Arimoclomol and Aldoxorubicin Acquisition to Bolster XOMA's Revenue Growth: Analyst
Portfolio Pulse from Vandana Singh
XOMA Corporation acquired royalty and milestone rights for arimoclomol and aldoxorubicin from LadRx Corporation for $5 million. Arimoclomol is expected to file a New Drug Application in Q3 2023, while aldoxorubicin is in Phase 2 development for pancreatic cancer. XOMA will receive royalties and milestone payments for both drugs, potentially totaling $395.6 million.
June 22, 2023 | 7:09 pm
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XOMA's acquisition of royalty and milestone rights for arimoclomol and aldoxorubicin could bolster its revenue growth, with potential total payments of $395.6 million.
The acquisition of royalty and milestone rights for arimoclomol and aldoxorubicin will provide XOMA with additional revenue streams. Arimoclomol is expected to file a New Drug Application in Q3 2023, and aldoxorubicin is in Phase 2 development for pancreatic cancer. XOMA will receive royalties and milestone payments for both drugs, potentially totaling $395.6 million. This could significantly bolster XOMA's revenue growth.
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