Company: XOMAP
Filing Date: 2025-10-03
Form Type: 424B5
Source: 0001193125-25-230383
Chunk: 1

Company: XOMA Royalty Corp
Filing Date: 2025-10-03
Form: 424B5
Chunk 1
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| 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 |

ABOUT THIS PROSPECTUS SUPPLEMENT

This document is in two parts. The first part is this prospectus supplement, which describes the terms of this offering of our Common Stock and also adds to,
updates and changes information contained in the accompanying prospectus and the documents incorporated by reference into the accompanying prospectus. The second part is the accompanying prospectus, which provides more general information.
Generally, when we refer to this prospectus, we are referring to both parts of this document combined. To the extent there is a conflict between the information contained in this prospectus supplement, on the one hand, and the information contained
in the accompanying prospectus or in any document incorporated by reference that was filed with the Securities and Exchange Commission (the “SEC”) before the date of this prospectus supplement, on the other hand, you should rely on the
information in this prospectus supplement. If any statement in one of these documents is inconsistent with a statement in another document having a later date—for example, a document incorporated by reference into this prospectus supplement
and the accompanying prospectus—the statement in the document having the later date modifies or supersedes the earlier statement. You should read this prospectus supplement and the accompanying prospectus, including the information
incorporated by reference and any free writing prospectus that we have authorized for use in connection with this offering, in their entirety before making an investment decision.

You should rely only on the information contained in, or incorporated by reference into this prospectus supplement and the accompanying prospectus, along with
the information contained in any free writing prospectus that we have authorized for use in connection with this offering. If the description of the offering varies between this prospectus supplement and the accompanying prospectus, you should