By Colin Kellaher
Shares of Xoma Royalty moved higher in premarket trading Monday after The Wall Street Journal reported that the drug-royalty company has agreed to be acquired by larger peer Ligand Pharmaceuticals for around $740 million.
Ligand, based in Jupiter, Fla., will pay $39 a share in cash for Xoma, a 2.9% premium to Friday's closing price of $37.90 for the Emeryville, Calif., company, The Journal reported, citing people familiar with the matter.
The deal could be announced as early as Monday.
Xoma shares were recently up 3.4% at $36.62 in premarket trading.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
April 27, 2026 06:12 ET (10:12 GMT)
Copyright (c) 2026 Dow Jones & Company, Inc.
Comments