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Xoma beats 3Q profit forecasts

BERKELEY, Calif. (AP) _ Xoma Corp. (XOMA) on Monday reported third-quarter net income of $26.3 million, after reporting a loss in the same period a year earlier.

The Berkeley, California-based company said it had net income of $1.98 per share.

The results topped Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 81 cents per share.

The drug developer posted revenue of $36.2 million in the period.

Xoma shares have climbed fivefold since the beginning of the year. In the final minutes of trading on Monday, shares hit $23.32, more than quadrupling in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on XOMA at https://www.zacks.com/ap/XOMA


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