<SEC-DOCUMENT>0001171843-18-005827.txt : 20180807
<SEC-HEADER>0001171843-18-005827.hdr.sgml : 20180807
<ACCEPTANCE-DATETIME>20180807163518
ACCESSION NUMBER:		0001171843-18-005827
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20180807
ITEM INFORMATION:		Results of Operations and Financial Condition
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20180807
DATE AS OF CHANGE:		20180807

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			XOMA Corp
		CENTRAL INDEX KEY:			0000791908
		STANDARD INDUSTRIAL CLASSIFICATION:	PHARMACEUTICAL PREPARATIONS [2834]
		IRS NUMBER:				522154066
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-14710
		FILM NUMBER:		18998605

	BUSINESS ADDRESS:	
		STREET 1:		2200 POWELL STREET
		STREET 2:		SUITE 310
		CITY:			EMERYVILLE
		STATE:			CA
		ZIP:			94608
		BUSINESS PHONE:		510-204-7239

	MAIL ADDRESS:	
		STREET 1:		2200 POWELL STREET
		STREET 2:		SUITE 310
		CITY:			EMERYVILLE
		STATE:			CA
		ZIP:			94608

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	XOMA LTD /DE/
		DATE OF NAME CHANGE:	19990107

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	XOMA CORP /DE/
		DATE OF NAME CHANGE:	19920703
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>f8k_080718.htm
<DESCRIPTION>FORM 8-K
<TEXT>
<html><head><title></title></head><body><div style="margin-top: 3pt; margin-bottom: 12pt;"><div style="font-size: 1pt; border-top: Black 2.5pt solid; border-bottom: Black 1.1pt solid; width: 100%;"><font style="font-size: 10pt;">&#160;</font></div></div><p style="text-align: center;"><font style="font-size: 14pt;"><strong>UNITED STATES</strong><br /><strong>SECURITIES AND EXCHANGE COMMISSION</strong><br /><strong>Washington, D.C. 20549</strong><br />_____________________</font></p><p style="text-transform: uppercase; text-align: center;"><font style="font-size: 14pt;"><strong>Form 8-K</strong><br />_____________________</font></p><p style="text-align: center;"><font style="font-size: 12pt;"><strong>CURRENT REPORT</strong></font></p><p style="text-align: center;"><font style="font-size: 12pt;"><strong>Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934</strong></font></p><p align="center"><font style="font-size: 10pt;">Date of Report (Date of earliest event Reported): <!--August 7, 2018-->August 7, 2018 &#160;</font></p><p align="center"><font style="font-size: 12pt;"><strong>XOMA CORPORATION</strong></font><br /><font style="font-size: 10pt;">(Exact Name of Registrant as Specified in Charter)</font></p><table style="width: 100%;" border="0" cellspacing="0" cellpadding="0"><tr valign="top"><td align="center" width="33%"><font style="font-size: 10pt;"><strong>DELAWARE</strong></font></td><td align="center" width="34%"><font style="font-size: 10pt;"><strong>000-14710</strong></font></td><td align="center" width="33%"><font style="font-size: 10pt;"><strong>52-2154066</strong></font></td></tr><tr valign="top"><td align="center" width="33%"><font style="font-size: 10pt;">(State or Other Jurisdiction of Incorporation)</font></td><td align="center" width="34%"><font style="font-size: 10pt;">(Commission File Number)</font></td><td align="center" width="33%"><font style="font-size: 10pt;">(I.R.S. 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 <p><font style="font-size:10pt; font-family:&quot;times new roman&quot;;">On August 7, 2018, XOMA Corporation issued a press release announcing its financial results for the quarter ended June 30, 2018. The full text of the press release issued in connection with the announcement is attached as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference.</font></p>    <p><font style="font-size:10pt; font-family:&quot;times new roman&quot;;">The information in this Form 8-K and the Exhibit attached hereto shall not be deemed &#8220;filed&#8221; for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the &#8220;Exchange Act&#8221;), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in such a filing.</font></p> </font></p><p><font style="font-size: 10pt;"><strong>  </strong></font></p><p><font style="font-size: 10pt;"><strong>Item 9.01. Financial Statements and Exhibits.</strong></font></p><p><font style="font-size: 10pt;">
