$XOMA
XOMA Royalty Corp

2020 Q4 Form 10-Q Financial Statement

#000155837020012713 Filed on November 05, 2020

View on sec.gov

Income Statement

Concept 2020 Q4 2020 Q3 2019 Q4
Revenue $27.58M $557.0K $422.0K
YoY Change 6435.55% -93.71% -74.96%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $3.670M $3.210M $4.290M
YoY Change -14.45% -44.85% -0.92%
% of Gross Profit
Research & Development $40.00K $34.00K $130.0K
YoY Change -69.23% -76.22% -45.83%
% of Gross Profit
Depreciation & Amortization $0.00 $10.00K $10.00K
YoY Change -100.0% 0.0% 0.0%
% of Gross Profit
Operating Expenses $3.708M $3.246M $4.423M
YoY Change -16.17% -45.57% -3.09%
Operating Profit $23.87M -$2.689M -$4.001M
YoY Change -696.65% -193.01% 16.92%
Interest Expense -$1.240M $1.610M -$780.0K
YoY Change 58.97% -831.82% 160.0%
% of Operating Profit -5.19%
Other Income/Expense, Net -$1.181M $1.612M -$320.0K
YoY Change 269.06% 461.67% -202.56%
Pretax Income $22.69M -$1.077M -$4.321M
YoY Change -625.13% -133.89% 38.94%
Income Tax $25.00K $0.00
% Of Pretax Income 0.11%
Net Earnings $22.67M -$1.077M -$4.321M
YoY Change -624.55% -133.89% 43.46%
Net Earnings / Revenue 82.18% -193.36% -1023.93%
Basic Earnings Per Share $1.40 -$0.10 -$0.49
Diluted Earnings Per Share $1.32 -$0.10 -$0.49
COMMON SHARES
Basic Shares Outstanding 11.02M 11.02M
Diluted Shares Outstanding 11.02M

Balance Sheet

Concept 2020 Q4 2020 Q3 2019 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $84.20M $45.70M $56.70M
YoY Change 48.5% 15.11% 23.8%
Cash & Equivalents $86.36M $45.73M $56.69M
Short-Term Investments
Other Short-Term Assets $2.000M $700.0K $400.0K
YoY Change 400.0% 40.0% 0.0%
Inventory
Prepaid Expenses
Receivables $300.0K $200.0K $2.900M
Other Receivables $1.500M $1.500M $0.00
Total Short-Term Assets $88.07M $48.14M $59.97M
YoY Change 46.84% 9.3% 25.92%
LONG-TERM ASSETS
Property, Plant & Equipment $21.00K $24.00K $34.00K
YoY Change -38.24% -40.0% -42.37%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $1.700M $2.600M $700.0K
YoY Change 142.86% 188.89% 75.0%
Other Assets $41.00K $215.0K $151.0K
YoY Change -72.85% -74.16% -78.67%
Total Long-Term Assets $37.22M $37.58M $35.75M
YoY Change 4.11% -10.62% 121.25%
TOTAL ASSETS
Total Short-Term Assets $88.07M $48.14M $59.97M
Total Long-Term Assets $37.22M $37.58M $35.75M
Total Assets $125.3M $85.73M $95.72M
YoY Change 30.88% -0.43% 50.07%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $456.0K $450.0K $614.0K
YoY Change -25.73% -51.25% -50.64%
Accrued Expenses $800.0K $600.0K $1.100M
YoY Change -27.27% -82.86% -52.17%
Deferred Revenue $798.0K $798.0K
YoY Change 0.0% 0.0%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $8.088M $8.962M $5.184M
YoY Change 56.02% 125.12% 557.03%
Total Short-Term Liabilities $12.30M $12.34M $8.875M
YoY Change 38.61% 22.26% 55.62%
LONG-TERM LIABILITIES
Long-Term Debt $12.76M $20.99M $27.09M
YoY Change -52.89% -26.86% 24.91%
Other Long-Term Liabilities $50.00K $134.0K $43.00K
YoY Change 16.28% -70.68% -92.71%
Total Long-Term Liabilities $12.81M $21.12M $27.14M
YoY Change -52.78% -27.55% 21.8%
TOTAL LIABILITIES
Total Short-Term Liabilities $12.30M $12.34M $8.875M
Total Long-Term Liabilities $12.81M $21.12M $27.14M
Total Liabilities $38.86M $47.69M $51.74M
YoY Change -24.89% -20.93% 14.97%
SHAREHOLDERS EQUITY
Retained Earnings -$1.181B -$1.204B -$1.194B
YoY Change -1.11% 1.15% 0.17%
Common Stock $84.00K $83.00K $73.00K
YoY Change 15.07% 27.69% 12.31%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $86.42M $38.04M $43.99M
YoY Change
Total Liabilities & Shareholders Equity $125.3M $85.73M $95.72M
YoY Change 30.88% -0.43% 50.07%

