Xoma: 3Q Earnings Snapshot

EMERYVILLE, Calif. (AP) _ Xoma Corp. (XOMA) on Tuesday reported third-quarter net income of $1.9 million, after reporting a loss in the same period a year earlier.

On a per-share basis, the Emeryville, California-based company said it had profit of 20 cents.

The results topped Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 48 cents per share.

The drug developer posted revenue of $8.9 million in the period.

Xoma shares have climbed 56% since the beginning of the year. The stock has increased 54% in the last 12 months.

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