 <p><font style="font-size:10pt; font-family:&quot;times new roman&quot;;">(d)&#160;Exhibits</font></p> <table style="border-collapse:collapse !important;" style="border-collapse: collapse; "><tr><td style="vertical-align: bottom ; "><font style="font-size:10pt; font-family:&quot;times new roman&quot;;"><strong><u>Number</u></strong></font></td><td style="vertical-align: bottom ; "><font style="font-size:10pt; font-family:&quot;times new roman&quot;;">&#160;</font></td><td style="vertical-align: bottom ; "><font style="font-size:10pt; font-family:&quot;times new roman&quot;;"><strong><u>Description of Document</u></strong></font></td></tr><tr><td style="vertical-align: bottom ; "><font style="font-size:10pt; font-family:&quot;times new roman&quot;;">&#160;</font></td><td style="vertical-align: bottom ; "><font style="font-size:10pt; font-family:&quot;times new roman&quot;;">&#160;</font></td><td style="vertical-align: bottom ; "><font style="font-size:10pt; font-family:&quot;times new roman&quot;;">&#160;</font></td></tr><tr><td style="vertical-align: bottom ; "><font style="font-size:10pt; font-family:&quot;times new roman&quot;;"><font style="font-size:10pt; font-family:&quot;times new roman&quot;;"><a href="exh_991.htm" rel="nofollow">99.1</a></font></font></td><td style="vertical-align: bottom ; "><font style="font-size:10pt; font-family:&quot;times new roman&quot;;">&#160;</font></td><td style="vertical-align: bottom ; "><font style="font-size:10pt; font-family:&quot;times new roman&quot;;"><font style="font-size:10pt; font-family:&quot;times new roman&quot;;"><a href="exh_991.htm" rel="nofollow">Press release entitled &#8220;XOMA Reports Second Quarter 2018 Financial Results&#8221; dated August 7, 2018</a></font></font></td></tr></table> <p><br /></p> </font></p><p><font style="font-size: 10pt;"></font></p><p><font style="font-size: 10pt;"></font></p><hr style="page-break-after: always;" noshade="noshade" /><p align="center"><font style="font-size: 10pt;"><strong>SIGNATURE</strong></font></p><p><font style="font-size: 10pt;">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</font></p><table style="width: 100%;" border="0" cellspacing="0" cellpadding="0"><tr valign="top"><td valign="top" width="49%"><font style="font-size: 10pt;">&#160;</font></td><td style="font-size: 12pt;" colspan="2" valign="top"><font style="font-size: 10pt;"><strong>XOMA CORPORATION</strong></font></td></tr><tr valign="top"><td width="49%"><font style="font-size: 10pt;">&#160;</font></td><td width="2%"><font style="font-size: 10pt;">&#160;</font></td><td width="49%"><font style="font-size: 10pt;">&#160;</font></td></tr><tr valign="top"><td width="49%"><font style="font-size: 10pt;">&#160;</font></td><td width="2%"><font style="font-size: 10pt;">&#160;</font></td><td width="49%"><font style="font-size: 10pt;"></font></td></tr><tr valign="top"><td width="49%"><font style="font-size: 10pt;">Date: August 7, 2018</font></td><td width="2%"><font style="font-size: 10pt;">By:&#160;</font></td><td style="text-decoration: underline;" width="49%"><font style="font-size: 10pt;">/s/ THOMAS BURNS&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></td></tr><tr valign="top"><td width="49%"><font style="font-size: 10pt;">&#160;</font></td><td width="2%"><font style="font-size: 10pt;">&#160;</font></td><td width="49%"><font style="font-size: 10pt;">Thomas Burns</font></td></tr><tr valign="top"><td width="49%"><font style="font-size: 10pt;">&#160;</font></td><td width="2%"><font style="font-size: 10pt;">&#160;</font></td><td width="49%"><font style="font-size: 10pt;">Senior Vice President, Finance and Chief Financial Officer</font></td></tr><tr valign="top"><td width="49%"><font style="font-size: 10pt;">&#160;</font></td><td width="2%"><font style="font-size: 10pt;">&#160;</font></td><td width="49%"><font style="font-size: 10pt;"></font></td></tr></table><p /></body></html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>exh_991.htm
<DESCRIPTION>PRESS RELEASE
<TEXT>
<!DOCTYPE HTML PUBLIC "-//W3C//DTD HTML 4.0 Transitional//EN"><html lang="en-US"><head><title>EdgarFiling</title><meta content="text/html; charset=windows-1252" ><meta name="GENERATOR" content="MSHTML 8.00.7601.18094" ></head><body bgcolor="#ffffff"><p style="text-align: right;"><strong>EXHIBIT 99.1</strong></p><p style="text-align: center;"><strong>XOMA Reports Second Quarter 2018 Financial Results</strong></p><p style="text-align: center;" ></p><p>
