XOMA Corp. (NASDAQ:XOMA) Confirmed the Uptrend with a Spike

[[tagnumber 0]]Shares of XOMA Corp. (NASDAQ:XOMA) spiked up in the last trading session, just three days before the scheduled release of the company‘s latest quarter report. According to the recent news from the company, it looks like traders are expecting some positive data and acting in advance which could mean a sudden negative correction after the report actually comes out.[[tagnumber 1]] [[tagnumber 0]][[tagnumber 3]][[tagnumber 1]] [[tagnumber 0]]Yesterday, XOMA closed the market with a 22.13% gain at $1.49 for a share. The trading volume was also much higher than normally, yet just a small part of the six–month record number of traded shares in a day back in July. From a technical point of view, the chart looks promising for even more gains before the earnings release, yet it is questionable how long the uptrend will resist.[[tagnumber 1]] [[tagnumber 0]]XOMA had at the end of the previous quarter over $32 million in long–term debt and nega[[tagnumber 8]]tive shareholders‘ equity of over $30 million. Operational results also did not suggest that the trend of making huge losses and negative operating cashflows would reverse any soon. Yet, in the last few weeks the company released some news that were encouraging for traders.[[tagnumber 1]] [[tagnumber 0]]At the end of September, the company entered into a license agreement with Novartis International Pharmaceutical Ltd. for the worldwide royalty bearing license for XOMA‘s anti–transforming growth factor beta antibody program. Under the agreement, XOMA will receive a $37 million upfront payment and will be entitled to receive up to $480 million upon achievement of certain development and commercial milestones. There will also be royalties on any future sales of licensed products.[[tagnumber 1]] [[tagnumber 0]]A week ago, the company also announced the initiation of a Phase 2 proof–of–concept study for its XOMA 358 which will be tested for safety and ability to prevent hypoglycemia in patients with a rare genetic disorder called hyperinsulinism.[[tagnumber 1]] [[tagnumber 14]] [[tagnumber 1]]