Xoma to pay $1M to LadRx as rare disease therapy undergoes FDA review

JHVEPhoto/iStock Editorial via Getty Images Xoma Corporation ( NASDAQ: XOMA ) announced it would pay $1M in milestone payments to LadRx Corporation ( OTCQB:LADX ) after the U.S. FDA accepted the marketing application for the rare disease therapy arimoclomol. Jointly developed by Zevra Therapeutics ( ZVRA ) and Immunity Bio ( IBRX ), the oral treatment targets patients with Niemann Pick disease type C, an ultra rare neurodegenerative disorder.

The payment follows XOMA's decision in June to buy royalty and milestone rights linked to arimoclomol from LadRx ( OTCQB:LADX ). On Monday, Zevra ( ZVRA ), which added arimoclomol following an asset purchase agreement with the drug's previous owner, Orphazyme( OTC:ORPHY ) ( OTC:OZYMD ), announced that the FDA accepted its New Drug Application (NDA) for arimoclomol.

The FDA has assigned June 21, 2024 as the PDUFA action date and intends to hold an advisory committee meeting to arrive at its decision. More on LadRx, XOMA, etc. XOMA Preferreds: I Upped My Rating On One Preferred Stock To A Buy Xoma appoints Owen Hughes as CEO, Jack Wyszomierski as chairman XOMA gets $5M milestone upon FDA's acceptance of Day One's Tovorafenib NDA Financial information for LadRx Corporation Seeking Alpha’s Quant Rating on XOMA.