Company: XOMAP
Filing Date: 2025-10-03
Form Type: 424B5
Source: 0001193125-25-230383
Chunk: 9

Company: XOMA Royalty Corp
Filing Date: 2025-10-03
Form: 424B5
Chunk 9
---
 herein and therein, that include forward-looking statements.

S-8

USE OF PROCEEDS

We may issue and sell shares of our Common Stock having aggregate sales proceeds of up to $75 million from time to time. Because there is no minimum
offering amount required as a condition to this offering, the actual total public offering amount, commissions and proceeds to us, if any, are not determinable at this time. There can be no assurance that we will sell any shares under or fully
utilize the Sales Agreement with Leerink Partners as a source of financing.

We will retain broad discretion over the use of the net proceeds from the
sale of the securities offered hereby. Except as described in any related free writing prospectus that we may authorize to be provided to you, we currently intend to use the net proceeds from the sale of the securities offered hereby to acquire
additional potential royalty and milestone revenue streams, for working capital and other general corporate purposes. As of the date of this prospectus supplement, we cannot predict with certainty all of the particular uses for the proceeds to be
received from the sale of the securities offered hereby or the amounts that we will actually spend on the uses set forth above.

Pending the use of the
net proceeds, we intend to invest the net proceeds primarily in government securities and short-term, interest-bearing securities.

S-9

DILUTION Our net tangible book value as of June 30, 2025 was approximately $47.0 million, or $3.90 per share (based on 12,062,466 shares of our Common Stock outstanding). Net tangible book value per share is determined by dividing our total tangible assets, less total liabilities, by the number of shares of our Common Stock outstanding as of June 30, 2025. Dilution with respect to net tangible book value per share represents the difference between the amount per share paid by purchasers of shares of Common Stock in this offering and the net tangible book value per share of our Common Stock immediately after this offering. After giving effect to the assumed sale of 1,911,802 shares of our Common Stock in this offering at an assumed offering price of $39.23 per share, the last reported sale price of our Common Stock on the Nasdaq Global Market on October 1, 2025, and after deducting estimated offering commissions and estimated offering expenses payable by us, our as adjusted net tangible book value as of June 30, 2025 would have been approximately $119.8 million, or $