Company: XOMAP
Filing Date: 2025-10-03
Form Type: 424B5
Source: 0001193125-25-230383
Chunk: 36

Company: XOMA Royalty Corp
Filing Date: 2025-10-03
Form: 424B5
Chunk 36
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                                   |     |      |  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                              |     |      | 37 |
| LEGAL MATTERS                                     |     |      | 39 |
| EXPERTS                                           |     |      | 40 |
| WHERE YOU CAN FIND ADDITIONAL INFORMATION         |     |      | 41 |
| INCORPORATION OF CERTAIN INFORMATION BY REFERENCE |     |      | 42 |

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ABOUT THIS PROSPECTUS

This prospectus is part of a registration statement on Form S-3 that we filed with the Securities and Exchange
Commission (the “SEC” or the “Commission”) utilizing a “shelf” registration process. Under this shelf registration process, we may sell any combination of the securities described in this prospectus in one or more
offerings up to a total dollar amount of $200,000,000. This prospectus only provides you with a general description of the securities we may offer.

Each
time we sell securities under this prospectus, we will provide a prospectus supplement that will contain specific information about the terms of that offering. We may also authorize one or more free writing prospectuses to be provided to you that
may contain material information relating to these offerings. The prospectus supplement and any related free writing prospectus that we may authorize to be provided to you may also add, update or change information contained in this prospectus or in
any documents that we have incorporated by reference into this prospectus. You should carefully read both this prospectus and any prospectus supplement together with additional information under the headings “Where You Can Find Additional
Information” and “Incorporation of Certain Information by Reference.”

We have not authorized anyone to provide you with any information
other than that contained or incorporated by reference in this prospect