05.19.17
XOMA Corp. has earned a $10 million milestone payment for the clinical advancement of an asset licensed to one of its pharmaceutical partners. Specific details were not disclosed.
“Our corporate strategy is to drive shareholder value by combining revenue from our portfolio of collaborator-funded programs with a lean cost structure,” stated Jim Neal, Chief Executive Officer of XOMA. “This $10 million milestone payment is the first of a potential $40 million we could receive from our portfolio of partnerships over the next 36 months. As these milestones are received, our belief is shareholders will begin to see XOMA transition to a cash flow positive company.”
Similar to this program, XOMA has more 20 additional clinical and preclinical programs that are funded by pharma/biopharma partners. Each of those programs, as well as several internal programs available to be partnered, are capable of adding to the anticipated growth in milestone payments and royalty revenue streams over time.
“Our corporate strategy is to drive shareholder value by combining revenue from our portfolio of collaborator-funded programs with a lean cost structure,” stated Jim Neal, Chief Executive Officer of XOMA. “This $10 million milestone payment is the first of a potential $40 million we could receive from our portfolio of partnerships over the next 36 months. As these milestones are received, our belief is shareholders will begin to see XOMA transition to a cash flow positive company.”
Similar to this program, XOMA has more 20 additional clinical and preclinical programs that are funded by pharma/biopharma partners. Each of those programs, as well as several internal programs available to be partnered, are capable of adding to the anticipated growth in milestone payments and royalty revenue streams over time.