Latest news with #XOMA
Yahoo
3 days ago
- Business
- Yahoo
Turnstone Biologics Corp. Enters into Agreement to be Acquired by XOMA Royalty Corporation for $0.34 in Cash Per Share Plus a Contingent Value Right
EMERYVILLE, Calif. and SAN DIEGO, June 27, 2025 (GLOBE NEWSWIRE) -- XOMA Royalty Corporation ('XOMA Royalty') (Nasdaq: XOMA) and Turnstone Biologics Corp. ('Turnstone' or the 'Company') (Nasdaq-CM: TSBX) today announced that they have entered into a definitive merger agreement ('the Merger Agreement'), whereby XOMA Royalty will acquire Turnstone for $0.34 in cash per share of Turnstone common stock ('Turnstone common stock') plus one non-transferable contingent value right ('CVR'). Following a thorough review process conducted with the assistance of its legal and financial advisors, the Turnstone Board of Directors has unanimously determined that the acquisition by XOMA Royalty is in the best interests of all Turnstone stockholders and has approved the Merger Agreement and related transactions. TermsPursuant and subject to the terms of the Merger Agreement, XOMA Royalty will commence a tender offer (the "Offer") by July 11, 2025, to acquire all outstanding shares of Turnstone common stock. The closing of the Offer is subject to certain conditions, including the tender of Turnstone common stock representing at least a majority of the total number of outstanding shares, a minimum cash balance at closing, and other customary closing conditions. Immediately following the closing of the tender offer, Turnstone will be acquired by XOMA Royalty, and all remaining shares not tendered in the offer, other than shares validly subject to appraisal, will be converted into the right to receive the same cash and CVR consideration per share as is provided in the tender offer. Turnstone stockholders holding approximately 25.2% of Turnstone common stock have signed support agreements under which such stockholders have agreed to tender their shares in the Offer and support the merger transaction. The merger transaction is expected to close in August 2025. AdvisorsLeerink Partners is acting as exclusive financial advisor and Cooley LLP is acting as legal counsel to Turnstone. Gibson, Dunn & Crutcher LLP is acting as legal counsel to XOMA Royalty. About XOMA Royalty CorporationXOMA Royalty is a biotechnology royalty aggregator playing a distinctive role in helping biotech companies achieve their goal of improving human health. XOMA Royalty acquires the potential future economics associated with pre-commercial and commercial therapeutic candidates that have been licensed to pharmaceutical or biotechnology companies. When XOMA Royalty acquires the future economics, the seller receives non-dilutive, non-recourse funding they can use to advance their internal drug candidate(s) or for general corporate purposes. XOMA Royalty has an extensive and growing portfolio of assets (asset defined as the right to receive potential future economics associated with the advancement of an underlying therapeutic candidate). For more information about XOMA Royalty and its portfolio, please visit or follow XOMA Royalty Corporation on LinkedIn. About TurnstoneTurnstone Biologics is a biotechnology company historically focused on the development of a differentiated approach to treat and cure patients with solid tumors by pioneering selected tumor-infiltrating lymphocyte ('Selected TIL') therapy. For additional information about Turnstone, please visit XOMA Royalty Forward-Looking Statements/Explanatory NotesCertain statements contained in this press release are forward-looking statements, including statements regarding the expected timing and ability to satisfy the conditions required to close the tender offer, the merger and other transactions contemplated by the Merger Agreement. In some cases, you can identify such forward-looking statements by terminology such as 'expect,' 'may,' or 'will,' the negative of these terms or similar expressions. These forward-looking statements are not a guarantee of XOMA Royalty's performance, and you should not place undue reliance on such statements. These statements are based on assumptions that may not prove accurate, and actual results could differ materially from those anticipated due to certain risks including that XOMA Royalty does not achieve anticipated net cash after winding down Turnstone's operations and that the conditions to the closing the merger in the Merger Agreement are not satisfied. Other potential risks to XOMA Royalty meeting these expectations are described in more detail in XOMA Royalty's most recent filing on Form 10-Q and in other filings with the Securities and Exchange Commission ('SEC'). Any forward-looking statement in this press release represents XOMA Royalty's beliefs and assumptions only as of the date of this press release and should not be relied upon as representing its views as of any subsequent date. XOMA Royalty disclaims any obligation to update any forward-looking statement, except as required by applicable law. EXPLANATORY NOTE: Any references to 'portfolio' in this press release refer strictly to milestone and/or royalty rights associated with a basket of drug products in development. Any references to 'assets' in this press release refer strictly to milestone and/or royalty rights associated with individual drug products in development. Turnstone Forward-Looking StatementsThis press release contains 'forward-looking statements,' including, but not limited to, statements regarding the Turnstone's beliefs and expectations and statements about the Offer, the merger and the related transactions, including the timing of and closing conditions to the transactions; the potential payment of proceeds to the Company's stockholders, if any, pursuant to the CVR; and other statements that are not historical fact. These statements may be identified by their use of forward-looking terminology including, but not limited to, 'anticipate,' 'believe,' 'continue,' 'could,' 'estimate,' 'expect,' 'goal,' 'intend,' 'may,' 'might,' 'plan,' 'potential,' 'predict,' 'project,' 'should,' 'target,' 'will,' and 