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XOMA (XOMA)

XOMA has built a significant portfolio of products that are licensed to and being developed by other biotechnology and pharmaceutical companies. The Company's portfolio of partner-funded programs spans multiple stages of the drug development process and across various therapeutic areas. Many of these licenses are the result of XOMA's pioneering efforts in the discovery and development of antibody therapeutics. The Company's royalty-aggregator business model includes acquiring additional licenses to programs with third-party funding.

Company profile

Ticker
XOMA, XOMAP, XOMAO
Exchange
Website
CEO
James Neal
Employees
Incorporated
Location
Fiscal year end
Former names
XOMA CORP /DE/, XOMA LTD /DE/
SEC CIK
Subsidiaries
XOMA Technology Ltd. • XOMA (US) LLC • XOMA UK Limited ...
IRS number
942756657

XOMA stock data

Calendar

4 Aug 22
12 Aug 22
31 Dec 22
Quarter (USD) Jun 22 Mar 22 Dec 21 Sep 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD) Dec 21 Dec 20 Dec 19 Dec 18
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Cash burn rate (est.) Burn method: Change in cash Burn method: Operating income Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 83.18M 83.18M 83.18M 83.18M 83.18M 83.18M
Cash burn (monthly) 1.82M 50.25K 1.59M (no burn) 1.44M (no burn)
Cash used (since last report) 2.6M 71.9K 2.27M n/a 2.06M n/a
Cash remaining 80.58M 83.11M 80.91M n/a 81.12M n/a
Runway (months of cash) 44.3 1653.9 50.9 n/a 56.4 n/a

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
15 Jul 22 Neal James R Common Stock Sell Dispose S No Yes 31.861 905 28.83K 11,822
15 Jul 22 Neal James R Common Stock Sell Dispose S No Yes 31.1877 3,212 100.17K 12,727
15 Jul 22 Neal James R Common Stock Sell Dispose S No Yes 29.5501 20,883 617.09K 15,939
15 Jul 22 Neal James R Common Stock Option exercise Acquire M No No 4.03 25,000 100.75K 36,822
15 Jul 22 Neal James R Stock Option Common Stock Option exercise Dispose M No No 4.03 25,000 100.75K 218,056
15 Jul 22 Burns Thomas M. Common Stock Sell Dispose S No Yes 31.6605 2,000 63.32K 6,555
15 Jul 22 Burns Thomas M. Common Stock Option exercise Acquire M No No 4.03 2,000 8.06K 8,555
15 Jul 22 Burns Thomas M. Stock Option Common Stock Option exercise Dispose M No No 4.03 2,000 8.06K 75,778
18 May 22 Perry Matthew D Non-Qualified Share Option Common Shares Grant Acquire A No No 17.86 8,996 160.67K 8,996
18 May 22 Limber Joseph M Non-Qualified Share Option Common Shares Grant Acquire A No No 17.86 8,996 160.67K 8,996
10.0% owned by funds/institutions
13F holders Current Prev Q Change
Total holders 55 55
Opened positions 7 7
Closed positions 7 5 +40.0%
Increased positions 11 14 -21.4%
Reduced positions 22 16 +37.5%
13F shares Current Prev Q Change
Total value 368.83M 345.82M +6.7%
Total shares 10.44M 10.46M -0.2%
Total puts 0 2K EXIT
Total calls 0 0
Total put/call ratio Infinity
Largest owners Shares Value Change
Biotechnology Value Fund L P 3.53M $144.08M 0.0%
BVF 3.53M $98.79M 0.0%
FMR 938.48K $26.26M +5.7%
NVS Novartis 539.13K $8.76M 0.0%
BLK Blackrock 461.5K $12.91M -0.3%
Vanguard 405.12K $11.34M -0.4%
Opaleye Management 271K $7.58M -19.9%
Geode Capital Management 148.69K $4.16M +1.4%
STT State Street 131.34K $3.68M +1.1%
NTRS Northern Trust 85.95K $2.41M -3.9%
Largest transactions Shares Bought/sold Change
Opaleye Management 271K -67.35K -19.9%
FMR 938.48K +50.96K +5.7%
Parametric Portfolio Associates 45.09K +45.09K NEW
WFC Wells Fargo & Co. 9.94K -17.34K -63.6%
Allspring Global Investments 16.09K -16.55K -50.7%
Stonepine Capital Management 36.8K -9.22K -20.0%
Russell Investments 0 -9.14K EXIT
Trexquant Investment 8.81K +8.81K NEW
Nuveen Asset Management 21.25K +8.76K +70.2%
TROW T. Rowe Price 8.59K +8.59K NEW

