XOMA Royalty Corporation Announces Cash Dividends
XOMA Royalty Corporation, which trades on Nasdaq under the ticker XOMA, recently revealed a significant update regarding its quarterly cash dividends. The Board of Directors has officially approved the distribution of dividends to all holders of the Series A and Series B Cumulative Preferred Stock. This decision represents an important milestone for shareholders and underscores XOMA's commitment to delivering value.
Dividend Details for Preferred Stockholders
Investors holding the 8.625% Series A Cumulative Perpetual Preferred Stock (Nasdaq: XOMAP) will receive a cash dividend of $0.53906 per share. Furthermore, those who own depositary shares representing 1/1000 of a share of XOMA’s 8.375% Series B Cumulative Perpetual Preferred Stock (Nasdaq: XOMAO) will receive a cash dividend of $0.52344 for each depositary share they hold. These dividends reflect XOMA’s continuous commitment to rewarding its investors.
Timeline for Dividend Payments
The preferred dividends for this quarter are set to be distributed on or around October 15, 2024. Shareholders who own shares by the close of business on October 3, 2024, will be eligible for this payment. This prompt distribution demonstrates XOMA's dedication to maintaining consistent dividend practices, showcasing its robust financial position.
About XOMA Royalty Corporation
XOMA Royalty operates in the ever-evolving biotechnology sector, supporting biotech companies in their innovative drug development efforts. The company acts as a royalty aggregator, strategically acquiring potential future revenues tied to both pre-commercial therapeutic candidates and licensed commercial assets. This distinctive business model offers non-dilutive funding to sellers, allowing them to focus on developing their drug candidates or addressing corporate needs.
The Growing Portfolio
Right now, XOMA boasts an impressive and expanding portfolio that includes over 70 unique assets. Each asset is linked to the right to receive potential future revenues associated with various therapeutic candidates in development. This extensive collection of assets not only highlights XOMA's investment strategy but also strengthens the biotechnology field as a whole.
Focus on Human Health Innovation
At the heart of XOMA's mission lies a steadfast commitment to enhancing human health through biotechnology. The company meticulously selects investment opportunities designed to drive advancements in medicine and therapeutic solutions, which can lead to better patient outcomes. As part of this effort, XOMA Royalty closely tracks the development of its portfolio candidates, featuring well-known compounds like VABYSMO (faricimab-svoa), OJEMDA (tovorafenib), and more. These investigational compounds showcase the company’s deep involvement in advancing innovative therapies.
Investor and Media Contact Information
If you’re looking for more information, XOMA Royalty provides direct contact information for both investor and media inquiries:
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 holders of Series A and Series B Cumulative Preferred Stock.
When will the dividends be paid?
The dividends are expected to be distributed on or around October 15, 2024.
How much is the dividend for Series A stockholders?
Shareholders 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 has a diverse portfolio comprising over 70 assets related to various therapeutic developments.
