XOMA(US:XOMA)2025-11-12 12:46Financial Performance - In Q3 2025, XOMA Royalty reported income of $9.4 million, up from $7.2 million in Q3 2024, and year-to-date income of $38.4 million compared to $19.8 million in the same period last year[10]. - The company recorded net income of $14.1 million for Q3 2025, a significant improvement from a net loss of $17.2 million in Q3 2024[17]. - Total income and revenues for the three months ended September 30, 2025, were $9,351,000, an increase of 30% compared to $7,197,000 for the same period in 2024[25]. - Net income for the three months ended September 30, 2025, was $14,100,000, compared to a net loss of $17,243,000 for the same period in 2024[25]. - Basic net income per share available to common stockholders for the three months ended September 30, 2025, was $0.74, compared to a loss of $1.59 per share for the same period in 2024[25]. - Net income for the nine months ended September 30, 2025, was $25,609, compared to a net loss of $9,853 in the same period of 2024[29]. Cash and Assets - XOMA Royalty received $43.9 million in cash from partners in the first nine months of 2025, including $30.3 million in royalties and $13.6 million in milestone payments[10]. - XOMA Royalty's cash and cash equivalents stood at $130.6 million as of September 30, 2025, including $85.4 million in restricted cash[18]. - Cash and cash equivalents decreased to $45,189,000 as of September 30, 2025, from $101,654,000 as of December 31, 2024[27]. - Total assets increased to $263,151,000 as of September 30, 2025, compared to $221,277,000 as of December 31, 2024[27]. - Cash, cash equivalents, and restricted cash at the end of the period totaled $130,553, down from $146,816 at the end of the previous year[29]. Expenses - R&D expenses for the first nine months of 2025 were $1.4 million, a decrease from $2.0 million in the same period of 2024[11]. - General and Administrative expenses for the first nine months of 2025 were $25.7 million, down from $27.5 million in the same period of 2024[12]. - Research and development expenses for the three months ended September 30, 2025, were $69,000, a significant decrease from $817,000 for the same period in 2024[25]. - General and administrative expenses for the three months ended September 30, 2025, were $9,734,000, compared to $8,020,000 for the same period in 2024[25]. Acquisitions and Investments - The company completed acquisitions of Turnstone Biologics for $0.34 per share and HilleVax for $1.95 per share, and announced the acquisition of LAVA Therapeutics[2][6]. - XOMA Royalty expects to secure economic interests in two partnered assets through the acquisition of LAVA Therapeutics, including PF-08046052 and JNJ-89853413[6]. - The company reported gains on acquisitions of $18,004,000 for the three months ended September 30, 2025[25]. - The company acquired net cash of $46,832 in the HilleVax acquisition and $3,943 in the Turnstone acquisition[29]. Dividends and Cash Flow - XOMA Royalty paid $1.4 million in dividends on its Perpetual Preferred stocks during Q3 2025[19]. - Net cash provided by operating activities was $8,372, a significant improvement from a cash used of $10,845 in the prior year[29]. - The company reported a net cash increase of $24,137 in cash, cash equivalents, and restricted cash during the period, compared to a decrease of $12,734 in the previous year[29]. - Cash paid for interest increased to $11,906 from $9,985 year-over-year[29]. - Payments of consideration under RPAs, AAAs, and CPPAs totaled $8,000, down from $37,000 in the previous year[29]. - The company recognized a gain on the sale of equity securities amounting to $6,999[29]. - Principal payments on debt were $10,598, compared to $6,902 in the prior year[29]. - The company reported an adjustment for income from EIR method purchased receivables of $627, compared to a negative adjustment of $9,985 in the previous year[29]. Future Outlook - The company anticipates several clinical readouts in the coming months that could significantly impact its business trajectory[5].