SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
SCHEDULE 13D
(Rule 13d-102)
INFORMATION TO BE INCLUDED IN STATEMENTS
FILED PURSUANT
TO RULE 13d-l(a) AND AMENDMENTS THERETO
FILED PURSUANT
TO RULE 13d-2(a)
(Amendment No. 12)*
XOMA Corporation
(Name of Issuer)
Common Stock, par value $0.0075 per
share
(Title of Class
of Securities)
98419J107
(CUSIP number)
Alexandra A. Toohey
Chief Financial Officer
Baker Bros. Advisors LP
667 Madison Avenue,
21st Floor
New York, NY 10065
(212) 339-5690
(Name, address and telephone number of
person authorized to receive notices and communications)
July 22, 2015
(Date of event which requires filing of
this statement)
If the
filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D,
and is filing this schedule because of Rule 13d-1(e), 13d-1(f) or 13d-1(g), check the following box ¨.
(Continued on the following pages)
(Page 1 of 8 Pages)
*The remainder of this cover page
shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities,
and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.
The information required on the remainder of this cover page
shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 or otherwise
subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act.
|
1.
|
NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Baker Bros. Advisors LP
13-4093645
|
|
2.
|
CHECK
THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a)
¨
(b)
¨ |
|
3.
|
SEC USE ONLY
|
|
4.
|
SOURCE OF FUNDS*
OO
|
|
5.
|
CHECK
BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) or 2(e) o
|
|
6.
|
CITIZENSHIP OR PLACE
OF ORGANIZATION
Delaware
|
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY EACH
REPORTING
PERSON WITH |
7. |
SOLE VOTING POWER:
6,192,811 (1)
|
|
8.
|
SHARED VOTING POWER: 0
|
|
9.
|
SOLE DISPOSITIVE POWER: 6,192,811 (1)
|
|
10.
|
SHARED DISPOSITIVE POWER: 0
|
|
11.
|
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON:
6,192,811 (1)
|
|
12.
|
CHECK
BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* ¨
|
|
13.
|
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
4.99% (2)
|
|
14.
|
TYPE OF REPORTING PERSON*
IA, PN |
| |
|
|
|
(1) Includes 48,811 shares of the Issuer’s
common stock underlying 48,811 options, 14,000 shares of the Issuer’s common stock underlying 14,000 restricted stock units,
and 7,575,759 shares of the Issuer’s common stock issuable based upon exercise of warrants to purchase common stock at an
exercise price of $1.76 per share expiring March 9, 2017 (exercise subject to the limitations described in Item 5) directly held.
(See Item 5 for additional information).
(2) Based on 117,815,481 shares of the
Issuer’s common stock outstanding as of May 5, 2015, as reported in the Issuer’s Prospectus filed with the SEC on May
7, 2015.
|
1.
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NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Baker Bros. Advisors (GP) LLC
46-3147749
|
|
2.
|
CHECK
THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a)
¨
(b)
¨ |
|
3.
|
SEC USE ONLY
|
|
4.
|
SOURCE OF FUNDS*
OO
|
|
5.
|
CHECK
BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) or 2(e) o
|
|
6.
|
CITIZENSHIP OR PLACE
OF ORGANIZATION
Delaware
|
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY EACH
REPORTING
PERSON WITH |
7.
|
SOLE VOTING POWER: 6,192,811
(1)
|
|
8.
|
SHARED VOTING POWER: 0
|
|
9.
|
SOLE DISPOSITIVE POWER: 6,192,811 (1)
|
|
10.
|
SHARED DISPOSITIVE POWER: 0
|
|
11.
|
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON:
6,192,811 (1)
|
|
12.
|
CHECK
BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* ¨
|
|
13.
|
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
4.99% (2)
|
|
14.
|
TYPE OF REPORTING PERSON*
HC, OO |
| |
|
|
|
(1) Includes 48,811 shares of the Issuer’s
common stock underlying 48,811 options, 14,000 shares of the Issuer’s common stock underlying 14,000 restricted stock units,
and 7,575,759 shares of the Issuer’s common stock issuable based upon exercise of warrants to purchase common stock at an
exercise price of $1.76 per share expiring March 9, 2017 (exercise subject to the limitations described in Item 5) directly held.