Cashflow Statement

Concept 2020 Q4 2020 Q3 2019 Q4
OPERATING ACTIVITIES
Net Income $22.67M -$1.077M -$4.321M
YoY Change -624.55% -133.89% 43.46%
Depreciation, Depletion And Amortization $0.00 $10.00K $10.00K
YoY Change -100.0% 0.0% 0.0%
Cash From Operating Activities $17.68M -$2.440M -$4.150M
YoY Change -526.02% -164.21% 53.14%
INVESTING ACTIVITIES
Capital Expenditures $0.00 -$10.00K $0.00
YoY Change
Acquisitions
YoY Change
Other Investing Activities -$200.0K $0.00
YoY Change
Cash From Investing Activities -$200.0K -$10.00K $0.00
YoY Change -99.92%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 23.16M -1.320M 21.09M
YoY Change 9.82% -119.94% 5.13%
NET CHANGE
Cash From Operating Activities 17.68M -2.440M -4.150M
Cash From Investing Activities -200.0K -10.00K 0.000
Cash From Financing Activities 23.16M -1.320M 21.09M
Net Change In Cash 40.64M -3.770M 16.94M
YoY Change 139.91% 46.12% -2.36%
FREE CASH FLOW
Cash From Operating Activities $17.68M -$2.440M -$4.150M
Capital Expenditures $0.00 -$10.00K $0.00
Free Cash Flow $17.68M -$2.430M -$4.150M
YoY Change -526.02% -163.95% 53.14%

