Exhibit
99.1
XOMA
Reports Second Quarter 2007 Financial Results
BERKELEY,
Calif., August 8, 2007 -- XOMA Ltd. (NASDAQ:XOMA), a leader in the discovery
and
development of antibody therapeutics, today reported financial results for
the
second quarter and six months ended June 30, 2007.
“XOMA
continues to advance the development of a diversified product pipeline by
leveraging core strengths in therapeutic antibody discovery and development,”
said Steven B. Engle, president and chief executive officer of XOMA. "The start
of the Phase I clinical testing of XOMA 052 in Type 2 Diabetes was a major
milestone in building our proprietary product pipeline. We plan to bring a
third
wholly-owned product candidate, XOMA 629, into the clinic shortly, and would
thus anticipate having as many as four product candidates overall in active
clinical trials by the end of 2007. XOMA also continues to make progress in
other key areas that generate significant revenue for the Company, including
product development collaborations, technology licensing agreements and
manufacturing contracts. These accomplishments were key elements influencing
my
decision to join XOMA and reinforce my conviction that the company is
well-positioned for success.”
Second
Quarter 2007 Results
XOMA
recorded total revenues of $14.1 million in the second quarter of 2007, an
increase of $6.6 million over the second quarter of 2006. Growth in revenues
primarily reflects
increases in royalty
revenues from Genentech’s LUCENTIS(r), which began
in June of 2006, and Genentech's RAPTIVA(r), and increased activities in our
contracts with AVEO Pharmaceuticals, Inc., Schering-Plough Research Institute,
Takeda Pharmaceutical Company Limited and the National Institute of Allergy
and
Infectious Diseases.
The
operating loss for the second quarter was $7.5 million in 2007 compared to
$9.0
million in 2006, reflecting higher revenue in 2007 partially offset by an
increase in research and development costs. The net loss for the second quarter
of 2007 was $8.3 million or ($0.06) per share, compared with a net loss of
$5.9
million or ($0.06) per share for the quarter ended June 30, 2006. Net non-cash
credits related to convertible debt derivative accounting and debt conversions
were $4.1 million in the second quarter of 2006. A more detailed discussion
of
XOMA's second quarter 2007 financial results is provided below and in the
Company's Form 10-Q filing.
Recent
Highlights
--
Steven
B. Engle joined XOMA as president, chief executive officer and a member of
the
board of directors. Mr. Engle is an experienced biotechnology
executive and former chief executive officer and chairman of the board of La
Jolla Pharmaceutical Company. He succeeds Jack Castello, who
announced his retirement plans earlier this year.
--
Charles J. Fisher, M.D. was elected to XOMA’s board of directors. Dr.
Fisher has more than 20 years of leadership experience in clinical research
and
drug development and is chief medical officer and executive vice president
of
clinical and regulatory affairs at Cardiome Pharma Corp.
--
XOMA
initiated US Phase I clinical testing of XOMA 052 in Type 2 diabetes
patients. A second Phase I trial of XOMA 052 in Type 2 diabetes is
expected to begin shortly in Europe. The combined safety and
pharmacokinetics data from the two studies will also be used to evaluate the
potential of XOMA 052 in additional indications, including rheumatoid arthritis,
systemic juvenile idiopathic arthritis and osteoarthritis.
Financial
Discussion
Revenues
Total
revenues for the quarter were $14.1 million, compared with $7.5 million in
the
second quarter of 2006. Revenues for the first half of 2007 increased 101
percent to $26.4 million from $13.1 million in the first half of
2006.
License
and collaborative fee revenues
were $0.1 million for the quarter ended June 30, 2007, compared with $0.7
million for the same period of 2006. These revenues include upfront
payments related to the outlicensing of our products and technologies and other
collaborative arrangements. Contract revenues totaled $9.7 million for the
three
months ended June 30, 2007, compared with $4.7 million for the same period
of
2006, reflecting an increase resulting primarily from the company’s arrangements
with increased activities in our contracts with AVEO Pharmaceuticals,
Inc., Schering-Plough Research Institute and Takeda Pharmaceutical Company
Limited. Royalties were $4.3
million for the second quarter of 2007 compared with $2.1 million in the second
quarter of 2006, reflecting increases in royalty revenues from
Genentech’s LUCENTIS(r), which began in June of 2006, and Genentech's
RAPTIVA(r).