'would,' and similar words expressions are intended to identify forward-looking statements. Forward-looking statements are neither historical facts nor assurances of future performance and involve risks and uncertainties that could cause actual results to differ materially from those projected, expressed or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to: the possibility that various closing conditions set forth in the Merger Agreement may not be satisfied or waived, including uncertainties as to the percentage of Turnstone's stockholders tendering their shares in the Offer; the possibility that competing offers will be made; the possibility that the conditions to the closing of the merger and related transactions may not be met; the risk that the merger and the related transactions may not be completed in a timely manner, or at all, which may adversely affect Turnstone's business and the price of its common stock; significant costs associated with the proposed transactions; the risk that any stockholder litigation in connection with the transactions may result in significant costs of defense, indemnification and liability; the risk that activities related to the CVR agreement may not result in any value to the Company's stockholders; and other risks and uncertainties discussed in Turnstone's Quarterly Report on Form 10-Q for the quarter ended March 31, 2025, filed with the SEC on May 9, 2025, especially under the caption 'Risk Factors,' as well as other documents that may be filed by Turnstone from time to time with the SEC. Investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this release. Turnstone undertakes no obligation to update any forward-looking statement in this press release, except as required by law. Additional Information and Where to Find ItThe tender offer described in this press release has not yet commenced. This press release is for informational purposes only and is neither a recommendation, nor an offer to purchase nor a solicitation of an offer to sell any shares of the Turnstone common stock or any other securities. On the commencement date of the Offer, a tender offer statement on Schedule TO, including an offer to purchase, a letter of transmittal and related documents, will be filed with the SEC by XOMA and its acquisition subsidiary, and a Solicitation/Recommendation Statement on Schedule 14D-9 will be filed with the SEC by the Company. The Offer to purchase the outstanding shares of Turnstone common stock will only be made pursuant to the offer to purchase, the letter of transmittal and related documents filed as a part of the Schedule TO. INVESTORS AND SECURITY HOLDERS ARE URGED TO READ THE TENDER OFFER MATERIALS (INCLUDING THE OFFER TO PURCHASE, A LETTER OF TRANSMITTAL AND RELATED DOCUMENTS) AND THE SOLICITATION/RECOMMENDATION STATEMENT ON SCHEDULE 14D-9 REGARDING THE OFFER, AS THEY MAY BE AMENDED OR SUPPLEMENTED FROM TIME TO TIME, WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION THAT INVESTORS AND SECURITY HOLDERS SHOULD CONSIDER BEFORE MAKING ANY DECISION REGARDING TENDERING THEIR SHARES, INCLUDING THE TERMS AND CONDITIONS OF THE OFFER. Investors and security holders may obtain a free copy of these statements (when available) and other documents filed with the SEC at the website maintained by the SEC at or by directing such requests to the information agent for the Offer, which will be named in the tender offer statement. Investors and security holders may also obtain, at no charge, the documents filed or furnished to the SEC by the Company and XOMA by accessing the Investor Relations sections of both companies' websites at and XOMA Royalty Investor Contact XOMA Royalty Media Contact Juliane Snowden Kathy Vincent XOMA Royalty Corporation KV Consulting & Management +1 646-438-9754 +1 310-403-8951 kathy@ Turnstone Biologics Contact Ahmed Aneizi Investor Relations Turnstone Biologics +1 (347) 897-5988
Yahoo
5 days ago
- Business
- Yahoo
XOMA Royalty (XOMA) Moves 9.0% Higher: Will This Strength Last?
XOMA Royalty (XOMA) shares soared 9% in the last trading session to close at $26.22. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 3.2% loss over the past four weeks. The rise in the stock price can be attributed to the positive investor mindset regarding Xoma's extensive and growing portfolio of assets, defined as the right to receive potential future payments related to the advancement of an underlying therapeutic candidate. Last month, the company reported robust financial results for the first quarter of 2025. This drug developer is expected to post quarterly loss of $0.12 per share in its upcoming report, which represents a year-over-year change of +57.1%. Revenues are expected to be $9.43 million, down 15% from the year-ago quarter. Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements. For XOMA Royalty, the consensus EPS estimate for the quarter has been revised 33.9% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on XOMA going forward to see if this recent jump can turn into more strength down the road. The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> XOMA Royalty belongs to the Zacks Medical - Biomedical and Genetics industry. Another stock from the same industry, Compugen (CGEN), closed the last trading session 0.6% lower at $1.63. Over the past month, CGEN has returned 13.1%. Compugen's consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.07. Compared to the company's year-ago EPS, this represents a change of -250%. Compugen currently boasts a Zacks Rank of #3 (Hold). Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report XOMA Royalty Corporation (XOMA) : Free Stock Analysis Report Compugen Ltd. (CGEN) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Washington Post
13-05-2025
- Business
- Washington Post
XOMA Royalty: Q1 Earnings Snapshot
EMERYVILLE, Calif. — EMERYVILLE, Calif. — XOMA Royalty Corporation (XOMA) on Tuesday reported first-quarter earnings of $2.4 million. On a per-share basis, the Emeryville, California-based company said it had profit of 6 cents. The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 26 cents per share.
