{"id":523954,"date":"2021-08-05T07:33:37","date_gmt":"2021-08-05T11:33:37","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/xoma-reports-second-quarter-2021-financial-results-and-highlights-recent-operational-events\/"},"modified":"2021-08-05T07:33:37","modified_gmt":"2021-08-05T11:33:37","slug":"xoma-reports-second-quarter-2021-financial-results-and-highlights-recent-operational-events","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/xoma-reports-second-quarter-2021-financial-results-and-highlights-recent-operational-events\/","title":{"rendered":"XOMA Reports Second Quarter 2021 Financial Results and Highlights Recent Operational Events"},"content":{"rendered":"
\n

\n Added six assets to its portfolio of potential milestone and royalty assets in 2021<\/em>
\n \n <\/p>\n

\n Company earned $0.5 million milestone as Janssen asset entered Phase 3 development<\/em>\n <\/p>\n

\n NIS793 in combination with standard of care chemotherapy was granted Orphan Drug Designation for the treatment pancreatic cancer<\/em>\n <\/p>\n

\n DAY101 received Rare Pediatric Disease Designation for the treatment of pediatric low-grade glioma<\/em>\n <\/p>\n

\n XOMA raised $40 million through its Series B Perpetual Preferred Stock offering paying 8.375% dividend<\/em>\n <\/p>\n

\n Board of Directors declared quarterly dividend payments for XOMAP and XOMAO<\/em>\n <\/p>\n

\n Company paid off all outstanding debt and ended the second quarter of 2021 with $78.9 million in cash <\/em>\n <\/p>\n

EMERYVILLE, Calif., Aug. 05, 2021 (GLOBE NEWSWIRE) — XOMA Corporation (Nasdaq: XOMA) reported its second quarter 2021 financial results and provided a recent operations update.<\/p>\n

\u201cThe events we have announced over the past four months reflect many more months of hard work by our team and our partners.\u00a0 On the acquisition side of our potential milestone and royalty asset business, we added Day One Biopharmaceuticals\u2019 DAY101 (pan-RAF kinase inhibitor), Checkmate Pharmaceuticals\u2019 vidotulimod (CMP-001), and Denovo Biopharma\u2019s vosaroxin (topoisomerase II inhibitor) to our growing list of partner-funded assets.\u00a0 XOMA\u2019s legacy technology license agreements resulted in the addition of three clinical-stage assets being developed by Affimed to our portfolio,\u201d stated Jim Neal, Chief Executive Officer of XOMA.<\/p>\n

\u201cOur asset partners also have had successes with assets in XOMA\u2019s portfolio.\u00a0 In May, Janssen launched a Phase 3 study with cetrelimab (anti-PD-1 monoclonal antibody).\u00a0 In conjunction with the first NIS793 (anti-TGF\u03b2 monoclonal antibody) clinical data presentation at ASCO in June, Novartis announced its intention to begin a Phase 3 study with NIS793 later in 2021.\u00a0 Also at ASCO, AVEO reported data from the ficlatuzumab Phase 2 study in head and neck squamous cell carcinoma and its desire to move ficlatuzumab into Phase 3 development.\u00a0 Last week, we were pleased to learn of two important designations granted by the FDA.\u00a0 NIS793 in combination with standard of care chemotherapy now has Orphan Drug Designation for the treatment of pancreatic cancer, and Day One Pharmaceuticals announced DAY101 has received Rare Pediatric Drug Designation for the treatment of pediatric low-grade glioma.\u00a0 Each of our license partners continues to invest significant resources to bring potential new therapies one step closer to physicians and patients.\u00a0\u00a0<\/p>\n

\u201cToday, we have a very strong balance sheet, which is debt free and paired with a lean expense structure.\u00a0 Our April offering of Series B Perpetual Preferred Stock, which pays an 8.375% dividend, raised an additional $40 million.\u00a0 At the end of the second quarter, we had $78.9 million in cash. In July, we paid dividends on both the XOMAP and XOMAO Perpetual Preferred Stocks.<\/p>\n