 <p align="left">EMERYVILLE, Calif., Aug.  07, 2018  (GLOBE NEWSWIRE) -- XOMA Corporation (Nasdaq: XOMA), a pioneer in the discovery, development and licensing of therapeutic antibodies, today announced its second quarter 2018 financial results.&#160;<br ></p>  <p>&#8220;We continue to focus our efforts on expanding our portfolio of partner-funded programs through both acquisition and out-license activities,&#8221; said Jim Neal, Chief Executive Officer at XOMA. &#160;&#8220;We believe we are well-positioned to execute on our royalty-aggregator strategy to create near- and long-term value for shareholders.&#8221;</p>  <p><strong>Financial Results</strong><br >XOMA recorded total revenues of $2.3 million for the second quarter of 2018, $1.8 million of which was recognized under XOMA&#8217;s license agreement and common stock purchase agreement with Rezolute.&#160; In the second quarter of 2017, XOMA reported $10.9 million in revenue, $10.0 million of which was milestone revenue earned under one of the Company&#8217;s license agreements with Novartis.</p>  <p>Research and development (R&amp;D) expenses were $0.4 million for the second quarter of 2018, compared to $2.9 million for the second quarter of 2017. &#160;The decrease in R&amp;D expenses was due primarily to reductions of $1.0 million in clinical trial costs, $0.4 million in consulting costs, $0.4 million in the allocation of facilities costs, $0.4 million in external manufacturing activities, and $0.1 million in stock-based compensation. &#160;The significant reduction in R&amp;D spending is a result of the discontinuation of clinical trial activities and the execution of the Company&#8217;s royalty-aggregator business model.</p>  <p>General and administrative (G&amp;A) expenses were $4.4 million for the second quarter of 2018, compared to $5.2 million for the second quarter of 2017. &#160;The decrease in G&amp;A expenses was due primarily to reductions of $0.9 million in stock-based compensation, $0.2 million in legal and accounting fees, and $0.1 million in information technology costs, partially offset by increases of $0.2 million in consulting services and $0.4 million in the allocation of facilities costs due to a greater proportion of G&amp;A personnel after the Company&#8217;s restructuring activities.</p>  <p>The Company recorded a lease-related restructuring charge of $0.5 million in the second quarter of 2018, compared with $1.5 million for personnel-related restructuring expenses in the same period of 2017.</p>  <p>Total other income, net was $1.2 million for the second quarter of 2018, compared to other expense of $0.7 million for the second quarter of 2017.&#160; During the second quarter of 2018, we recorded $1.0 million in income from Ology Bioservices related to the disposition of our biodefense business in March 2016.&#160; Separately, we received long-term equity securities that consisted of an investment in Rezolute Inc.&#8217;s common stock under the terms of a licensing agreement. &#160;As of June 30, 2018, the fair value of the long-term equity securities had decreased, and we recognized a loss of $0.4 million.</p>  <p>Net loss for the second quarter of 2018 was $1.9 million, compared to net income of $0.3 million for the second quarter of 2017. &#160;</p>  <p>On June 30, 2018, XOMA had cash and cash equivalents of $38.7 million. &#160;The Company ended December 31, 2017, with cash and cash equivalents of $43.5 million. &#160;The Company&#8217;s current cash and cash equivalents are expected to be sufficient to fund its operations for multiple years. &#160;</p>  <p><strong>About XOMA Corporation</strong><br >XOMA has built a significant portfolio of products that are licensed to and being developed by other biotech and pharmaceutical companies. &#160;The Company&#8217;s portfolio of partner-funded programs spans multiple stages of the drug development process and across various therapeutic areas. &#160;Many of these licenses are the result of XOMA&#8217;s pioneering efforts in the discovery and development of antibody therapeutics. &#160;The Company&#8217;s royalty-aggregator business model includes acquiring additional licenses to partner-funded programs. &#160;XOMA&#8217;s license portfolio has the potential to generate significant milestone payments and royalty revenue in the future. For more information, visit www.xoma.com.</p>  <p><strong>Forward-Looking Statements</strong><br >Certain statements contained in this press release are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, including statements regarding the potential of XOMA&#8217;s portfolio of partnered programs and licensed technologies generating substantial milestone and royalty proceeds over time. These statements are based on assumptions that may not prove accurate, and actual results could differ materially from those anticipated due to certain risks inherent in the biotechnology industry, including those related to the fact that our product candidates subject to out-license agreements are still being developed, and our licensees&#8217; may require substantial funds to continue development which may not be available; we do not know whether there will be, or will continue to be, a viable market for the products in which we have an ownership or royalty interest; we may not be successful in entering into out-license agreements for our product candidates; if our therapeutic product candidates do not receive regulatory approval, our third-party licensees will not be able to manufacture and market them. Other potential risks to XOMA meeting these expectations are described in more detail in XOMA's most recent filing on Form 10-K and in other SEC filings. Consider such risks carefully when considering XOMA's prospects. Any forward-looking statement in this press release represents XOMA's views only as of the date of this press release and should not be relied upon as representing its views as of any subsequent date. 