Expenses
XOMA's
research and development expense for the second quarter of 2007 totaled $17.3
million, compared with $12.1 million in the same period of 2006. The $5.2
million increase primarily reflects increases in spending on the company's
July
2006 contract with NIAID, its contract with AVEO, internal development of XOMA
052, XOMA 629 and collaboration with Schering-Plough.
General
and administrative expense for the three months ended June 30, 2007 was $4.4
million compared with $4.4 million for the same period last year.
Interest
expense for the three months ended June 30, 2007 was $1.2 million compared
with
net interest income of $2.7 million for the same period of 2006. Interest
expense in the 2007 quarter consisted primarily of $0.3 from Novartis and $0.8
million of interest payable on our loan from Goldman Sachs Specialty Lending
Holding Inc. ("Goldman Sachs"). XOMA's second quarter 2006 interest expense
consisted primarily of interest payable of $1.1 million, offset by an interest
expense benefit of $4.1 million primarily resulting from a decrease in fair
value of the embedded derivative of XOMA’s convertible debt. The
conversion of this debt to common equity was completed in the first quarter
of
2007.
Liquidity
and Capital Resources
Cash,
cash equivalents and short- and long-term investments at June 30, 2007 totaled
$24.0 million compared with $46.4 million at December 31, 2006. The $22.4
million decrease primarily reflects cash used in operations of $15.2 million
for
the first six months of 2007, and includes a one-time payment of $5.2 million
in
additional interest on the convertible notes and $1.4 million related to the
semi-annual interest payment on the convertible notes. Following the conversion
to common equity of all remaining convertible notes during the first quarter
of
2007, there will be no further interest expense or payments related to the
convertible notes. Additionally cash was used for fixed asset purchases of
$3.8
million and for principal payments on the Goldman Sachs term loan of $4.7
million. Cash used in operations during the second quarter of 2007 was $6.1
million compared with $4.8 million during the second quarter of
2006.
Based
on
current spending levels, anticipated revenues, collaborator funding, proceeds
from our November 2006 term loan and other sources of funding we believe to
be
available, we estimate that we have sufficient cash resources to meet our
anticipated net cash needs through at least 2008. Any significant revenue
shortfalls, increases in planned spending on development pro-
grams
or
more rapid progress of development programs than anticipated, as well as the
unavailability of anticipated sources of funding, could shorten this period.
Progress or setbacks by potentially competing products may also affect our
ability to raise new funding on acceptable terms.
Long-term
Debt
At
June
30, 2007, XOMA had an outstanding principal amount of $30.3 million on the
5-year term loan from Goldman Sachs established in November of 2006, and $18.9
million of long-term debt to Novartis. The long-term debt to Novartis represents
XOMA's borrowings under a $50.0 million loan facility established to facilitate
XOMA's participation in its collaboration with Novartis.
Product
Highlights
RAPTIVA(r)
(Efalizumab): Royalties from Genentech and Merck Serono
According
to Genentech and Merck Serono SA, worldwide sales of RAPTIVA(r) in the second
quarter of 2007 were $54 million, with $27 million coming from Genentech’s sales
in the U.S. and $27 million from Merck Serono SA’s sales
internationally. Second quarter sales grew 38 percent compared to
$39.2 million in the second quarter 2006 and 14 percent
compared to $47.5 million in the first quarter of 2007.
LUCENTIS(r)
(Ranibizumab injection): Royalty from Genentech
LUCENTIS(r)
is an antibody fragment against Vascular Endothelial Growth Factor (VEGF) for
the treatment of neovascular (wet) age-related macular degeneration, which
causes vision loss in the elderly. LUCENTIS(r) was approved by the FDA on June
30, 2006 and in the European Union, where it is distributed by Novartis, in
January of 2007. It is the first marketed therapeutic product manufactured
under
a license using XOMA's BCE technology.
According
to Genentech and Novartis, worldwide sales of LUCENTIS(r) in the second quarter
of 2007 were $285 million, with $213 million coming from Genentech’s sales in
the U.S and $72 million from Novartis’ sales internationally.
