XOMA Royalty Corporation Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Stock-based Compensation (Tables)

Stock-based Compensation (Tables)

9 Months Ended

Sep. 30, 2020


	Three Months Ended September 30,			Nine Months Ended September 30,
	2020	2019		2020		2019
Dividend yield	n/a	0	%	0	%	0	%
Expected volatility	n/a	101	%	100	%	103	%
Risk-free interest rate	n/a	1.71	%	0.77	%	2.49	%
Expected term	n/a	5.47 years		5.66 years		5.60 years

Stock Option Activity

Stock option activity for the nine months ended September 30, 2020, was as follows:


		Weighted		Weighted	Aggregate
		Average		Average	Intrinsic
		Exercise		Contractual	Value
	Number of	Price		Term	(in
	shares	Per Share		(in years)	thousands)
Outstanding at beginning of year	1,839,623	$	20.42	6.88	$	26,829
Granted	187,811		21.12
Exercised	(6,000)		4.28
Forfeited, expired or cancelled	(18,655)		141.47
Outstanding at end of period	2,002,779	$	19.41	6.50	$	14,864
Exercisable at end of period	1,659,679	$	19.64	6.02	$	14,167

Stock-based Compensation Expense

The following table shows total stock-based compensation expense for stock options and ESPP in the condensed consolidated statements of operations and comprehensive (loss) income (in thousands):


	Three Months Ended September 30,				Nine Months Ended September 30,
	2020		2019		2020		2019
Research and development	$	—	$	66	$	—	$	174
General and administrative		708		1,428		3,269		4,059
Total stock-based compensation expense	$	708	$	1,494	$	3,269	$	4,233