Company: XOMAP
Filing Date: 2025-10-03
Form Type: 424B5
Source: 0001193125-25-230383
Chunk: 85

Company: XOMA Royalty Corp
Filing Date: 2025-10-03
Form: 424B5
Chunk 85
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 the date, if any, on and after which the constituent securities comprising the units will be separately 
 transferable;                                                                                           |

| • |     | a discussion of certain United States federal income tax considerations applicable to the units; and |

| • |     | any other terms of the units and their constituent securities. |

Governing Law Unless we otherwise specify in the applicable prospectus supplement, the units and any unit agreement will be governed by and construed in accordance with the laws of the State of New York. 36

PLAN OF DISTRIBUTION We may sell the securities from time to time pursuant to underwritten public offerings, negotiated transactions, block trades or a combination of these methods. We may sell the securities to or through underwriters or dealers, through agents, or directly to one or more purchasers. 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 under