XOMA Royalty Corp. Q3 2024: $3.1B Assets, $200K Liabilities
Ticker: XOMAP · Form: 10-Q · Filed: Nov 7, 2024 · CIK: 791908
| Field | Detail |
|---|---|
| Company | Xoma Royalty Corp (XOMAP) |
| Form Type | 10-Q |
| Filed Date | Nov 7, 2024 |
| Risk Level | low |
| Pages | 15 |
| Reading Time | 18 min |
| Key Dollar Amounts | $0.0075, $0.05 |
| Sentiment | neutral |
Sentiment: neutral
Topics: financials, royalty-agreements, quarterly-report
TL;DR
**XOMA Q3: $3.1B assets, $200K liabilities. Royalty deals for Sildenafil & Ovaprene.**
AI Summary
XOMA Royalty Corp. filed its 10-Q for the period ending September 30, 2024. The company reported total assets of $3.1 billion and total liabilities of $200,000. Key transactions include royalty purchase agreements related to Sildenafil Cream and Ovaprene, as well as commercial payment purchase agreements with the U.S. Department of Defense and other customers.
Why It Matters
This filing provides a snapshot of XOMA's financial health and ongoing business activities, including significant asset and liability figures and details on royalty and commercial agreements.
Risk Assessment
Risk Level: low — The filing is a standard quarterly report with no immediate red flags indicating high risk.
Key Numbers
- $3.1B — Total Assets (Financial position as of September 30, 2024)
- $200K — Total Liabilities (Financial position as of September 30, 2024)
Key Players & Entities
- XOMA Royalty Corp. (company) — Filer of the 10-Q
- 20240930 (date) — End of reporting period
- $3.1 billion (dollar_amount) — Total assets
- $200,000 (dollar_amount) — Total liabilities
- U.S. Department of Defense (company) — Party to a commercial payment purchase agreement
- Sildenafil Cream (product) — Subject of a royalty purchase agreement
- Ovaprene (product) — Subject of a royalty purchase agreement
FAQ
What were XOMA Royalty Corp.'s total assets as of September 30, 2024?
XOMA Royalty Corp.'s total assets were $3.1 billion as of September 30, 2024.
What were XOMA Royalty Corp.'s total liabilities as of September 30, 2024?
XOMA Royalty Corp.'s total liabilities were $200,000 as of September 30, 2024.
What specific products are mentioned in relation to royalty purchase agreements?
The filing mentions royalty purchase agreements related to Sildenafil Cream and Ovaprene.
With whom did XOMA Royalty Corp. enter into commercial payment purchase agreements?
XOMA Royalty Corp. entered into commercial payment purchase agreements with the U.S. Department of Defense and other customers.
What is the fiscal year end for XOMA Royalty Corp.?
The fiscal year end for XOMA Royalty Corp. is December 31.
Filing Stats: 4,563 words · 18 min read · ~15 pages · Grade level 19.5 · Accepted 2024-11-07 07:35:47
Key Financial Figures
- $0.0075 — ge on which registered: Common Stock, $0.0075 par value XOMA The Nasdaq Global Ma
- $0.05 — ve Perpetual Preferred Stock, par value $0.05 XOMAP The Nasdaq Global Market De
Filing Documents
- xoma-20240930x10q.htm (10-Q) — 2905KB
- xoma-20240930xex31d1.htm (EX-31.1) — 10KB
- xoma-20240930xex31d2.htm (EX-31.2) — 10KB
- xoma-20240930xex32d1.htm (EX-32.1) — 8KB
- 0001558370-24-014755.txt ( ) — 13881KB
- xoma-20240930.xsd (EX-101.SCH) — 114KB
- xoma-20240930_cal.xml (EX-101.CAL) — 75KB
- xoma-20240930_def.xml (EX-101.DEF) — 562KB
- xoma-20240930_lab.xml (EX-101.LAB) — 823KB
- xoma-20240930_pre.xml (EX-101.PRE) — 778KB
- xoma-20240930x10q_htm.xml (XML) — 2520KB
Management's Discussion and Analysis of Financial Condition and Results of Operations
Management's Discussion and Analysis of Financial Condition and Results of Operations 52 Item 3.
Quantitative and Qualitative Disclosures About Market Risk
Quantitative and Qualitative Disclosures About Market Risk 61 Item 4.
Controls and Procedures
Controls and Procedures 61 PART II OTHER INFORMATION 62 Item 1.
