Press Release: XOMA Royalty Reports 2025 Financial Results and Highlights Recent Business Achievements

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Portfolio receipts: -- Achieved over $50 million of cash receipts, including $33.6 million in royalties and $16.9 million milestones, in full year 2025 -- Total receipts increased 9% with royalties up 68% versus full year 2024

Business development: Added 22 assets to portfolio, including five programs in Phase 2 or Phase 3 development

Stock buyback program: Repurchased and retired 648,048 shares for an aggregate of $16.0 million

Company acquisitions: Completed seven acquisitions, accumulating $11.7 million of non-dilutive capital(1) , economic interests of approximately 25% in up to $1.1 billion of milestones and low to mid-single digit royalties from eight partnered programs

Key 2026 pipeline events: -- Phase 2b data from volixibat in PSC in Q2 and Phase 3 data from ersodetug in tumor HI in 2H -- Potential for EMA decisions on OJEMDA$(TM)$ and MIPLYFFA(TM) marketing authorization applications -- Regulatory updates related to ersodetug in congenital HI and seralutinib in PAH

Webcast at 8:00 am Eastern Time today

EMERYVILLE, Calif., March 18, 2026 (GLOBE NEWSWIRE) -- XOMA Royalty Corporation $(XOMA)$, the biotech royalty aggregator, reported its 2025 fourth quarter and full year financial results and highlighted recent actions that have the potential to deliver additional shareholder value.

"We continue to search for innovative ways to drive enhanced optionality in the XOMA portfolio, with the addition of 22 assets and two platform technologies over the past year," stated Owen Hughes, Chief Executive Officer of XOMA Royalty. "With multiple commercial assets delivering growing royalty receipts, we achieved positive cash flow from operations and were able to return $16 million of capital through a share buyback in 2025. Looking ahead, with 14 programs in registrational studies, we anticipate a number of catalysts over the ensuing years, including several regulatory updates and late-stage clinical readouts in 2026, which, if positive, will further diversify our commercial royalty streams and drive growing free cash flow in 2027 and beyond."

Portfolio Updates

 
Day One            --    OJEMDA New Drug Application filing in Japan triggered 
                         $2 million milestone in 4Q25 
                   --    OJEMDA FY 2026 revenue guidance of $225 -- $250 
                         million2 
                   --    In February 2026, the Committee for Medicinal 
                         Products for Human Use $(CHMP)$ of the European 
                         Medicines Agency $(EMA)$ issued a positive opinion 
                         recommending the conditional marketing authorization 
                         of OJEMDA3 
                   --    In March 2026, Day One and Servier announced that 
                         they have entered into a definitive agreement for 
                         Servier to acquire Day One for $21.50 per share in 
                         cash, representing a total equity value of 
                         approximately $2.5 billion4 
-----------------  ----------------------------------------------------------- 
Zevra 
Therapeutics        --    A Marketing Authorization Application for the 
                          evaluation of arimoclomol (MIPLYFFA) for the 
                          treatment of NPC is under review by the EMA5 
-----------------  ----------------------------------------------------------- 
Rezolute           --    In December 2025, Rezolute announced that the Phase 3 
                         clinical study of ersodetug for the treatment of 
                         congenital hyperinsulinism ("HI") demonstrated 
                         reductions from baseline in hypoglycemia events by 
                         self-monitored blood glucose at both ersodetug dose 
                         levels, but the reductions were not statistically 
                         significant compared to placebo, due to a pronounced 
                         study effect6 
                   --    Rezolute will meet with FDA under its Breakthrough 
                         Therapy Designation in the first quarter of 2026 to 
                         determine next steps for the program6 
                   --    Rezolute anticipates topline results of upLIFT, a 
                         Phase 3, single-arm, open-label study in participants 
                         with tumor HI, in the second half of 20266 
-----------------  ----------------------------------------------------------- 
Gossamer Bio & 
Chiesi              --    In February 2026, Gossamer Bio announced topline 
                          results from the Phase 3 PROSERA clinical trial 
                          evaluating seralutinib for the treatment of PAH7 
 
                    --    Seralutinib demonstrated a placebo-adjusted 
                          improvement in Six-Minute Walk Distance (6MWD) of 
                          +13.3 meters at Week 24 (p = 0.0320), missing the 
                          prespecified alpha threshold of 0.0257 
 