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IncreaseDecreaseInOperatingLeaseLiabilities
-1634000
us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
409000
us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
594000
CY2019Q3 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
122000
CY2019Q3 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
1494000
CY2019Q3 us-gaap Net Income Loss
NetIncomeLoss
3178000
CY2019Q3 us-gaap Stockholders Equity
StockholdersEquity
25786000
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
265000
CY2020Q2 us-gaap Stockholders Equity
StockholdersEquity
38395000
CY2020Q3 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
16000
CY2020Q3 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
708000
CY2020Q3 us-gaap Net Income Loss
NetIncomeLoss
-1077000
CY2020Q3 us-gaap Stockholders Equity
StockholdersEquity
38042000
CY2018Q4 us-gaap Stockholders Equity
StockholdersEquity
18785000
CY2019Q1 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
115000
CY2019Q1 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
102000
CY2019Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
1728000
CY2019Q1 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
66000
CY2019Q1 us-gaap Net Income Loss
NetIncomeLoss
3233000
CY2019Q1 us-gaap Stockholders Equity
StockholdersEquity
24029000
CY2019Q2 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
8000
CY2019Q2 us-gaap Stock Issued During Period Value Employee Stock Purchase Plan
StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
16000
CY2019Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
1011000
CY2019Q2 us-gaap Net Income Loss
NetIncomeLoss
-4072000
CY2019Q2 us-gaap Stockholders Equity
StockholdersEquity
20992000
us-gaap Profit Loss
ProfitLoss
-9368000
us-gaap Profit Loss
ProfitLoss
2339000
us-gaap Share Based Compensation
ShareBasedCompensation
3269000
us-gaap Share Based Compensation
ShareBasedCompensation
4233000
xoma Defined Contribution Plan Issuance Of Common Stock For Services Or Claims
DefinedContributionPlanIssuanceOfCommonStockForServicesOrClaims
88000
xoma Defined Contribution Plan Issuance Of Common Stock For Services Or Claims
DefinedContributionPlanIssuanceOfCommonStockForServicesOrClaims
102000
us-gaap Depreciation And Amortization
DepreciationAndAmortization
19000
us-gaap Depreciation And Amortization
DepreciationAndAmortization
19000
us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
546000
us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
390000
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
1409000
xoma Operating Lease Payments Non Cash
OperatingLeasePaymentsNonCash
-112000
xoma Operating Lease Payments Non Cash
OperatingLeasePaymentsNonCash
-1464000
us-gaap Equity Securities Fv Ni Realized Gain Loss
EquitySecuritiesFvNiRealizedGainLoss
1891000
us-gaap Equity Securities Fv Ni Realized Gain Loss
EquitySecuritiesFvNiRealizedGainLoss
481000
us-gaap Increase Decrease In Accounts And Other Receivables
IncreaseDecreaseInAccountsAndOtherReceivables
-1302000
us-gaap Increase Decrease In Accounts And Other Receivables
IncreaseDecreaseInAccountsAndOtherReceivables
2358000
us-gaap Increase Decrease In Income Taxes Receivable
IncreaseDecreaseInIncomeTaxesReceivable
1526000
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
319000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
9401000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
3863000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-10963000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-6036000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
9000
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
56688000
CY2018Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
45780000
CY2020Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
45725000
CY2019Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
39744000
us-gaap Interest Paid Net
InterestPaidNet
546000
us-gaap Interest Paid Net
InterestPaidNet
357000
xoma Interest Added Principal Balances Long Term Debt
InterestAddedPrincipalBalancesLongTermDebt
317000
xoma Interest Added Principal Balances Long Term Debt
InterestAddedPrincipalBalancesLongTermDebt
376000
us-gaap Issuance Of Stock And Warrants For Services Or Claims
IssuanceOfStockAndWarrantsForServicesOrClaims
66000
xoma Estimated Fair Value Of Contingent Consideration Under Royalty Purchase Agreements
EstimatedFairValueOfContingentConsiderationUnderRoyaltyPurchaseAgreements
75000
us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
9500000
us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
231000
us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
377000
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
3188000
us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
14000
us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
11000
xoma Proceeds From Repayments For Disgorgement
ProceedsFromRepaymentsForDisgorgement
13000
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
16000
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
504000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-3368000
xoma Payments Related To Purchase Of Royalty Rights
PaymentsRelatedToPurchaseOfRoyaltyRights
19300000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-9000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-19300000
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
26000
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
17000
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
42000
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
776000
us-gaap Nature Of Operations
NatureOfOperations
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;margin:0pt 0pt 12pt 0pt;">1. Description of Business</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">XOMA Corporation (referred to as “XOMA” or the “Company”), a Delaware corporation, is a biotech royalty aggregator with a sizable portfolio of economic rights to future potential milestone and royalty payments associated with partnered pre-commercial therapeutic candidates. The Company’s portfolio was built through licensing its proprietary products and platforms from its legacy discovery and development business, combined with acquisitions of rights to future milestones and royalties that the Company has made since the royalty aggregator business model was implemented in 2017. The Company expects that most of its future revenue will be based on payments the Company may receive for milestones and royalties related to these programs.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;margin:0pt 0pt 12pt 0pt;">Liquidity and Financial Condition</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt;">The Company has incurred significant operating losses and negative cash flows from operations since its inception. As of September 30, 2020, the Company had cash of $45.7 million. Based on the Company’s current cash balance and its ability to control discretionary spending, such as royalty acquisitions, the Company has evaluated and concluded its financial condition is sufficient to fund its planned operations and commitments and contractual obligations for a period of at least one year following the date that these condensed consolidated financial statements are issued.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;"><span style="visibility:hidden;">​</span></p>
