XOMA Royalty Corporation (NASDAQ: XOMA), the biotech royalty
aggregator, reported its second quarter 2024 financial results and
highlighted recent activities.
“The second quarter was marked by pipeline progress, the
realization of several cash milestones, the addition of three
commercial or late-stage programs, and the acquisition of Kinnate
Pharmaceuticals,” stated Owen Hughes, Chief Executive Officer of
XOMA Royalty. “Most important, children suffering from
relapsed or refractory low-grade glioma (pLGG) have a new option
with the approval of Day One’s OJEMDA™, which is now our fifth
commercial royalty. And finally, with a robust cash position
in hand, we look to further solidify our foundation for future
growth via a disciplined approach to capital deployment.”
Key Second Quarter Events
Partner |
|
Event |
Day One Biopharmaceuticals |
|
The U.S. Food and Drug Administration (FDA) approved Day One’s
OJEMDA™ (tovorafenib) for use in patients with pediatric low-grade
glioma (pLGG). XOMA Royalty earned a $9.0 million milestone
upon the approval and recorded $0.4 million in income resulting
from OJEMDA™ sales in the second quarter of 2024. In
addition, XOMA Royalty received an $8.1 million payment related to
Day One’s sale of its priority review voucher. |
Daré
Bioscience |
|
XOMA Royalty added economic interests to three best- or
first-in-category assets to its portfolio. XACIATO™ vaginal
gel 2% is commercially available and marketed by Organon.
Bayer holds the U.S. rights to commercialize Ovaprene®, a
hormone-free monthly intravaginal contraceptive, currently in Phase
3 clinical trials. XOMA Royalty also acquired a synthetic
royalty in Sildenafil Cream, 3.6%, a Phase 3-ready asset for female
sexual arousal disorder. Daré recently published the efficacy
results from its Phase 2b study of Sildenafil Cream, 3.6% in the
publication Obstetrics & Gynecology. |
Rezolute |
|
RZ358 - Dosed first patient in its Phase 3 trial
of RZ358; XOMA Royalty earned a $5.0 million milestone associated
with the event. Presented Phase 2 RIZE study sub-analysis at the
2024 Pediatric Endocrine Society Annual Meeting.
RZ402 - Presented positive topline results from
its Phase 2 proof-of-concept study of RZ402 in patients with
diabetic macular edema (DME). The data indicate RZ402 could
be an effective oral therapy for patients with DME prior to
anti-VEGF injections. Rezolute announced its intention to
seek a partner for the next stage of development and future
commercialization activities. |
Takeda |
|
Announced late-breaking data from
Takeda’s Phase 2b study of mezagitamab demonstrating its potential
to transform the treatment of primary immune
thrombocytopenia1. In the study, patients receiving
mezagitamab showed rapid and sustained increases in platelet counts
that persisted 8 weeks after the last dose through to week
162. |
Kinnate Pharmaceuticals |
|
XOMA Royalty added several potential royalty streams, as well as
more than $9.5 million to its cash balance as it completed the
acquisition of Kinnate Pharmaceuticals. |
LadRx |
|
Regained development and commercialization rights to aldoxorubicin
from ImmunityBio. XOMA Royalty is eligible to receive a low
single-digit percent royalty on future sales of aldoxorubicin and a
portion of any future milestone payments LadRx receives. |
|
|
|
Subsequent Events
Partner |
|
Event |
Zevra Therapeutics |
|
FDA convened a meeting of its Genetic Metabolic Diseases Advisory
Committee (GeMDAC) on August 2, 2024, to discuss the New Drug
Application (NDA) for arimoclomol as a treatment in adults and
pediatric patients 2 years and older with Niemann-Pick Disease Type
C (NPC). The GeMDAC Advisory Committee voted favorably (11
yes, 5 no) that the data support that arimoclomol is effective in
the treatment of patients with NPC. The Committee’s
recommendation will be considered by FDA as it completes its
independent review of the arimoclomol NDA; however, the feedback
from the GeMDAC is not binding upon the Agency. |
|
|
|
Anticipated 2024 Events of Note
Partner |
|
Event |
Zevra Therapeutics |
|
September 21, 2024 – FDA PDUFA action date for
arimoclomol NDA |
Takeda |
|
In its press release dated June 22, 2024, Takeda announced plans to
initiate a global Phase 3 trial of mezagitamab in ITP in the second
half of fiscal year 2024.1 |
|
|
|
_______________1
https://www.takeda.com/newsroom/newsreleases/2024/late-breaking-data-from-phase-2b-study-of-mezagitamab/2
Kuter D, Pulanic D, et al. Safety, tolerability, and efficacy of
mezagitamab (TAK-079) in chronic or persistent primary immune
thrombocytopenia: Interim results from a phase 2, randomized,
double-blind, placebo-controlled study. In: International Society
on Thrombosis and Haemostasis (ISTH) Congress; June 22-26, 2024;
Bangkok, Thailand. Abstract LB 01.1.