XOMA
052 (formerly XMA005.2) XOMA-owned Product Candidate
XOMA
052
is a potent anti-inflammatory monoclonal antibody targeting IL-1-beta that
is
being developed as a modulator of cytokine imbalance in IL-1 mediated disease
states. It is an IgG2 isotype, which reduces the possibility of antibody
dependent cellular cytotoxicity. With its high binding affinity of 300 fM and
expected long circulating half-life, XOMA 052 may offer many patient advantages
including less frequent dosing. XOMA 052 was developed by XOMA from its
extensive antibody discovery assets, was humanized using XOMA's Human
Engineering(tm) technology, and is fully owned by XOMA. XOMA initiated a US
Phase I clinical trial of XOMA 052 in Type 2 diabetes patients in July of 2007
and expects to start a similar Phase I clinical trial in Europe. XOMA is
evaluating plans to expand the development of XOMA 052 into additional
autoimmune/inflammatory indications including osteoarthritis, rheumatoid
arthritis, systemic juvenile idiopathic arthritis, and others.
NEUPREX(r)
(opebacan / rBPI21) XOMA-owned Product Candidate
NEUPREX(r)
is an injectable formulation of opebacan, a modified recombinant fragment of
human bactericidal/permeability-increasing protein ("BPI") that has
anti-infective properties and is a potent neutralizer of endotoxin. More than
1,100 patients have been treated with NEUPREX(r) in clinical studies without
any
apparent safety concerns.
In
January of 2007, in conjunction with Harvard Medical School, XOMA initiated
a
Phase I/II clinical trial of NEUPREX(r) in adults and children undergoing
allogeneic hematopoietic stem cell transplantation ("HSCT") to evaluate safety,
pharmacokinetics and markers of biological activity. Earlier research indicates
that endotoxemia can induce or worsen acute graft-vs-host disease in these
patients who are also susceptible to infectious complications due to the large
doses of radiation or chemotherapy they receive prior to transplantation. The
company has recently added other sites to this study.
In
September of 2006, the European Agency for the Evaluation of Medicinal Products
("EMEA") granted an orphan medicinal product designation to NEUPREX(r) in
meningococcal sepsis, a potentially life-threatening bacterial infection
predominantly affecting young children. XOMA is completing the regulatory
assessment for NEUPREX(r) under the EMEA Exceptional Circumstances mechanism
during the first half of 2007 and intends to base its planned application on
existing Phase III clinical trial data.
XOMA
629 (a reformulation of XMP.629) XOMA-owned Product
Candidate
XOMA
629
is a topical anti-bacterial formulation of a BPI-derived peptide under
development for treatment of acne and other skin infections. Certain bacteria
commonly found on human skin are associated with inflammatory lesions in acne
patients. The emergence of strains resistant to current antibiotics used to
treat acne has encouraged XOMA researchers to review the properties of the
compound for this dermatological indication. In August of 2004, XOMA announced
that the results of a Phase II trial were inconclusive at demonstrating a
clinical benefit of XMP.629 when compared with vehicle gel. In September of
2006, the company announced that it had reformulated its original gel to
increase its skin penetration and improve other characteristics. XOMA is
currently conducting preclinical studies to optimize the reformulated product
and intends to initiate Phase I clinical trials in 2007.
HCD122
(formerly CHIR-12.12) Novartis Collaboration
HCD122
is
a fully human anti-CD40 antagonist antibody intended as a treatment for B-cell
mediated diseases, including malignancies and autoimmune diseases. This antibody
has a dual mechanism of action blocking tumor cell growth and survival signals
as well as recruiting immune effector cells to kill tumor cells. HCD122 is
the
first product candidate selected under the multi-product oncology antibody
development and commercialization agreement announced by Novartis and XOMA,
initiated in March of 2004. In April of 2005, the company announced the
initiation of a Phase I study for patients with advanced chronic lymphocytic
leukemia and in October of 2005, it initiated a second Phase I study for
patients with multiple myeloma. In December of 2006 the company reported
favorable preliminary results of these Phase I trials, as well as favorable
pre-clinical results of comparisons of HCD122 with RITUXAN(r). Both Phase I
trials are ongoing. The company expects to expand clinical development with
one
or more additional indications in the first half of 2008. In addition, the
company is investigating a number of undisclosed preclinical stage programs
with
Novartis.
