XOMA Receives $8.1 Million Milestone Related to Day One Biopharmaceuticals' Sale of its Priority Review Voucher [Yahoo! Finance]
Viracta Therapeutics, Inc. (VIRX)
Company Research
Source: Yahoo! Finance
an $8.1 million milestone payment from Viracta Therapeutics, Inc., related to Day One Biopharmaceuticals' recent sale of its Priority Review Voucher (PRV) for $108 million to an undisclosed buyer. “OJEMDA™ offers patients six months of age and older who have relapsed or refractory BRAF-altered pediatric low-grade glioma (pLGG) the only approved therapy studied in and approved specifically for pLGG driven by BRAF fusions,” stated Owen Hughes, Chief Executive Officer of XOMA. “With this milestone in hand, we have more than recouped our initial capital outlay. And importantly, we anticipate future royalties on OJEMDA™ will contribute to a growing portfolio of royalty receipts that will help us drive sustainable free cash flow generation over time.” In March 2021, XOMA paid $13.5 million upfront to acquire up to $54 million in potential milestones and mid-single digit royalties associated with OJEMDA™ (tovorafenib), as well as economics associated with vosaroxin, from Viracta Therapeu
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