Xoma Corp. ( (XOMA) ) has released its Q3 earnings. Here is a breakdown of the information Xoma Corp. presented to its investors.
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XOMA Royalty Corporation is a biotechnology royalty aggregator that acquires potential future economics from pre-commercial and commercial therapeutic candidates licensed to pharmaceutical or biotechnology companies. The company aims to support biotech firms in improving human health by providing non-dilutive, non-recourse funding.
In its third-quarter 2024 earnings report, XOMA Royalty Corporation announced several significant developments, including the FDA approval of MIPLYFFA™, a new treatment for Niemann-Pick disease Type C, and the acquisition of a 50% economic interest in TWIST Bioscience’s portfolio. The company also reported cash receipts totaling $9.9 million for the quarter.
XOMA’s financial performance for the third quarter of 2024 showed total income and revenues of $7.2 million, up from $0.8 million in the same period last year. However, the company reported a net loss of $17.2 million, mainly due to a $14 million non-cash impairment charge related to the Agenus Royalty Purchase Agreement. Notably, the company’s strategic expansion included a $15 million royalty monetization agreement with Twist Bioscience to add multiple early-stage programs to its portfolio.
Looking ahead, XOMA Royalty remains focused on building a diversified portfolio of sustainable cash flow streams by acquiring royalty economics across various stages of drug development. The management is optimistic about the potential of its portfolio to generate substantial milestone and royalty proceeds over time.