Financial report summary

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Risks
  • Our acquisitions of potential future royalty and/or milestone payments may not produce anticipated revenues and/or may be negatively affected by a default or bankruptcy of the licensor(s) or licensee(s) under the applicable license agreement(s) covering such potential royalties and/or milestones, and if such transactions are secured by collateral, we may be, or may become, under-secured by the collateral or such collateral may lose value and we will not be able to recuperate our capital expenditures associated with the acquisition.
  • Many of our potential royalty acquisitions may be associated with drug products that are in clinical development and have not yet been commercialized. To the extent that such products are not successfully developed and commercialized, our financial condition and results of operations may be negatively impacted. Acquisitions of potential royalties associated with development stage biopharmaceutical product candidates are subject to a number of uncertainties.
  • We depend on our licensees and royalty-agreement counterparties for the determination of royalty and milestone payments. While we typically have primary or back-up rights to audit our licensees and royalty-agreement counterparties, the independent auditors may have difficulty determining the correct royalty calculation, we may not be able to detect errors and payment calculations may call for retroactive adjustments. We may have to exercise legal remedies, if available, to resolve any disputes resulting from any such audit.
  • The lack of liquidity of our acquisitions of future potential milestones and royalties may adversely affect our business and, if we need to sell any of our acquired assets, we may not be able to do so at a favorable price, if at all. As a result, we may suffer losses.
  • Our royalty aggregator strategy may require that we register with the SEC as an “investment company” in accordance with the Investment Company Act of 1940.
  • Our licensees or royalty-agreement counterparties or their licensees could be subject to natural disasters, public health crises, political crises and other catastrophic events that could hinder or disrupt development efforts.
  • Because many of the companies with which we do business also are in the biotechnology sector, the volatility of that sector can affect us indirectly as well as directly.
  • We have sustained losses in the past, and we expect to sustain losses in the foreseeable future.
  • We and our partners rely heavily on license and collaboration relationships, and any disputes or litigation with our partners or termination or breach of any of the related agreements could reduce the financial resources available to us, including our ability to receive milestone payments and future potential royalty and other revenues. License or collaboration agreements relating to products may, in some instances, be unilaterally terminated or disputes may arise which may affect our potential milestones, royalties and other payments.
  • Our potential milestone and royalty providers may rely on third parties to provide services in connection with their product candidate development and manufacturing programs. The inadequate performance by or loss of any of these service providers could affect our potential milestone and royalty providers’ product candidate development.
  • Agreements with other third parties, many of which are material to our business, expose us to numerous risks and have caused us to incur additional liabilities.
  • Failure of our potential milestone and royalty providers’ product candidates to meet current Good Manufacturing Practices standards may subject our licensees to delays in regulatory approval and penalties for noncompliance.
  • Certain of our technologies are in-licensed from third parties, so our and our licensees’ capabilities use of them may be restricted and subject to additional risks.
  • We may not be able to successfully identify and acquire potential milestone and royalty streams on other products, product candidates, or programs, or other companies to grow and diversify our business, and, even if we are able to do so, we may not be able to successfully manage the risks associated with integrating any such products, product candidates, programs or companies into our business or we may otherwise fail to realize the anticipated benefits of these acquisitions.
  • Our potential milestone and royalty providers face uncertain results of clinical trials of product candidates.
  • New products and technologies of other companies may render some or all of our potential milestone and royalty providers’ product candidates noncompetitive or obsolete.
  • Our potential royalty providers may be unable to price our products effectively or obtain coverage and adequate reimbursement for sales of our products, which would prevent our potential royalty providers’ products from becoming profitable and negatively affect the royalties we may receive.
  • We do not know whether there will be, or will continue to be, a viable market for the product candidates in which we have an ownership or royalty interest.
  • We are exposed to an increased risk of product liability claims.
  • If we and our potential royalty providers are unable to protect our intellectual property, in particular patent protection for principal products, product candidates and processes in which we have an ownership or royalty interest, and prevent the use of the covered subject matter by third parties, our potential royalty providers’ ability to compete in the market will be harmed, and we may not realize our profit potential.
  • Litigation regarding intellectual property and/or the enforcement of our contractual rights against licensees and third parties can be costly and expose us to risks of counterclaims against us.
  • The loss of, COVID-19 related absence of, or changes in any of our key personnel, could delay or prevent achieving our objectives.
