Biopharmaceutical company reports net loss in first quarter 2004

For the first quarter of 2004, the company recorded a net loss of $20.2 million or $0.24 per share compared with $13.1 million or $0.18 per share for the first quarter of 2003. As of March 31, 2004, Xoma held $79.0 million in cash, cash equivalents, and short-term investments, compared with $85.2 million at December 31, 2003.

Total revenues for the first quarter of 2004 were $0.2 million compared with $3.2 million in the first quarter of 2003. The 2003 figure included license fees from several bacterial cell expression technology license arrangements, as well as revenue derived...

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