Why XOMA Stock Is Trading Higher Wednesday?
- XOMA Corporation (NASDAQ: XOMA) stock is trading higher during the morning session on robust volume after the FDA granted an Orphan drug tag to NIS793 for pancreatic cancer.
- Under the terms of the 2015 agreement between XOMA and Novartis AG (NYSE: AG), XOMA can earn up to $445 million in additional milestone payments.
- Yesterday, Novartis released the press release for NIS793 Orphan Drug Designation.
- Price Action: XOMA shares are up 11.6% at $37.39 during the market session on the last check Wednesday.
- Related content: Benzinga's Full FDA Calendar.
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