XOMA Royalty Q2 net income $16.0M; receives $22.6M cash; acquires Kinnate and Daré rights; posts $9.0M impairment

XOMA Royalty Corp

2024-Q2 EPS reported $0.27 revenue$12,576,000

Net income $16.0M vs net loss $5.4M in Q2 2023; total income/revenue $11.1M; cash receipts $22.6M.
Completed acquisition of Kinnate Pharmaceuticals, adding >$9.5M cash and potential royalty streams; acquired Daré's XACIATO, Ovaprene, Sildenafil Cream rights.
Recorded $9.0M non-cash impairment on Aronora programs; $19.3M gain on Kinnate acquisition, partially offset by $8.1M derivative charge.
Zevra's arimoclomol received favorable advisory committee vote; FDA PDUFA date Sept 21, 2024.

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