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XOMA Royalty Corporation (XOMA+1.89%) has submitted its Form 10-K filing for the fiscal year ended December 31, 2024.
The filing details XOMA's business model as a biotech royalty aggregator, focusing on acquiring economic rights to future potential milestone and royalty payments associated with partnered therapeutic candidates.
XOMA's portfolio includes both commercial and pre-commercial assets, with a focus on early to mid-stage clinical assets licensed to well-funded partners.
During 2024, XOMA acquired Pulmokine and Kinnate, expanding its portfolio with interests in seralutinib and other assets.
The company reported a net loss of $13.8 million for the year ended December 31, 2024, compared to a net loss of $40.8 million in 2023.
XOMA's cash and cash equivalents as of December 31, 2024, were $101.6 million, with a working capital of $101.2 million.
Income from purchased receivables under the effective interest rate method was $15.1 million, primarily from sales of VABYSMO.
XOMA's strategy includes expanding its portfolio by acquiring additional milestone and royalty revenue streams and managing its cash resources to fund operations and potential acquisitions.
The company is subject to various risks, including the success of its partners' product development and commercialization efforts, regulatory changes, and market competition.
XOMA's stock repurchase program, authorized in January 2024, allows for the purchase of up to $50 million of its common stock through January 2027.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the XOMA Royalty Corporation annual 10-K report dated March 17, 2025. To report an error, please email earnings@qz.com.