                    --    Gossamer plans to meet with the U.S. FDA to discuss 
                          the path forward7 
-----------------  ----------------------------------------------------------- 
Volixibat 
                    --    Volixibat VISTAS study in primary sclerosing 
                          cholangitis $(PSC)$ topline data expected in Q2 20268 
 
                    --    Volixibat VANTAGE study in primary biliary 
                          cholangitis $(PBC)$ expected to complete enrollment in 
                          H2 20268 
-----------------  ----------------------------------------------------------- 
 

Business Development Activity

 
Takeda Strategic   --    In December 2025, XOMA amended its collaboration with 
Royalty Share            Takeda 
Transaction        --    XOMA will receive low to mid-single-digit royalties 
                         and up to $852.6 million in potential milestones 
                         across nine development-stage assets, including 
                         osavampator, which is being evaluated in Phase 3 
                         studies for major depressive disorder; volixibat, 
                         which is being evaluated in PSC and PBC; OHB-607, 
                         which Oak Hill Bio Ltd and its partner are developing 
                         for the prevention of bronchopulmonary dysplasia in 
                         extremely premature infants; REC-4881, which is in 
                         Phase 2 development for familial adenomatous 
                         polyposis; and five early-stage Oak Hill Bio assets 
                   --    Prior to amending the collaboration, XOMA held a 
                         mid-single digit royalty and $16.25 million in 
                         potential milestones associated with mezagitamab 
                   --    Following the transaction, XOMA will retain a low 
                         single-digit royalty entitlement on mezagitamab and 
                         up to $13.0 million in milestones 
-----------------  ----------------------------------------------------------- 
Company            --    Completed or served as the structuring agent in the 
Acquisitions             acquisition of seven companies since the beginning of 
                         2025 
                   --    Accumulated non-dilutive capital of $11.7 million, 
                         net of transaction expenses 
                   --    Obtained economic interests of approximately 25% in 
                         up to $1.1 billion of potential milestone payments 
                         and low to mid-single-digit royalties from eight 
                         partnered assets 
                   --    Eligible for 25-70% of proceeds related to any future 
                         out license or sale of legacy assets or platform 
                         technology from these companies, including the ctLNP 
                         delivery platform from Generation Bio 
-----------------  ----------------------------------------------------------- 
 

Fourth Quarter and Full-Year 2025 Financial Results

In the fourth quarter of 2025, XOMA Royalty received $3.2 million in cash receipts from royalties and commercial payments and $3.3 million in milestone payments and paid $1.4 million in dividends on the XOMA Royalty Perpetual Preferred stocks. For the full year of 2025, XOMA Royalty received $50.5 million in cash receipts, including $33.6 million in royalties and commercial payments and $16.9 million in milestone payments and fees. During 2025, XOMA Royalty deployed $25.0 million to acquire additional assets for its royalty and milestone portfolio, repurchased 648,048 shares of its common stock for a cost of $16.0 million, and paid $5.5 million in dividends on the XOMA Royalty Perpetual Preferred stocks.

Income and Revenue: Income and revenues for the three months ended December 31, 2025 and 2024, were $13.8 million and $8.7 million, respectively. Income and revenues for the years ended December 31, 2025 and 2024, were $52.1 million and $28.5 million, respectively. The increase in both periods was primarily driven by increased income related to VABYSMO$(R)$ (faricimab-svoa) and OJEMDA(TM) (tovorafenib) and milestone payments received from Rezolute and Takeda.

General and Administrative (G&A) Expenses: G&A expenses for the three months ended December 31, 2025 and 2024, were $10.4 million and $7.0 million, respectively. G&A expenses for the years ended December 31, 2025 and 2024, were $36.1 million and $34.5 million, respectively. The increase of $1.6 million in 2025 was primarily due to an increase in business development and deal-related costs of $3.7 million and an increase in lease costs of $1.0 million primarily related to the HilleVax acquisition partially offset by $3.6 million in costs related to exit packages for Kinnate senior leadership in 2024.

