Company: XOMAP
Filing Date: 2025-10-03
Form Type: 424B5
Source: 0001193125-25-230393
Chunk: 105

Company: XOMA Royalty Corp
Filing Date: 2025-10-03
Form: 424B5
Chunk 105
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 We may distribute securities from time to time in one or more transactions:

| • |     | at a fixed price or prices, which may be changed; |

| • |     | at market prices prevailing at the time of sale; |

| • |     | at prices related to such prevailing market prices; or |

| • |     | at negotiated prices. |

We may also sell equity securities covered by this registration statement in an “at the market offering” as defined in Rule 415(a)(4) under the Securities Act. Such offering may be made into an existing trading market for such securities in transactions at other than a fixed price, either:

| • |     | on or through the facilities of The Nasdaq Global Market or any other securities exchange or quotation or trading 
 service on which such securities may be listed, quoted or traded at the time of sale; and/or                      |

| • |     | to or through a market maker otherwise than on The Nasdaq Global Market or such other securities exchanges or 
 quotation or trading services.                                                                                |

Such at the market offerings, if any, may be conducted by underwriters acting as principal or agent. A prospectus supplement or supplements (and any related free writing prospectus that we may authorize to be provided to you) will describe the terms of the offering of the securities, including, to the extent applicable:

| • |     | the name or names of any underwriters, dealers or agents, if any; |

| • |     | the purchase price of the securities and the proceeds we will receive from the sale; |

| • |     | any options under which underwriters may purchase additional securities from us; |

| • |     | any agency fees or underwriting discounts and other items constituting agents’ or underwriters’ 
 compensation;                                                                                   |

| • |     | any public offering price; |

| • |     | any discounts or concessions allowed or re-allowed or paid to dealers; 
 and                                                                    |

| • |     | any securities exchange or market on which the securities may be listed. |

Only underwriters named in the prospectus supplement are underwriters of the securities offered by the prospectus supplement. If underwriters are used in the sale, they will acquire the securities for their own account and may resell the securities from time to time in one or more transactions at a fixed public offering price or at varying prices determined at the time of sale. The obligations of the underwriters to purchase the securities will be subject to the conditions set forth in