XOMA CORPORATION (NASDAQ:XOMA) Files An 8-K Termination of a Material Definitive Agreement
Item1.02
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Termination of a Material Definitive Agreement. |
On April20, 2017, XOMA Corporation (the Company) received notice
from Novo Nordisk A/S, Novo All, Bagsvrd, Denmark (Novo Nordisk)
of Novo Nordisks termination of its Exclusive License Agreement
with the Company (the License Agreement) due to strategic and
business reasons. The termination of the License Agreement will
be effective ninety (90)days from April20, 2017 in accordance
with Section10.2 of the License Agreement.
| Item7.01 | Regulation FD Disclosure. |
Based on the termination of the License Agreement, the Company
updates its prior guidance regarding potential milestone payments
payable under license agreements with various of the Companys
partners over the next 36 months to decrease such guidance from
$50million to $40million. Beginning on April21, 2017, the Company
intends to make available to investors updated presentation
slides regarding its revised guidance. These presentation slides
will be available on the Companys website, www.xoma.com, under
the Investor Relations tab.
XOMA CORPORATION (NASDAQ:XOMA) Recent Trading Information
XOMA CORPORATION (NASDAQ:XOMA) closed its last trading session up +0.26 at 7.73 with 328,287 shares trading hands.