  • Because we are a small biopharmaceutical focused company with limited resources, we may not be able to attract and retain qualified personnel.
  • Natural disasters, power shortages, power interruptions or other calamities at our Emeryville headquarters could disrupt our business and adversely affect our operations.
  • Our business and operations would suffer in the event of system failures.
  • If our information technology systems or data are or were compromised by data breaches, cyberattacks, or other security incidents our intellectual property or other sensitive information could be exposed or stolen and we could experience adverse consequences, including regulatory investigations or actions; litigation; fines and penalties; a disruption of our business operations; reputational harm; loss of revenue or profits; loss of customers or sales; and other adverse business consequences.
  • In addition, our data security and information technology systems, as well as those of our partners and contractors, are potentially vulnerable to data security breaches, whether by employees or others, that may expose sensitive data or personal information to unauthorized persons.
  • We are subject to stringent and changing obligations related to data privacy and security. Significant disruptions of information technology systems, including cloud-based systems, or breaches of data security could adversely affect our business. Our actual or perceived failure to comply with any privacy or data security obligations could lead to regulatory investigations or actions; litigation; fines and penalties; a disruption of our business operations; reputational harm; loss of revenue or profits; loss of customers or sales; and other adverse business consequences.
  • Even after FDA approval, a product may be subject to additional testing or significant marketing restrictions, its approval may be withdrawn, or it may be removed voluntarily from the market.
  • Healthcare reform measures and other statutory or regulatory changes could adversely affect our business.
  • We and our potential milestone and royalty providers are subject to various state and federal healthcare-related laws and regulations that if violated may impact the commercialization of our product candidates for which we possess milestone or royalty rights or could subject us to significant fines and penalties.
  • We are subject to the U.S. Foreign Corrupt Practices Act and other anti-corruption laws, as well as export control laws, import and customs laws, trade and economic sanctions laws and other laws governing our operations.
  • As we or our potential milestone and royalty providers do more business internationally, we will be subject to additional political, economic and regulatory uncertainties.
  • Our share price may be volatile, and there may not be an active trading market for our common stock, Series A Preferred Stock or our Series B Preferred Stock.
  • Our results of operations and liquidity needs could be materially negatively affected by market fluctuations or an economic downturn.
  • We have issued equity securities and may issue additional equity securities from time to time, that materially and adversely affect the price of our common stock, including our Series X preferred stock, Series A Preferred Stock and depositary shares representing interests in our Series B Preferred Stock.
  • We may sell additional equity or debt securities to fund our operations, which may result in dilution to our stockholders and impose restrictions on our business.
  • Our organizational documents contain provisions that may prevent transactions that could be beneficial to our stockholders and may insulate our management from removal.
  • As a public company in the United States, we are subject to the Sarbanes-Oxley Act. We have determined our disclosure controls and procedures and our internal control over financial reporting are effective. We can provide no assurance that we will, at all times, in the future be able to report that our disclosure controls and internal controls over financial reporting are effective.
  • Our ability to use our NOL carry-forwards and other tax attributes will be substantially limited by Section 382 of the U.S. Internal Revenue Code.
  • The 2017 tax reform law, as modified by 2020 tax legislation, and possible future changes in tax laws or regulations could adversely affect our business and financial condition.
  • Stockholder and private lawsuits, and potential similar or related lawsuits, could result in substantial damages, divert management’s time and attention from our business, and have a material adverse effect on our business, financial condition and results of operations.
Management Discussion
  • Revenue from contracts with customers includes upfront fees, annual licenses fees and milestone payments related to the out-licensing of our legacy product candidates and technologies. While there was no change for the three months ended June 30, 2022, as compared to the same period in 2021, the balances included milestone payments from two different partners. The increase for the six months ended June 30, 2022, as compared to the same period in 2021, was primarily due to $2.0 million in revenue recognized in the first quarter of 2022 related to a milestone event under our Rezolute License Agreement and a $0.8 million milestone earned pursuant to the Takeda Collaboration Agreement.
  • Revenues recognized under the units-of-revenue method include the amortization of unearned revenue from the sale of royalty interests to HCRP in 2016. Revenues for the three and six months ended June 30, 2022, remained consistent with the same periods in 2021 due to comparable sales of products underlying the agreements with HCRP.
  • R&D expenses were $40,000 and $0.1 million for the three and six months ended June 30, 2022, respectively, which were consistent with $38,000 and $0.1 million for the same periods in 2021. We do not expect to incur substantial R&D expenses related to internally developed programs due to the focus on our royalty aggregator business model.