Second Quarter 2024 Financial
Results
XOMA Royalty recorded total income and revenues of $11.1 million
for the second quarter of 2024, which included $4.9 million in
estimated income associated with two commercial products in our
portfolio, $0.5 million in income from the $9.0 million milestone
payment received from the FDA approval of OJEMDA, and $5.0 million
in revenue from contracts with customers related to a milestone
payment from Rezolute. In the second quarter of 2023, XOMA
Royalty reported total income and revenue of $1.7 million, which
included $1.1 million of revenue from contracts with customers
related to a milestone earned from Janssen.
Research and development (R&D) expenses were $1.2 million in
the second quarter of 2024, reflecting the ongoing clinical
activities related to Kinnate’s Phase 1 clinical trial of KIN-3248,
which XOMA Royalty assumed upon completing the Kinnate
merger. The Company expects to incur additional R&D costs
as this trial winds down in the second half of 2024. R&D
expenses in the second quarter of 2023 were $39,000.
General and administrative (“G&A”) expenses were $11.0
million for the second quarter of 2024 compared with $5.8 million
in the second quarter of 2023. The increase of $5.2 million
was driven primarily by expenses associated with our acquisition of
Kinnate, which included $3.6 million in severance costs paid to
Kinnate senior leadership, $1.0 million in consulting fees, and
$0.8 million in other administrative costs.
In the second quarter of 2024, as a result of communications
with Aronora, XOMA Royalty evaluated the status of the partnered
programs for potential impairment and recorded a one-time, non-cash
impairment charge of $9.0 million and a reduction of royalty
receivables of $9.0 million associated with Aronora. In 2023,
as a result of the announcement by Bioasis to suspend its
operations and the termination of its research collaboration and
license agreement with Chiesi, XOMA Royalty recorded a one-time,
non-cash impairment charge of $1.6 million and a reduction of $1.6
million under long-term royalty receivables in the second quarter
of 2023.
In the second quarters of 2024 and 2023, G&A expenses
included $2.7 million and $2.2 million, respectively, in non-cash
stock-based compensation expenses.
XOMA Royalty recorded a $19.3 million gain on the acquisition of
Kinnate in the second quarter of 2024 due to the fair value of net
assets that exceeded total purchase consideration.
During the second quarter of 2024, XOMA Royalty recognized an
$8.1 million change in the fair value of an embedded derivative
related to the payment of $8.1 million for the sale of a priority
review voucher by Day One that was earned pursuant to XOMA
Royalty’s RPA with Viracta.
Interest expense in the second quarter of 2024 was $3.4 million,
representing interest related to the Blue Owl Loan established in
December 2023.
The Company reported total other income, net, of $2.1 million in
the second quarter of 2024, as compared to total other income, net,
of $0.6 million in the corresponding period of 2023. The $1.5
million increase reflects a $1.2 million increase in investment
income due to higher cash balances and higher market interest rates
on our investments, as well as the change in the market price of
Rezolute’s common stock.
Net income for the second quarter of 2024 was $16.0 million,
compared to a net loss of $5.4 million for the second quarter of
2023.
