XOMA Royalty Corp.

Ligand Pharmaceuticals completed its acquisition of XOMA Royalty Corp. on July 14, 2026, at $39 per share in cash ($739 million total) plus contingent value rights tied to XOMA's pending litigation against Janssen Biotech. A press release on June 12 created ambiguity about the record date for CVR distribution, leading to trading confusion on July 13, which was later clarified on July 16.