Dallas, Texas 04/16/2014 (FINANCIALSTRENDS) – XOMA Corp (NASDAQ:XOMA) the biotechnology company is now among the movers and shakers on the volume trading sessions at the browsers.
XOMA Corp (NASDAQ:XOMA) had in the last week of February received FDA approval for its orphan drug status – gevokizumab antibody, which is used in the treatment of pyoderma gangrenosum.
A severe skin-related disease, which causes the skin to develop deep ulcers, pyoderma gangrenosum, can now be treated with the help of this drug.
XOMA Corp (NASDAQ:XOMA) has been in the midst of significant turmoil, when its drug gevokizumab was declared as lacking in efficiency for treating arthritis.
This had resulted in continued downgrades by leading analysts, with many of them recommending hold rating.
The Price Target for XOMA has now been lowered to $7. Gevokizumab is current part of Phase 3 trials for various infections such as – treating acute inflammation of the iris, if it is of the non-infectious variety. It has also been subjected to trials for treating other types of vascular structures such as Behcet’s uvelitis.
Clinical trial data was found to be negative with respect to erosive osteoarthritis.
Financial aspects at the stock market
XOMA Corp (NASDAQ:XOMA) has a market capital of $448.89milllion and EPS of -1.38. XOMA trades on the stock market at prices which range between $3.88 and $4.22. It also has a 52 week trading range of $3.02 and $9.57. At the beginning of the trading session, the shares opened at $3.99 closing the day at $4.20. During the last trading session, the stock saw an increase of 6.06%, gaining 0.24.
XOMA Corp (NASDAQ:XOMA) continues to be riding the downward slope with respect to is orphan drug gevokizumab. Therefore, it will now have to be seen for which of the Phase 3 trials it will show positive clinical data or efficacy.
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