\u201cWe look forward to continued progress by our team and by our partners,\u201d Mr. Neal concluded.<\/p>\n

\n Financial Results<\/strong>
\n
XOMA recorded total revenues of $0.9 million for the second quarter of 2021, compared to $0.4 million for the second quarter of 2020.\u00a0 The increase for the three months ended June 30, 2021, as compared to the same period in 2020, was primarily due to $0.5 million in revenue recognized in the second quarter of 2021 related to a milestone event under XOMA\u2019s license agreement with Janssen.<\/em><\/p>\n

Research and development expenses were $38,000 for both second quarters of 2021 and 2020.<\/p>\n

General and administrative (\u201cG&A\u201d) expenses were $3.9 million for the second quarter of 2021, compared to $3.6 million for the second quarter of 2020.\u00a0 The increase of $0.3 million for the three months ended June 30, 2021, as compared to the same period of 2020, was primarily due to a $0.3 million increase in salaries and related expenses.\u00a0\u00a0<\/p>\n

In the second quarter of 2021, G&A expenses included $0.8 million in non-cash stock-based compensation expense, which was consistent with the second quarter of 2020.\u00a0 The Company\u2019s net cash used in operations in the second quarter of 2021 was $4.0 million, as compared with $2.9 million during the second quarter of 2020.<\/p>\n

In the second quarter of 2021, XOMA recorded $0.2 million in total interest expense, as compared to $0.5 million in the corresponding period of 2020.\u00a0 In June 2021, the Company repaid its outstanding debt obligations to Silicon Valley Bank and Novartis in full and recognized a $0.3 million non-cash loss on the extinguishment of debt.<\/p>\n

For the quarters ended June 30, 2021 and 2020, XOMA recorded total other income of $1.3 million, and $0.1 million, respectively, reflecting the change in the fair value of equity securities.<\/p>\n

Net loss for the second quarter of 2021 was $2.2 million, compared to net loss of $3.5 million for the second quarter of 2020.<\/p>\n

On June 30, 2021, XOMA had cash of $78.9 million.\u00a0 The Company ended December 31, 2020, with cash of $84.2 million.\u00a0 On April 12, 2021, XOMA announced the closing of its Depositary Shares Offering and the exercise of the underwriters\u2019 option, which resulted in approximately $38.0 million after deducting underwriting discounts and commissions, but before expenses.\u00a0 On April 15, 2021, the Company paid its first dividend on Series A Cumulative Perpetual Preferred (Nasdaq: XOMAP) in the amount of $0.71875 per share.\u00a0 The Company continues to believe its current cash position will be sufficient to fund XOMA\u2019s operations for multiple years.<\/p>\n

\n About XOMA Corporation<\/strong>
\n
XOMA is a biotechnology royalty aggregator playing a unique role in helping biotech companies achieve their goal of improving human health.\u00a0 XOMA acquires the potential future economics associated with pre-commercial therapeutic candidates that have been licensed to pharmaceutical or biotechnology companies.\u00a0 When XOMA acquires the future economics, the seller receives non-dilutive, non-recourse funding they can use to advance their internal drug candidate(s) or for general corporate purposes.\u00a0 The Company has an extensive and growing portfolio with more than 70 assets (asset defined as the right to receive potential future economics associated with the advancement of an underlying therapeutic candidate).\u00a0 For more information about the Company and its portfolio, please visit www.xoma.com.<\/p>\n

