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XOMA Corporation Message Board

  • whatilearn1234 whatilearn1234 Jan 17, 2011 6:48 AM Flag

    Can someone please tell me this information?

     

    When will 15 million dollar up front fee be counted in XOMA corp.'s income statement?

    This coming quarter? or other time?

    Correct response appreciated.

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    • It depends on the wording of the contract. If the money is free of strings, meaning that Xoma has done everything that needs to be done to be entitled to the money, then the earning process is complete and the fee will be reported as revenue in this period. If there is further work that needs to be done before the entitlement to the payment vests, then all or a portion of that will be deferred to those events have been completed.

      I suspect that the initial $15MM has no material contingencies attached and will be recognized immediately.

 
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