Piper Jaffray analyst Edward Tenthoff lowered his price target for XOMA to 85c after removing gevokizumab from his model. The company has cash through Q1 of 2017 and a sale of gevokizumab could extend the runway further, Tenthoff tells investors in a post-earnings research note. He keeps a Neutral rating on XOMA following the company's Q4 results.

XOMA Corporation (XOMA) announced it has earned a $9 million milestone related to the U.S. Food and Drug Administration's, FDA, approval of Day One Biopharmaceuticals' (DAWN) New Drug Application, NDA, for OJEMDA for the treatment of patients 6 months of age and older with relapsed or refractory pediatric low-grade glioma harboring a BRAF fusion or rearrangement, or BRAF V600 mutation. "This is an important milestone for XOMA and our royalty portfolio, but more importantly, it is a watershed event for children living with low-grade gliomas with BRAF alterations that have relapsed or progressed," stated Owen Hughes, Chief Executive Officer of XOMA. In March 2021, XOMA paid $13.5 million upfront to acquire the $54 million in potential milestones and mid-single digit royalties associated with tovorafenib, plus a share of potential event-based economics, in addition to the economics associated with vosaroxin, from Viracta Therapeutics