G&A expenses for the year ended December 31, 2025, also include an increase of approximately $1.1 million associated with ongoing litigation initiated by XOMA Royalty against Janssen Biotech, Inc., asserting claims for breach of contract and unjust enrichment arising from Janssen's unauthorized use of XOMA's intellectual property in the commercialization of TREMFYA (guselkumab). XOMA Royalty expects to continue to incur legal fees and other professional service costs associated with pursuing this litigation. Litigation is inherently uncertain, and there can be no assurance regarding the outcome of the matter or the timing or amount of any potential recovery.

XOMA Royalty's G&A expenses for the three months ended December 31, 2025 and 2024, included non-cash stock-based compensation expenses of $3.9 million and $2.2 million, respectively, and $9.3 million and $10.3 million for the full years of 2025 and 2024, respectively.

Interest Expense: Interest expense for the three months ended December 31, 2025 and 2024, was $3.0 million and $3.4 million, respectively. Interest expense for the twelve months ended December 31, 2025 and 2024, were $13.0 million and $13.8 million, respectively. Interest expense relates to the Blue Owl Loan established in December 2023.

Net Income (Loss): XOMA Royalty reported net income of $6.1 million and $31.7 million for the three months and year ended December 31, 2025, as compared to net losses of $4.0 million and $13.8 million in the corresponding periods of 2024.

Cash Position: On December 31, 2025, XOMA Royalty had cash and cash equivalents of $133.7 million, including $50.8 million in restricted cash. The restricted cash balance included $42.3 million related to the assumed HilleVax lease and $2.2 million related to the Blue Owl Loan. Cash and cash equivalents of $106.4 million as of December 31, 2024, included $4.8 million in restricted cash related to the Blue Owl Loan.

Webcast

The Company will host a webcast on March 18, 2026, at 8:00 am Eastern Time to discuss the results and provide a business update. The webcast will be accessible on the "News & Events" page in the Investors section of XOMA Royalty's website . A replay of the webcast will be available for 30 days following the live event.

About XOMA Royalty Corporation

XOMA Royalty is a biotechnology royalty aggregator playing a distinctive role in helping biotech companies achieve their goal of improving human health. XOMA Royalty acquires the potential future economics associated with pre-commercial and commercial therapeutic candidates that have been licensed to pharmaceutical or biotechnology companies. When XOMA Royalty acquires the future economics, the seller receives non-dilutive, non-recourse funding they can use to advance their internal drug candidate(s) or for general corporate purposes. The Company has an extensive and growing portfolio of assets (asset defined as the right to receive potential future economics associated with the advancement of an underlying therapeutic candidate). For more information about the Company and its portfolio, please visit www.xoma.com or follow XOMA Royalty Corporation on LinkedIn.

Forward-Looking Statements/Explanatory Notes

Certain statements contained in this press release are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, including statements regarding the timing and amount of potential commercial payments to XOMA Royalty, expectations around future royalty cash flows covering XOMA Royalty's core operating expenses (the inflection point) and other developments related to VABYSMO(R) (faricimab-svoa), OJEMDA(TM) (tovorafenib), MIPLYFFA(TM) (arimoclomol), XACIATO(TM) (clindamycin phosphate) vaginal gel 2%, IXINITY(R) [coagulation factor IX (recombinant)], DSUVIA(R) (sufentanil sublingual tablet), and DARE to PLAY(TM) Sildenafil Cream and Sildenafil Cream, 3.6%; the potential occurrences and timing of the events listed under " Key 2026 Pipeline Events"; expectations regarding the inflection point in XOMA Royalty's business model of breakeven operating cash flows; the anticipated timings of regulatory filings and approvals related to assets in XOMA Royalty's portfolio; and the potential of XOMA Royalty's portfolio of partnered programs and licensed technologies generating substantial milestone and royalty proceeds over time. In some cases, you can identify such forward-looking statements by terminology such as "anticipate," "intend," "believe," "estimate," "plan," "seek," "project, " "expect," "may," "will", "would," "could" or "should," the negative of these terms or similar expressions. These forward-looking statements are not a guarantee of XOMA Royalty's performance, and you should not place undue reliance on such statements. These statements are based on assumptions that may not prove accurate, and actual results could differ materially from those anticipated due to certain risks inherent in the biotechnology industry, including those related to the fact that our product candidates subject to out-license agreements are still being developed, and our licensees may require substantial funds to continue development which may not be available; we do not know whether there will be, or will continue to be, a viable market for the products in which we have an ownership or royalty interest; and if the therapeutic product candidates to which we have a royalty interest do not receive regulatory approval, our third-party licensees will not be able to market them. Other potential risks to XOMA Royalty meeting these expectations are described in more detail in XOMA Royalty's most recent filing on Form 10-K and in other filings with the Securities and Exchange Commission. Consider such risks carefully when considering XOMA Royalty's prospects. Any forward-looking statement in this press release represents XOMA Royalty's beliefs and assumptions only as of the date of this press release and should not be relied upon as representing its views as of any subsequent date. XOMA Royalty disclaims any obligation to update any forward-looking statement, except as required by applicable law.

