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BREAKING: XOMA Halted- News Pending

Xoma (NASDAQ: XOMA) is halted for news pending. Xoma Corporation is an $875 million biotech company that trades about 2.2 million shares daily. Today, the stock was up about 6 percent on higher than usual volume.

From the press release:

XOMA Corporation (XOMA), a leader in the discovery and development of therapeutic antibodies, provided an update on its gevokizumab development program. Based on results from the Company’s Phase 2 program in patients with erosive osteoarthritis of the hand (EOA), XOMA does not intend to launch pivotal development for the broad EOA indication. The Company will conduct a review of the full dataset to determine if there is a segment of the patient population that best responds to gevokizumab therapy prior to initiating any potential additional clinical studies in this indication. Gevokizumab appeared to be well tolerated, and the most common adverse events were comparable between both the gevokizumab and placebo groups. XOMA will continue to focus its efforts on completing the EYEGUARD(TM) Phase 3 clinical program, preparing to initiate its Phase 3 program in patients with pyoderma gangrenosum (PG), and assessing gevokizumab in pilot studies of other rare diseases that are in need of new therapeutic options.

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