Xoma Corporation – Nasdaq: XOMA
Xoma Corporation announced, after hours, that it has established proof-of-concept for its product candidate 358 in congenital hyperinsulinism and hypoglycemia post-bariatric surgery. Berkley, CA-based Xoma is up almost 10%, on heavy volumes, in the after-hours market on the news. The regular session ended with XOMA at $4.29 and has reached $4.83 in the after-hours session.
XOMA Corporation develops therapeutic antibodies. The Company’s product candidates result from its expertise in developing ground-breaking monoclonal antibodies, including allosteric antibodies, which have created new opportunities to potentially treat a wide range of human diseases. XOMA’s scientific research has produced a portfolio of endocrine assets, each of which has the opportunity to address multiple indications.
Eric P. Brass, M.D., Ph.D. stated “These data clearly demonstrate that a single-dose of 358 results in predictable and reproducible pharmacokinetics and meaningful improvements in glucose concentrations. The Company can now assess, in follow-on studies, the consistency and magnitude of 358’s effect through multi-dose protocols to yield sustained steady-state drug exposure in the target populations.”
Xoma Corporation sales have been erratic but in 2015 Xoma posted their best results since 2011 with a figure of $$55.4 million. EPS for XOMA has been negative for the past five years, but again the smallest loss was posted in 2015 with a loss figure of $3.50. Four firms follow Xoma and all rate the shares as a “Hold” with a consensus price target of $9.50.
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