Yahoo
13-05-2025
- Business
- Yahoo
XOMA Royalty: Q1 Earnings Snapshot
EMERYVILLE, Calif. (AP) — EMERYVILLE, Calif. (AP) — XOMA Royalty Corporation (XOMA) on Tuesday reported first-quarter earnings of $2.4 million. On a per-share basis, the Emeryville, California-based company said it had profit of 6 cents. The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 26 cents per share. The drug developer posted revenue of $15.9 million in the period. _____ This story was generated by Automated Insights ( using data from Zacks Investment Research. Access a Zacks stock report on XOMA at Sign in to access your portfolio
Yahoo
08-04-2025
- Business
- Yahoo
BioInvent Receives Milestone Payment as Takeda moves mezagitamab into Phase 3
LUND, SWEDEN / / April 8, 2025 / BioInvent International AB ("BioInvent") (Nasdaq Stockholm:BINV), a biotech company focused on the discovery and development of novel and first-in-class immune-modulatory antibodies for cancer immunotherapy, today announces that it has earned a 1 million USD milestone payment, following Takeda's (TSE:4502/NYSE:TAK) initiation of Phase 3 clinical trial of mezagitamab (TAK-079), identified from BioInvent's proprietary n-CoDeR® antibody library. The study is evaluating this potential best-in-class anti-CD83 monoclonal antibody for persistent or chronic primary immune thrombocytopenia (ITP). "We are excited to see mezagitamab progress into Phase 3 trials, marking a significant step for Takeda and our n-CoDeR platform," said Martin Welschof, Chief Executive Officer of BioInvent. "This milestone not only validates the consistent high quality of drug candidates identified from our n-CoDeR antibody library, but it also highlights the success of our out-licensing strategy and its ability to drive real-world impact through strategic partnerships." Takeda is developing mezagitamab (TAK-169) under a royalty and milestone agreement with XOMA Corporation (NASDAQ: XOMA) under which Takeda is granted a sublicense to the BioInvent antibody. BioInvent and XOMA have a long-standing cross-licensing agreement covering BioInvent's proprietary n-CoDeR antibody library and XOMA's bacterial protein expression technology. About mezagitamab Mezagitamab has received Orphan Drug Designation for the treatment of ITP and Fast Track Designation for treatment of chronic/persistent ITP from the U.S. Food and Drug Administration (FDA). For information about the ongoing Phase 3 study, please see NCT06722235, "Study of Mezagitamab in Adults With Chronic Primary Immune Thrombocytopenia". About BioInvent BioInvent International AB (Nasdaq Stockholm: BINV) is a clinical-stage biotech company that discovers and develops novel and first-in-class immuno-modulatory antibodies for cancer therapy, with currently five drug candidates in six ongoing clinical programs in Phase 1/2 trials for the treatment of hematological cancer and solid tumors. The Company's validated, proprietary F.I.R.S.T™ technology platform identifies both targets and the antibodies that bind to them, generating many promising new immune-modulatory candidates to fuel the Company's own clinical development pipeline and providing licensing and partnering opportunities. The Company generates revenues from research collaborations and license agreements with multiple top-tier pharmaceutical companies, as well as from producing antibodies for third parties in the Company's fully integrated manufacturing unit. More information is available at For further information, please contact: Cecilia Hofvander, VP Investor RelationsPhone: +46 (0)46 286 85 50Email: International AB (publ) Co. Reg. No.: 556537-7263Visiting address: Ideongatan 1Mailing address: 223 70 LUNDPhone: +46 (0)46 286 85 The press release contains statements about the future, consisting of subjective assumptions and forecasts for future scenarios. Predictions for the future only apply as the date they are made and are, by their very nature, in the same way as research and development work in the biotech segment, associated with risk and uncertainty. With this in mind, the actual outcome may deviate significantly from the scenarios described in this press release. Attachments BioInvent Receives Milestone Payment as Takeda moves mezagitamab into Phase 3 SOURCE: BioInvent International View the original press release on ACCESS Newswire Sign in to access your portfolio
