Welcome to our dedicated page for XOMA Royalty Corporation 8.625% Series A Cumulative Perpetual Preferred Stock news (Ticker: XOMAP), a resource for investors and traders seeking the latest updates and insights on XOMA Royalty Corporation 8.625% Series A Cumulative Perpetual Preferred Stock stock.
XOMA Corporation (NASDAQ: XOMA) is a biotechnology royalty aggregator that acquires future economic rights associated with pre-commercial therapeutic candidates licensed to pharmaceutical or biotech companies. The company has a diverse portfolio of assets, including XACIATO™ for bacterial vaginosis treatment and OJEMDA™ for pediatric low-grade glioma treatment. XOMA's recent acquisitions from Daré Bioscience and Day One Biopharmaceuticals have expanded its commercial assets and potential royalties. With a strategic approach to capital deployment and a focus on driving sustainable free cash flow, XOMA aims to contribute to improving human health through innovative therapies.
Rhea-AI Summary
XOMA successfully completed its tender offer to acquire all outstanding shares of Kinnate Biopharma Inc., offering $2.5879 per share in cash plus a contingent value right. The offer included the right to receive 85% of net proceeds from any out license or sale of Kinnate programs within a year of the merger and 100% of net proceeds from the sale of certain assets to Pierre Fabre Laboratories.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-1.97%
Tags
-
Rhea-AI Summary
XOMA (Nasdaq: XOMA) announces cash dividends for its Series A and Series B Cumulative Preferred Stock. Holders of Series A to receive $0.53906 per share, and Series B holders to receive $0.52344 per depositary share.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.37%
Tags
-
Rhea-AI Summary
XOMA is set to acquire Kinnate Biopharma Inc., adding $9.5 million in cash to its balance sheet and expanding its early-stage programs. The merger agreement includes a cash price per share of $2.5879 for Kinnate stockholders, with the Offer extended until April 2, 2024. The acquisition is subject to certain conditions and is expected to close in April 2024.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-2.3%
Tags
Rhea-AI Summary
XOMA Corporation reported strong financial results for Q4 and full year 2023, highlighted by raising $140 million in non-dilutive capital, adding a new commercial asset to their portfolio, and achieving key milestones with partners. The company ended the year with a robust cash position, anticipating significant clinical and regulatory events in 2024.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-1.63%
Tags
-
Rhea-AI Summary
XOMA Corporation announces participation in upcoming investor conferences in March 2024, with key executives presenting at TD Cowen Health Care Conference and Leerink Partners Global Biopharma Conference.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
2.42%
Tags
-
Rhea-AI Summary
XOMA Corporation announced the acquisition of Kinnate Biopharma Inc. for a base cash price of $2.3352 per share, potentially adding $9.5 million in cash to its balance sheet. The deal includes a contingent value right (CVR) and aims to enhance XOMA's royalty portfolio. The acquisition is expected to close in April 2024.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
4.28%
Tags
Rhea-AI Summary
XOMA Corporation acquires economic interest in DSUVIA® from Talphera, Inc. for $8 million, with a 15% royalty on commercial sales and a significant portion of the 75% royalty from U.S. Department of Defense purchases. XOMA is entitled to no less than 50% of the potential $116.5 million in milestone payments. DSUVIA® received Milestone C approval from the U.S. Department of Defense for use in U.S. Army sets, kits, and outfits (SKOs) and was added to the DoD Joint Deployment Formulary in September 2020. XOMA will receive 100% of all royalties and milestones related to DSUVIA® sales until the Company receives $20 million, after which XOMA fully retains the 15% royalty associated with DSUVIA® commercial sales.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-1.24%
Tags
-
Rhea-AI Summary
XOMA Corporation (NASDAQ: XOMA) announced that the FDA has accepted Zevra Therapeutics' New Drug Application for arimoclomol, a first-in-class therapy for Niemann-Pick disease type C (NPC), with a PDUFA target action date of June 21, 2024. XOMA will make a $1 million milestone payment to LadRx based on the FDA's acceptance. The company previously paid LadRx a $5 million upfront payment and acquired a mid-single digit royalty on arimoclomol's commercial sales, with potential milestone payments of up to $52.6 million, net, from Zevra. The transaction also included a royalty rate on commercial sales of aldoxorubicin and potential payments of up to $343 million in development and commercial milestones from ImmunityBio.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-2.89%
Tags
-
Rhea-AI Summary
XOMA Corporation (XOMA) announced the appointment of Owen Hughes as Chief Executive Officer and Jack L. Wyszomierski as Chairman of the Board. Hughes has been serving as XOMA's Executive Chairman and Interim CEO since January 1, 2023. The Board aims to establish XOMA as a premier biotech royalty aggregator, focusing on accelerating growth and maximizing value for stockholders. The company's growing cash receipts and maturing portfolio reflect significant inflection points within its established royalty and milestone acquisition strategy. XOMA also boasts the largest cash balance in its history.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
4.5%
Tags
Rhea-AI Summary
XOMA Corporation (Nasdaq: XOMA) announces its first stock repurchase program, authorizing the purchase of up to $50 million of common stock through January 2027. The company aims to maximize shareholder value through prudent capital allocation, leveraging future cashflow streams of its growing royalty portfolio to generate superior risk-adjusted, non-correlated returns for investors.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
12.92%
Tags
FAQ
What is the current stock price of XOMA Royalty Corporation 8.625% Series A Cumulative Perpetual Preferred Stock (XOMAP)?
The current stock price of XOMA Royalty Corporation 8.625% Series A Cumulative Perpetual Preferred Stock (XOMAP) is $25.725 as of November 4, 2024.
What does XOMA Corporation do?
XOMA is a biotechnology royalty aggregator that acquires future economic rights associated with pre-commercial therapeutic candidates licensed to pharmaceutical or biotech companies.
What are some of XOMA's recent achievements?
Recent achievements include acquiring economic interests in XACIATO™ for bacterial vaginosis treatment, OJEMDA™ for pediatric low-grade glioma treatment, and commercial assets from Daré Bioscience and Day One Biopharmaceuticals.
How does XOMA drive sustainable free cash flow?
XOMA focuses on a disciplined approach to capital deployment, strategic acquisitions, and expanding its portfolio of commercial assets and potential royalties to drive sustainable free cash flow.
What is XOMA's role in the biotech industry?
XOMA plays a distinctive role in helping biotech companies improve human health by acquiring future economic rights associated with innovative therapeutic candidates and contributing to the development of new therapies.
XOMA Royalty Corporation 8.625% Series A Cumulative Perpetual Preferred Stock