\n Forward-Looking Statements\/Explanatory Notes<\/strong>
\n
Certain statements contained in this press release are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, including statements regarding the potential of XOMA\u2019s portfolio of partnered programs and licensed technologies generating substantial milestone and royalty proceeds over time, creating additional value for the stockholders, cash sufficiency forecast, economic outlook, and potential impact of the COVID-19 pandemic.\u00a0\u00a0 In some cases, you can identify such forward-looking statements by terminology such as \u201canticipate,\u201d \u201cintend,\u201d \u201cbelieve,\u201d \u201cestimate,\u201d \u201cplan,\u201d \u201cseek,\u201d \u201cproject,\u201d \u201cexpect,\u201d \u201cmay,\u201d \u201cwill, \u201cwould,\u201d \u201ccould\u201d or \u201cshould,\u201d the negative of these terms or similar expressions.\u00a0 These forward-looking statements are not a guarantee of\u00a0XOMA\u2019s\u00a0performance, and you should not place undue reliance on such statements.\u00a0 These statements are based on assumptions that may not prove accurate, and actual results could differ materially from those anticipated due to certain risks inherent in the biotechnology industry, including those related to the fact that our product candidates subject to out-license agreements are still being developed, and our licensees may require substantial funds to continue development which may not be available; we do not know whether there will be, or will continue to be, a viable market for the products in which we have an ownership or royalty interest; if the therapeutic product candidates to which we have a royalty interest do not receive regulatory approval, our third-party licensees will not be able to market them, and the impact to the global economy as a result of the COVID-19 pandemic.\u00a0 Other potential risks to XOMA meeting these expectations are described in more detail in XOMA’s most recent filing on Form 10-K and in other SEC filings.\u00a0 Consider such risks carefully when considering XOMA’s prospects.\u00a0 Any forward-looking statement in this press release represents XOMA’s beliefs and assumptions only as of the date of this press release and should not be relied upon as representing its views as of any subsequent date.\u00a0 XOMA disclaims any obligation to update any forward-looking statement, except as required by applicable law.<\/p>\n

EXPLANATORY NOTE: Any references to \u201cportfolio\u201d in this press release refer strictly to milestone and\/or royalty rights associated with a basket of drug products in development.\u00a0 Any references to \u201cassets\u201d in this press release refer strictly to milestone and\/or royalty rights associated with individual drug products in development.<\/p>\n

