Xoma Shares Rally Following Strategic Biotech Acquisition

Xoma Royalty shares demonstrated positive momentum at the week’s opening, trading at $32.14 and marking a nearly 1 percent gain. This upward movement follows the company’s successful acquisition of LAVA Therapeutics, a strategic move that significantly enhances its portfolio. The transaction brings economic interests in two promising cancer therapeutics, developed in collaboration with industry leaders Johnson & Johnson and Pfizer.

Finalized on November 21, the acquisition agreement stipulates that LAVA Therapeutics shareholders will receive $1.04 per share. Additionally, they will obtain a non-transferable Contingent Value Right (CVR). These CVRs entitle holders to 75% of the net proceeds generated from LAVA’s existing partner-related business and its company-controlled programs. A potential extra payment of up Read more...