Stock Monitor: Anavex Life Sciences Post Earnings Reporting

LONDON, UK / ACCESSWIRE / December 19, 2017 / Active-Investors free earnings report on XOMA Corp. (NASDAQ: XOMA) has freshly been issued to its members, and you can also sign up to view this report at www.active-investors.com/registration-sg/?symbol=XOMA. The Company posted its financial results on November 06, 2017, for the third quarter fiscal 2017. The biotech Company's revenue and adjusted EPS surpassed analysts' expectations. Register today and get free access to our complimentary member's area where many more reports are available:

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Active-Investors.com is currently working on the research report for Anavex Life Sciences Corp. (NASDAQ: AVXL), which also belongs to the Healthcare sector as the Company XOMA Corp.. Do not miss out and become a member today for free to access this upcoming report at:

www.active-investors.com/registration-sg/?symbol=AVXL

Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, XOMA most recent news is on our radar and we have decided to include it on our blog post. Today's free coverage is available at:

www.active-investors.com/registration-sg/?symbol=XOMA

Earnings Highlights and Summary

For three months ended September 30, 2017, XOMA's total revenues increased 5597.6% to $36.18 million from $635,000 in Q3 FY16. The increase was due to payments received relating to the Company's license agreements with Novartis in August 2017. The Company's total revenue surpassed analysts' expectations of $0.7 million.

For the reported quarter, the Company's License and collaborative fees revenue was $36.07 million compared to 430,000 in Q3 FY16. For the reported quarter, the Company's corporate and other revenue was $115,000, compared to 205,000 in Q3 FY16.

During Q3 FY17, XOMA granted Novartis a license to its intellectual property covering the use of IL-1 beta targeting antibodies in the treatment of cardiovascular disease.

During Q3 FY17, the Company entered into new non-exclusive license agreements with three separate companies, Tizona Therapeutics, Inc., Torch Biosciences, Inc., and LakePharma, for use of XOMA's proprietary phage display libraries for antibody discovery.

During Q3 FY17, the Company earned a $3 million milestone payment related to the clinical advancement of an anti-botulism product candidate the Company licensed to Nanotherapeutics, Inc., in 2015.

For the reported quarter, the Company's research and development (R&D) expenses decreased 96.5% to $307,000 from $8.67 million in Q3 FY16. The decrease was due to reductions of $3.5 million in salaries and related expenses; $1.8 million in external manufacturing activities; $1.2 million in the allocation of facilities and information technology costs; $0.9 million in clinical trial costs; and $0.4 million in consulting costs. During Q3 FY17, XOMA's general and administrative (G&A) expenses increased 79.3% to $7.26 million from $4.05 million in the same period last year.

During Q3 FY17, XOMA's operating income was $28.65 million compared to operating loss of $12.09 million in the same period last year.

During Q3 FY17, XOMA's earnings before tax (EBT) was positive $28.05 million compared to negative $12.53 million in the same period last year.

For the reported quarter, XOMA's net income was $16.42 million compared to net loss of $12.53 million in Q3 FY16. During Q3 FY17, the Company's diluted EPS was positive $1.98 compared to negative $2.08 in the same period last year. Diluted earnings per share (EPS) surpassed analysts' expectations of negative $0.81.

Balance Sheet

As on September 30, 2017, XOMA's cash and cash equivalents increased 85.5% to $47.75 million from $25.74 million on December 31, 2016.

For the reported quarter, the Company's net trade and other receivables increased 82% to $1.03 million from $566,000 in Q4 FY16. For the reported quarter, the Company's accounts payable and accrued expenses decreased 28.8% to $4.05 million from $5.69 million in the fourth quarter of 2016.

In the first nine months of 2017, the Company's cash provided by operating activities was positive $7.91 million compared to negative $40.69 million in the same period last year.

Stock Performance Snapshot

December 18, 2017 - At Monday's closing bell, XOMA's stock rose 1.29%, ending the trading session at $32.29.

Volume traded for the day: 143.97 thousand shares.

Stock performance in the last month ? up 23.01%; previous three-month period ? up 70.04%; past twelve-month period ? up 456.72%; and year-to-date ? up 665.17%

After yesterday's close, XOMA's market cap was at $260.58 million.

The stock is part of the Healthcare sector, categorized under the Biotechnology industry. This sector was up 0.1% at the end of the session.

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