“The increase in deferred tax assets during the year ended December 31, 2025 was primarily attributable to capitalized research and development expenditures, including amounts arising from business acquisitions.”10-K · Mar 18, 2026 ↗
XOMA Royalty Corp
XOMA
Market read
XOMA Royalty Corp's current read is isolated; its market group is not confirming.
No new filing conclusion is available. 0 of 70 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 6 directly disclosed connections are confirming.
- XOMA's market-adjusted activity becomes unusual and at least one connected name confirms.
Invalidation: The isolated read changes if XOMA's group or a disclosed connection begins moving with it.
Research brief
The story so far
No new filing conclusion is available. 0 of 70 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 6 directly disclosed connections are confirming.
No thresholded supportive filing evidence is available yet.
No thresholded adverse filing evidence is available yet.
- XOMA's market-adjusted activity becomes unusual and at least one connected name confirms.
Company research
Understand the business, not just the ticker
Use the company’s filings to identify the few operating, demand, cost, capital and regulatory variables that determine its earnings power.
- Which operating variable is changing?
- Is that change durable, cyclical or one-off?
- What evidence would disprove the current interpretation?
- Latest annual revenue changed +55.6% year over year.
- Operating margin changed +711.1 percentage points in the latest annual period.
- Net margin changed +514.2 percentage points in the latest annual period.
- Operating cash flow was only 0.09x net income in the latest annual period.
- EV/sales is 837% above the available filing-peer median; determine whether growth and quality justify the difference.
Price as of Jul 13, 2026
40.17Reported annual revenue and per-share history. This is accounting history, not a forecast.
What management says matters
Persistent and emerging business drivers
“59 Table of Contents The increase of $3.7 million for the three months ended March 31, 2026, as compared to the same period in 2025, was primarily due to increases in salaries and related expenses of $0.9 million, lease expense of $0.6 million, tax services o…”10-Q · May 12, 2026 ↗
Valuation discipline
Descriptive valuation snapshot
Price/sales 69.8× · EV/sales 71.1×. Comparisons use only industry-matched filing peers.
Mechanical 2.0-year scenarios are available as editable assumptions, not consensus.
Price action
How the market is pricing the story
Jodie does not have enough daily observations to draw a useful short-term chart for this asset. The latest quoted price was checked 13 Jul, 15:55 GMT-4; this is a coverage limitation, not a flat-price conclusion.
Developments
No sourced recent-development timeline yet
Jodie has not returned a relevant primary source or news item for XOMA. This is an evidence-coverage gap, not a conclusion that nothing material happened.
Business and financial condition
Reported financial figures are not available yet
Jodie has not returned structured SEC XBRL fundamentals for this asset. This is a coverage limitation, not an assessment of the business or its financial health.
Filing analysis
No comparable filing assessment is available yet
Jodie has not yet found a suitable current-versus-prior filing comparison for XOMA. This does not mean the latest filing was neutral or immaterial.
Business ecosystem
The relationships behind XOMA
Customers, suppliers, partners and competitors named in company filings—not inferred from headlines.
Depends on
TAKTakeda Pharmaceutical Company LimitedpartnerMay 12, 2026 ▾
“In 2006, we collaborated with Takeda to discover and develop antibodies, leading to the joint development of mezagitamab (TAK-079), which leveraged BioInvent's patents and know-how under the BioInvent License Agreement.”
RZLTRezolute, Inc.investeeMar 18, 2026 ▾
“Portfolio Updates Rezolute License Agreement In May 2025, Rezolute dosed the last patient in its first Phase 3 trial of ersodetug (RZ358), and we earned a $5.0 million milestone payment pursuant to our Rezolute License Agreement.”
Depended on by
TWSTTwist Bioscience CorporationinvesteeNov 17, 2025 ▾
“Under the Royalty Purchase Agreement, XOMA Royalty provided Twist Bioscience an upfront payment of $15.0 million in cash in exchange for the right to receive half of the future potential milestone and royalty payments resulting from certain antibody discovery…”
Filing peers
Companies whose filings use similar operating language.
Open the three relationships above to see Jodie’s filing proof. Pro unlocks 3 more links, every receipt, and alerts when connected names begin moving. Unlock the full network →
What is moving around it
Live connections
XOMA is currently a Follower in the organic co-movement group Industrial Metals & Mining. This group is discovered from market behaviour rather than assigned from an industry taxonomy. 3 filing-linked names are in the relationship map; none is currently confirmed as moving with the group.
This group is retained as the last observed read for XOMA; it is not active in the latest market snapshot.
Context history
Theme membership history
No durable theme membership has been observed for this name yet.