Financial PerformanceThe company's operating loss was $7M, which was slightly higher than the estimated $6M.
Payment ObligationsIf the aggregated payments received by XOMA exceed $88M, XOMA will pay $11M to Daré for each successive $22M XOMA receives under the agreement.
Royalty RatesIf XOMA receives more than $110M under the agreement, the royalty rate on Ovaprene and sildenafil cream will decrease to 2.5% and 1.5%, respectively.