XOMA Q1 net loss $8.6M; FDA approves OJEMDA triggering $9M milestone

XOMA Royalty Corp

2024-Q1 EPS reported -$0.86 revenue$1,490,000

Q1 revenue $1.5M (vs $0.4M YoY) on $1M AVEO milestone; net loss $8.6M (vs $9.8M YoY).
FDA approved Day One's OJEMDA; XOMA earned $9M milestone and will receive mid-single digit royalties.
Acquired Kinnate Pharmaceuticals for $2.5879/share + CVR; adds at least $9.5M non-dilutive capital.
Expanded royalty portfolio: economic interests in DSUVIA, XACIATO, Ovaprene (Ph3), and Sildenafil Cream.
Launched first $50M stock buyback; cash $142.4M at March 31, 2024.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.88

XOMA Royalty Corp reported the quarter ended March 31, 2024 results: revenue $1.5 million, net income $8.6 million.

Period: the quarter ended March 31, 2024
Revenue: $1.5 million
Net income: $8.6 million
Result: reported results

Exact text from the filing

XOMA recorded total revenues of $1.5 million for the first quarter of 2024, which included a $1.0 million milestone payment received from AVEO Oncology, as compared with $0.4 million in the first quarter of 2023.

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Source: SEC EDGAR

accession 0001193125-24-134777

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