,131  $653 
Accrued and other liabilities  2,451   2,768 
Contingent consideration under RPAs, AAAs, and CPPAs  4,000   7,000 
Operating lease liabilities  434   54 
Unearned revenue recognized under units-of-revenue method  1,924   2,113 
Preferred stock dividend accrual  1,368   1,368 
Current portion of long-term debt  9,826   5,543 
Total current liabilities  21,134   19,499 
Unearned revenue recognized under units-of-revenue method – long-term  5,589   7,228 
Exarafenib milestone contingent consideration  3,125    
Long-term operating lease liabilities  594   335 
Long-term debt  108,089   118,518 
Total liabilities  138,531   145,580 
     
Stockholders’ equity:    
Preferred Stock, $0.05 par value, 1,000,000 shares authorized:    
8.625% Series A cumulative, perpetual preferred stock, 984,000 shares issued and outstanding at September 30, 2024 and December 31, 2023  49   49 
8.375% Series B cumulative, perpetual preferred stock, 1,600 shares issued and outstanding at September 30, 2024 and December 31, 2023      
Convertible preferred stock, 5,003 issued and outstanding at September 30, 2024 and December 31, 2023      
Common stock, $0.0075 par value, 277,333,332 shares authorized, 11,755,223 and 11,495,492 shares issued and outstanding at September 30, 2024 and December 31, 2023, respectively  88   86 
Additional paid-in capital  1,317,657   1,311,809 
Accumulated other comprehensive income  104    
Accumulated deficit  (1,233,089)  (1,223,223)
Total stockholders’ equity  84,809   88,721 
Total liabilities and stockholders’ equity $223,340  $234,301 


XOMA ROYALTY CORPORATION
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(unaudited)
(in thousands)
       
  Nine Months Ended
September 30,
   2024   2023 
Cash flows from operating activities:      
Net loss $(9,853) $(20,722)
Adjustments to reconcile net loss to net cash used in operating activities:      
Income from purchased receivables under effective interest rate method  (9,985)   
Stock-based compensation expense  8,136   6,450 
Royalty purchase agreement asset impairment  23,000   1,575 
Gain on the acquisition of Kinnate  (19,316)   
Change in fair value of contingent consideration under RPAs, AAAs, and CPPAs     (75)
Common stock contribution to 401(k)  118   123 
Amortization of intangible assets     673 
Depreciation  8   2 
Accretion of long-term debt discount and debt issuance costs  996    
Non-cash lease expense  45   115 
Change in fair value of equity securities  (624)  121 
Change in fair value of available-for-sale debt securities classified as cash equivalents  104    
Changes in assets and liabilities:      
Trade and other receivables, net  (41)  (42)
Prepaid expenses and other assets  (72)  (202)
Accounts payable and accrued liabilities  (1,348)  (554)
Operating lease liabilities  (185)  (120)
Unearned revenue recognized under units-of-revenue method  (1,828)  (1,575)
    Net cash used in operating activities  (10,845)  (14,231)
       
Cash flows from investing activities:      
Net cash acquired in Kinnate acquisition  18,926    
Payments of consideration under RPAs, AAAs, and CPPAs  (37,000)  (14,650)
Receipts under RPAs, AAAs, and CPPAs  26,263   8,428 
Purchase of property and equipment  (17)   
    Net cash provided by (used in) investing activities  8,172   (6,222)
       
Cash flows from financing activities:      
Principal payments — debt  (6,902)   
Debt issuance costs and loan fees paid in connection with long-term debt  (740)   
Payment of preferred stock dividends  (4,104)  (4,104)
Repurchases of common stock  (13)   
Proceeds from exercise of options and other share-based compensation  4,127   208 
Taxes paid related to net share settlement of equity awards  (2,429)  (5)
    Net cash used in financing activities  (10,061)  (3,901)
       
Net decrease in cash, cash equivalents, and restricted cash  (12,734)  (24,354)
Cash, cash equivalents, and restricted cash as of the beginning of the period  159,550   57,826 
Cash, cash equivalents, and restricted cash as of the end of the period $146,816  $33,472 
       
Supplemental Cash Flow Information:     
Cash paid for interest $9,985  $ 
Right-of-use assets obtained in exchange for operating lease liabilities $  $85 
Non-cash investing and financing activities:     
Estimated initial fair value of the Exarafenib milestone asset in Kinnate acquisition $2,922  $ 
Estimated initial fair value of the Exarafenib milestone contingent consideration in Kinnate acquisition $2,922  $ 
Right-of-use assets obtained in exchange for operating lease liabilities in Kinnate acquisition $824  $ 
Relative fair value basis reduction of right-of-use assets in Kinnate acquisition $(824) $ 
Accrual of contingent consideration under the Affitech CPPA $3,000  $3,000 
Accrual of contingent consideration under the LadRx AAA $1,000    
Estimated fair value of contingent consideration under the LadRx Agreements $  $1,000 
Preferred stock dividend accrual $1,368  $1,368 


Investor contact:Media contact:
Juliane SnowdenKathy Vincent
XOMA Royalty CorporationKV Consulting & Management
+1-646-438-9754+1-310-403-8951
juliane.snowden@xoma.comkathy@kathyvincent.com


_____________________________________
¹ https://ir.rezolutebio.com/news/detail/339/fda-lifts-partial-clinical-holds-on-rz358-for-the-treatment-of-congenital-hyperinsulinism-and-authorizes-u-s-inclusion-in-ongoing-phase-3-study
² https://ir.rezolutebio.com/news/detail/337/rezolute-announces-fda-clearance-of-ind-application-for-phase-3-registrational-study-of-rz358-for-treatment-of-hypoglycemia-due-to-tumor-hyperinsulinism
³ https://www.jnj.com/media-center/press-releases/neoadjuvant-tar-200-plus-cetrelimab-nearly-doubles-the-pathological-complete-response-rate-compared-to-cetrelimab-alone-in-patients-with-muscle-invasive-bladder-cancer
⁴ https://www.jnj.com/media-center/press-releases/johnson-johnson-statement-on-the-sunrise-2-study


FAQ

What was XOMA's revenue in Q3 2024?

XOMA reported total income and revenues of $7.2 million in Q3 2024, including $6.5 million from commercial products.

Why did XOMA stock report a net loss in Q3 2024?

XOMA reported a $17.2 million net loss primarily due to a $14.0 million non-cash impairment charge related to the Agenus Royalty Purchase Agreement.

What major FDA approval did XOMA receive in Q3 2024?

MIPLYFFA™ (arimoclomol) received FDA approval for treatment of Niemann-Pick disease Type C, becoming XOMA's sixth commercial asset.

How much cash does XOMA have as of Q3 2024?

XOMA had cash and cash equivalents of $146.8 million, including $4.8 million in restricted cash, as of September 30, 2024.

XOMA Royalty Corporation

NASDAQ:XOMA

XOMA Rankings

XOMA Latest News

XOMA Stock Data

360.97M
11.70M
0.51%
66.16%
1.93%
Biotechnology
Pharmaceutical Preparations
Link
United States of America
EMERYVILLE