EXPLANATORY NOTE: Any references to "portfolio" in this press release refer strictly to milestone and/or royalty rights associated with a basket of drug products in development. Any references to "assets" in this press release refer strictly to milestone and/or royalty rights associated with individual drug products in development.

As of the date of this press release, the commercial assets in XOMA Royalty's milestone and royalty portfolio are VABYSMO(R) (faricimab-svoa), OJEMDA(TM) (tovorafenib), MIPLYFFA(TM) (arimoclomol), XACIATO(TM) (clindamycin phosphate) vaginal gel 2%, IXINITY(R) [coagulation factor IX (recombinant)], DARE to PLAY(TM) (Sildenafil Cream), and DSUVIA(R) (sufentanil sublingual tablet). All other assets in the milestone and royalty portfolio are investigational compounds. Efficacy and safety have not been established. There is no guarantee that any of the investigational compounds will become commercially available.

 
                   XOMA ROYALTY CORPORATION 
             CONSOLIDATED STATEMENTS OF OPERATIONS 
           (in thousands, except per share amounts) 
 
                     Three Months Ended        Year Ended 
                        December 31,          December 31, 
                       2025      2024      2025       2024 
Income and 
revenues: 
  Income from 
   purchased 
   receivables 
   under the EIR 
   method            $ 7,706   $ 5,081   $ 26,745   $ 15,066 
  Income from 
   purchased 
   receivables 
   under the cost 
   recovery method     4,619     1,291     13,744      3,201 
  Revenue from 
   contracts with 
   customers           1,100       600     10,350      6,650 
  Revenue 
   recognized under 
   units-of-revenue 
   method                332     1,742      1,310      3,570 
    Total income 
     and revenues     13,757     8,714     52,149     28,487 
                      ------    ------    -------    ------- 
 
Operating expenses: 
  Research and 
   development           281       864      1,712      2,875 
  General and 
   administrative     10,410     6,993     36,092     34,478 
  Credit losses on 
   purchased 
   receivables            --     7,904         --     30,904 
  Amortization of 
   intangible 
   assets                884       206      2,961        206 
    Total operating 
     expenses         11,575    15,967     40,765     68,463 
                      ------    ------    -------    ------- 
 
    Income (loss) 
     from 
     operations        2,182    (7,253)    11,384    (39,976) 
 
Other income 
(expense), net: 
    Gains on 
     acquisitions      3,220        --     21,224     19,316 
    Change in fair 
     value of 
     embedded 
     derivative 
     related to 
     RPA                  --        --         --      8,100 
    Interest 
     expense          (3,027)   (3,394)   (13,031)   (13,840) 
    Other income, 
     net               3,782     1,021     12,238      6,921 
                      ------    ------    -------    ------- 
Net income (loss) 
 before tax            6,157    (9,626)    31,815    (19,479) 
Income tax 
 (expense) benefit       (54)    5,658       (103)     5,658 
Net income (loss)    $ 6,103   $(3,968)  $ 31,712   $(13,821) 
                      ======    ======    =======    ======= 
 
Net income (loss) 
 available to 
 (attributable to) 
 common 
 stockholders, 
 basic               $ 3,319   $(5,336)  $ 18,516   $(19,293) 
                      ======    ======    =======    ======= 
Basic net income 
 (loss) per share 
 available to 
 (attributable to) 
 common 
 stockholders        $  0.27   $ (0.45)  $   1.53   $  (1.65) 
                      ======    ======    =======    ======= 
Weighted average 
 shares used in 
 computing basic 
 net income (loss) 
 per share 
 available to 
 (attributable to) 
 common 
 stockholders         12,208    11,868     12,081     11,701 
                      ======    ======    =======    ======= 
 
