The price of the Morphoysis license with Xoma is more than $3 million. The $3 million represents the final payment in stock for a deal made back in Feb. The income was accounted for in current income and defered income. It is not possible to determine the exact amount but it was probably closer to $6 million than $3.
Revenues for the first quarter of 2002 increased to $9.2 million from $2.9 million in the first quarter of 2001. The increase reflected higher contract revenues
primarily from our collaborative arrangement with Onyx, as well as higher license fees. The increase in license fees reflected an agreement entered into in
February of this year granting MorphoSys AG a license to use XOMA’s antibody expression technology for developing antibodies using MorphoSys’
phage-display based antibody library.
XOMA Ltd.
CONDENSED CONSOLIDATED BALANCE SHEETS
(in thousands)
March 31, December 31,
2002 2001
(Unaudited) (Note
Liabilities and Shareholders Equity:
Deferred revenue – current 4,084 5,017
________ ________
Total current liabilities 20,897 18,645
Deferred revenue – long term 1,100 1,470
________
Total Liabilities 75,470 72,488
Stockholders equity 8,502 13,619
________ ________
$ 83,972 $ 86,107
Note the increase in license fees refered to in this text. " The increase in license fees reflected an agreement entered into in
February of this year granting MorphoSys AG a license to use XOMA’s antibody expression technology for developing antibodies using MorphoSys’
phage-display based antibody library." Also note the defered income.
Xoma now owns a small piece of phage related products developed by Dompe, Dyax, Biosite, and Morphosys. Probably will add others to this group.
XOMA Ltd.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(unaudited - in thousands except per share data)
Three Months Ended
March 31,
2002 2001
Revenues:
License and collaborative fees $ 6,313 $ 1,015
License and collaborative fees 2,909 1,841
________ ________
9,222 2,856
________ ________ |