As of the date of this press release, all assets in XOMA\u2019s milestone and royalty portfolio are investigational compounds. Efficacy and safety have not been established. There is no guarantee that any of these assets will become commercially available.<\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n XOMA CORPORATION<\/strong>\n <\/td>\n<\/tr>\n
\n CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS<\/strong>\n <\/td>\n<\/tr>\n
\n (unaudited)<\/strong>\n <\/td>\n<\/tr>\n
\n (in thousands, except per share amounts)<\/strong>\n <\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\n Three Months Ended June 30,<\/strong>
\n
\n
\n <\/strong>\n <\/td>\n		\u00a0<\/td>\n\n Six Months Ended June 30,<\/strong>\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a02021<\/strong>\u00a0<\/td>\n\u00a0<\/td>\n\n 2020<\/strong>\u00a0<\/td>\n\u00a0<\/td>\n\n 2021<\/strong>\n <\/td>\n\u00a0<\/td>\n\n 2020<\/strong>\u00a0<\/td>\n<\/tr>\n
Revenues:<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Revenue from contracts with customers<\/td>\n$<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0525<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a053<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0544<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0553<\/td>\n\u00a0<\/td>\n<\/tr>\n
Revenue recognized under units-of-revenue method<\/td>\n\u00a0<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0376<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0391<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0731<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0695<\/td>\n\u00a0<\/td>\n<\/tr>\n
Total revenues<\/td>\n\u00a0<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0901<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0444<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a01,275<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a01,248<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Operating expenses:<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Research and development<\/td>\n\u00a0<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a038<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a038<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a099<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0100<\/td>\n\u00a0<\/td>\n<\/tr>\n
General and administrative<\/td>\n\u00a0<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a03,927<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a03,557<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a010,667<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a09,914<\/td>\n\u00a0<\/td>\n<\/tr>\n
Total operating expenses<\/td>\n\u00a0<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a03,965<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a03,595<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a010,766<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a010,014<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Loss from operations<\/td>\n\u00a0<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0(3,064<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0(3,151<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0(9,491<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0(8,766<\/td>\n)<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Other income (expense), net:<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Interest expense<\/td>\n\u00a0<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0(172<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0(508<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0(461<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0(1,050<\/td>\n)<\/td>\n<\/tr>\n
Loss on extinguishment of debt<\/td>\n\u00a0<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0(300<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0–<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0(300<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0–<\/td>\n\u00a0<\/td>\n<\/tr>\n
Other income (expense), net<\/td>\n\u00a0<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a01,299<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0126<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0642<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0(1<\/td>\n)<\/td>\n<\/tr>\n
Loss before income tax<\/td>\n\u00a0<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0(2,237<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0(3,533<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0(9,610<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0(9,817<\/td>\n)<\/td>\n<\/tr>\n
Income tax benefit<\/td>\n\u00a0<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0–<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0–<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0–<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a01,526<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Net loss and comprehensive loss<\/td>\n$<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0(2,237<\/td>\n)<\/td>\n\u00a0<\/td>\n$<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0(3,533<\/td>\n)<\/td>\n\u00a0<\/td>\n$<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0(9,610<\/td>\n)<\/td>\n\u00a0<\/td>\n$<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0(8,291<\/td>\n)<\/td>\n<\/tr>\n
Less: accumulated dividends on Series A and Series B preferred stock<\/td>\n\u00a0<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0(1,293<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0–<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0(1,824<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0–<\/td>\n\u00a0<\/td>\n<\/tr>\n
Net loss available to common stockholders, basic and diluted<\/td>\n$<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0(3,530<\/td>\n)<\/td>\n\u00a0<\/td>\n$<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0(3,533<\/td>\n)<\/td>\n\u00a0<\/td>\n$<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0(11,434<\/td>\n)<\/td>\n\u00a0<\/td>\n$<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0(8,291<\/td>\n)<\/td>\n<\/tr>\n
Basic and diluted net loss per share available to common stockholders<\/td>\n$<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 (0.31<\/td>\n)<\/td>\n\u00a0<\/td>\n$<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0(0.33<\/td>\n)<\/td>\n\u00a0<\/td>\n$<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0(1.02<\/td>\n)<\/td>\n\u00a0<\/td>\n$<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0(0.81<\/td>\n)<\/td>\n<\/tr>\n
Weighted average shares used in computing basic and diluted net loss per share available to common stockholders<\/td>\n\u00a0<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a011,285<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a010,824<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a011,263<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a010,292<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n<\/table>\n

