had a wider-than-expected loss in the third quarter but had higher revenue, thanks to a one-time license termination settlement.
Xoma shares were up 27 cents, or about 4%, to $6.97.
The Berkeley, Calif.-based company lost $9.9 million, or 13 cents a share, on revenue of $12.3 million, compared with a loss of $12.3 million, or 17 cents a share, on sales of $4.3 million a year ago. Analysts polled by whomson First Call expected a loss of 11 cents a share on revenue of about $10 million.
Xoma benefited from a $10 million fee from
relating to a pediatric drug the companies will no longer be co-developing.
The company reiterated that it expects full-year losses to widen in 2003 because of increased research and development expenses and marketing costs related to its recently approved drug Raptiva.
Analysts expect Xoma to lose 67 cents a share on revenue of $22 million this year, vs. 47 cents a share and sales of $30 million in 2002.
Xoma's stock is up 50% this year but is off its 52-week high of $10.70.