XOMA - XOMA: A Royalty Aggregator To Watch

• XOMA has built a large portfolio of drug royalties, over 65, with the potential to build a biotechnology business with high upside but limited and diversified downside protection.
• This royalty aggregator model has the potential to build a substantial balance sheet for XOMA, which will lower the company's cost-of-capital and enable it to build an even larger portfolio.
• Recent catalysts from deals with Agenus and Novartis have driven the stock price higher. XOMA is a stock to monitor.
• Entry points become available as XOMA's portfolio grows larger and its existing assets achieve more clinical milestones.

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