UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
Pursuant to Section 13 or 15(d)
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| Item 8.01. | Other Events. |
On October 28, 2020, XOMA Corporation (the “Company”), issued a press release announcing that NIS793, an anti-TGFb monoclonal antibody licensed from the Company pursuant to a License Agreement between the Company and Novartis Pharma AG (formerly known as Novartis International Pharmaceutical Ltd.) (“Novartis”), dated September 30, 2015 (the “License Agreement”), has advanced to the Phase 2 development stage, triggering a $25 million milestone payment from Novartis. The Phase 2 clinical trial (NCT04390763) is designed to assess the efficacy and safety of NIS793 in first-line metastatic pancreatic ductal adenocarcinoma.
The Company expects that approximately $7.3 million of the anticipated NIS793 milestone payment will be applied as a partial payment towards the Company’s debt obligation to Novartis, and the remaining balance of approximately $17.7 million will be paid in cash to the Company.
A copy of the press release titled “XOMA Earns $25 Million Milestone Payment as Anti-TGFb Antibody Enters Phase 2 Clinical Study in Metastatic Pancreatic Cancer” is attached hereto as Exhibit 99.1 and incorporated by reference herein.
| Item 9.01. | Financial Statements and Exhibits. |
(d) Exhibits
| Number | Description of Document | |
| 99.1 | Press release entitled “XOMA Earns $25 Million Milestone Payment as Anti-TGFb Antibody Enters Phase 2 Clinical Study in Metastatic Pancreatic Cancer” dated October 28, 2020 | |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) | |
SIGNATURES
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.
| XOMA CORPORATION | ||||||
| Date: October 28, 2020 | /s/ Thomas Burns | |||||
| Thomas Burns | ||||||
| Senior Vice President, Finance and Chief Financial Officer | ||||||