CY2020Q3 us-gaap Cash
Cash
45700000
us-gaap Use Of Estimates
UseOfEstimates
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:italic;font-weight:bold;margin:0pt 0pt 12pt 0pt;">Use of Estimates</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt;">The preparation of financial statements in conformity with GAAP in the United States requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenue and expenses, and related disclosures. On an ongoing basis, management evaluates its estimates including, but not limited to, those related to revenue recognition, revenue recognized under units-of-revenue method, royalty receivables, equity securities, operating lease right-of-use assets and liabilities, legal contingencies, contingent considerations under royalty purchase agreements, stock-based compensation and income taxes. The Company bases its estimates on historical experience and on various other market-specific and other relevant assumptions that are believed to be reasonable under the circumstances, the results of </p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;">which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">Actual results may differ significantly from these estimates, such as the Company’s billing under government contracts and amortization of the payments received from HealthCare Royalty Partners II, L.P. (“HCRP”). Under the Company’s contracts with the National Institute of Allergy and Infectious Diseases (“NIAID”), a part of the National Institutes of Health (“NIH”), the Company billed using NIH’s provisional rates and thus is subject to future audits at the discretion of NIAID’s contracting office. In October of 2019, NIH notified the Company that it engaged KPMG to perform an audit of the Company’s incurred cost submissions for 2013, 2014 and 2015. This audit is not complete and may result in an adjustment to revenue previously reported which potentially could be material. In addition, under the contracts with HCRP, the amortization for the reporting period is calculated based on the payments expected to be made by the licensees to HCRP over the term of the arrangement. Any changes to the estimated payments by the licensees to HCRP can result in a material adjustment to revenue previously reported.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">The worldwide spread of the COVID-19 pandemic has resulted in a global slowdown of economic activity which has led to delays and could result in further delays or terminations of some clinical trials underlying the Company’s royalty purchase agreements. Estimates and assumptions about future events and their effects cannot be determined with certainty and therefore require the exercise of judgment. These estimates may change, as new events occur and additional information is obtained, and are recognized in the condensed consolidated financial statements as soon as they become known. Actual results could differ from those estimates and any such differences may be material to the Company’s financial statements.</p>
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.89
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.16
xoma Impairment Of Long Term Royalty Receivable
ImpairmentOfLongTermRoyaltyReceivable
0
CY2019 xoma Impairment Of Long Term Royalty Receivable
ImpairmentOfLongTermRoyaltyReceivable
0
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
941000
CY2020Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.10
us-gaap Reclassifications
Reclassifications
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;margin:0pt 0pt 12pt 0pt;"><span style="font-style:italic;">Prior Period Reclassifications</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">Within the condensed consolidated statement of cash flows, the Company separately presented the non-cash lease expense and changes in operating lease liabilities for the prior period to conform with current period presentation.</p>
us-gaap Dividends
Dividends
0
CY2019Q3 us-gaap Dividends
Dividends
0
us-gaap Dividends
Dividends
0
CY2020Q3 us-gaap Dividends
Dividends
0
CY2020Q1 us-gaap Allowance For Doubtful Accounts Receivable Period Increase Decrease
AllowanceForDoubtfulAccountsReceivablePeriodIncreaseDecrease
1400000
CY2020Q2 us-gaap Allowance For Doubtful Accounts Receivable Period Increase Decrease
AllowanceForDoubtfulAccountsReceivablePeriodIncreaseDecrease
0
CY2020Q3 us-gaap Allowance For Doubtful Accounts Receivable Period Increase Decrease
AllowanceForDoubtfulAccountsReceivablePeriodIncreaseDecrease
0
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
1409000
CY2020Q3 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
1409000
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:italic;font-weight:bold;margin:12pt 0pt 12pt 0pt;">Concentration of Risk</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">Cash and receivables are financial instruments which potentially subject the Company to concentrations of credit risk, as well as liquidity risk.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">The Company monitors the creditworthiness of its customers to which it grants credit terms in the normal course of business but does not generally require collateral on receivables. For the three months ended September 30, 2020, two partners represented 64% and 36% of total revenues. For the nine months ended September 30, 2020, three partners represented 58%, 28% and 11% of total revenues. For the three months ended September 30, 2019, two partners represented 68% and 28% of total revenues. For the nine months ended September 30, 2019, two partners represented 78% and 14% of total revenues. As of September 30, 2020 and as of December 31, 2019, one partner represented 100% of the trade receivables, net balance.</p>
CY2019Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.20
us-gaap Net Income Loss
NetIncomeLoss
2339000
CY2019Q3 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
1327000
CY2019Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
708000
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
657000
CY2020Q3 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
202000
CY2019Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
256000
CY2020Q3 us-gaap Accrued Salaries Current
AccruedSalariesCurrent
154000
CY2019Q4 us-gaap Accrued Salaries Current
AccruedSalariesCurrent
231000
CY2020Q3 us-gaap Interest Payable Current
InterestPayableCurrent
51000
CY2019Q4 us-gaap Interest Payable Current
InterestPayableCurrent
69000
CY2020Q3 us-gaap Accrued Bonuses Current
AccruedBonusesCurrent
26000
CY2019Q4 us-gaap Accrued Bonuses Current
AccruedBonusesCurrent
332000
CY2020Q3 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
