XOMA ROYALTY CORP (XOMA)
Health Care · Biotech royalty aggregator / intellectual property financing · NASDAQ
A lean-infrastructure royalty aggregator that generates non-dilutive capital for biotech developers in exchange for long-duration milestone and royalty rights across a diversified 120+ asset portfolio spanning oncology, rare disease, and specialty therapeutics.
What XOMA ROYALTY CORP does
XOMA Royalty Corp is a royalty aggregator that acquires economic rights to future milestone and royalty payments from clinical-stage and approved pharmaceutical products in exchange for non-dilutive capital to drug developers. The company maintains a diversified portfolio of over 120 assets across therapeutic areas, anchored by seven commercial-stage assets including VABYSMO (for retinal diseases), OJEMDA (pediatric oncology), and MIPLYFFA (rare disease). It operates with a lean infrastructure where substantially all R&D and commercialization costs are borne by the asset sponsors, generating revenue primarily through royalty and milestone cash receipts.
Themes: Royalty aggregation / biotech financing, Clinical-stage therapeutics — milestone-driven payments, Oncology (immunotherapy / checkpoint inhibitors / pan-RAF inhibitors), Rare disease, Retinal / ophthalmology, Women's health, Gene therapy, Pain management, Hematology (bleeding disorders), Neonatology
Fundamentals
- Price$40.17 as of 2026-07-21 close
- Market cap$504M as of 2026-07-21
- 1-year return+57.7% 2025-07-21 close $25.48 → 2026-07-21 close $40.17
- P/E20.04 as of 2026-07-21
- Net margin+69.6% as of 2026-08-25
- Gross margin+100.0% as of 2026-08-25
- ROE+32.4% as of 2026-08-25
- Debt / equity0.91 as of 2026-08-25
- Revenue growth (YoY)+13.2% as of 2026-08-25
- Revenue CAGR (3y)+105.3% SEC XBRL
- Beta0.96 as of 2026-08-25
- Last reported earnings2026-03-18 SEC EDGAR Form 8-K (Item 2.02)
Dividend: yield +0.8%; pays a dividend.
How XOMA compares in its sector
- price-to-earnings ratiomiddle range 196 covered Health Care peers, as of 2026-07-21
- net profit margintop 10% 504 covered Health Care peers, as of 2026-08-25
- operating margintop 10% 504 covered Health Care peers, as of 2026-08-25
- gross margintop 10% 384 covered Health Care peers, as of 2026-08-25
- return on equitytop 10% 576 covered Health Care peers, as of 2026-08-25
- 3-year revenue CAGRtop 10% 402 covered Health Care peers
- indicated dividend yieldmiddle range 71 covered Health Care peers, as of 2026-08-25
- free cash flow (absolute dollars, latest fiscal year)bottom 25% 493 covered Health Care peers, as of FY2025
Position among covered Health Care companies that report each metric (minimum 5 peers). A relative position within our covered catalog — not a valuation, quality, or investment judgment. A higher percentile is simply a higher value (for P/E, more expensive on earnings — never "better"). Informational only.
Dividend coverage (FY2025)
Covered by reported results. In FY2025, XOMA's dividend was covered by reported results (earnings payout 17%). This describes past coverage, not a forecast.
- Earnings payout17% dividends / net income
- Free-cash-flow payoutnot assessable free cash flow was not positive that year
Coverage derived from reported SEC EDGAR XBRL figures for FY2025 (dividends paid vs. net income and free cash flow, same fiscal year). This describes PAST coverage for one fiscal year — it does not predict whether a dividend will be maintained, raised, or cut, and a one-year payout ratio can be distorted by non-recurring items. Informational only — not financial advice.
Analyst consensus
- Consensus ratingHold (3.00 mean, 1=Strong Buy…5=Strong Sell) — 1 analyst
- Mean price target$39.00 range $39.00 – $39.00
Analyst estimates, as of 2026-08-18. These are third-party analyst opinions and price targets, aggregated — not a recommendation, prediction, or advice from stocks-llm. Informational only.