Net income (loss) 
 available to 
 (attributable to) 
 common 
 stockholders, 
 diluted             $ 4,679   $(5,336)  $ 26,184   $(19,293) 
                      ======    ======    =======    ======= 
Diluted net income 
 (loss) per share 
 available to 
 (attributable to) 
 common 
 stockholders        $  0.26   $ (0.45)  $   1.46   $  (1.65) 
                      ======    ======    =======    ======= 
Weighted average 
 shares used in 
 computing diluted 
 net income (loss) 
 per share 
 available to 
 (attributable to) 
 common 
 stockholders         18,095    11,868     17,982     11,701 
                      ======    ======    =======    ======= 
 
 
 
                       XOMA ROYALTY CORPORATION 
                     CONSOLIDATED BALANCE SHEETS 
          (in thousands, except share and per share amounts) 
 
                                          December 31,   December 31, 
                                              2025          2024 
                 ASSETS 
Current assets: 
  Cash and cash equivalents               $    82,908   $   101,654 
  Short-term restricted cash                    5,441         1,330 
  Investment in equity securities                 382         3,529 
  Trade and other receivables, net              4,896         1,839 
  Short-term royalty and commercial 
   payment receivables under the EIR 
   method                                      22,780        14,763 
  Short-term royalty and commercial 
   payment receivables under the cost 
   recovery method                                  -           413 
  Prepaid expenses and other current 
   assets                                         852         2,076 
                                           ----------    ---------- 
     Total current assets                     117,259       125,604 
Long-term restricted cash                      45,361         3,432 
Property and equipment, net                        21            32 
Operating lease right-of-use assets               256           319 
Long-term royalty and commercial payment 
 receivables under the EIR method               4,433         4,970 
Long-term royalty and commercial payment 
 receivables under the cost recovery 
 method                                        55,888        55,936 
Exarafenib milestone asset                      3,600         3,214 
Investment in warrants                            697            -- 
Intangible assets, net                         44,756        25,909 
Other assets - long term                          427         1,861 
     Total assets                         $   272,698   $   221,277 
                                           ==========    ========== 
 
  LIABILITIES AND STOCKHOLDERS' EQUITY 
Current liabilities: 
  Accounts payable                        $     2,208   $     1,053 
  Accrued and other liabilities                 9,885         5,752 
  Contingent consideration under RPAs, 
   AAAs, and CPPAs                                  -         3,000 
  Operating lease liabilities                   2,464           446 
  Unearned revenue recognized under 
   units-of-revenue method                      1,268         1,361 
  Preferred stock dividend accrual              1,424         1,368 
  Current portion of long-term debt            12,526        11,394 
  Contingent value rights liabilities - 
   current portion                              5,045             - 
     Total current liabilities                 34,820        24,374 
Unearned revenue recognized under 
 units-of-revenue method -- long-term           3,193         4,410 
Exarafenib milestone contingent 
 consideration                                  3,600         3,214 
Long-term operating lease liabilities          20,114           483 
Long-term debt                                 96,451       106,875 
Contingent value rights liabilities - 
 long-term                                     10,457             - 
Deferred tax liability                            103             - 
     Total liabilities                        168,738       139,356 
                                           ----------    ---------- 
 
Convertible preferred stock, $0.05 par 
 value, 5,003 shares authorized, issued 
 and outstanding as of December 31, 2025 
 and December 31, 2024                         20,019        20,019 
 
