EMERYVILLE, Calif. (AP) _ Xoma Corp. (XOMA) on Monday reported first-quarter net income of $3.2 million, after reporting a loss in the same period a year earlier.
The Emeryville, California-based company said it had net income of 21 cents per share.
The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 13 cents per share.
The drug developer posted revenue of $8.1 million in the period.
Xoma shares have climbed roughly 5% since the beginning of the year. In the final minutes of trading on Monday, shares hit $13.23, a decrease of 44% in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on XOMA at https://www.zacks.com/ap/XOMA