(See Item 5 for additional information). The number outside the parenthesis gives effect to the blocker provisions contained in
the warrants to purchase common stock which limits our ability to exercise these warrants up to the Maximum Percentage (as defined
below).
(2) Based on 117,815,481 shares of the
Issuer’s common stock outstanding as of May 5, 2015, as reported in the Issuer’s Prospectus filed with the SEC on May
7, 2015.
|
1.
|
NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Julian C. Baker
|
|
2.
|
CHECK
THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a)
¨
(b)
¨ |
|
3.
|
SEC USE ONLY
|
|
4.
|
SOURCE OF FUNDS*
OO
|
|
5.
|
CHECK
BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) or 2(e) o
|
|
6.
|
CITIZENSHIP OR PLACE
OF ORGANIZATION
United States
|
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY EACH
REPORTING
PERSON WITH |
7.
|
SOLE VOTING POWER: 6,192,811
(1)
|
|
8.
|
SHARED VOTING POWER 0
|
|
9.
|
SOLE DISPOSITIVE POWER: 6,192,811 (1)
|
|
10.
|
SHARED DISPOSITIVE POWER: 0
|
|
11.
|
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON:
6,192,811 (1)
|
|
12.
|
CHECK
BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* ¨
|
|
13.
|
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
4.99% (2)
|
|
14.
|
TYPE OF REPORTING PERSON*
IN, HC |
| |
|
|
|
(1) Includes 48,811 shares of the Issuer’s
common stock underlying 48,811 options, 14,000 shares of the Issuer’s common stock underlying 14,000 restricted stock units,
and 7,575,759 shares of the Issuer’s common stock issuable based upon exercise of warrants to purchase common stock at an
exercise price of $1.76 per share expiring March 9, 2017 (exercise subject to the limitations described in Item 5) directly held.
(See Item 5 for additional information).
(2) Based on 117,815,481 shares of the
Issuer’s common stock outstanding as of May 5, 2015, as reported in the Issuer’s Prospectus filed with the SEC on May
7, 2015.
|
1.
|
NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Felix J. Baker
|
|
2.
|
CHECK
THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a)
¨
(b)
¨ |
|
3. |
SEC USE ONLY
|
|
4.
|
SOURCE OF FUNDS*
OO
|
|
5.
|
CHECK
BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) or 2(e) o
|
|
6.
|
CITIZENSHIP OR PLACE
OF ORGANIZATION
United States
|
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY EACH
REPORTING
PERSON WITH |
7.
|
SOLE VOTING POWER: 6,192,811
(1)
|
|
8.
|
SHARED VOTING POWER: 0
|
|
9.
|
SOLE DISPOSITIVE POWER: 6,192,811 (1)
|
|
10.
|
SHARED DISPOSITIVE POWER: 0
|
|
11.
|
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON:
6,192,811 (1)
|
|
12.
|
CHECK
BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* ¨
|
|
13.
|
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
4.99% (2)
|
|
14.
|
TYPE OF REPORTING PERSON*
IN, HC |
| |
|
|
|
(1) Includes 48,811 shares of the Issuer’s
common stock underlying 48,811 options, 14,000 shares of the Issuer’s common stock underlying 14,000 restricted stock units,
and 7,575,759 shares of the Issuer’s common stock issuable based upon exercise of warrants to purchase common stock at an
exercise price of $1.76 per share expiring March 9, 2017 (exercise subject to the limitations described in Item 5) directly held.
(See Item 5 for additional information).
(2) Based on 117,815,481 shares of the
Issuer’s common stock outstanding as of May 5, 2015, as reported in the Issuer’s Prospectus filed with the SEC on May
7, 2015.
