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NEW YORK (TheStreet) -- XOMA (XOMA) - Get Free Report shares are up by 6.33% to $3.53 in trading on Thursday, after the drug manufacturer announced that the required number of events to analyze its Phase 3 EYEGUARD-B study of its Behcet's disease treatment candidate gevokizumab have been reached.

Behcet's disease causes chronic inflammation of blood vessels resulting in painful ulcers in the mouth and on the genitals and could eventually lead to blindness if left untreated. The disease is mostly found across Asia with 15,000 individuals in the U.S. also having the disease.

Gevokizumab is an antibody treatment that has the potential to treat patients with a wide variety of inflammatory diseases.

The treatment showed significant potential versus a placebo when used in conjunction with other treatments, according to XOMA.

TheStreet Ratings team rates XOMA CORP as a Sell with a ratings score of D-. TheStreet Ratings Team has this to say about their recommendation:

"We rate XOMA CORP (XOMA) a SELL. This is driven by a number of negative factors, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its unimpressive growth in net income and generally disappointing historical performance in the stock itself."

Highlights from the analysis by TheStreet Ratings Team goes as follows:

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