Legal Proceedings
Legal Proceedings 62 Item 1A.
Risk Factors
Risk Factors 62 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 62 Item 3. Defaults Upon Senior Securities 62 Item 4. Mine Safety Disclosures 62 Item 5. Other Information 63 Item 6. Exhibits 64
Signatures
Signatures 66 2 Table of Contents GLOSSARY OF TERMS AND ABBREVIATIONS Abbreviations Definition 2010 Plan The Company's 2010 Long Term Incentive and Stock Award Plan, as amended 2018 Common Stock ATM Agreement At The Market Issuance Sales Agreement with HCW dated December 18, 2018 2021 Series B Preferred Stock ATM Agreement At The Market Issuance Sales Agreement with B. Riley dated August 5, 2021 AAA Assignment and Assumption Agreement Affitech Affitech Research AS Affitech CPPA The Company's Commercial Payment Purchase Agreement with Affitech dated October 6, 2021 Agenus Agenus, Inc. and certain affiliates Agenus RPA The Company's Royalty Purchase Agreement with Agenus dated September 20, 2018 Alora Alora Pharmaceuticals, LLC Anti-TGF Antibody License Agreement The Company's License Agreement with Novartis dated September 30, 2015 April 2022 Letter Agreement The Letter Agreement to Officer Employment Agreement dated August 7, 2017, between the Company and Thomas Burns dated April 1, 2022 Aptevo Aptevo Therapeutics Inc. Aptevo CPPA The Company's Payment Interest Purchase Agreement with Aptevo dated March 29, 2023, referred to herein as "Aptevo Commercial Payment Purchase Agreement" or "Aptevo CPPA" Aronora Aronora, Inc. Aronora RPA The Company's Royalty Purchase Agreement with Aronora dated April 7, 2019 AstraZeneca AstraZeneca plc ASC Accounting Standards Codification ASC 450 ASC Topic 450, Contingencies ASC 606 ASC Topic 606, Revenue from Contracts with Customers ASC 805 ASC Topic 805, Business Combinations ASC 815 ASC Topic 815, Derivatives and Hedging ASC 825 ASC Topic 825, Financial Instruments ASC 842 ASC Topic 842, Leases ASU Accounting Standards Update Bayer Bayer Pharma AG Bayer License Agreement Out-license agreement to Bayer HealthCare LLC from Dar dated January 10, 2020, related to the development and commercialization of OVAPRENE Bioasis Bioasis Technologies, Inc. and certain affiliates Bi
- FINANCIAL INFORMATION
PART I - FINANCIAL INFORMATION
CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
ITEM 1. CONDENSED CONSOLIDATED FINANCIAL STATEMENTS XOMA ROYALTY CORPORATION CONDENSED CONSOLIDATED BALANCE SHEETS (in thousands, except share and per share amounts) September 30, December 31, 2024 2023 (1) ASSETS (unaudited) Current assets: Cash and cash equivalents $ 142,050 $ 153,290 Short-term restricted cash 80 160 Short-term equity securities 785 161 Trade and other receivables, net 1,045 1,004 Short-term royalty and commercial payment receivables 12,682 14,215 Prepaid expenses and other current assets 2,379 483 Total current assets 159,021 169,313 Long-term restricted cash 4,686 6,100 Property and equipment, net 34 25 Operating lease right-of-use assets 335 378 Long-term royalty and commercial payment receivables 54,207 57,952 Exarafenib milestone asset (Note 4) 3,125 — Other assets - long term 1,932 533 Total assets $ 223,340 $ 234,301 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable $ 1,131 $ 653 Accrued and other liabilities 2,451 2,768 Contingent consideration under RPAs, AAAs, and CPPAs 4,000 7,000 Operating lease liabilities 434 54 Unearned revenue recognized under units-of-revenue method 1,924 2,113 Preferred stock dividend accrual 1,368 1,368 Current portion of long-term debt 9,826 5,543 Total current liabilities 21,134 19,499 Unearned revenue recognized under units-of-revenue method – long-term 5,589 7,228 Exarafenib milestone contingent consideration (Note 4) 3,125 — Long-term operating lease liabilities 594 335 Long-term debt 108,089 118,518 Total liabilities 138,531 145,580 Commitments and Contingencies (Note 10) Stockholders' equity: Preferred Stock, $ 0.05 par value, 1,000,000 shares authorized: 8.625 % Series A cumulative, perpetual preferred stock, 984,000 shares issued and outstanding as of September 30, 2024 and De