XOMA REPORTS 1992 FIRST QUARTER FINANCIAL RESULTS
XOMA REPORTS 1992 FIRST QUARTER FINANCIAL RESULTS BERKELEY, Calif., April 24 /PRNewswire/ -- XOMA Corp.
(NASDAQ/NMS: XOMA) today announced its financial results for the 1992 first quarter.
For the first quarter ended March 31, 1992, XOMA had revenues of $1.9 million and a net loss of $7.7 million ($0.36 per share). In the comparable 1991 period, XOMA had revenues of $5.1 million and a net loss of $6.6 million ($0.44 per share). The decline in revenues in the 1992 first quarter was due primarily to lower research and development fees from and product sales to Pfizer Inc., the company's marketing partner for its E5(R) anti-endotoxin monoclonal antibody product. At March 31, 1992, XOMA had total assets of $142.9 million including cash and short-term investments of $112.5 million, long-term debt of $1.4 million, and stockholders' equity of $127.2 million. XOMA is a leading biotechnology company in the development of pharmaceutical products based on monoclonal antibody and recombinant DNA technologies. XOMA CORP. Balance Sheet Data (In thousands) March 31, Dec. 31, 1992 1991 Current assets $126,907 $139,495 Total assets 142,917 154,289 Long-term debt 1,391 1,503 Stockholders' equity 127,188 134,456 Statement of Operations Three Months Ended (In thousands except per share data) Mar. 31, 1992 1991 Total revenues $1,946 $5,126 Total operating costs and expenses 11,523 12,095 Other income (expense) 1,885 345 Net loss (7,692) (6,624) Net loss per share (0.36) (0.44) Weighted average common shares outstanding 21,430 14,895 Shares outstanding at March 31, 1992: 21,440,439 -0- 4/24/92 /CONTACT: Carol D. DeGuzman of XOMA Corp., 510-644-1170/ (XOMA) CO: XOMA Corp. ST: California IN: MTC SU: ERN
DG-RM -- SF003 -- 2508 04/24/92 13:27 EDT
|Printer friendly Cite/link Email Feedback|
|Date:||Apr 24, 1992|
|Previous Article:||NICHOLAS DEBENEDICTIS ELECTED PRESIDENT AND CEO OF PHILADELPHIA SUBURBAN|
|Next Article:||FIRST SOUTH SAVINGS, COLUMBIA, S.C., PLACED IN RECEIVERSHIP; DEPOSITS INSURED|