XOMA swings to $31.7M profit on $50.5M royalty receipts, closes four acquisitions

Filed March 18, 2026 · Period ending December 31, 2025 · Compared to 10-K Mar 17, 2025 · ~2 min read

Key Changes

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  Net income of $31.7M in 2025 vs. $13.8M loss in 2024, driven by $22.2M increase in royalty income, $21.1M in bargain purchase gains from acquisitions, and absence of prior-year $30.9M credit losses.

  MD&A: Financial Performance verify on EDGAR →
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  VABYSMO royalties grew 33% to $22.5M; OJEMDA royalties nearly tripled to $7.7M plus $6.0M in milestones. Total cash receipts reached $50.5M, up from $46.4M in 2024.

  Business: Commercial Assets verify on EDGAR →
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  Closed four acquisitions (HilleVax, LAVA, Turnstone, Mural) for $191.5M total consideration, adding partnered programs with J&J and Pfizer but no plans to develop acquired clinical assets.

  MD&A: Acquisitions verify on EDGAR →