Metabolic
Disease Target: Lexicon Collaboration
In
June
of 2005, XOMA began a collaboration to jointly develop and commercialize
multiple antibody drugs for metabolic disease targets discovered by Lexicon
Pharmaceuticals, Inc. using their proprietary gene knock-out technology. The
initial targets are secreted proteins involved in various metabolic functions.
Antibodies to these targets may be developed to treat a variety of metabolic
diseases. XOMA continues to make preclinical progress on the development of
antibodies against these targets.
Contract
Development and Collaboration Agreements
NIAID
Contract: Anti-Botulinum Neurotoxin Program
In
July
of 2006, XOMA was awarded a $16.3 million contract to produce monoclonal
antibodies for the treatment of botulism to protect U.S. citizens against the
harmful effects of botulinum neurotoxins used in bioterrorism. XOMA is
continuing to make good progress in completion of this contract. The contract
work is being performed on a cost plus fixed fee basis over a three year period
and will be 100% funded with Federal funds from NIAID under Contract No.
HHSN266200600008C.
Schering-Plough
Collaboration: Undisclosed Targets
In
May of
2006, XOMA entered into a collaboration agreement with Schering-Plough for
therapeutic monoclonal antibody discovery and development. During the
collaboration, XOMA will discover therapeutic antibodies against one or more
targets selected by Schering-Plough, use its phage display libraries to generate
fully human antibodies and the company's proprietary Human Engineering
technology to humanize antibody candidates generated by hybridoma techniques,
perform pre-clinical studies to support regulatory filings, cell line and
process development and produce antibodies for initial clinical trials. In
January of 2007, XOMA announced that this collaboration had been expanded to
include additional disease targets. XOMA estimates that it could receive more
than $75 million before royalties over the life of the agreement in aggregate
upfront, R&D funding, milestone and other payments.
Takeda
Collaboration: Undisclosed Targets
In
November of 2006, the company entered into a collaboration agreement with Takeda
for therapeutic monoclonal antibody discovery and development. During the
collaboration, XOMA will discover therapeutic antibodies against multiple
targets selected by Takeda. In February of 2007, XOMA announced that this
collaboration had been expanded to include additional disease targets in
oncology. XOMA estimates that it could receive more than $230 million, before
royalties, over the life of the agreement in aggregate upfront, R&D funding,
milestone and other payments.
Investor
Conference Call
XOMA
will
host a conference call and webcast to discuss its second quarter 2007 results
today, August 8, 2007, at 5:00 p.m. Eastern. The webcast can be
accessed via XOMA's website at www.xoma.com and will be available for replay
until close of business on November 8, 2007. To obtain phone access to the
live
audiocast, dial 1-877-407-9205 in the U.S. and Canada. International callers
should dial 1-201-689-8054. No conference ID is necessary. A telephonic replay
will be available beginning two hours after the conclusion of the call until
close of business on August 22, 2007. Access numbers for the replay are
1-877-660-6853 (U.S./Canada) or 1-201-612-7415 (International). Two access
numbers are required for the replay: account number 286 and conference ID #
248324.
About
XOMA
XOMA
is a
leader in the discovery, development and manufacture of therapeutic antibodies,
with a therapeutic focus that includes cancer and immune diseases. XOMA has
royalty interests in RAPTIVA(r) (efalizumab), a monoclonal antibody product
marketed worldwide (by Genentech and Merck Serono) to treat moderate-to-severe
plaque psoriasis, and LUCENTIS(r) (ranibizumab injection), a monoclonal antibody
product marketed worldwide (by Genentech and Novartis) to treat neovascular
(wet) age-related macular degeneration.
The
company has built a premier antibody discovery and development platform that
includes access to seven of the leading commercially available antibody phage
display libraries and XOMA's proprietary Human Engineering(tm) and BCE
technologies. More than 45 companies have signed
BCE
licenses. XOMA's development collaborators include Lexicon, Novartis,
Schering-Plough and Takeda. With a fully integrated product development
infrastructure, XOMA's product development capabilities extend from preclinical
sciences to product launch. For more information, please visit the company's
website at www.xoma.com.
