Xoma raises $40M in follow-on

Xoma Corp. (NASDAQ:XOMA) raised $40 million through the sale of 8 million units at $4.94 in a follow-on underwritten by Cowen. Each unit comprises one share and one two-year warrant to purchase one share exercisable at $7.90.

Xoma's gevokizumab ( S 78989, XOMA 052) is in Phase III trials to treat non-infectious uveitis, Behcet's uveitis and pyoderma gangrenosum. ...