Key risks (from latest filing)
["Binary risk on individual assets: regulatory approval or development failure of licensed therapeutics would eliminate or materially reduce expected milestone and royalty payments, with no recourse to XOMA","Licensee funding constraints: third-party developers and sponsors may lack capital to continue development, delaying or halting programs in which XOMA has economic interests","Market and commercialization risk: even if approved, products may face market adoption challenges, restrictive marketing restrictions, regulatory withdrawal, or competitive obsolescence that reduce royalty streams"]
What changed in the latest 10-Q
AI-assisted comparison of XOMA's 10-Q filed 2026-05-12 against the prior one filed 2025-11-12.
Management's Discussion & Analysis (MD&A)
- Added:
- Added reference to 'the proposed merger with Ligand (the "Merger"), our ability to complete the proposed Merger in a timely manner or at all, including the satisfaction or waiver of various conditions to the consummation of the Merger' in forward-looking statements examples (filed 2026-05-12)
- Added reference to 'we may be unable to complete the proposed Merger in a timely manner or at all, including as a result of events that could give rise to the termination of the Merger Agreement' in risk discussion (filed 2026-05-12)
- Added geopolitical reference to 'conflicts in the Middle East and related volatility in commodity prices, including the price of oil' in risk factors (filed 2026-05-12)
- Removed:
- Removed reference to 'Part II, Item 1A of our Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2025' from risk disclosure location statement (filed 2025-11-12)
- Removed reference to 'Annual Report on Form 10-K for the year ended December 31, 2024' and replaced with 'year ended December 31, 2025' (filed 2026-05-12)
- Removed 'or to reflect the occurrence of unanticipated events' and replaced with 'the occurrence of unanticipated events' in forward-looking statements disclaimer (filed 2026-05-12)
- Removed specific language 'litigation, arbitration or other disputes with third parties may not be resolved in our favor and have a material adverse effect on us' and replaced with generic 'may have a material adverse effect on us' (filed 2026-05-12)
- Reworded:
- Changed 'XOMA Royalty Corporation is a biotech royalty aggregator' to 'XOMA is a royalty aggregator' in Overview section (filed 2026-05-12)
- Changed 'this report' to 'this Quarterly Report' in trademark disclaimer paragraph (filed 2026-05-12)
- Removed 'Our portfolio was built through the acquisition of rights to future milestones, royalties, and commercial payments since our royalty aggregator business model was implemented in 2017. These acquisitions build upon out-licensing agreements for proprietary products and platforms held within our portfolio. Our royalty aggregator business is primarily focused on early to mid-stage clinical assets,' section appears truncated in newer filing (filed 2026-05-12)
- Notes:
- Newer filing text appears truncated at Overview section end; full comparison of Overview section changes cannot be completed
- The comparison focuses on the portions of text provided; changes may exist beyond the truncation points
Risk Factors
- Added:
- New risk factor: 'The completion of the Merger is subject to certain conditions, including stockholder and regulatory approvals as well as other uncertainties, and there can be no assurances as to whether and when they may be completed.' (filed 2026-05-12)
- New risk factor: 'Failure to complete the Merger could negatively impact our stock price and future business and financial results.' (filed 2026-05-12)
- New risk factor: 'The CVRs may expire with no value.' (filed 2026-05-12)
- New risk factor: 'While the Merger is pending, we are subject to business uncertainties and contractual restrictions that could materially adversely affect our operating results, financial position and/or cash flows or result in a loss of employees or milestone and royalty partners, licensees or suppliers.' (filed 2026-05-12)
- Removed:
- Risk factor: 'Our results of operations and liquidity needs could be materially negatively affected by market fluctuations or an economic downturn, including as a result of tariff policies.' (filed 2025-11-12)
- Risk factor: 'Disruptions at the FDA and other government agencies could negatively affect the review of our licensees' or royalty-agreement counterparties' regulatory submissions, which could negatively impact our business.' (filed 2025-11-12)
- Reworded:
- Opening statement changed from referencing 'our Annual Report on Form 10-K for the fiscal year ended December 31, 2024' and 'our Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2025' (2025-11-12) to referencing 'our Annual Report on Form 10-K for the fiscal year ended December 31, 2025' only (2026-05-12)
- Notes:
- The newer filing's Risk Factors section appears to be truncated in the provided text, ending mid-sentence regarding merger-related business uncertainties
- The older filing's Risk Factors section also appears truncated, ending with ITEM 2 content which is outside the Risk Factors section
AI-assisted comparison of two SEC filing sections. It describes wording and theme changes only, makes no materiality, legal, or investment judgement, and is not financial advice. Informational only — not financial advice.