Content analysis

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Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability
H.S. senior Avg
New words: CA, penalty, reclassified, Regeneron, SB, Sonnet, suspension
Removed: AB, account, alternatively, amend, annum, applied, Assembly, back, bifurcation, Bill, calendar, cap, Certificate, commencing, computed, consecutive, consent, corrected, deferring, delaying, delisting, Designation, deteriorating, digit, embody, exceeded, exchangeable, feature, hedging, lot, mandatorily, multiplied, noted, optional, par, parity, pro, prorated, quotient, rank, rata, reassessed, redeem, redeemed, refund, Secretary, segregated, temporary, thereon, thereunder, utilizing

Patents

Utility
Novel Modulators
21 Jul 22
Antibodies that modulate insulin receptor signaling are provided.
Utility
Modulators
1 Mar 22
Antibodies that modulate insulin receptor signaling are provided.
Utility
Antibodies Specific for TGF-Beta
18 Nov 21
The present disclosure relates, in general, to materials and methods for antibodies specific for transforming growth factor beta (TGFβ), including TGFβ1, TGFβ2 and TGFβ3, and uses of these antibodies in the treatment of subjects having cancer, an eye disease, condition or disorder, fibrosis, including ophthalmic fibrosis or fibrosis of the eye, and other conditions or disorders related to TGFβ expression.
Utility
Method of treating cancer by administering an antibody that binds transforming growth factor beta (TGF-beta) 1, TGF-beta 2 and TGF-beta 3
24 Aug 21
The present disclosure relates, in general, to materials and methods for antibodies specific for transforming growth factor beta (TGFβ), including TGFβ1, TGFβ2 and TGFβ3, and uses of these antibodies in the treatment of subjects having cancer, an eye disease, condition or disorder, fibrosis, including ophthalmic fibrosis or fibrosis of the eye, and other conditions or disorders related to TGFβ expression.
Utility
Antibodies That Bind INTERLEUKIN-2 and Uses Thereof
24 Jun 21
The present disclosure relates, in general, to human antibodies against human interleukin 2 (IL-2) and methods of use of such antibodies for modulating IL-2 activity and use in the treatment of conditions such as cancer, autoimmune disease, or infection.