VIRX - Xoma is on course for a multi-year high

XOMA Corporation ([[XOMA]] +20.5%) has gained more than a fifth of its value and if the rally holds, the stock could end up with its biggest one-day gain since September 2017.A few days ago, XOMA announced the purchase of potential future milestones and royalties linked to two clinical-stage drug candidates for $13.5M of upfront payments and $20M in a pre-commercialization, event-based milestone.DAY101 (pan-RAF kinase inhibitor) and vosaroxin (topoisomerase II inhibitor) were obtained by Viracta Therapeutics ([[VIRX]] -3.9%) following its merger with Sunesis Pharmaceuticals.XOMA has acquired potential royalty payments related to DAY101 which is advanced by Day One Biopharmaceuticals in pivotal Phase 2 studies in pediatric low-grade glioma.In addition to $57M in regulatory and commercial milestones, Vosaroxin which is being developed by Denovo Biopharma targeting acute myeloid leukemia could generate up to $54M in pre-commercialization, event-based milestones, and high single-digit net royalties on sales.XOMA ended Q4 2020 with $84.2M in cash compared to $56.7M

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Xoma is on course for a multi-year high