On June 30, 2024, XOMA Royalty had cash and cash equivalents of
$149.9 million (including $6.0 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 second quarter of 2024, XOMA Royalty received
$22.6 million in cash from royalty and milestone payments and
deployed $22.0 million to acquire new royalty and milestone
economic interests. Net cash used in operating activities
during the quarter was $2.2 million. On July 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 CorporationXOMA 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
NotesCertain 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), XACIATO™ (clindamycin phosphate) vaginal gel 2%,
IXINITY® [coagulation factor IX (recombinant)], DSUVIA® (sufentanil
sublingual tablet), and arimoclomol; 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), 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 AND
COMPREHENSIVE LOSS |
(unaudited) |
(in thousands, except per share amounts) |
|
|
|
|
|
|
|
|
|
Three Months Ended June 30, |
|
Six Months Ended June 30, |
|
|
2024 |
|
|
|
2023 |
|
|
|
2024 |
|
|
|
2023 |
|
Income and revenues: |
|
|
|
|
|
|
|
Income from purchased receivables |
$ |
5,432 |
|
|
$ |
— |
|
|
$ |
5,432 |
|
|
$ |
— |
|
Revenue from contracts with customers |
|
5,025 |
|
|
|
1,125 |
|
|
|
6,025 |
|
|
|
1,125 |
|
Revenue recognized under units-of-revenue method |
|
629 |
|
|
|
533 |
|
|
|
1,119 |
|
|
|
970 |
|
Total income and revenues |
|
11,086 |
|
|
|
1,658 |
|
|
|
12,576 |
|
|
|
2,095 |
|
|
|
|
|
|
|
|
|
Operating expenses: |
|
|
|
|
|
|
|
Research and development |
|
1,161 |
|
|
|
39 |
|
|
|
1,194 |
|
|
|
93 |
|
General and administrative |
|
11,004 |
|
|
|
5,777 |
|
|
|
19,465 |
|
|
|
11,973 |
|
Royalty purchase agreement asset impairment |
|
9,000 |
|
|
|
1,575 |
|
|
|
9,000 |
|
|
|
1,575 |
|
Arbitration settlement costs |
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
4,132 |
|
Amortization of intangible assets |
|
— |
|
|
|
224 |
|
|
|
— |
|
|
|
449 |
|
Total operating expenses |
|
21,165 |
|
|
|
7,615 |
|
|
|
29,659 |
|
|
|
18,222 |
|
Loss from operations |
|
(10,079 |
) |
|
|
(5,957 |
) |
|
|
(17,083 |
) |
|
|
(16,127 |
) |
|
|
|
|
|
|
|
|
Other income (expense): |
|
|
|
|
|
|
|
Gain on the acquisition of Kinnate |
|
19,316 |
|
|
|
— |
|
|
|
19,316 |
|
|
|
— |
|
Change in fair value of embedded derivative related to
RPA |
|
8,100 |
|
|
|
— |
|
|
|
8,100 |
|
|
|
— |
|
Interest expense |
|
(3,402 |
) |
|
|
— |
|
|
|
(6,953 |
) |
|
|
— |
|
Other income (expense), net |
|
2,050 |
|
|
|
557 |
|
|
|
4,010 |
|
|
|
914 |
|
Net income (loss) and
comprehensive income (loss) |
$ |
15,985 |
|
|
$ |
(5,400 |
) |
|
$ |
7,390 |
|
|
$ |
(15,213 |
) |
|
|
|
|
|
|
|
|
Net income (loss) available to
(attributable to) common stockholders, basic |
$ |
10,224 |
|
|
$ |
(6,768 |
) |
|
$ |
3,253 |
|
|
$ |
(17,949 |
) |
Basic net income (loss) per
share available to (attributable to) common stockholders |
$ |
0.88 |
|
|
$ |
(0.59 |
) |
|
$ |
0.28 |
|
|
$ |
(1.57 |
) |
Weighted average shares used
in computing basic net income (loss) per share available to
(attributable) to common stockholders |
|
11,643 |
|
|
|
11,466 |
|
|
|
11,611 |
|
|
|
11,463 |
|
|
|
|
|
|
|
|
|
Net income (loss) available to
(attributable to) common stockholders, diluted |
$ |
