Business
XOMA Reports Full-Year 2022 Financial Results and Provides Update to the Acceleration of its Differentiated Royalty Monetization Strategy
2022 was the first year with cash receipts from a commercial asset since becoming a royalty aggregator Ebopiprant royalty and milestone license acquisition
About this update from Xoma Royalty Corporation
[{"type":"text","content":"2022 was the first year with cash receipts from a commercial asset since becoming a royalty aggregator Ebopiprant royalty and milestone license acquisition gives XOMA the potential to earn up to $378 million, net, in milestones plus mid-single digit to low teens royalties, net, from Organon The Executive Leadership Team additions of Owen Hughes and Brad Sitko bring royalty investment and portfolio management expertise to increase shareholder value from XOMA’s future acquisitions Royalty portfolio is maturing to the point where XOMA has potential for cash flows from two commercial assets in 2024 EMERYVILLE, Calif., March 09, 2023 (GLOBE NEWSWIRE) -- XOMA Corporation (NASDAQ: XOMA), the Biotech Royalty Aggregator, reported its full year 2022 financial results and provided an operational update on the Company’s actions to accelerate XOMA’s differentiated biotech royalty and milestone acquisition strategy. “Since joining the Company in January, Brad Sitko and I have continually been impressed by the opportunities in front of XOMA. After having a significant number of royalty and milestone acquisition conversations since January, we are making decisions thoughtfully and rapidly about the opportunities on which we want to transact. We are assessing each potential opportunity with an eye to maximizing shareholder returns,” stated Owen Hughes, Executive Chairman of XOMA. “With cash receipts from Vabysmo® (faricimab) and Day One’s public comments regarding filing a New Drug Application for tovorafenib in the first half of 2023, XOMA could be reporting incoming cash from two portfolio assets by the end of 2024. Our economic interests in both these assets were acquired within the past two years. In addition, we have learned from our partners’ public statements there also may be three assets entering Phase 3 development in 2023, which would further increase the value of XOMA’s portfolio. Those are just a few examples of the progression within the more than 70 royalty and milestone assets in our portfolio. With the potential incoming cash receipts from commercialized assets and anticipated milestone payments, we have the ability to accelerate our royalty acquisition strategy and continue to grow XOMA’s portfolio,” said Brad Sitko, Chief Investment Officer of XOMA. Fourth Quarter and Full Year 2022 Financial Results Revenues for the fourth qu...