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XOMA Corp
NASDAQ:XOMA

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XOMA Corp
NASDAQ:XOMA
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Price: 38.65 USD 5.2% Market Closed
Market Cap: $478.5m

XOMA Corp
Investor Relations

XOMA Corp. engages in the discovery and development of therapeutics derived from platform of antibody technologies. The company is headquartered in Emeryville, California and currently employs 12 full-time employees. The firm's drug royalty aggregator business is focused on early to mid-stage clinical assets primarily in Phase I and II. XOMA acquires pre-commercial therapeutic candidates that are licensed to pharmaceutical or biotechnology companies. The firm's portfolio of partner-funded programs spans multiple stages of the drug development process and across various therapeutic areas. The firm's royalty-aggregator business includes acquiring additional licenses to programs with third-party funding and has more than 70 assets. XOMA royalty portfolio includes NIS793, anti-transforming growth factor-beta (TGFb) antibody program; gevokizumab (VPM087); mezagitamab (TAK-079), iscalimab (CFZ533), and MK-4830.

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Last Earnings Call
Fiscal Period
Q4 2025
Call Date
Mar 18, 2026
AI Summary
Q4 2025

Performance: XOMA reported full year total GAAP income and revenue of $52.1 million and GAAP net income of $31.7 million for 2025, a swing from a $13.8 million GAAP net loss in 2024.

Revenue mix: Total cash receipts were $50.5 million, including $34 million of royalty receipts (up 68% year-over-year), and portfolio receipts surpassed $50 million in 2025.

Portfolio build: The company added 22 assets in 2025, growing the portfolio from ~60 assets in 2023 to over 120 today, with 7 commercial programs and 14 registrational-stage programs.

Capital allocation: XOMA deployed ~$25 million to acquire royalty and milestone rights, returned $16 million via buybacks (retiring ~648,000 shares, ~5% of shares outstanding) and ended the year with ~ $83 million of unrestricted cash.

Clinical risk: Two Phase III setbacks (Rezolute in congenital hyperinsulinism and Gossamer seralutinib in PAH) occurred but both companies plan FDA discussions and further analysis; several late-stage catalysts are expected in 2026.

Strategic deals: Executed a December revenue-share transaction with Takeda (9 programs) and transactions with BioInvent, Generation Bio and others to add potential royalties/milestones (Takeda-related milestone potential up to $853 million across 9 assets noted).

Litigation: XOMA initiated litigation against Janssen (Tremfya) asserting breach of contract and unjust enrichment; management and advisers express confidence but note litigation uncertainty.

Outlook: Management expects royalties from currently approved products alone could cover breakeven operating cash flows by 2027 if current trends continue.

Key Financials
Total GAAP income and revenue
$52.1 million
Total cash receipts
$50.5 million
Royalty receipts
$34 million
GAAP net income
$31.7 million
G&A expenses
$36 million
Stock-based compensation (G&A component)
$9.3 million
GAAP R&D expense
$1.7 million
Interest expense
$13 million
Investment income
$3.5 million
Amortization expense
$3.0 million
Accounting gains from acquisitions
$21.2 million
Gain on sale of equity securities
$3.7 million
Unrestricted cash and cash equivalents
approximately $83 million
Blue Owl loan principal
$112.5 million
Share repurchases
$16 million
Upfront cash deployed for new assets
$25 million
Number of new assets added in 2025
22 assets
Commercial programs in portfolio
7 programs
Registrational-stage programs
14 programs
Potential milestone pool from Takeda transaction
up to $853 million
Earnings Call Recording
Other Earnings Calls
2025

Management

Mr. Owen P. Hughes Jr.
CEO & Director
No Bio Available
Mr. Thomas M. Burns
Senior VP of Finance & CFO
No Bio Available
Mr. Brad Sitko
Chief Investment Officer
No Bio Available

Contacts

Address
CALIFORNIA
Emeryville
2200 Powell St Ste 310
Contacts
+15102047239.0
www.xoma.com
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