Certain
statements contained herein concerning the sufficiency of our cash resources,
sales of approved products, expected payments under existing agreements and/or
product development or that otherwise relate to future periods 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. These
statements are based on assumptions that may not prove accurate. Actual results
could differ materially from those anticipated due to certain risks inherent
in
the biotechnology industry and for companies engaged in the development of
new
products in a regulated market.
Among
other things the sufficiency of our cash may be other than as expected due
to
unanticipated changes in XOMA's research and development programs;
unavailability of additional arrangements, lower than anticipated sales of
approved products or failure of products to receive approval; the sales efforts
for approved products may not be successful if the parties responsible for
marketing and sales fail to meet their commercialization goals, due to the
strength of competition, if physicians do not adopt the products as treatments
for their patients or if remaining regulatory approvals are not obtained or
maintained; and XOMA will not receive the estimated total amounts of funds
if it
cannot successfully carry out its obligations under its existing
contracts.
These
and
other risks, including those related to the results of discovery and
pre-clinical testing; the timing or results of pending and future clinical
trials (including the design and progress of clinical trials; safety and
efficacy of the products being tested; action, inaction or delay by the FDA,
European or other regulators or their advisory bodies; and analysis or
interpretation by, or submission to, these entities or others of scientific
data); changes in the status of existing collaborative relationships; the
ability of collaborators and other partners to meet their obligations; XOMA's
ability to meet the demands of the United States government agency with which
it
has entered into its government contracts; competition; market demands for
products; scale-up and marketing capabilities; availability of additional
licensing or collaboration opportunities; international operations; share price
volatility; XOMA's financing needs and opportunities; uncertainties regarding
the status of biotechnology patents; uncertainties as to the costs of protecting
intellectual property; and risks associated with XOMA's status as a Bermuda
company, 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.
XOMA
Ltd.
CONSOLIDATED
BALANCE SHEETS
(in
thousands, except share and per share amounts)
|
|
June
30,
2007
|
|
|
December
31, 2006
|
|
|
|
(unaudited)
|
|
|
|
|
ASSETS
|
|
|
|
|
|
|
Current
assets:
|
|
|
|
|
|
|
Cash
and cash equivalents
|
|
$ |
17,174
|
|
|
$ |
28,002
|
|
Short-term
investments
|
|
|
6,805
|
|
|
|
18,381
|
|
Restricted
cash
|
|
|
5,215
|
|
|
|
4,330
|
|
Receivables
|
|
|
12,257
|
|
|
|
13,446
|
|
Prepaid
expenses
|
|
|
1,270
|
|
|
|
1,061
|
|
Debt
issuance costs
|
|
|
254
|
|
|
|
668
|
|
Total
current assets
|
|
|
42,975
|
|
|
|
65,888
|
|
Property
and equipment, net
|
|
|
23,230
|
|
|
|
22,434
|
|
Debt
issuance costs – long-term
|
|
|
849
|
|
|
|
2,661
|
|
Deposits
and Other
|
|
|
495
|
|
|
|
495
|
|
Total
assets
|
|
$ |
67,549
|
|
|
$ |
91,478
|
|
|
|
|
|
|
|
|
|
|
LIABILITIES
AND SHAREHOLDERS’ EQUITY
|
|
|
|
|
|
|
|
|
(NET
CAPITAL DEFICIENCY)
|
|
|
|
|
|
|
|
|
Current
liabilities:
|
|
|
|
|
|
|
|
|
Accounts
payable
|
|
$ |
5,022
|
|
|
$ |
4,186
|
|
Accrued
liabilities
|
|
|
6,625
|
|
|
|
7,086
|
|
Accrued
interest
|
|
|
870
|
|
|
|
1,794
|
|
Deferred
revenue
|
|
|
7,681
|
|
|
|
9,601
|
|