\n \n <\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n XOMA CORPORATION<\/strong>\n <\/td>\n<\/tr>\n
\n CONDENSED CONSOLIDATED BALANCE SHEETS<\/strong>\n <\/td>\n<\/tr>\n
\n (unaudited)<\/strong>\n <\/td>\n<\/tr>\n
\n (in thousands, except share and per share amounts)<\/strong>\n <\/td>\n<\/tr>\n
\n \u00a0<\/strong>\n <\/td>\n\n June 30, <\/strong>\n <\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n December\u00a031,<\/strong>\n <\/td>\n<\/tr>\n
\n \u00a0<\/strong>\n <\/td>\n\n 2021<\/strong>\n <\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n 2020<\/strong>\n <\/td>\n<\/tr>\n
\n ASSETS<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Current assets:<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Cash<\/td>\n$<\/td>\n78,945<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n84,222<\/td>\n\u00a0<\/td>\n<\/tr>\n
Restricted cash<\/td>\n\u00a0<\/td>\n4,840<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,611<\/td>\n\u00a0<\/td>\n<\/tr>\n
Short-term equity securities<\/td>\n\u00a0<\/td>\n2,310<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n–<\/td>\n\u00a0<\/td>\n<\/tr>\n
Trade and other receivables, net<\/td>\n\u00a0<\/td>\n12<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n263<\/td>\n\u00a0<\/td>\n<\/tr>\n
Income tax receivable<\/td>\n\u00a0<\/td>\n–<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,526<\/td>\n\u00a0<\/td>\n<\/tr>\n
Prepaid expenses and other current assets<\/td>\n\u00a0<\/td>\n1,144<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n443<\/td>\n\u00a0<\/td>\n<\/tr>\n
Total current assets<\/td>\n\u00a0<\/td>\n87,251<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n88,065<\/td>\n\u00a0<\/td>\n<\/tr>\n
Long-term restricted cash<\/td>\n\u00a0<\/td>\n–<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n531<\/td>\n\u00a0<\/td>\n<\/tr>\n
Property and equipment, net<\/td>\n\u00a0<\/td>\n17<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n21<\/td>\n\u00a0<\/td>\n<\/tr>\n
Operating lease right-of-use assets<\/td>\n\u00a0<\/td>\n281<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n359<\/td>\n\u00a0<\/td>\n<\/tr>\n
Long-term royalty receivables<\/td>\n\u00a0<\/td>\n48,075<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n34,575<\/td>\n\u00a0<\/td>\n<\/tr>\n
Long-term equity securities<\/td>\n\u00a0<\/td>\n–<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,693<\/td>\n\u00a0<\/td>\n<\/tr>\n
Other assets<\/td>\n\u00a0<\/td>\n128<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n41<\/td>\n\u00a0<\/td>\n<\/tr>\n
Total assets<\/td>\n$<\/td>\n135,752<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n125,285<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\n LIABILITIES AND STOCKHOLDERS\u2019 EQUITY<\/strong>\n <\/td>\n\u00a0<\/td>\n\n \u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n<\/tr>\n
Current liabilities:<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Accounts payable<\/td>\n$<\/td>\n629<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n456<\/td>\n\u00a0<\/td>\n<\/tr>\n
Accrued and other liabilities<\/td>\n\u00a0<\/td>\n1,059<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n642<\/td>\n\u00a0<\/td>\n<\/tr>\n
Contingent consideration under royalty purchase agreements<\/td>\n\u00a0<\/td>\n75<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n75<\/td>\n\u00a0<\/td>\n<\/tr>\n
Operating lease liabilities<\/td>\n\u00a0<\/td>\n187<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n179<\/td>\n\u00a0<\/td>\n<\/tr>\n
Unearned revenue recognized under units-of-revenue method<\/td>\n\u00a0<\/td>\n1,503<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,452<\/td>\n\u00a0<\/td>\n<\/tr>\n
Contingent liabilities<\/td>\n\u00a0<\/td>\n1,410<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,410<\/td>\n\u00a0<\/td>\n<\/tr>\n
Current portion of long-term debt<\/td>\n\u00a0<\/td>\n–<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n8,088<\/td>\n\u00a0<\/td>\n<\/tr>\n
Preferred stock dividend accrual<\/td>\n\u00a0<\/td>\n1,424<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n<\/tr>\n
Total current liabilities<\/td>\n\u00a0<\/td>\n6,287<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n12,302<\/td>\n\u00a0<\/td>\n<\/tr>\n
Unearned revenue recognized under units-of-revenue method \u2013 long-term<\/td>\n\u00a0<\/td>\n12,734<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n13,516<\/td>\n\u00a0<\/td>\n<\/tr>\n
Long-term debt<\/td>\n\u00a0<\/td>\n–<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n12,764<\/td>\n\u00a0<\/td>\n<\/tr>\n
Long-term operating lease liabilities<\/td>\n\u00a0<\/td>\n133<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n229<\/td>\n\u00a0<\/td>\n<\/tr>\n
Other liabilities \u2013 long-term<\/td>\n\u00a0<\/td>\n20<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n50<\/td>\n\u00a0<\/td>\n<\/tr>\n
Total liabilities<\/td>\n\u00a0<\/td>\n19,174<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n38,861<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Stockholders\u2019 equity:<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Preferred Stock, $0.05 par value, 1,000,000 shares authorized:<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
8.625% Series A cumulative, perpetual preferred stock, 984,000 shares issued and outstanding at June 30, 2021 and December 31, 2020<\/td>\n\u00a0<\/td>\n49<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n49<\/td>\n\u00a0<\/td>\n<\/tr>\n
8.375% Series B cumulative, perpetual preferred stock, 1,600 and zero shares issued and outstanding at June 30, 2021 and December 31, 2020, respectively<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n<\/tr>\n
Convertible preferred stock, 5,003 shares issued and outstanding at June 30, 2021 and December 31, 2020<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n<\/tr>\n
Common stock, $0.0075 par value, 277,333,332 shares authorized, 11,310,001 and 11,228,792 shares issued and outstanding at June 30, 2021 and December 31, 2020, respectively<\/td>\n\u00a0<\/td>\n85<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n84<\/td>\n\u00a0<\/td>\n<\/tr>\n
Additional paid-in capital<\/td>\n\u00a0<\/td>\n1,307,140<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,267,377<\/td>\n\u00a0<\/td>\n<\/tr>\n
Accumulated deficit<\/td>\n\u00a0<\/td>\n(1,190,696<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(1,181,086<\/td>\n)<\/td>\n<\/tr>\n
Total stockholders\u2019 equity<\/td>\n\u00a0<\/td>\n116,578<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n86,424<\/td>\n\u00a0<\/td>\n<\/tr>\n
Total liabilities and stockholders\u2019 equity<\/td>\n$<\/td>\n135,752<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n125,285<\/td>\n\u00a0<\/td>\n<\/tr>\n<\/table>\n

