XOMA Corporation is an American biotechnology company that discovers and develops human monoclonal antibody-based therapeutics.

According to the law firm press release, the Complaint alleges that throughout the Class Period, Defendants made false and/or misleading statements that XOMA's EYEGUARD-B clinical trial would succeed and/or surpass expectations across the study's primary endpoint. On July 22, 2015, Defendants revealed that the Phase 3 EYEGUARD-B study had failed. On this news, the price of XOMA stock declined by $3.48 per share, or over 79%, on extremely heavy trading volume.

Plaintiffs filed an amended Complaint on July 8, 2016.

On September 28, 2017, the Court issued an Order granting Defendants' Motion to Dismiss with leave to amend. Plaintiffs decided to voluntarily dismiss this action on October 24.