Financial 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 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'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]. - Total liabilities increased to $155,194,000 as of September 30, 2025, from $139,356,000 as of December 31, 2024 [27]. - The total stockholders' equity increased to $87,938,000 as of September 30, 2025, from $61,902,000 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 - Research and development 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 and HilleVax, and announced acquisitions of LAVA Therapeutics and Mural Oncology [2]. - 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]. Cash Flow and Other Financial Metrics - Net cash provided by operating activities was $8,372, a significant improvement from a cash outflow 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 - XOMA Royalty anticipates several clinical readouts in the coming months that could significantly impact its business trajectory [5].
XOMA(XOMAO) - 2025 Q3 - Quarterly Results