Business
XOMA Reports Fourth Quarter and Full Year 2023 Financial Results and Highlights Recent and Upcoming Events Expected to Drive Shareholder Value
Raised up to $140 million of non-dilutive non-recourse capital through a royalty-backed loan related to VABYSMO® from funds managed by Blue Owl Capital
About this update from Xoma Royalty Corporation
[{"type":"text","content":"Raised up to $140 million of non-dilutive non-recourse capital through a royalty-backed loan related to VABYSMO® from funds managed by Blue Owl Capital Received $15.5 million in cash payments related to our growing royalty base and the achievement of certain development milestones during 2023 Added third commercial asset to XOMA’s portfolio with the acquisition of economic interests in DSUVIA® (sufentanil sublingual tablet) in January 2024 Closed 2023 with two partners’ New Drug Applications (NDA) submitted to the U.S. Food and Drug Administration (FDA) EMERYVILLE, Calif., March 08, 2024 (GLOBE NEWSWIRE) -- XOMA Corporation (Nasdaq: XOMA), the biotech royalty aggregator, reported its fourth quarter and full year 2023 financial results and highlighted portfolio activities expected to drive long-term shareholder value. “Over the course of 2023, we continued to build the foundation for future growth, spearheaded by the $140 million royalty-backed financing of VABYSMO® in the fourth quarter,” stated Owen Hughes, Chief Executive Officer of XOMA. “We entered 2024 with the strongest cash position in the Company’s history, several key upcoming clinical and regulatory events, including the potential approvals of Day One’s tovorafenib and Zevra Therapeutics’ arimoclomol NDAs, and a growing pipeline of asset opportunities.” Key Fourth Quarter Events PartnerEventDay One Biopharmaceuticals Tovorafenib NDA accepted by U.S. Food and Drug Administration (FDA), resulting in XOMA’s receipt of a $5 million milestone payment from ViractaTovorafenib data presented at the Society of Neuro-Oncology Annual Meeting and published in Nature Medicine Zevra TherapeuticsResubmitted the arimoclomol NDA with FDAMedexusPediatric label expansion application for IXINITY® accepted for review by FDARezolute Launched RZ358 Phase 3 studyReceived Priority Medicines (PRIME) eligibility from European Medicines Agency AstraZenecaLaunched and dosed first patient in rilvegostomig Phase 3 studyLG Chem (AVEO Oncology)Launched ficlatuzumab Phase 3 studyOrganonAnnounced intent to terminate ebopiprant License Agreement Anticipated 2024 Events of Note PartnerEventDay One Biopharmaceuticals April 30, 2024 – FDA action date for tovorafenib NDAZevra TherapeuticsSeptember 21, 2024 – FDA action date for arimoclomol NDAMedexusFDA decision regarding IXINITY® pediatric label expansion F...