Volixibat (IBAT Inhibitor)

March 18, 2026 — XOMA Royalty Corporation (NASDAQ: XOMA) reported 4Q25 and full-year 2025 financial results and summarized portfolio and business development updates. In 2025, XOMA received $50.5M in cash receipts ($33.6M royalties/commercial payments; $16.9M milestones/fees), with total receipts up 9% and royalties up 68% versus 2024. 4Q25 receipts were $3.2M royalties/commercial plus $3.3M milestones; the company paid $1.4M preferred dividends in the quarter.

Full-year income/revenue rose to $52.1M (from $28.5M), driven mainly by VABYSMO® and OJEMDA™ and milestones from Rezolute and Takeda. Net income was $31.7M (vs. a $13.8M net loss in 2024); operating cash flow was positive at $2.9M. Year-end cash and equivalents were $133.7M (including $50.8M restricted). XOMA repurchased 648,048 shares for $16.0M, deployed $25.0M to acquire new portfolio assets, and completed seven acquisitions, adding $11.7M non-dilutive capital and interests in up to ~$1.1B in milestones plus low-to-mid single-digit royalties from eight partnered programs.

Pipeline/partner catalysts highlighted for 2026 include volixibat PSC Phase 2b data (Q2), ersodetug tumor HI Phase 3 topline (2H), potential EMA decisions for OJEMDA and MIPLYFFA, and regulatory updates for ersodetug (congenital HI) and seralutinib (PAH; Phase 3 missed prespecified alpha despite p=0.032).