33000
CY2019Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
57000
CY2020Q3 xoma Accrued And Other Liabilities Current
AccruedAndOtherLiabilitiesCurrent
466000
CY2019Q4 xoma Accrued And Other Liabilities Current
AccruedAndOtherLiabilitiesCurrent
945000
CY2020Q3 us-gaap Net Income Loss
NetIncomeLoss
-1077000
CY2019Q3 us-gaap Net Income Loss
NetIncomeLoss
3178000
us-gaap Net Income Loss
NetIncomeLoss
-9368000
us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
977000
CY2020Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-1077000
CY2019Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
1851000
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-9368000
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
1362000
CY2019Q3 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Diluted
UndistributedEarningsLossAllocatedToParticipatingSecuritiesDiluted
-60000
us-gaap Undistributed Earnings Loss Allocated To Participating Securities Diluted
UndistributedEarningsLossAllocatedToParticipatingSecuritiesDiluted
-41000
CY2020Q3 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-1077000
CY2019Q3 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
1911000
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-9368000
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
1403000
CY2020Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
11019000
CY2019Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
8731000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
10537000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
8721000
CY2019Q3 us-gaap Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
2000
us-gaap Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
1000
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.15
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
9379000
CY2020Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
11019000
CY2019Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
9441000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
10537000
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.89
CY2020Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.10
CY2019Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.21
CY2020Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
5953000
CY2019Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
908000
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
6115000
CY2019Q4 us-gaap Deferred Income Current
DeferredIncomeCurrent
1100000
CY2019Q4 us-gaap Deferred Income Noncurrent
DeferredIncomeNoncurrent
15300000
xoma Changes In Estimated Fair Value Of Contingent Consideration
ChangesInEstimatedFairValueOfContingentConsideration
0
xoma Payments Of Contingent Consideration
PaymentsOfContingentConsideration
0
CY2020Q3 xoma Payments Of Contingent Consideration
PaymentsOfContingentConsideration
0
xoma Long Term Royalty Receivable Noncurrent Increase Decrease
LongTermRoyaltyReceivableNoncurrentIncreaseDecrease
0
CY2020Q3 us-gaap Fair Value Assets Level1 To Level2 Transfers Amount
FairValueAssetsLevel1ToLevel2TransfersAmount
0
CY2020Q3 us-gaap Fair Value Assets Level1 To Level2 Transfers Amount
FairValueAssetsLevel1ToLevel2TransfersAmount
0
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Gain Loss Included In Earnings
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityGainLossIncludedInEarnings
0
CY2020Q3 xoma Contingent Consideration Under Royalty Purchase Agreements
ContingentConsiderationUnderRoyaltyPurchaseAgreements
100000
CY2020Q3 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
47000
CY2020Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
196000
CY2020Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
202000
CY2020Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
35000
CY2020Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
480000
CY2020Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
30000
CY2020Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
450000
CY2020Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
44000
CY2019Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
595000
us-gaap Operating Lease Cost
OperatingLeaseCost
133000
us-gaap Operating Lease Cost
OperatingLeaseCost
1805000
CY2020Q3 us-gaap Variable Lease Cost
VariableLeaseCost
2000
CY2019Q3 us-gaap Variable Lease Cost
VariableLeaseCost
375000
us-gaap Variable Lease Cost
VariableLeaseCost
5000
us-gaap Variable Lease Cost
VariableLeaseCost
1346000
CY2020Q3 us-gaap Lease Cost
LeaseCost
46000
CY2019Q3 us-gaap Lease Cost
LeaseCost
970000
us-gaap Lease Cost
LeaseCost
138000
us-gaap Lease Cost
LeaseCost
3151000
us-gaap Operating Lease Payments
OperatingLeasePayments
141000
us-gaap Operating Lease Payments
OperatingLeasePayments
1975000
CY2020Q3 us-gaap Long Term Debt Current
LongTermDebtCurrent
8962000
CY2020Q3 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
20990000
CY2019Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0551
CY2020Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P2Y5M1D
CY2019Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P3Y2M1D
CY2020Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0551
CY2020Q3 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
2270000
CY2020Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
8534000
CY2020Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
21200000
CY2020Q3 xoma Long Term Debt Future Principal Interest And Final Fee Payments
LongTermDebtFuturePrincipalInterestAndFinalFeePayments
32004000
CY2020Q3 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet
2052000
CY2020Q3 us-gaap Long Term Debt
LongTermDebt
29952000
CY2020Q3 us-gaap Interest Expense Debt
InterestExpenseDebt
434000
CY2019Q3 us-gaap Interest Expense Debt
InterestExpenseDebt
484000
us-gaap Interest Expense Debt
InterestExpenseDebt
1484000
us-gaap Interest Expense Debt
InterestExpenseDebt
1336000
CY2020Q3 us-gaap Class Of Warrant Or Right Number Of Securities Called By Warrants Or Rights
ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights
19426
CY2019Q4 us-gaap Class Of Warrant Or Right Number Of Securities Called By Warrants Or Rights
ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights
28489
CY2020Q3 xoma Contractual Obligation Estimated Milestone Payments
ContractualObligationEstimatedMilestonePayments
7600000
CY2020Q3 xoma Contractual Obligation Estimated Milestone Payments Number Of Products
ContractualObligationEstimatedMilestonePaymentsNumberOfProducts
1
CY2020Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
0
CY2020Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
708000
CY2019Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1494000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
3269000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
4233000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-1500000
CY2020Q3 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
5500000
CY2020Q3 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate
0

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