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Xoma

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Executive Summary

Reducing workforce by 85 employees and taking a one-time charge of approximately $10 mil. in its third quarter, as part of a restructuring announced Oct. 29. "Due to the delays we have encountered with E5 and CD5 Plus, we are refocusing and streamlining our organization," CEO Jack Castello explained. Xoma will "emphasize" the development of human bactericidal/permeability increasing (BPI) protein-based products for infections and T-cell targeted products for autoimmune disease, while continuing the clinical development of E5 for gram- negative sepsis and CD5 Plus solely for graft-versus-host-disease.

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