XOMA Receives $8.1 Million Milestone Related to Day One Biopharmaceuticals’ Sale of its Priority Review Voucher
12 Juin 2024 - 1:30PM
XOMA Corporation (NASDAQ: XOMA), the biotech royalty aggregator,
announced today it has received an $8.1 million milestone payment
from Viracta Therapeutics, Inc., related to Day One
Biopharmaceuticals’ recent sale of its Priority Review Voucher
(PRV) for $108 million to an undisclosed buyer.
“OJEMDA™ offers patients six months of age and older who have
relapsed or refractory BRAF-altered pediatric low-grade glioma
(pLGG) the only approved therapy studied in and approved
specifically for pLGG driven by BRAF fusions,” stated Owen Hughes,
Chief Executive Officer of XOMA. “With this milestone in
hand, we have more than recouped our initial capital outlay.
And importantly, we anticipate future royalties on OJEMDA™ will
contribute to a growing portfolio of royalty receipts that will
help us drive sustainable free cash flow generation over
time.”
In March 2021, XOMA paid $13.5 million upfront to acquire up to
$54 million in potential milestones and mid-single digit royalties
associated with OJEMDA™ (tovorafenib), as well as economics
associated with vosaroxin, from Viracta Therapeutics.
About XOMA Corporation
XOMA is a biotechnology royalty aggregator playing a distinctive
role in helping biotech companies achieve their goal of improving
human health. XOMA acquires the potential future economics
associated with pre-commercial and commercial therapeutic
candidates that have been licensed to pharmaceutical or
biotechnology companies. When XOMA 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
the Company 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 and other developments
related to OJEMDA™ (tovorafenib). In some cases, you can
identify such forward-looking statements by terminology such as
“expect,” “may,” “will”, or “could,” the negative of these terms or
similar expressions. These forward-looking statements are not
a guarantee of XOMA’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 meeting these
expectations are described in more detail in XOMA'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's prospects. Any forward-looking statement
in this press release represents XOMA'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 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’s milestone and royalty portfolio are VABYSMO®
(faricimab-svoa), OJEMDA™ (tovorafenib), XACIATO™ (clindamycin
phosphate) vaginal gel 2%, IXINITY® [coagulation factor IX
(recombinant)], and DSUVIA® (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 Investor Contact
XOMA
Media ContactJuliane Snowden
Kathy VincentXOMA
Corporation
KV Consulting & Management+1 646-438-9754
+1
310-403-8951juliane.snowden@xoma.com
kathy@kathyvincent.com
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