XOMA price target raised to $10 from $8 at Canaccord Canaccord raised its price target for XOMA shares to $10 from $8 despite the erosive osteoarthritis of the hand trial failure. The firm said the setting was never part of its model and that its raised target reflects the pyoderma gangrenosum data. Canaccord reiterates a Buy rating on XOMA.
XOMA raises $40M in a registered direct offering XOMA (XOMA), announced today the pricing of 8,097,165 shares of its common stock and accompanying warrants to purchase one share of common stock for each share purchased at a price to the public of $4.94. The warrants are exercisable at an exercise price of $7.90 per share beginning on the date of issuance and will expire on the second anniversary of the date of issuance. Cowen and Company is acting as the sole placement agent.