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news.XOMA, a developer of novel antibody therapeutics, has posted total revenues of $15.6m for the first quarter ended 31 March 2011, compared to $7.2m for the same period in 2010.
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The increase in revenues was due to primarily funding from the company’s collaborative partner Les Laboratoires Servier for XOMA 052 development and increased funding under the company’s contracts with the US government for XOMA 3AB development.
The company reported a net loss of $6.34m or $0.22 loss per diluted share, compared to a net loss of $21.79m or $1.36 loss per diluted share, for the same period last year.
Loss from operations was $7.12m, as compared to $15.94m for the same period prior year.
XOMA chairman and CEO Steven Engle said XOMA and Servier plan to initiate a Phase 3 program in Behcet’s uveitis and a Phase 2 program in cardiovascular disease.