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XOMA REPORTS SECOND QUARTER FINANCIAL RESULTS

 BERKELEY, Calif., July 28 /PRNewswire/ -- XOMA Corp. (NASDAQ-NMS: XOMA) today announced its financial results for the 1993 second quarter.
 For the quarter ended June 30, 1993, XOMA had revenues of $147,000 and a net loss of $8.5 million (40 cents per share). In the comparable 1992 period, XOMA has revenues of $1.9 million and a net loss of $11.5 million (54 cents per share). Included in the 1992 loss was a one-time, non-cash charge of $3.3 million related to settlement of securities class action lawsuits filed against the company in 1991. The decline in revenues in 1993 was due primarily to reduced research and development fees from Pfizer Inc., XOMA's marketing partner for its E5(R) anti-endotoxin monoclonal antibody product, and from Ortho Biotech Inc., the company's marketing partner for its CD5 Plus(TM) product.
 At June 30, 1993, XOMA had total assets of $91.7 million, including cash and short-term investments of $67.2 million and stockholders' equity of $75.9 million.
 During the quarter, XOMA issued warrants to purchase 2.2 million shares of the company's common stock at an exercise price of $7.26 per share. The warrants were issued in partial settlement of securities litigation filed against the company in 1991.
 XOMA is a biotechnology company engaged in the development of pharmaceutical products based on recombinant DNA and other technologies for the targeted treatment of infectious and immune system diseases and other serious disorders.
 XOMA CORP.
 June 30, Dec. 31,
 Balance Sheet Data 1993 1992
 (In thousands)
 Current assets $73,199 $ 90,638
 Total assets 91,720 109,269
 Non-current liabilities 9,911 10,919
 Stockholders' equity 75,867 88,473
 Statement of Operations Data 3 months ended 6 months ended
 (In thousands, except per- June 30, June 30,
 share data) 1993 1992 1993 1992
 Total revenues $ 147 $ 1,864 $ 441 $ 3,810
 Total operating costs &
 expenses 9,413 11,400 18,086 22,923
 Other income 775 1,276 1,897 3,161
 Litigation settlement -0- 3,250 -0- 3,250
 Net loss $(8,491) $(11,510) $(15,748) $(19,202)
 Net loss per share $ (0.40) $ (0.54) $ (0.73) $ (0.90)
 Weighted average common
 shares outstanding 21,470 21,445 21,470 21,437
 -0- 7/28/93
 /CONTACT: Carol D. DeGuzman of XOMA, 510-644-1170/
 (XOMA)


CO: XOMA Corp. ST: California IN: MTC SU: ERN

TM-GT -- SF002 -- 6798 07/28/93 14:13 EDT
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Publication:PR Newswire
Date:Jul 28, 1993
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