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

Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Financial Statements Details

Condensed Consolidated Financial Statements Details

3 Months Ended

Mar. 31, 2020

Condensed Consolidated Financial Statements Details

Condensed Consolidated Financial Statements Details

3. Condensed Consolidated Financial Statements Details

Equity Securities

As of March 31, 2020 and December 31, 2019, equity securities consisted of an investment in Rezolute’s common stock of $0.4 million and $0.7 million, respectively (Note 4). During the three months ended March 31, 2020 and 2019, the Company recognized a loss of $0.3 million and a gain of $0.7 million, respectively, in the other (expense) income, net line item of the condensed consolidated statements of operations and comprehensive (loss) income due to the change in fair value of its investment in Rezolute’s common stock.

Accrued and Other Liabilities

Accrued and other liabilities consisted of the following (in thousands):


	March 31,		December 31,
	2020		2019
Accrued legal and accounting fees	$	398	$	256
Accrued payroll and other benefits		131		231
Interest payable		62		69
Accrued incentive compensation		55		332
Other		63		57
Total	$	709	$	945

Net (Loss) Income Per Share Attributable to Common Stockholders

The following is a reconciliation of the numerator (net income or loss) and the denominator (number of shares) used in the calculation of basic and diluted net (loss) income per share attributable to common stockholders (in thousands, except per share amounts):


	Three Months Ended March 31,
	2020		2019
Numerator
Net (loss) income	$	(4,758)	$	3,233
Less: Allocation of undistributed earnings to participating securities		—		(1,352)
Net (loss) income available to common stockholders, basic		(4,758)		1,881
Add: Adjustments to undistributed earnings allocated to participating securities		—		54
Net (loss) income available to common stockholders, diluted	$	(4,758)	$	1,935

Denominator
Weighted average shares used in computing basic net (loss) income per share available to common stockholders		9,761		8,706
Effect of dilutive stock options		—		618
Weighted average shares used in computing diluted net (loss) income per share available to common stockholders		9,761		9,324
Basic net (loss) income per share of common stock	$	(0.49)	$	0.22
Diluted net (loss) income per share of common stock	$	(0.49)	$	0.21

Potentially dilutive securities are excluded from the calculation of diluted net (loss) income per share available to common stockholders if their inclusion is anti-dilutive.

The following table shows the weighted-average outstanding securities considered anti-dilutive and therefore excluded from the computation of diluted net (loss) income per share attributable to common stockholders (in thousands):


	Three Months Ended March 31,
	2020	2019
Convertible preferred stock	6,256	—
Common stock options and RSUs	532	830
Warrants for common stock	15	25
Total	6,803	855