Insider activity (SEC Form 4)
No open-market insider purchases or sales are on record for XOMA — recent Form 4 activity was compensation-related (awards, option exercises, or tax withholding), not open-market buying or selling.
View full insider trading history → View SEC Form 3/4/5 filingsOnly open-market purchases (SEC code P) and sales (code S) are counted here. Option exercises, vesting/awards, gifts, and shares withheld for taxes are excluded — they are compensation or mechanical, not open-market conviction. Sales may be planned and non-discretionary (e.g. a Rule 10b5-1 plan) and are not necessarily bearish; open-market buying is not a recommendation to buy. Informational only — not financial advice.
Short interest (FINRA)
XOMA had 914,936 shares of reported short interest as of the 2026-06-30 FINRA settlement date (delayed, bi-monthly; not real-time).
XOMA had 7.30% of its shares outstanding sold short as of the 2026-06-30 FINRA settlement date (percent of FLOAT would be higher — float is not disclosed in the source). FINRA reported 5.04 days to cover at the same settlement.
- Reported short interest (shares) 914,936
- Short interest (% of shares outstanding) 7.30%
- Prior settlement (shares) 898,917
- Reported change 1.78%
- Days to cover (reported) 5.04
Reported to FINRA as of the 2026-06-30 settlement date. Short interest is reported to FINRA and published on a delayed, bi-monthly schedule (as of a settlement date, disseminated roughly eight business days later) — it is NOT real-time, does not cover every venue or all US trading, and is not a short-squeeze prediction or investment advice. Days-to-cover is the value FINRA reports; percent of float is not shown because the source file carries no share-count denominator — where a percent appears it is of shares OUTSTANDING, the larger base, and is therefore a floor on percent of float. Informational only — not financial advice.
Competitors & peers
- Royalty Pharma (RPRX)
- Silvercrest Asset Management
- Cocrystal Pharma
- Lantern Pharma
AI-enriched competitor set. Linked names are companies covered by stocks-llm; other named peers are shown for reference only.
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Frequently asked questions
What does XOMA ROYALTY CORP (XOMA) do?
XOMA Royalty Corp is a royalty aggregator that acquires economic rights to future milestone and royalty payments from clinical-stage and approved pharmaceutical products in exchange for non-dilutive capital to drug developers. The company maintains a diversified portfolio of over 120 assets across therapeutic areas, anchored by seven commercial-stage assets including VABYSMO (for retinal diseases), OJEMDA (pediatric oncology), and MIPLYFFA (rare disease).
What sector is XOMA ROYALTY CORP (XOMA) in?
XOMA ROYALTY CORP (XOMA) is classified in the Health Care sector. Its industry is Biotech royalty aggregator / intellectual property financing. It trades on NASDAQ.
Does XOMA pay a dividend?
Yes — XOMA ROYALTY CORP (XOMA) pays a dividend, with an indicated yield of about 0.78% (market data, as of 2026-08-25). Informational only — not financial advice.
Who are XOMA ROYALTY CORP's (XOMA) competitors?
Notable peers of XOMA ROYALTY CORP (XOMA) include Royalty Pharma, Silvercrest Asset Management, Cocrystal Pharma and Lantern Pharma. This peer set is informational only — not financial advice.
Where does stocks-llm's data on XOMA come from?
Fundamentals and prices come from market data, as of 2026-08-25; company filings and profile facts come from SEC EDGAR. All figures are delayed daily-close data shown with their as-of date — informational only, not financial advice.
Fundamentals: market data, as of 2026-08-25. Filings: SEC EDGAR. Prices are delayed daily-close data.
Last updated 2026-07-21.
Informational only — NOT financial advice. All figures are delayed daily-close data from SEC EDGAR & market data, shown with their as-of date.