XOMA Royalty Announces Quarterly Preferred Stock Dividends
EMERYVILLE, Calif. — XOMA Royalty Corporation (NASDAQ: XOMA) recently shared exciting news regarding its quarterly cash dividends for preferred stockholders. This decision came from their Board of Directors, enhancing value for investors and further solidifying the company's commitment to its stakeholders.
Details of the Cash Dividends
Stockholders holding the 8.625% Series A Cumulative Perpetual Preferred Stock (NASDAQ: XOMAP) can expect a cash dividend of $0.53906 per share. This reflects the company’s ongoing strategy to reward its investors while promoting sustainable growth.
In addition, holders of depositary shares that represent 1/1000 of a share in XOMA Royalty's 8.375% Series B Cumulative Perpetual Preferred Stock (NASDAQ: XOMAO) will receive $0.52344 per depositary share. The announcement of these dividends showcases the company's robust fiscal health and dedication to its preferred stockholders.
Payment Schedule and Record Keeping
These preferred dividends are slated to be disbursed around July 15 to all respective stockholders who are on record as of July 3. This timeline is a crucial detail for investors, allowing them to prepare for the receipt of their dividends.
About XOMA Royalty Corporation
XOMA Royalty Corporation positions itself uniquely in the biotechnology sector as a royalty aggregator. The company plays an instrumental role in aiding biotech firms focus on enhancing human health. They specialize in acquiring future economic interests linked with therapeutic candidates that have been licensed to pharmaceutical companies.
When XOMA Royalty secures these future economic prospects, it provides the seller with crucial non-dilutive funding. This financial support enables biotech companies to advance their internal drug candidates or to fund broader corporate endeavors. With a diverse and expanding portfolio of assets, XOMA Royalty stands out in its field.
Understanding the Company’s Asset Portfolio
In the context of this announcement, it’s important to clarify that any mention of XOMA Royalty's “portfolio” pertains specifically to milestone and royalty rights associated with a variety of drug products currently in development. Meanwhile, references to “assets” pertain to individual drug products under investigation.
Current Commercial Assets and Future Potential
XOMA Royalty's current portfolio is noteworthy, encompassing several commercial assets such as VABYSMO (faricimab-svoa), OJEMDA (tovorafenib), and other innovative therapies. Each of these products represents a significant step in medical advancement, showcasing the potential for both profitability and impact on patient care. However, it is vital to understand that all assets under development are investigational, thus efficacy and safety have yet to be firmly established. There is no assurance that these investigational compounds will achieve commercial availability.
Investor and Media Contacts
XOMA Royalty Corporation values communication and transparency with its investors and partners. The designated investor contact for any inquiries is Juliane Snowden, reachable at +1-646-438-9754 or via email at juliane.snowden@xoma.com. For media inquiries, Kathy Vincent from KV Consulting & Management is available at +1-310-403-8951 or through kathy@kathyvincent.com.
Frequently Asked Questions
What dividends has XOMA Royalty Corporation announced?
XOMA Royalty announced cash dividends for its Series A and Series B Preferred Stocks, rewarding its investors with significant payouts.
When will the dividends be paid?
The dividends are expected to be paid around July 15, based on records as of July 3.
What is the role of XOMA Royalty in biotech?
XOMA Royalty serves as a biotechnology royalty aggregator, supporting companies in developing innovative health solutions through financial backing.
What assets are in XOMA’s current portfolio?
Current assets include products like VABYSMO and OJEMDA among others, which are part of their growing portfolio.
How can I contact XOMA Royalty Corporation?
Investor inquiries can be directed to Juliane Snowden and media inquiries to Kathy Vincent, with contact details provided in the announcement.
