Company: XOMAP
Filing Date: 2025-10-03
Form Type: 424B5
Source: 0001193125-25-230393
Chunk: 55

Company: XOMA Royalty Corp
Filing Date: 2025-10-03
Form: 424B5
Chunk 55
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 Global Market under
the symbol “XOMA,” our 8.625% Series A Cumulative Perpetual Preferred Stock is listed on the Nasdaq Global Market under the symbol “XOMAP,” and our depositary shares, each representing a 1/1000 fractional interest in a share of our 8.375% Series B Cumulative Perpetual Preferred Stock, are listed on the Nasdaq Global Market under the symbol “XOMAO.” On March 7, 2024, the last
reported sale price for our common stock was $25.12 per share. We recommend that you obtain current market quotations for our common stock prior to making an investment decision.

Investing in our securities involves a high degree of risk. Before making any investment in our securities, you should consider carefully the risks and uncertainties described in the section entitled “ Risk Factors” beginning on page 4 of this prospectus and any applicable prospectus supplement, and under similar headings in the other documents that are incorporated by reference into this prospectus.

Neither the Securities and Exchange Commission nor any state securities commission has approved or disapproved of these securities or determined if this prospectus is truthful or complete. Any representation to the contrary is a criminal offense.

The date of this prospectus is June 17, 2024

Table of Contents

|                                                   |     | Page |    |
| ABOUT THIS PROSPECTUS                             |     |      |  1 |
| SPECIAL NOTE REGARDING FORWARD LOOKING STATEMENTS |     |      |  2 |
| THE COMPANY                                       |     |      |  3 |
| RISK FACTORS                                      |     |      |  4 |
| USE OF PROCEEDS                                   |     |      |  5 |
| DESCRIPTION OF SECURITIES WE MAY OFFER            |     |      |  6 |
| DESCRIPTION OF CAPITAL STOCK                      |     |      | 10 |
| DESCRIPTION OF DEPOSITARY SHARES                  |     |      | 20 |
| DESCRIPTION OF DEBT SECURITIES                    |     |      | 23 |
| DESCRIPTION OF WARRANTS                           |     |      | 30 |
| DESCRIPTION OF SUBSCRIPTION RIGHTS                |     |      | 32 |
| DESCRIPTION OF CONTINGENT VALUE RIGHTS            |     |      | 34 |
| DESCRIPTION OF ROYALTY CERTIFICATES               |     |      | 35 |
| DESCRIPTION OF UNITS                              |     |      | 36 |
| PLAN OF DISTRIBUTION                              |