Xoma closes tender offer for Turnstone Biologics
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Aug 11 2025
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Tender Offer Completion: XOMA Royalty successfully completed its tender offer to acquire all outstanding shares of Turnstone Biologics for $0.34 per share in cash, with 17,192,002 shares tendered, representing approximately 74% of Turnstone's outstanding shares.
Merger and Delisting: Following the tender offer, Turnstone was merged into XRA 3 Corp., becoming a wholly owned subsidiary of XOMA Royalty, and its shares will cease trading on Nasdaq and be delisted.
Analyst Views on XOMA
Wall Street analysts forecast XOMA stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for XOMA is 69.67 USD with a low forecast of 50.00 USD and a high forecast of 104.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
4 Analyst Rating
3 Buy
1 Hold
0 Sell
Strong Buy
Current: 28.790
Low
50.00
Averages
69.67
High
104.00
Current: 28.790
Low
50.00
Averages
69.67
High
104.00
About XOMA
XOMA Royalty Corporation is a biotechnology royalty aggregator. The Company’s royalty aggregator business is primarily focused on early to mid-stage clinical assets, primarily in Phase I and II, with significant commercial sales potential that are licensed to funded partners. The Company has a portfolio of economic rights and royalty payments associated with partnered commercial and pre-commercial therapeutic candidates. The Company's commercial assets include OJEMDA (tovorafenib), IXINITY, XACIATO, VABYSMO (faricimab svoa), DSUVIA (sufentanil sublingual tablet), and MIPLYFFA (arimoclomol). Its Phase III assets include Rilvegostomig (AZD2936), Ficlatuzumab (AV-299), Ovaprene, D-Fi (FCX-007), Seralutinib, Cetrelimab (JNJ-63723283), Ersodetug (RZ358), and Mezagitamab (TAK-079). Its Phase II assets include Acimtamig (AFM13), AFM24, Vosaroxin, Aldoxorubicin, G03-52-01, PBF-680, PBF-677, Vidutolimod (CMP-001), and RZ-402. Its others assets include COM902 and MT-0169.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
