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2025 Letter to Stockholders

Through both good and bad markets, our goal at XOMA Royalty is to remain focused on generating value for shareholders through solid execution, wise capital deployment, and deal creativity. As we look to the remainder of 2025 and beyond, we believe we have established a solid foundation for future growth.

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2024 Letter to Shareholders

We made good progress over the course of 2023 towards advancing the company’s differentiated royalty business model. As is the case with any emerging biotech portfolio, there were both positive and negative developments, although many of our key near-term drivers of value remain intact.

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