14,617 |
|
|
$ |
(6,768 |
) |
|
$ |
4,654 |
|
|
$ |
(17,949 |
) |
Diluted net income (loss) per
share available to (attributable to) common stockholders |
$ |
0.84 |
|
|
$ |
(0.59 |
) |
|
$ |
0.27 |
|
|
$ |
(1.57 |
) |
Weighted average shares used
in computing diluted net income (loss) per share available to
(attributable) to common stockholders |
|
17,321 |
|
|
|
11,466 |
|
|
|
17,263 |
|
|
|
11,463 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
XOMA ROYALTY CORPORATION |
CONDENSED CONSOLIDATED BALANCE SHEETS |
(in thousands, except share and per share
amounts) |
|
|
|
|
|
June 30, |
|
December 31, |
|
|
2024 |
|
|
|
2023 |
|
ASSETS |
(unaudited) |
|
|
Current assets: |
|
|
|
Cash and cash equivalents |
$ |
143,904 |
|
|
$ |
153,290 |
|
Short-term restricted cash |
|
— |
|
|
|
160 |
|
Short-term equity securities |
|
696 |
|
|
|
161 |
|
Trade and other receivables, net |
|
526 |
|
|
|
1,004 |
|
Short-term royalty and commercial payment receivables |
|
14,257 |
|
|
|
14,215 |
|
Prepaid expenses and other current assets |
|
2,820 |
|
|
|
483 |
|
Total current assets |
|
162,203 |
|
|
|
169,313 |
|
Long-term restricted cash |
|
6,016 |
|
|
|
6,100 |
|
Property and equipment,
net |
|
37 |
|
|
|
25 |
|
Operating lease right-of-use
assets |
|
349 |
|
|
|
378 |
|
Long-term royalty and
commercial payment receivables |
|
69,731 |
|
|
|
57,952 |
|
Exarafenib milestone
asset |
|
2,922 |
|
|
|
— |
|
Other assets - long term |
|
2,022 |
|
|
|
533 |
|
Total assets |
$ |
243,280 |
|
|
$ |
234,301 |
|
|
|
|
|
LIABILITIES AND STOCKHOLDERS’ EQUITY |
|
|
|
Current liabilities: |
|
|
|
Accounts payable |
$ |
982 |
|
|
$ |
653 |
|
Accrued and other liabilities |
|
4,869 |
|
|
|
2,768 |
|
Contingent consideration under RPAs, AAAs and CPPAs |
|
3,000 |
|
|
|
7,000 |
|
Operating lease liabilities |
|
421 |
|
|
|
54 |
|
Unearned revenue recognized under units-of-revenue method |
|
2,259 |
|
|
|
2,113 |
|
Preferred stock dividend accrual |
|
1,368 |
|
|
|
1,368 |
|
Current portion of long-term debt |
|
5,716 |
|
|
|
5,543 |
|
Total current liabilities |
|
18,615 |
|
|
|
19,499 |
|
Unearned revenue recognized
under units-of-revenue method – long-term |
|
5,963 |
|
|
|
7,228 |
|
Exarafenib milestone
contingent consideration |
|
2,922 |
|
|
|
— |
|
Long-term operating lease
liabilities |
|
710 |
|
|
|
335 |
|
Long-term debt |
|
115,077 |
|
|
|
118,518 |
|
Total liabilities |
|
143,287 |
|
|
|
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 June 30, 2024 and December 31,
2023 |
|
49 |
|
|
|
49 |
|
8.375% Series B cumulative, perpetual preferred stock, 1,600 shares
issued and outstanding at June 30, 2024 and December 31, 2023 |
|
— |
|
|
|
— |
|
Convertible preferred stock, 5,003 issued and outstanding at June
30, 2024 and December 31, 2023 |
|
— |
|
|
|
— |
|
Common stock, $0.0075 par value, 277,333,332 shares authorized,
11,658,383 and 11,495,492 shares issued and outstanding at June 30,
2024 and December 31, 2023, respectively |
|
87 |
|
|
|
86 |
|
Additional paid-in capital |
|
1,315,703 |
|
|
|
1,311,809 |
|
Accumulated deficit |
|
(1,215,846 |
) |
|
|
(1,223,223 |
) |
Total stockholders’ equity |
|
99,993 |
|
|
|
88,721 |
|
Total liabilities and stockholders’ equity |
$ |
243,280 |
|
|
$ |
234,301 |
|
|
|
|
|
|
|
|
|
XOMA ROYALTY CORPORATION |