Stockholders' equity: 
  8.625% Series A cumulative, perpetual 
   preferred stock, $0.05 par value, 
   984,000 shares authorized, issued and 
   outstanding as of December 31, 2025 
   and December 31, 2024                           49            49 
  8.375% Series B cumulative, perpetual 
  preferred stock, $0.05 par value, 
  3,600 shares authorized, 1,760.5 and 
  1,600 shares issued and outstanding as 
  of December 31, 2025 and December 31, 
  2024, respectively                               --            -- 
  Common stock, $0.0075 par value, 
   277,333,332 shares authorized, 
   11,858,955 and 11,952,377 shares 
   issued and outstanding as of December 
   31, 2025 and December 31, 2024, 
   respectively                                    89            90 
  Additional paid-in capital                1,305,200     1,298,747 
  Accumulated other comprehensive income           53            73 
  Accumulated deficit                      (1,221,450)   (1,237,057) 
                                           ----------    ---------- 
     Total stockholders' equity                83,941        61,902 
                                           ----------    ---------- 
      Total liabilities, convertible 
       preferred stock and stockholders' 
       equity                             $   272,698   $   221,277 
                                           ==========    ========== 
 
 
 
 
                       XOMA ROYALTY CORPORATION 
                CONSOLIDATED STATEMENTS OF CASH FLOWS 
                            (in thousands) 
 
                                                      Year Ended 
                                                     December 31, 
                                                  2025       2024 
Cash flows from operating activities: 
  Net income (loss)                             $ 31,712   $(13,821) 
  Adjustments to reconcile net loss to net 
  cash used in operating activities: 
    Income from purchased receivables under 
     the EIR method                               (5,925)   (15,066) 
    Stock-based compensation expense               9,273     10,312 
    Gains on acquisitions                        (21,224)   (19,316) 
    Credit losses on purchased receivables            --     30,904 
    Gain on sale of equity securities             (3,663)        -- 
    Income tax expense (benefit)                     103     (5,658) 
    Common stock contribution to 401(k)              141        118 
    Amortization of intangible assets              2,961        206 
    Depreciation                                      11         10 
    Accretion of long-term debt discount and 
     debt issuance costs                           1,385      1,350 
    Non-cash lease expense                            64         60 
    Change in fair value of equity securities        (90)      (131) 
    Change in fair value of available-for-sale 
     debt securities classified as cash 
     equivalents                                     (20)        73 
    Change in fair value of derivatives              (93)        -- 
    CVR liability working capital adjustment        (394)        -- 
    Changes in assets and liabilities: 
     Trade and other receivables, net             (2,426)      (835) 
     Prepaid expenses and other assets             3,839        302 
     Accounts payable and accrued liabilities    (10,597)     1,598 
     Operating lease liabilities                    (876)      (284) 
     Unearned revenue recognized under 
      units-of-revenue method                     (1,310)    (3,570) 
                                                 -------    ------- 
      Net cash provided by (used in) operating 
       activities                                  2,871    (13,748) 
                                                 -------    ------- 
 
Cash flows from investing activities: 
    Net cash acquired in Kinnate acquisition          --     18,926 
    Net cash acquired in Turnstone acquisition     3,850         -- 
    Net cash and restricted cash acquired in 
    HilleVax acquisition                          46,384         -- 
    Net cash, cash equivalents, and restricted 
    cash acquired in LAVA acquisition             15,263         -- 
    Net cash and cash equivalents acquired in 
    Mural acquisition                              4,464         -- 
    Payments of consideration under RPAs, 
     AAAs, and CPPAs                              (8,000)   (53,000) 
    Receipts under RPAs, AAAs, and CPPAs           3,300     29,248 
    Net payment for IP acquired under the 
     Pulmokine Acquisition                            --    (20,176) 
    Payment for BioInvent contract-based 
     intangible asset                            (20,725)        -- 
    Payment of contingent consideration 
     related to Kinnate IP asset                    (550)        -- 
    Purchase of property and equipment                --        (20) 
    Purchase of equity securities                    (99)    (3,237) 
    Sale of equity securities                      6,999         -- 
    Payment to issue short-term loan to Xeno      (5,877)        -- 
    Receipt from short-term loan repayment by 
    Xeno                                           5,877         -- 
      Net cash provided by (used in) investing 
       activities                                 50,886    (28,259) 
                                                 -------    ------- 
 
Cash flows from financing activities: 
  Proceeds from issuance of common stock             323         -- 
  Proceeds from issuance of preferred stock        4,019         -- 
  Payments of preferred and common stock 
   issuance and financing costs                     (672)        -- 
  Principal payments -- debt                     (10,598)    (6,902) 
  Debt issuance costs and loan fees paid in 
   connection with long-term debt                    (80)      (740) 
  Payment of preferred stock dividends            (5,472)    (5,472) 
  Repurchases of common stock                    (16,043)       (13) 
  Proceeds from exercise of options and other 
   share-based compensation                        5,046      5,214 
  Taxes paid related to net share settlement 
   of equity awards                               (2,986)    (3,214) 
      Net cash used in financing activities      (26,463)   (11,127) 
                                                 -------    ------- 
 
