Business
XOMA Reports Fourth Quarter and Full-Year 2019 Financial Results and Operating Highlights
Added more than 20 new partner-funded programs in 2019 with potential for milestone and royalty payments Received $15.8 million from partners during the year
About this update from Xoma Royalty Corporation
[{"type":"text","content":"Added more than 20 new partner-funded programs in 2019 with potential for milestone and royalty payments Received $15.8 million from partners during the year Current cash balance sufficient to fund operations for multiple years\n EMERYVILLE, Calif., March 10, 2020 (GLOBE NEWSWIRE) -- XOMA Corporation (Nasdaq: XOMA) announced its fourth quarter and full-year 2019 financial results and business highlights. “2019 was a tremendous year for XOMA. We added 20 new assets to our royalty license portfolio, eleven of which are clinical-stage candidates. One of our licensees, Janssen Biotech, conducted a portfolio review and identified multiple compounds that were born from an agreement between our companies. As we are constructing XOMA’s portfolio to generate royalty candidates over an extended time horizon, we acquired interests in two exciting platform technologies that we believe will produce multiple clinical candidates to further increase our royalty license portfolio. We entered 2020 with a royalty-potential portfolio of more than 65 partner-funded assets,” stated Jim Neal, Chief Executive Officer at XOMA. “Our business model has the potential to generate significant revenue from milestone payments and royalties. In 2019, we received $15.8 million from our partners. Given our royalty acquisition achievements over the last three years and the opportunities before us, we raised an additional $22 million in a rights offering at the end of the year. We anticipate we will deploy this capital to continue building XOMA’s royalty-interest and milestone-bearing portfolio.” Business HighlightsXOMA completed four milestone and royalty acquisition transactions in 2019 that added eleven new potential royalty-bearing assets and interests in two platform technologies to the Company’s portfolio. Acquired a milestone and royalty interest in two Bayer assets, one Bayer option, and two unpartnered candidates from Aronora.Acquired a royalty interest in one Novartis asset and five clinical-stage assets from Palobiofarma.Acquired royalty interest in platform technologies being developed at Bioasis Technologies and Sonnet BioTherapeutics.Added nine Janssen Biotech assets to XOMA’s royalty portfolio.Received $15.8 million from partners during 2019.Completed a $22 million rights offering with XOMA stockholders including BVF Partners, LP. 2019 Updates About ...