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, 2021

Stock-based Compensation

Weighted Average Assumptions


		Three Months Ended September 30,					Nine Months Ended September 30,
		2021		2020 ⁽¹⁾			2021		2020
Dividend yield		0	%	n/a			0	%	0	%
Expected volatility		71	%	n/a			90	%	100	%
Risk-free interest rate		0.85	%	n/a			0.79	%	0.77	%
Expected term		5.61 years		n/a			5.67 years		5.66 years

Stock Option Activity


					Weighted			Weighted
					Average			Average			Aggregate
					Exercise			Contractual			Intrinsic
		Number of			Price			Term			Value
		shares			Per Share			(in years)			(in thousands)
Outstanding at January 1, 2021			1,827,906		$	20.66			6.31		$	51,401
Granted			213,711			36.32
Exercised			(74,805)			13.54
Forfeited, expired or cancelled			(57,115)			71.26
Outstanding at September 30, 2021			1,909,697		$	21.18			6.02		$	20,077
Exercisable at September 30, 2021			1,595,665		$	19.53			5.45		$	19,276

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 (in thousands):


		Three Months Ended September 30,						Nine Months Ended September 30,
		2021			2020			2021			2020
Research and development		$	—		$	—		$	—		$	—
General and administrative			779			708			4,445			3,269
Total stock-based compensation expense		$	779		$	708		$	4,445		$	3,269