XOMA (XOMA) Tops Q4 EPS by 14c, Revenues Beat

XOMA (NASDAQ: XOMA) reported Q4 EPS of ($0.35), $0.14 better than the analyst estimate of ($0.49). Revenue for the quarter came in at $1.55 million versus the consensus estimate of $1.13 million.

“In 2018, we completed the first transaction under our royalty-aggregator business model, adding seven assets being developed by Merck and Incyte, bringing our royalty license portfolio to 45 assets. We added $20 million of capital and established a $20 million credit facility to strengthen our balance sheet and to continue building our royalty portfolio. We believe XOMA is in a healthy financial position, and we are focused on delivering shareholder value,” stated Jim Neal, Chief Executive Officer of XOMA. “In early 2019, we added Barbara Kosacz to our Board of Directors; her legal expertise in analyzing, structuring, and negotiating pharmaceutical and biotechnology license agreements will be invaluable as we execute on our business strategy.”

Business Highlights

XOMA continued making significant progress to position the Company for long-term growth, while strengthening its balance sheet in multiple ways during 2018.

• Acquired a milestone and royalty interest in seven immuno-oncology assets being developed by Merck and Incyte.
• Completed a $20 million rights offering with XOMA stockholders including BVF Partners, LP.
• Secured $20 million credit facility with Silicon Valley Bank.
• Reduced operating expenses to historic lows, reflecting our new low-cost infrastructure.
• Strengthened the Board of Directors and leadership team.

For earnings history and earnings-related data on XOMA (XOMA) click here.

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