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home / news releases / XOMA - XOMA CEO Jim Neal to retire

XOMA - XOMA CEO Jim Neal to retire

XOMA Corporation
XOMA Corporation (NASDAQ:XOMA) appoints CEO Jim Neal as Chairman of the Board, succeeding W. Denman (Denny) Van Ness who will continue as lead independent Director. Mr. Neal will retire from his operational role as CEO at such time as his successor has been appointed. The Company plans to commence a search process led by Mr. Neal. "The portfolio has increased in value with over 25 advancements from one stage of clinical development to the next in the past few years.  Many of these have generated milestone payments to XOMA, including the recent $35M milestone we earned from Novartis upon its initiation of Phase 3 development for NIS793.  Our balance sheet is debt free, and after receiving that Novartis milestone payment, we will have almost $100M in cash.  With this strong foundation firmly established, it is the right time for us to implement a CEO succession plan" said Jim Neal, Chairman and CEO

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XOMA CEO Jim Neal to retire
Stock Information
Company Name: XOMA Corporation
Stock Symbol: XOMA
Market: NASDAQ
Website: xoma.com
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