Exhibit
99.2
XOMA
Announces NASDAQ Matter Resolved with Letter of Reprimand
No
Change in Listing Status
Berkeley,
CA, December 9, 2009 – XOMA Ltd. (NASDAQ: XOMA), a leader in the discovery and
development of therapeutic antibodies, announced that it received a Letter of
Reprimand from the staff of The NASDAQ Stock Market LLC on December 8, 2009 for
non-compliance with NASDAQ’s Listing Rule 5635(d)(2) in connection with XOMA’s
previously-announced common share financing completed on September 30,
2009. The issuance of this letter completed the NASDAQ staff’s review
of the matter which was referenced in the previously-disclosed November 13, 2009
letter to XOMA. XOMA’s common shares will remain listed on The NASDAQ
Global Market.
The
letter states that, although the NASDAQ staff determined that the company failed
to comply with the rule, it was appropriate to close the matter with a Letter of
Reprimand in light of the apparent inadvertent nature of the violation, the
company’s reliance on its outside advisors, the company’s efforts to remedy the
transaction and assure future compliance, and because the company has not
demonstrated a pattern of non-compliance with NASDAQ’s continued listing
rules.
About
XOMA
XOMA
discovers, develops and manufactures novel antibody therapeutics for its own
proprietary pipeline as well as through license and collaborative agreements
with pharmaceutical and biotechnology companies, and under its contracts with
the U.S. government. The company's proprietary product pipeline includes: XOMA
052, an anti-IL-1 beta antibody in Phase 2 clinical development for Type 2
diabetes and cardiovascular disease, XOMA 3AB, an antibody candidate in pre-IND
studies to neutralize the botulinum toxin, and a preclinical pipeline with
candidates in development for inflammatory, autoimmune, infectious and oncologic
diseases
Forward-Looking
Statements
Certain
statements contained herein concerning 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.
These
risks, including those related to inability to comply with NASDAQ’s continued
listing requirements; the declining and generally unstable nature of current
economic conditions; 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.
The XOMA
Ltd. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=5960
SOURCE:
XOMA Ltd.
XOMA
Company
and Investor Contact:
Carol
DeGuzman
510-204-7270
deguzman@xoma.com
Porter
Novelli Life Sciences
Media
Contact:
Carolyn
Hawley
619-849-5375
chawley@pnlifesciences.com
-2-