Xoma to sell stock to pay for clinical trials, layoff costs

Xoma Corp. will sell an undisclosed amount of its common stock and warrants, the Berkeley antibody drug developer said Monday.
Xoma (NASDAQ: XOMA) will use money from the sale to fund a shotgun full of clinical trials -- not including a late-stage trial tied to a drug it bought in January -- as well as to cover costs related to recent layoffs and to continue its preclinical programs.