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text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">(5,753</td><td style="vertical-align: bottom ; ">)</td><td style="vertical-align: bottom ; ">&#160;</td><td style="border-bottom: double black 3pt ; vertical-align: bottom ; ">$</td><td style="border-bottom: double black 3pt ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">(10,429</td><td style="vertical-align: bottom ; ">)</td></tr><tr><td style="vertical-align: bottom ; ">Net (loss) income and comprehensive (loss) income available to<br >&#160; common stockholders, basic and diluted</td><td style="border-bottom: double black 3pt ; vertical-align: bottom ; ">$</td><td style="border-bottom: double black 3pt ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">(1,947</td><td style="vertical-align: bottom ; ">)</td><td style="vertical-align: bottom ; ">&#160;</td><td style="border-bottom: double black 3pt ; vertical-align: bottom ; ">$</td><td style="border-bottom: double black 3pt ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">172</td><td style="vertical-align: bottom ; ">&#160;</td><td style="vertical-align: bottom ; ">&#160;</td><td style="border-bottom: double black 3pt ; vertical-align: bottom ; ">$</td><td style="border-bottom: double black 3pt ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">(5,753</td><td style="vertical-align: bottom ; ">)</td><td style="vertical-align: bottom ; ">&#160;</td><td style="border-bottom: double black 3pt ; vertical-align: bottom ; ">$</td><td style="border-bottom: double black 3pt ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">(16,032</td><td style="vertical-align: bottom ; ">)</td></tr><tr><td style="vertical-align: bottom ; ">Basic net (loss) income per share available to common stockholders</td><td style="border-bottom: double black 3pt ; vertical-align: bottom ; ">$</td><td style="border-bottom: double black 3pt ; text-align: right ;  vertical-align: bottom; 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vertical-align: bottom ; ">&#160;</td><td style="border-bottom: double black 3pt ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">7,643</td><td style="vertical-align: bottom ; ">&#160;</td><td style="vertical-align: bottom ; ">&#160;</td><td style="border-bottom: double black 3pt ; vertical-align: bottom ; ">&#160;</td><td style="border-bottom: double black 3pt ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">8,338</td><td style="vertical-align: bottom ; ">&#160;</td><td style="vertical-align: bottom ; ">&#160;</td><td style="border-bottom: double black 3pt ; vertical-align: bottom ; ">&#160;</td><td style="border-bottom: double black 3pt ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">7,240</td><td style="vertical-align: bottom ; ">&#160;</td></tr><tr><td style="vertical-align: bottom ; ">&#160;</td><td style="vertical-align: bottom ; ">&#160;</td><td style="vertical-align: bottom ; ">&#160;</td><td style="vertical-align: bottom ; ">&#160;</td><td style="vertical-align: bottom ; ">&#160;</td><td style="vertical-align: bottom ; ">&#160;</td><td style="vertical-align: bottom ; ">&#160;</td><td style="vertical-align: bottom ; ">&#160;</td><td style="vertical-align: bottom ; ">&#160;</td><td style="vertical-align: bottom ; ">&#160;</td><td style="text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">&#160;</td><td style="vertical-align: bottom ; ">&#160;</td><td style="vertical-align: bottom ; ">&#160;</td><td style="vertical-align: bottom ; ">&#160;</td><td style="text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">&#160;</td><td style="vertical-align: bottom ; ">&#160;</td></tr></table> <p align="left"><strong>Investor contact:</strong><br >Juliane Snowden<br >Oratorium Group, LLC<br >+1 646-438-9754<br >jsnowden@oratoriumgroup.com</p>  <p align="justify"><strong>Media contact:</strong><br >Kathy Vincent<br >KV Consulting &amp; Management<br >+1 310-403-8951<br >kathy@kathyvincent.com</p> </p><p ></p></body></html>
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</SEC-DOCUMENT>
