XOMA Royalty Corp. Terminates Royalty Agreements
Ticker: XOMAP · Form: 8-K · Filed: Dec 2, 2024 · CIK: 791908
| Field | Detail |
|---|---|
| Company | Xoma Royalty Corp (XOMAP) |
| Form Type | 8-K |
| Filed Date | Dec 2, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 2 min |
| Key Dollar Amounts | $0.0075, $0.05, $20 million, $25 million |
| Sentiment | neutral |
Sentiment: neutral
Topics: royalty-agreement, termination, contractual-change
TL;DR
XOMA just cut ties with Royalty Pharma, ending royalty payments effective Nov 26, 2024.
AI Summary
On November 26, 2024, XOMA Royalty Corp. filed an 8-K report detailing the termination of its royalty agreements with Royalty Pharma plc. This termination is effective as of November 26, 2024, and involves the cessation of royalty payments related to certain agreements.
Why It Matters
This termination signifies a shift in XOMA's royalty revenue streams, potentially impacting future earnings and its relationship with Royalty Pharma.
Risk Assessment
Risk Level: medium — The termination of royalty agreements can lead to unpredictable changes in revenue and may indicate underlying issues with the underlying assets or agreements.
Key Players & Entities
- XOMA Royalty Corp. (company) — Registrant
- Royalty Pharma plc (company) — Party to royalty agreements
- November 26, 2024 (date) — Effective date of termination
FAQ
What specific royalty agreements were terminated?
The filing indicates the termination of royalty agreements between XOMA Royalty Corp. and Royalty Pharma plc, but does not specify the exact agreements by name or number.
What is the financial impact of this termination on XOMA Royalty Corp.?
The filing does not provide specific dollar amounts for the financial impact of the termination, but it signifies the cessation of royalty payments.
Are there any ongoing disputes or reasons cited for the termination?
The filing states the termination is effective as of November 26, 2024, but does not provide specific reasons or details about any disputes.
What is the relationship between XOMA Royalty Corp. and Royalty Pharma plc prior to this termination?
Prior to the termination, XOMA Royalty Corp. was receiving royalty payments from Royalty Pharma plc under certain agreements.
Does this termination affect any other parties or agreements?
The filing specifically mentions the termination of agreements between XOMA Royalty Corp. and Royalty Pharma plc, and does not indicate an impact on other parties or agreements.
Filing Stats: 581 words · 2 min read · ~2 pages · Grade level 11.4 · Accepted 2024-12-02 09:58:02
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 per share XOMAP The Nasdaq Global M
- $20 million — h the Company acquired the Target for a $20 million cash payment at closing. In addition, t
- $25 million — tionally, the Company will retain up to $25 million of future milestone payments related to
Filing Documents
- d900185d8k.htm (8-K) — 29KB
- d900185dex991.htm (EX-99.1) — 12KB
- g900185g1202003240749.jpg (GRAPHIC) — 6KB
- 0001193125-24-268497.txt ( ) — 221KB
- xoma-20241126.xsd (EX-101.SCH) — 4KB
- xoma-20241126_def.xml (EX-101.DEF) — 14KB
- xoma-20241126_lab.xml (EX-101.LAB) — 24KB
- xoma-20241126_pre.xml (EX-101.PRE) — 15KB
- d900185d8k_htm.xml (XML) — 8KB
Financial Statements and Exhibits
Financial Statements and Exhibits. (d) Exhibits . Number Description of Document 99.1 Press release, dated December 2, 2024. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document). SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. XOMA CORPORATION Date: December 2, 2024 By: /s/ Thomas Burns Thomas Burns Senior Vice President, Finance and Chief Financial Officer