XOMA Royalty Corp
xoma.comWhat Do They Do?
Provides capital to biotech and pharmaceutical companies in exchange for rights to future milestone and royalty payments on drug candidates and marketed products.
10-K for FY2025, filed Mar 18, 2026
How Do They Make Money?
XOMA receives upfront license fees, milestone payments and royalties on licensed-product sales from counterparties. License fees are earned when rights are transferred, milestones when reached, and royalties as the related sales occur.
10-K for FY2025, filed Mar 18, 2026The Company recognizes revenue from its license arrangements. The terms of the arrangements generally include payment to the Company of one…View ↗
If the license to the Company’s intellectual property is determined to be distinct from the other performance obligations identified in the…View ↗
F-15 identifiable in the context of the arrangement. Since the Company grants the license to a customer as it exists at the point of…View ↗
If it is probable that a significant cumulative revenue reversal would not occur, the associated milestone value is included in the…View ↗
For arrangements that include sales-based royalties, including milestone payments based on the level of sales, where the license is deemed…View ↗
$52.1M
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10-K for FY2025, filed Mar 18, 2026
$52.1M ↗
Who Are Their Customers?
Biotech companies receive capital in exchange for economic rights to future milestones and royalties; licensees and product marketers make payments under arrangements that include upfront fees, milestones and sales-based royalties.
10-K for FY2025, filed Mar 18, 2026
Do Revenues Turn Into Profits?
Yes. It kept 61 cents of every revenue dollar as net income in FY2025.
10-K for FY2025, filed Mar 18, 2026
How Are They Changing?
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Jul 14, 2026
Ligand completed its acquisition of XOMA Royalty
Stockholders received $39.00 per share in cash and a contingent value right; XOMA Royalty’s common stock stopped trading on Nasdaq.
Sources
8-K, filed Jul 14, 2026
Pursuant to the terms of the transaction announced on April 27, 2026, Ligand acquired all of the outstanding shares of XOMA Royalty common…View ↗
Growing. Revenue grew 37% in 4 years, from $38.2M in FY2021 to $52.1M in FY2025, about 8% a year.
Broader asset stages
The earlier report described pre-commercial assets as the ideal acquisition targets. The latest report also says it acquires milestone and royalty streams tied to late-stage clinical and commercial assets.
10-K for FY2022, filed Mar 9, 2023 10-K for FY2025, filed Mar 18, 2026Our strategy is to expand our portfolio by acquiring additional potential milestone and royalty revenue streams on drug product candidates…View ↗
Our royalty aggregator business is primarily focused on early to mid-stage clinical assets, primarily in Phase 1 and 2 development, which…View ↗
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