Total
current liabilities
|
|
|
20,198
|
|
|
|
22,667
|
|
Deferred
revenue – long-term
|
|
|
11,871
|
|
|
|
8,768
|
|
Convertible
debt – long-term
|
|
|
—
|
|
|
|
46,823
|
|
Interest
bearing obligation – long-term
|
|
|
49,249
|
|
|
|
51,393
|
|
Total
liabilities
|
|
|
81,318
|
|
|
|
129,651
|
|
|
|
|
|
|
|
|
|
|
Commitments
and contingencies
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Shareholders’
equity (net capital deficiency):
|
|
|
|
|
|
|
|
|
Preference
shares, $.05 par value, 1,000,000 shares authorized
|
|
|
|
|
|
|
|
|
Series
A, 210,000 designated, no shares issued and outstanding
|
|
|
—
|
|
|
|
—
|
|
Series
B, 8,000 designated, 2,959 shares issued and outstanding; aggregate
liquidation preference of $29.6 million
|
|
|
1
|
|
|
|
1
|
|
Common
shares, $.0005 par value, 210,000,000 shares authorized, 131,730,649
and
105,454,389 shares outstanding at June 30, 2007 and December 31,
2006,
respectively
|
|
|
66
|
|
|
|
53
|
|
Additional
paid-in capital
|
|
|
737,963
|
|
|
|
689,315
|
|
Accumulated
comprehensive loss
|
|
|
—
|
|
|
|
(9 |
) |
Accumulated
deficit
|
|
|
(751,799 |
) |
|
|
(727,533 |
) |
Total
shareholders’ equity (net capital deficiency)
|
|
|
(13,769 |
) |
|
|
(38,173 |
) |
Total
liabilities and shareholders’ equity (net capital
deficiency)
|
|
$ |
67,549
|
|
|
$ |
91,478
|
|
|
|
|
|
|
|
|
|
|
XOMA
Ltd.
CONDENSED
CONSOLIDATED STATEMENTS OF OPERATIONS
(unaudited,
in thousands, except per share amounts)
|
|
Three
Months Ended
June
30,
|
|
|
Six
Months Ended
June
30,
|
|
|
|
2007
|
|
|
2006
|
|
|
2007
|
|
|
2006
|
|
Revenues:
|
|
|
|
|
|
|
|
|
|
|
|
|
License
and collaborative fees
|
|
$ |
130
|
|
|
$ |
731
|
|
|
$ |
4,548
|
|
|
$ |
1,385
|
|
Contract
and other revenue
|
|
|
9,747
|
|
|
|
4,681
|
|
|
|
14,106
|
|
|
|
7,775
|
|
Royalties
|
|
|
4,259
|
|
|
|
2,100
|
|
|
|
7,734
|
|
|
|
3,956
|
|
Total
revenues
|
|
|
14,136
|
|
|
|
7,512
|
|
|
|
26,388
|
|
|
|
13,116
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating
costs and expenses:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Research
and development (including contract related of $5,675 and $2,672
for the
three months ended June 30, 2007 and 2006, respectively, and $9,224
and
$4,611, respectively, for the six months ended June 30, 2007 and
2006,
respectively)
|
|
|
17,315
|
|
|
|
12,104
|
|
|
|
33,244
|
|
|
|
24,285
|
|
General
and administrative
|
|
|
4,352
|
|
|
|
4,386
|
|
|
|
9,261
|
|
|
|
9,439
|
|
Total
operating costs and expenses
|
|
|
21,667
|
|
|
|
16,490
|
|
|
|
42,505
|
|
|
|
33,724
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Loss
from operations
|
|
|
(7,531 |
) |
|
|
(8,978 |
) |
|
|
(16,117 |
) |
|
|
(20,608 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other
income (expense):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Investment
and interest income
|
|
|
377
|
|
|
|
385
|
|
|
|
978
|
|
|
|
842
|
|
Interest
income/(expense)
|
|
|
(1,184 |
) |
|
|
2,681
|
|
|
|
(9,117 |
) |
|
|
(6,745 |
) |
Other
expense
|
|
|
—
|
|
|
|
(3 |
) |
|
|
(10 |
) |
|
|
(7 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net
loss
|
|
$ |
(8,338 |
) |
|
$ |
(5,915 |
) |
|
$ |
(24,266 |
) |
|
$ |
(26,518 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic
and diluted net loss per common share
|
|
$ |
(0.06 |
) |
|
$ |
(0.06 |
) |
|
$ |
(0.20 |
) |
|
$ |
(0.29 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Shares
used in computing basic and diluted net loss per common
share
|
|
|
131,694
|
|
|
|
96,661
|
|
|
|
123,988
|
|
|
|
92,326
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Contact:
Greg
Mann
XOMA
–
Investor Relations & Corporate Communications
510-204-7270
mann@xoma.com
-8-