today that it is hosting a conference call and webcast tomorrow, January 4, at 8:30 AM Eastern time (5:30 AM Pacific time) to provide a business update.
Investors are looking ahead to when Xoma is expected to release interim results from a small, mid-stage study of an experimental diabetes drug, XOMA 052. The company announced late Monday that it will hold a conference call Tuesday morning to provide a business update. Whether or not that includes XOMA 052 data was not disclosed.
Clearly, investors who've been buying the stock in the past week or so believe strongly that the XOMA 052 data will be positive. What's just as clear is that Xoma's entire future rests on the development of XOMA 052, so the bet investors are making is big -- and risky.
XOMA 052 has the potential to be a blockbuster drug because it aims to attack the root cause of diabetes -- the inability of damaged islet cells in the pancreas to produce insulin. All other diabetes drugs either boost insulin production or help the body to be more sensitive to insulin produced naturally. XOMA 052 could also play a meaningful role in other diseases where inflammation is the culprit -- including cardiovascular disease and rheumatoid arthritis.
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