XOMA Announces Approval of First Preferred Stock Dividend
March 22 2021 - 7:30AM
XOMA Corporation (Nasdaq: XOMA) (“XOMA” or the “Company”) today
announced its Board of Directors approved a dividend of $0.71875
per share to holders of XOMA’s Series A Cumulative Perpetual
Preferred Stock (Nasdaq: XOMAP). The cash dividend will be
paid on or about April 15, 2021, to XOMAP holders of record at the
close of business on April 2, 2021.
About XOMA CorporationXOMA has built a
significant portfolio of products that are licensed to and being
developed by other biotech and pharmaceutical companies. The
Company’s portfolio of partner-funded programs spans multiple
stages of the drug development process and across various
therapeutic areas. Many of these licenses are the result of
XOMA’s pioneering efforts in the discovery and development of
antibody therapeutics. The Company’s royalty-aggregator
business model includes acquiring additional milestone and royalty
rights associated with drug development programs with third-party
funding.
Safe Harbor Statement / Explanatory NotesThis
release contains “forward-looking statements” within the meaning of
Section 27A of the Securities Act of 1933, as amended, and Section
21E of the Securities Exchange Act of 1934, as amended, and such
forward-looking statements are made pursuant to the safe harbor
provisions of the Private Securities Litigation Reform Act of
1995. “Forward-looking statements” describe future
expectations, plans, results, or strategies and are generally
preceded by words such as “anticipates”, “expect”, “may”, “plan”,
or “will”. Forward-looking statements include, without
limitation, projections, predictions, expectations, or beliefs
about future events or results and are not statements of historical
fact, including statements regarding the Company’s expectations
regarding payments of dividends in the future. You are
cautioned that such statements are subject to a multitude of risks
and uncertainties that could cause future circumstances, events, or
results to differ materially from those projected in the
forward-looking statements, including the availability of, and
participation in, financing opportunities. These and other
risks are identified in our filings with the Commission, including
without limitation our Annual Report on Form 10-K for the year
ended December 31, 2020, and in other filings subsequently made by
the Company with the Commission. All forward-looking
statements contained in this press release speak only as of the
date on which they were made and are based on management’s
assumptions and estimates as of such date. We do not
undertake any obligation to publicly update any forward-looking
statements, whether as a result of the receipt of new information,
the occurrence of future events or otherwise.
EXPLANATORY NOTE: Any references to “portfolio” in this press
release refer strictly to milestone and/or royalty rights
associated with a basket of drug products in development. Any
references to “assets” in this press release refer strictly to
milestone and/or royalty rights associated with individual drug
products in development. References to royalties or royalty
rates strictly refer to future potential payment streams regardless
of whether or not they are technically defined as royalties in the
underlying contractual agreement; further, any rates referenced
herein are subject to potential future contractual adjustments.
As of the date of this press release, all assets in XOMA’s
milestone and royalty portfolio are investigational
compounds. Efficacy and safety have not been
established. There is no guarantee that any of these assets
will become commercially available.
Investor contacts: |
|
Gitanjali JainSolebury
Trout+1-646-378-2949jojawa@soleburytrout.com |
Juliane SnowdenXOMA+1 646-438-9754juliane.snowden@xoma.com |
|
|
Media contact:Kathy VincentKV Consulting &
Management+1 310-403-8951kathy@kathyvincent.com |
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