Subsequent Events |
9 Months Ended |
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Sep. 30, 2011 | |
| Subsequent Events [Abstract] | |
| Subsequent Events |
11. Subsequent Events
Domestication of the Company
The Company announced its intention to change its jurisdiction of incorporation from Bermuda to Delaware (the “Domestication”). Upon completion of the Domestication, all of the outstanding common shares of the Bermuda company will automatically be converted by operation of law into common stock of a Delaware corporation on a one-for-one basis. A registration statement relating to the common stock of the Delaware corporation has been filed with the SEC but has not yet become effective. These securities may not be exchanged nor may offers to exchange be accepted prior to the time the registration statement becomes effective, and the announcement does not constitute an offer of any securities for exchange or sale. Although the Domestication will not require shareholder approval, it is subject to the final approval of XOMA's Board of Directors.
NIAID Contract
In October of 2011, the Company announced that NIAID had awarded the Company a new contract under Contract No. HHSN272201100031C for up to $28.0 million over 5 years to develop broad-spectrum antitoxins for the treatment of human botulism poisoning.
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