I realize that you view such news through rose colored glasses, but your statement
BUT they are SAYING VERY
PUBLICLY that they ANTICIPATE approval!
is off the mark. From today's press release:
The proposed change, made in anticipation of possible future approvals and commercialization of NEUPREX(R) and other products, will
allow XOMA to take advantage of certain tax and other benefits not available under the current corporate structure. The transaction will
be tax free to XOMA's stockholders, and is expected to have little or no tax cost to the Company. It will have no impact on XOMA's
operations in Berkeley and Santa Monica.
"If we succeed with NEUPREX(R), we anticipate a significant portion of our future revenue will originate outside the United States," said
Jack Castello, XOMA's Chairman, President and Chief Executive Officer. "Therefore, we believe that establishing an appropriate
corporate structure now may significantly reduce our long-term effective income tax rate and provide other benefits, such as facilitating
collaborations and partnerships. At the same time, we have an unusual combination of financial circumstances that lets us implement this
change with little or no tax cost to the Company, and none to our stockholders."
Get a grip.
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