XOMA Royalty Corp

Listed Company

XOMAOCIK 0000791908NasdaqNon-AcceleratedSmaller ReportingPharmaceutical PreparationsNevadaFY ends Dec 31

Period

FY 2025

Revenue

$52.15M

Net Income

$31.71M

Total Assets

$272.70M

Equity

$83.94M

Shares Out

11.91M

Op. Cash Flow

$2.87M

Business

XOMA Royalty Corp is a biotech royalty aggregator that acquires and manages economic rights to future milestone and royalty payments from partnered therapeutic candidates. It offers a portfolio of royalty streams and milestone payment rights tied to commercial, late-stage and early- to mid-stage clinical assets, as well as acquired intellectual property and contingent value rights. Key business segments include commercial assets, Phase 3 and Phase 2 programs, pre‑commercial programs and acquisition activity to expand its royalty portfolio. Its markets and distribution channels are global, relying on partnerships and licensees—large pharmaceutical companies and specialty biotechs—to develop, commercialize and sell the underlying products.

Summary from filing dated 2025-03-17

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Income from purchased receivables under the EIR method	27	15	—	—	—
Income from purchased receivables under the cost recovery method	14	3	—	—	—
Revenue from contracts with customers	10	7	3	4	37
Revenue recognized under units-of-revenue method	1	4	2	—	—
Total income and revenues	52	28	5	6	38
Research and development	2	3	143,000	153,000	171,000
General and administrative	36	35	26	23	20
Credit losses on purchased receivables	—	31	2	—	—
Amortization of intangible assets	3	206,000	897,000	97,000	—
Total operating expenses	41	68	47	23	21
Income (loss) from operations	11	−40	−42	−17	18
Gains on acquisitions	21	19	—	—	—
Change in fair value of embedded derivative related to RPA	—	8	—	—	—
Interest expense	−13	−14	−569,000	—	−461,000
Other income, net	12	7	2	295,000	−879,000
Net income (loss) before tax	32	−19	−41	−17	16
Income tax (expense) benefit	−103,000	6	0	15,000	−100,000
Net income (loss)	32	−14	−41	−17	16
Net income (loss) available to (attributable to) common stockholders, basic	19	−19	−46	−23	8
Net income (loss) available to (attributable to) common stockholders, diluted	26	−19	−46	−23	8
Net income (loss) per share available to (attributable to) common stockholders, basic (in dollars per share)	1.53	−1.65	−4.04	−1.98	0.69
Net income (loss) per share available to (attributable to) common stockholders, diluted (in dollars per share)	1.46	−1.65	−4.04	−1.98	0.65
Weighted-average shares used in computing net income (loss) per share available to (attributable to) common stockholders, basic (in shares)	12	12	11	11,413	11
Weighted-average shares used in computing net income (loss) per share available to (attributable to) common stockholders, diluted (in shares)	18	12	11	11,413	12

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	83	102	153	58	93
Short-term restricted cash	5	1	160,000	—	2
Investment in equity securities	400,000	4	200,000	335,000	774,000
Trade and other receivables, net	5	2	1	1,000	209,000
Short-term royalty and commercial payment receivables under the EIR method	23	15	0	—	—
Short-term royalty and commercial payment receivables under the cost recovery method	0	400,000	14	—	—
Prepaid expenses and other current assets	852,000	2	483,000	725,000	613,000
Total current assets	117	126	169	61	97
Long-term restricted cash	45	3	6	—	—
Property and equipment, net	21,000	32,000	25,000	7,000	13,000
Operating lease right-of-use assets	256,000	319,000	378,000	29,000	200,000
Long-term royalty and commercial payment receivables under the EIR method	4	5	0	—	—
Long-term royalty and commercial payment receivables under the cost recovery method	56	56	58	—	—
Exarafenib milestone asset (Note 6)	4	3	—	—	—
Investment in warrants	697,000	—	—	—	—
Intangible assets, net	45	26	—	15	—
Other assets - long term	427,000	2	533,000	260,000	301,000
Total assets	273	221	234	140	167
Accounts payable	2	1	653,000	524,000	1
Accrued and other current liabilities	10	6	3	3	525,000
Contingent consideration under RPAs, AAAs, and CPPAs	0	3	7	75,000	8
Operating lease liabilities	3	400,000	100,000	34,000	195,000
Unearned revenue recognized under units-of-revenue method	1	1	2	2	2
Preferred stock dividend accrual	1	1	1	1	1
Current portion of long-term debt	13	11	6	—	—
Contingent value rights liabilities - current portion	5	—	—	—	—
Total current liabilities	35	24	19	7	13
Unearned revenue recognized under units-of-revenue method - long-term	3	4	7	10	12
Exarafenib milestone contingent consideration (Note 6)	4	3	—	—	—
Long-term operating lease liabilities	20	500,000	300,000	—	34,000
Long-term debt	96	107	119	—	—
Contingent value rights liabilities - long-term	10	—	—	—	—
Deferred tax liability	103,000	—	—	—	—
Total liabilities	169	139	146	16	25
Commitments and Contingencies (Note 11)	—	—	—	—	—
Convertible preferred stock, $0.05 par value, 5,003 shares authorized, issued and outstanding as of December 31, 2025 and December 31, 2024	20	20	—	—	—
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	89,000	90,000	86,000	86,000	85,000
Additional paid-in capital	1,305	1,299	1,312	1,306	1,307
Accumulated other comprehensive income	53,000	73,000	—	—	—
Accumulated deficit	−1,221	−1,237	−1,223	−1,182	−1,165
Total stockholders' equity	84	62	89	124	142
Total liabilities, convertible preferred stock and stockholders' equity	273	221	234	140	167

