Business
XOMA Royalty Reports Second Quarter 2024 Financial Results and Highlights Recent Activities
Cash receipts totaled $22.6 million in 2Q24, inclusive of royalty income and milestones from Day One Pharmaceuticals and Rezolute Expanded the commercial
About this update from Xoma Royalty Corporation
[{"type":"text","content":"Cash receipts totaled $22.6 million in 2Q24, inclusive of royalty income and milestones from Day One Pharmaceuticals and Rezolute Expanded the commercial royalty and milestone portfolio with the acquisition of economic interests in XACIATO™ (clindamycin phosphate) vaginal gel 2%, and two novel Phase 3 assets, from Daré Bioscience Completed the acquisition of Kinnate Pharmaceuticals, adding several potential royalty streams, as well as more than $9.5 million in non-dilutive capital EMERYVILLE, Calif., Aug. 13, 2024 (GLOBE NEWSWIRE) -- 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 EventDay 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 p...