XOMA Royalty Corp Announces Preferred Stock Dividends Payment
XOMA Royalty Corporation Announces Cash Dividends
XOMA Royalty Corporation, trading under Nasdaq: XOMA, recently made an important announcement regarding its quarterly cash dividends. The company's Board of Directors has officially authorized the payment of dividends to holders of both the Series A and Series B Cumulative Preferred Stock. This decision marks a significant development for shareholders and emphasizes XOMA’s commitment to providing value.
Dividend Details for Preferred Stockholders
Stockholders of the 8.625% Series A Cumulative Perpetual Preferred Stock (Nasdaq: XOMAP) are set to receive a cash dividend of $0.53906 per share. In addition, holders of depositary shares representing 1/1000 of a share of XOMA’s 8.375% Series B Cumulative Perpetual Preferred Stock (Nasdaq: XOMAO) will obtain a cash dividend of $0.52344 for each depositary share. These dividends exhibit XOMA's ongoing dedication to rewarding its investors.
Timeline for Dividend Payments
The preferred dividends for the quarter will be distributed on or around October 15, 2024. This payment will be delivered to all individuals holding shares by the close of business on October 3, 2024. Such timely distributions assure shareholders of XOMA's commitment to consistent dividend practices, reflecting its strong financial health.
About XOMA Royalty Corporation
XOMA Royalty operates within the dynamic biotechnology sector, helping biotech companies further their innovative efforts in drug development. Acting as a royalty aggregator, the company strategically acquires potential future revenues associated with both pre-commercial therapeutic candidates and licensed commercial assets. This unique business model provides non-dilutive funding to sellers, enabling them to focus on advancing their drug candidates or meeting general corporate needs.
The Growing Portfolio
Currently, XOMA holds an impressive and expanding portfolio, consisting of over 70 unique assets. Each asset relates to the right to receive potential future economics tied to various therapeutic candidates in development. This robust set of assets not only illustrates XOMA's investment strategy but also strengthens the biotech industry at large.
Focus on Human Health Innovation
At the core of XOMA's mission is its unwavering dedication to improving human health through biotechnology. The company’s careful selection of investment opportunities aims to foster advancements in medicine and therapeutic options that can improve patient outcomes. As part of its ongoing efforts, XOMA Royalty closely monitors the progress of its portfolio candidates, which include well-known compounds like VABYSMO (faricimab-svoa), OJEMDA (tovorafenib), and many others. These investigational compounds highlight the company's close involvement with developing innovative therapies.
Investor and Media Contact Information
For those seeking additional information, XOMA Royalty provides direct channels to both investor and media contacts:
Investor Contact:Juliane Snowden
XOMA Royalty Corporation
+1 646-438-9754
juliane.snowden@xoma.com
Kathy Vincent
KV Consulting & Management
+1 310-403-8951
kathy@kathyvincent.com
Frequently Asked Questions
What dividends did XOMA Royalty Corporation announce?
XOMA Royalty Corporation announced cash dividends for its Series A and Series B Cumulative Preferred Stockholders.
When will the dividends be paid?
The dividends are expected to be paid on or about October 15, 2024.
How much is the dividend for Series A stockholders?
Holders of the Series A Cumulative Preferred Stock will receive $0.53906 per share.
What funding model does XOMA Royalty use?
XOMA operates as a royalty aggregator, acquiring future revenues from therapeutic candidates to provide funding for biotech companies.
How many assets are included in XOMA's portfolio?
XOMA Royalty boasts a diverse portfolio containing over 70 assets related to various therapeutic developments.
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