Company: XOMAP
Filing Date: 2025-10-03
Form Type: 424B5
Source: 0001193125-25-230383
Chunk: 30

Company: XOMA Royalty Corp
Filing Date: 2025-10-03
Form: 424B5
Chunk 30
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Listing on the Nasdaq Global Market

Our Common Stock is listed on the Nasdaq Global Market under the symbol “XOMA,” our Series A Preferred Stock is listed on the Nasdaq Global Market
under the symbol “XOMAP” and our Series B Depositary Shares are listed on the Nasdaq Global Market under the symbol “XOMAO.”

S-23

PLAN OF DISTRIBUTION

We have entered into the Sales Agreement with Leerink Partners, under which we may offer and sell from time to time shares of our Common Stock. Pursuant to
this prospectus supplement, we may offer and sell shares of our Common Stock having an aggregate offering price of up to $75,000,000. Sales of our Common Stock, if any, will be made at market prices by any method that is deemed to be an “at
the market offering” as defined in Rule 415(a)(4) under the Securities Act, including sales made directly on Nasdaq or any other trading market for our Common Stock. The below description of the material provisions of the Sales Agreement does
not purport to be a complete statement of its terms and conditions.

We will designate the maximum amount of Common Stock to be sold through Leerink
Partners on a daily basis or otherwise determine such maximum amount together with Leerink Partners. Subject to the terms and conditions of the Sales Agreement, Leerink Partners will offer our Common Stock on a daily basis or as otherwise agreed
upon by us and Leerink Partners and will use its commercially reasonable efforts to sell on our behalf all of the shares of Common Stock requested to be sold by us. We may instruct Leerink Partners not to sell Common Stock if the sales cannot be
effected at or above the price designated by us in any such instruction. We or Leerink Partners may suspend the offering of our Common Stock being made through Leerink Partners under the Sales Agreement upon proper notice to the other party. We and
Leerink Partners each have the right, by giving written notice as specified in the Sales Agreement, to terminate the Sales Agreement in each party’s sole discretion at any time.

The aggregate compensation payable to Leerink Partners is an amount of up to 3.0% of the aggregate gross sales price of the shares sold through it pursuant to
the Sales Agreement. We have also agreed to reimburse Leerink Partners up to an aggregate of $75,000 of Leerink Partners’ actual outside legal expenses incurred by Leerink Partners in connection with the execution of the Sales Agreement, plus