Financial Performance - XOMA Royalty reported total income and revenues of $15.9 million for Q1 2025, a significant increase from $1.5 million in Q1 2024[8] - The company achieved a net income of $2.4 million in Q1 2025, compared to a net loss of $8.6 million in Q1 2024[14] - Total income and revenues for Q1 2025 reached $15,912,000, a significant increase from $1,490,000 in Q1 2024, representing a growth of approximately 964%[22] - Net income for Q1 2025 was $2,367,000, compared to a net loss of $8,595,000 in Q1 2024, marking a turnaround in profitability[22] - Basic net income per share for Q1 2025 was $0.06, compared to a loss of $0.86 per share in Q1 2024[22] Cash Flow and Liquidity - Cash receipts for Q1 2025 totaled $18.0 million, including $13.4 million from royalties and commercial payments, and $4.6 million from milestones and fees[15] - The company had cash and cash equivalents of $95.0 million as of March 31, 2025, down from $106.4 million at the end of 2024[15] - Cash and cash equivalents decreased to $90,265,000 as of March 31, 2025, down from $101,654,000 at the end of 2024[24] - Net cash provided by operating activities for Q1 2025 was $2,198,000, a recovery from a cash outflow of $4,947,000 in Q1 2024[26] - The company reported a net decrease in cash, cash equivalents, and restricted cash of $11,389,000 for Q1 2025, compared to a decrease of $17,149,000 in Q1 2024[26] Expenses - Research and Development expenses rose to $1.3 million in Q1 2025, up from $33,000 in Q1 2024, primarily due to licensing fees related to Takeda's Phase 3 milestone[9] - General and Administrative expenses decreased to $8.1 million in Q1 2025 from $8.5 million in Q1 2024, mainly due to lower stock compensation costs[10] - Research and development expenses increased to $1,293,000 in Q1 2025 from $33,000 in Q1 2024, indicating a focus on innovation and product development[22] - Payments of consideration under RPAs, AAAs, and CPPAs amounted to $8,000,000 in Q1 2025, compared to $15,000,000 in Q1 2024, indicating a reduction in cash outflows for these agreements[26] Strategic Activities - XOMA Royalty acquired a royalty interest in Castle Creek Biosciences' D-Fi (FCX-007), contributing $5 million to a $75 million financing transaction[4] - The company received a $4.0 million milestone payment related to Day One Biopharmaceuticals' Marketing Authorization Application filing with the EMA[8] - XOMA Royalty initiated share repurchase activity, deploying $0.5 million to repurchase 25,828 shares of common stock[15] - XOMA Royalty anticipates continued growth in cash flow generation from accelerating royalty receipts and a robust pipeline of partnered programs[3] Balance Sheet - Total assets decreased to $212,750,000 as of March 31, 2025, compared to $221,277,000 at the end of 2024[24] - Total liabilities decreased to $128,121,000 as of March 31, 2025, down from $139,356,000 at the end of 2024, reflecting improved financial health[24]
XOMA(XOMAO) - 2025 Q1 - Quarterly Results