\n \n <\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n
\n Investor contacts:<\/strong>\n <\/td>\n\u00a0<\/td>\n<\/tr>\n
Gitanjali Jain<\/td>\nJuliane Snowden<\/td>\n<\/tr>\n
Solebury Trout<\/td>\nXOMA<\/td>\n<\/tr>\n
+1-646-378-2949<\/td>\n+1-646-438-9754<\/td>\n<\/tr>\n
gogawa@soleburytrout.com<\/td>\njuliane.snowden@xoma.com<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\n Media contact:<\/strong>\n <\/td>\n\u00a0<\/td>\n<\/tr>\n
Kathy Vincent<\/td>\n\u00a0<\/td>\n<\/tr>\n
KV Consulting\u00a0& Management<\/td>\n\u00a0<\/td>\n<\/tr>\n
+1-310-403-8951<\/td>\n\u00a0<\/td>\n<\/tr>\n
kathy@kathyvincent.com<\/td>\n\u00a0<\/td>\n<\/tr>\n<\/table>\n


\n
\n \n <\/div>\n

<\/div>\n","protected":false},"excerpt":{"rendered":"

Added six assets to its portfolio of potential milestone and royalty assets in 2021 Company earned $0.5 million milestone as Janssen asset entered Phase 3 development NIS793 in combination with standard of care chemotherapy was granted Orphan Drug Designation for the treatment pancreatic cancer DAY101 received Rare Pediatric Disease Designation for the treatment of pediatric low-grade glioma XOMA raised $40 million through its Series B Perpetual Preferred Stock offering paying 8.375% dividend Board of Directors declared quarterly dividend payments for XOMAP and XOMAO Company paid off all outstanding debt and ended the second quarter of 2021 with $78.9 million in cash EMERYVILLE, Calif., Aug. 05, 2021 (GLOBE NEWSWIRE) — XOMA Corporation (Nasdaq: XOMA) reported its second quarter 2021 financial results … <\/p>\n

Continue reading “XOMA Reports Second Quarter 2021 Financial Results and Highlights Recent Operational Events”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-523954","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nXOMA Reports Second Quarter 2021 Financial Results and Highlights Recent Operational Events - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/xoma-reports-second-quarter-2021-financial-results-and-highlights-recent-operational-events\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"XOMA Reports Second Quarter 2021 Financial Results and Highlights Recent Operational Events - 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