CONDENSED CONSOLIDATED STATEMENTS OF CASH
FLOWS |
(unaudited) |
(in thousands) |
|
|
|
|
|
|
|
Six Months Ended June 30, |
|
|
2024 |
|
|
|
2023 |
|
Cash flows from operating
activities: |
|
|
|
|
|
Net income (loss) |
$ |
7,390 |
|
|
$ |
(15,213 |
) |
Adjustments to reconcile net income (loss) to net cash used in
operating activities: |
|
|
|
|
|
Income from purchased receivables under effective interest rate
method |
|
(4,562 |
) |
|
|
— |
|
Stock-based compensation expense |
|
5,546 |
|
|
|
3,733 |
|
Royalty purchase agreement asset impairment |
|
9,000 |
|
|
|
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 |
|
— |
|
|
|
449 |
|
Depreciation |
|
5 |
|
|
|
2 |
|
Accretion of long-term debt discount and debt issuance costs |
|
508 |
|
|
|
— |
|
Non-cash lease expense |
|
29 |
|
|
|
97 |
|
Change in fair value of equity securities |
|
(535 |
) |
|
|
15 |
|
Changes in assets and liabilities: |
|
|
|
|
|
Trade and other receivables, net |
|
478 |
|
|
|
(900 |
) |
Prepaid expenses and other assets |
|
(603 |
) |
|
|
(97 |
) |
Accounts payable and accrued liabilities |
|
921 |
|
|
|
(769 |
) |
Operating lease liabilities |
|
(82 |
) |
|
|
(102 |
) |
Unearned revenue recognized under units-of-revenue method |
|
(1,117 |
) |
|
|
(970 |
) |
Net cash used in operating activities |
|
(2,220 |
) |
|
|
(12,132 |
) |
|
|
|
|
|
|
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 |
|
16,741 |
|
|
|
2,934 |
|
Purchase of property and equipment |
|
(17 |
) |
|
|
— |
|
Net cash used in investing activities |
|
(1,350 |
) |
|
|
(11,716 |
) |
|
|
|
|
|
|
Cash flows from financing
activities: |
|
|
|
|
|
Principal payments — debt |
|
(3,616 |
) |
|
|
— |
|
Debt issuance costs and loan fees paid in connection with long-term
debt |
|
(661 |
) |
|
|
— |
|
Payment of preferred stock dividends |
|
(2,736 |
) |
|
|
(2,736 |
) |
Repurchases of common stock |
|
(13 |
) |
|
|
— |
|
Proceeds from exercise of options and other share-based
compensation |
|
2,353 |
|
|
|
208 |
|
Taxes paid related to net share settlement of equity awards |
|
(1,387 |
) |
|
|
(5 |
) |
Net cash used in financing activities |
|
(6,060 |
) |
|
|
(2,533 |
) |
|
|
|
|
|
|
Net decrease in cash, cash
equivalents and restricted cash |
|
(9,630 |
) |
|
|
(26,381 |
) |
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 |
$ |
149,920 |
|
|
$ |
31,445 |
|
|
|
|
|
|
|
Supplemental Cash Flow
Information: |
|
|
|
|
Cash paid for interest |
$ |
3,780 |
|
|
$ |
— |
|
Right-of-use assets obtained in exchange for operating lease
liabilities |
$ |
— |
|
|
$ |
85 |
|
Non-cash investing and
financing activities: |
|
|
|
|
Estimated fair value of the Exarafenib milestone asset |
$ |
2,922 |
|
|
$ |
— |
|
Estimated fair value of the Exarafenib milestone contingent
consideration |
$ |
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 |
|
|
$ |
— |
|
Estimated fair value of contingent consideration under the LadRx
Agreements |
$ |
— |
|
|
$ |
1,000 |
|
Preferred stock dividend accrual |
$ |
1,368 |
|
|
$ |
1,368 |
|
|
|
|
|
|
|
|
|
Investor contact:Juliane SnowdenXOMA
Royalty+1-646-438-9754juliane.snowden@xoma.com |
|
Media contact:Kathy VincentKV Consulting &
Management+1-310-403-8951kathy@kathyvincent.com |
|
|
|
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