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XOMA Corporation Spikes on Price Offering

  +Follow August 22, 2013 12:48PM
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Biotech company XOMA Corporation ($XOMA) announced the price of their common stock offering on Thursday that sent the price of shares on an upward trajectory.

XOMA is offering 7.6 million shares at $3.62 a share, which should net the company around $25.5 million. Also, the company is allowing underwriters a 30 day option on an additional 1.14 million shares.

The Berkeley, Ca.-based biotech firm's flagship drug (and focus of principal reserach) is called gevokizumab. The drug is a humanized monoclonal antibody which is used primarily in the treatment of diabetes. On July 22 the drug entered Phase 2 of the approval process. Gevokizumab is also currently in phase III development for treating non-infectious uveitis and Behçet’s uveitis, which are multiskeletal inflammatory disorders.

On Aug. 7, the company reported a 21 cent per-share loss for the second quarter of 2013, missing revenue estimates by 21 percent. XOMA’s stock dropped precipitously on the news, losing around 20 percent of its value. In March, the stock was thought to be the most undervalued biomed stock under $10.

XOMA is down 20.27 percent on the month, hurt by the lagging earnings for the second quarter. But with Thursday's offering, the stock shot up 11.17 percent to hit $4.47 a share.

(image courtesy of Wikimedia Commons)

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of equities.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions.


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Results for XOMA
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27 Nov 14 15:41:17
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27 Nov 14 12:13:36
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27 Nov 14 12:11:28
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27 Nov 14 12:02:15
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27 Nov 14 12:02:14
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27 Nov 14 12:02:14
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27 Nov 14 12:01:58
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27 Nov 14 12:01:58
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27 Nov 14 12:01:58
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27 Nov 14 12:01:40
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HedgeBound
27 Nov 14 10:08:40
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Nelly36
27 Nov 14 08:37:43
@cuzmane I am surprised that $XOMA isn't in your watchlist.
frank kolnacki
27 Nov 14 08:32:46
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kenr0966
27 Nov 14 08:28:51
RT @BiotechMoney18: $XOMA if u replaced "X" for "C" u would get COMA. All pump stock will end badly. The retailers usually the one get hurt…
$$$ Money $$$
27 Nov 14 08:27:53
$XOMA if u replaced "X" for "C" u would get COMA. All pump stock will end badly. The retailers usually the one get hurt the most. Just sayin
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27 Nov 14 07:09:54
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iHangout
27 Nov 14 06:38:39
Jake13: $XOMA Xoma Ltd: XOMA Stock year to date has changed -15.30% http://t.co/aXZL1s5qjB
Jake13
27 Nov 14 06:20:13
XOMA Year to date has changed -15.30% percent. +32.56% in the last 30 days. $XOMA Xoma Ltd Full breakdown Last http://t.co/0esbYXFPoX
Jake13
27 Nov 14 06:19:51
$XOMA XOMA Stock year to date has changed -15.30% percent. +32.56% in the last 30 days. $XOMA Xoma Ltd Full breakdow http://t.co/G0hQCtaKWl
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27 Nov 14 05:35:38
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27 Nov 14 05:33:39
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27 Nov 14 05:32:59
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27 Nov 14 05:30:52
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27 Nov 14 05:30:21
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27 Nov 14 05:29:27
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27 Nov 14 05:27:27
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chartguy89
27 Nov 14 05:27:12
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27 Nov 14 02:55:21
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27 Nov 14 01:48:02
RT @Sstmec: $XOMA rumors confirmed ceo and management do not support gay marriage also very few gay lesbian transgendered are hired by them…
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27 Nov 14 01:13:15
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27 Nov 14 01:01:55
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SH
27 Nov 14 00:44:30
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Joshua Payne
26 Nov 14 22:41:56
RT @Sstmec: $XOMA many top analysts say this stock sucks a big one also it's mean to squeezer Shorty during the season of god and Jesus PAN…
Joshua Payne
26 Nov 14 22:30:09
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David
26 Nov 14 22:01:46
RT @shaneblackmon: $XOMA FYI no position, but with data being pushed back, their cash position is dwindling. My math says YE cash of $40-45…
CFO
26 Nov 14 21:58:22
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CFO
26 Nov 14 21:52:26
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CFO
26 Nov 14 21:42:33
$XOMA rumors confirmed ceo and management do not support gay marriage also very few gay lesbian transgendered are hired by them PANIC SELL
				
				
  +Follow August 22, 2013 12:48PM
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