XOMA Corp (NASDAQ:XOMA), a leader in the discovery and development of therapeutic antibodies, announced today it has initiated its Phase 2 proof-of-concept study for XOMA 213. XOMA 213 (formerly referred to as LFA102) is a monoclonal antibody that neutralizes prolactin induced signaling. Prolactin is a protein that in normal post-partum females enables the production of milk. In some cases, including prolactinomas, which are benign tumors of the pituitary gland in both men and women, excess secretion can lead to various clinically significant abnormal signs and symptoms.
The open-label, mechanism of action, single-dose, multi-center study is designed to evaluate two dose levels of XOMA 213 in up to 35 subjects and confirm its ability to curtail prolactin signaling. The study will take place in Spain and safety will be monitored throughout.
“By initiating this mechanism of action study for XOMA 213, we bring a second endocrine-focused asset into mid-stage development,” said Paul Rubin, M.D., Senior Vice President, Research and Development, and Chief Medical Officer at XOMA. “Prolactinomas, which are benign tumors of the pituitary gland, have serious medical consequences, particularly infertility and osteoporosis. Ten to twenty percent of patients do not respond to or are intolerant of current standard of care medications. Based upon the results from this proof-of-concept study, we will be able to determine the value of further developing this antibody for treating patients with symptomatic hyperprolactinemia.” (Original Source)
Shares of Xoma are currently trading at $0.49, up $0.039 or 8.77%. XOMA has a 1-year high of $4.93 and a 1-year low of $0.45. The stock’s 50-day moving average is $0.65 and its 200-day moving average is $0.87.
On the ratings front, Xoma has been the subject of a number of recent research reports. In a report issued on May 4, Cowen analyst Phil Nadeau reiterated a Hold rating on XOMA. Separately, on March 11, Wedbush’s Liana Moussatos reiterated a Buy rating on the stock and has a price target of $3.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Phil Nadeau and Liana Moussatos have a total average return of -3.9% and 0.6% respectively. Nadeau has a success rate of 32.0% and is ranked #3437 out of 3967 analysts, while Moussatos has a success rate of 30.8% and is ranked #1633.
XOMA Corp. is a development stage biotechnology company. It engages in the provision of discovering and developing antibody-based therapeutics. The company was founded by Patrick J. Scannon in 1981 and is headquartered in Berkeley, CA.