Business
CORRECTING and REPLACING -- XOMA Reports Third Quarter 2019 Royalty Asset Portfolio Highlights and Financial Results
15 new assets with royalty-bearing potential added to the portfolio during the quarter EMERYVILLE, Calif., Nov. 05, 2019 (GLOBE NEWSWIRE) -- In a release
About this update from Xoma Royalty Corporation
[{"type":"text","content":"15 new assets with royalty-bearing potential added to the portfolio during the quarter\nEMERYVILLE, Calif., Nov. 05, 2019 (GLOBE NEWSWIRE) -- In a release issued under the same headline earlier today by XOMA Corporation (Nasdaq: XOMA) please note that in the fifth paragraph of the Financial Results section of the release, the net loss of $4.6 million is for the third quarter of 2018, not the third quarter of 2019 as previously stated. The corrected release follows:\n XOMA Corporation (Nasdaq: XOMA) today reported its third quarter 2019 financial results. “XOMA’s portfolio of future potential royalty- and milestone-generating assets grew by 25% in the third quarter with the addition of 15 investigational compounds from Janssen Biotech and Palobiofarma. Since the third quarter of 2018, we have increased the number of assets in our royalty portfolio by 40%. We have firmly established XOMA as a potential source of non-dilutive, non-recourse capital among companies with partnered Phase 2 assets. We continue to assess multiple royalty monetization opportunities that could further expand and diversify our growing portfolio,” said Jim Neal, Chief Executive Officer at XOMA. Recent Updates About Partnered Assets in DevelopmentNovartis listed on ClinicalTrials.gov a Phase 2 safety and efficacy study investigating iscalimab (CFZ533) in children and young adults recently diagnosed with Type 1 diabetes. ClincialTrials.gov Identifier: NCT04129528. Janssen Biotech listed a Phase 1b study on ClinicalTrials.gov investigating JNJ-64407564 in patients with multiple myeloma. ClinicalTrials.gov Identifier: NCT04108195. Takeda opened recruitment for its Phase 1 study to evaluate subcutaneous TAK-079 added to standard of care regimens in participants with newly diagnosed multiple myeloma. ClinicalTrials.gov Identifier: NCT03984097. AVEO Pharmaceuticals listed on ClinicalTrials.gov a Phase 2 study of ficlatuzumab with high-dose cytarabine (HiDAC) and HiDAC alone in adults with relapsed or refractory acute myeloid leukemia. ClinicalTrials.gov Identifier: NCT04100330. Business HighlightsXOMA acquired a royalty interest in six clinical-stage assets targeting the adenosine pathway for $10.0 million from Palobiofarma S.L., including NIR178, which is being developed by Novartis as a novel checkpoint inhibitor for the treatment of solid tumors. Palobiofarma is...