XOMA closes Kinnate acquisition for $122.7M cash; Q1 2024 pro forma net loss $21.7M

XOMA Royalty Corp

Cash consideration of $2.5879 per share + one CVR; aggregate cash $122.7M financed from cash on hand.
Kinnate Q1 2024 net loss $13.1M, cash $151.3M at March 31, 2024.
Pro forma combined net loss for Q1 2024 $21.7M; for FY 2023 $136.9M.
Kinnate restructuring costs of $2.3M in Q1 2024; workforce reductions implemented.
Includes historical audited financials of Kinnate as of Dec 31, 2023 and 2022.

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