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Net income (loss)	32	−14	−41	−17	16
Adjustment for income from EIR method purchased receivables	−6	−15	—	—	—
Stock-based compensation expense	9	10	9	4	6
Gain on sale of equity securities	−4	−100,000	200,000	439,000	919,000
Income tax expense (benefit)	103,000	−6	—	—	—
Common stock contribution to 401(k)	141,000	118,000	123,000	85,000	90,000
Depreciation	11,000	10,000	3,000	7,000	7,000
Accretion of long-term debt discount and debt issuance costs	1	1	34,000	—	200,000
Non-cash lease expense	64,000	60,000	119,000	170,000	160,000
Change in fair value of equity securities	−100,000	−100,000	—	—	—
Change in fair value of available-for-sale debt securities classified as cash equivalents	−20,000	73,000	—	—	—
Change in fair value of derivatives	−93,000	—	—	—	—
CVR liability working capital adjustment	−394,000	—	—	—	—
Trade and other receivables, net	−2	−835,000	−1	208,000	54,000
Prepaid expenses and other assets	4	302,000	219,000	−71,000	−169,000
Accounts payable and accrued liabilities	−11	2	−523,000	2	765,000
Operating lease liabilities	−876,000	−284,000	−114,000	−195,000	−179,000
Unearned revenue recognized under units-of-revenue method	−1	−4	−2	−2	−2
Net cash provided by (used in) operating activities	3	−14	−18	−13	23
Payments of consideration under RPAs, AAAs, and CPPAs	−8	−53	−15	−8	—
Receipts under RPAs, AAAs, and CPPAs	3	29	14	3	—
Net payment for IP acquired under the Pulmokine Acquisition	—	−20	—	—	—
Payment for BioInvent contract-based intangible asset	−21	−20	—	−15	—
Payment of contingent consideration related to Kinnate IP asset	−550,000	—	—	−8	−27
Purchase of property and equipment	—	−20,000	−17,000	—	—
Purchase of equity securities	−99,000	−3	—	—	—
Sale of equity securities	7	—	—	—	—
Payment to issue short-term loan to Xeno	−6	—	—	—	—
Receipt from short-term loan repayment by Xeno	6	—	—	—	—
Net cash provided by (used in) investing activities	51	−28	−711,000	−20	−27
Proceeds from issuance of common stock	323,000	—	—	—	—
Proceeds from issuance of preferred stock	4	—	—	—	40
Payments of preferred and common stock issuance and financing costs	−672,000	—	—	—	—
Principal payments - debt	−11	−7	—	—	—
Debt issuance costs and loan fees paid in connection with long-term debt	−80,000	−740,000	—	—	—
Payment of preferred stock dividends	−5	−5	−5	−5	−3
Repurchases of common stock	−16	−13,000	—	—	—
Proceeds from exercise of options and other share-based compensation	5	5	466,000	2	2
Taxes paid related to net share settlement of equity awards	−3	−3	−148,000	−1	−488,000
Net cash used in financing activities	−26	−11	121	−4	13
Net increase (decrease) in cash, cash equivalents, and restricted cash	27	−53	102	−38	9
Cash paid for interest	12	10	—	—	311,000
Cash paid for taxes	277,000	—	—	76,000	—
Excise tax accrual due to stock repurchases	68,000	—	—	—	—
Reclassification of equity classified awards to liabilities	−739,000	—	—	—	—
Reclassification of deferred issuance cost to equity	578,000	—	—	—	—
Estimated fair value of the Exarafenib milestone asset	—	3	—	—	—
Accrual of contingent consideration under the Affitech CPPA	—	3	6	—	—
Accrual of contingent consideration under the LadRx AAA	—	1	—	—	—

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