XOMA To Make $1M Milestone Payment To LadRx, Reveals FDA Acceptance Of Zevra's Arimoclomol NDA Filing For Niemann-Pick Disease Type C
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XOMA has disclosed that it will make a $1M milestone payment to LadRx following the FDA's acceptance of Zevra's NDA filing for arimoclomol, a treatment for Niemann-Pick Disease Type C. This follows a June 2023 agreement where XOMA paid LadRx $5M upfront and obtained a mid-single digit royalty on future arimoclomol sales, with the potential for up to $52.6M in additional milestone payments from Zevra.
January 11, 2024 | 9:11 pm
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XOMA will pay LadRx $1M due to FDA acceptance of Zevra's NDA for arimoclomol. The payment is part of a larger agreement that could see XOMA pay up to $52.6M in milestones, plus royalties on sales.
The FDA's acceptance of the NDA filing is a positive regulatory step for XOMA, indicating progress in the development of arimoclomol. The milestone payment signifies a financial commitment but also reflects potential future revenues from royalties. This news is likely to be viewed positively by investors, as it demonstrates advancement in XOMA's partnership with Zevra and the potential for future income streams.
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