Net increase (decrease) in cash, cash 
 equivalents, and restricted cash                 27,294    (53,134) 
Cash, cash equivalents, and restricted cash as 
 of the beginning of the period                  106,416    159,550 
Cash, cash equivalents, and restricted cash as 
 of the end of the period                       $133,710   $106,416 
                                                 =======    ======= 
 
Supplemental Cash Flow Information: 
  Cash paid for interest                        $ 11,906   $  9,985 
  Cash paid for taxes                           $    277   $     -- 
 
Non-cash investing and financing activities: 
  Accrual of contingent value rights liability 
   in the Turnstone acquisition                 $  1,110   $     -- 
  Accrual of contingent value rights liability 
   in the HilleVax acquisition                  $  5,673   $     -- 
  Accrual of contingent value rights liability 
   in the LAVA acquisition                      $  9,114   $     -- 
  Right-of-use assets obtained in exchange for 
   operating lease liabilities in the HilleVax 
   acquisition                                  $ 22,525   $     -- 
  Relative fair value basis reduction of 
   right-of-use assets in the HilleVax 
   acquisition                                  $(22,525)  $     -- 
  Transaction costs in connection with Mural 
   acquisition included in accrued expenses     $    320   $     -- 
  Excise tax accrual due to stock repurchases   $     68   $     -- 
  Reclassification of equity classified awards 
   to liabilities                               $   (739)  $     -- 
  Reclassification of deferred issuance cost 
   to equity                                    $    578   $     -- 
  Preferred stock dividend accrual              $  1,424   $  1,368 
  Estimated fair value of the Exarafenib 
   milestone asset                              $     --   $  2,922 
  Estimated fair value of the Exarafenib 
   milestone contingent consideration           $     --   $ (2,922) 
  Right-of-use assets obtained in exchange for 
   operating lease liabilities in the Kinnate 
   acquisition                                  $     --   $    824 
  Relative fair value basis reduction of 
   rights-of-use assets in the Kinnate 
   acquisition                                  $     --   $   (824) 
  Accrual of contingent consideration under 
   the Affitech CPPA                            $     --   $  3,000 
  Accrual of contingent consideration under 
   the LadRx AAA                                $     --   $  1,000 
 
 
 
Investor contact:         Media contact: 
Juliane Snowden           Kathy Vincent 
XOMA Royalty Corporation  KV Consulting & Management 
+1-646-438-9754           kathy@kathyvincent.com 
juliane.snowden@xoma.com 
 

(1) This amount includes structuring agent fees associated with Repare Therapeutics and ESSA Pharmaceuticals.

(2) https://ir.dayonebio.com/news-releases/news-release-details/day-one-reports-fourth-quarter-and-full-year-2025-financial

(3) https://www.ipsen.com/press-release/ipsen-receives-positive-chmp-opinion-for-ojemda-for-the-treatment-as-monotherapy-of-children-with-relapsed-or-refractory-braf-altered-pediatric-low-grade-glioma-3246394/

(4) https://ir.dayonebio.com/news-releases/news-release-details/servier-and-day-one-biopharmaceuticals-announce-acquisition

(5) https://investors.zevra.com/news-releases/news-release-details/zevra-reports-fourth-quarter-and-full-year-2025-financial

(6) https://ir.rezolutebio.com/news/detail/371/rezolute-reports-second-quarter-fiscal-2026-financial-results-and-provides-business-update

(7) https://ir.gossamerbio.com/news-releases/news-release-details/gossamer-bio-announces-topline-results-phase-3-prosera-study

(8) https://ir.mirumpharma.com/news/news-details/2026/Mirum-Pharmaceuticals-Reports-Fourth-Quarter-and-Year-End-2025-Results-and-Provides-Business-Update/default.aspx

(END) Dow Jones Newswires

March 18, 2026 06:00 ET (10:00 GMT)

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