Amendment No. 12 to Schedule 13D
This Amendment No. 12 to Schedule 13D amends and supplements
the previously filed Schedules 13D filed by Julian C. Baker, Felix J. Baker, Baker Bros. Advisors LP (the “Adviser”)
and Baker Bros. Advisors (GP) LLC (the “Adviser GP”). Except as supplemented herein, such statements, as heretofore
amended and supplemented, remain in full force and effect.
ITEM
4. Purpose of Transactions.
Item
4 of Schedule 13D is supplemented and amended, as the case may be, as follows:
The
disclosure in Item 3 above is incorporated herein by reference.
The
Reporting Persons continuously assess the Issuer’s business, financial condition, results of operations and prospects, general
economic conditions, other developments and additional investment opportunities. The Reporting Persons or their affiliates may
dispose of additional securities or purchase securities in varying amounts and at varying times depending upon the Reporting Persons’
continuing assessments of pertinent factors, including the availability of shares of common stock or other securities for purchase
at particular price levels, the business prospects of the Issuer, other business investment opportunities, economic conditions,
stock market conditions, money market conditions, the attitudes and actions of the board of directors and management of the Issuer,
the availability and nature of opportunities to dispose of shares in the Issuer and other plans and requirements of the particular
entities.
Except
as set forth herein, the Reporting Persons do not have present plans or proposals at this time that relate to or would result
in any of the transactions described in subparagraphs (a) through (j) of Schedule 13D.
Item 5. Interest in Securities of the Issuer.
(a) and (b) Items 7 through 11 and 13 of each of the cover pages
of this Amendment No. 12 are incorporated herein by reference. Set forth below is the aggregate number of shares of common stock
of the Issuer directly held by each of Baker Brothers Life Sciences, L.P. (“Life Sciences”), 14159, L.P. (“14159”),
and 667, L.P. (“667”, and together with Life Sciences and 14159, the “Funds”), which may be deemed to be
indirectly beneficially owned by the Reporting Persons, as well as shares that may be acquired upon exercise of warrants at an
exercise price of $1.76 per share as of the date hereof by the Funds, subject to the limitations on exercise described below.
| Holder |
Warrants exercisable
at $1.76 expiring
March 9, 2017 as
converted to common
stock (only a portion
are currently
exercisable due to
the limitations on
exercise as
described below) |
| 667, L.P. |
792,796 |
| Baker Brothers Life Sciences, L.P. |
6,608,225 |
| 14159, L.P. |
174,738 |
| Total |
7,575,759 |
Pursuant to the Warrant to Purchase Common Stock dated March
9, 2012 (the “Warrant”), if at any time the common stock ownership of the Funds and their affiliates is reduced to
4.99% or less of the shares of common stock outstanding, then the number of shares of common stock that may be acquired by the
Funds and their affiliates upon any exercise of the Warrant will be limited to the extent necessary to ensure that, following such
exercise, the total number of shares of common stock then beneficially owned by the Funds and their affiliates does not exceed
4.99% (the “Maximum Percentage”) of the total number of then issued and outstanding shares of common stock (including
for such purpose the shares of common stock issuable upon the exercise of the Warrant). The Funds may, by written notice to the
Issuer, from time to time increase or decrease the Maximum Percentage to any other percentage not in excess of 9.99% specified
in such notice. Pursuant to the Warrant, any such increase will not be effective until the 61st day after such notice is delivered
to the Issuer. This provision set forth in the Warrant will cease to apply from and after the date 14 days prior to the fifth anniversary
of the issuance date, which was March 9, 2012.
The Adviser GP, Felix J. Baker and Julian C. Baker as principals
of the Adviser GP, and the Adviser may be deemed to be beneficial owners of securities of the Issuer directly held by the Funds,
and each may be deemed to have the sole power to vote or direct the vote of and the power to dispose or direct the disposition
of such securities.
The Reporting Persons disclaim beneficial ownership of the securities
held by each of the Funds, and this Amendment No. 12 shall not be deemed an admission that the Reporting Persons are the beneficial
owners of such securities for purposes of Section 13(d) or for any other purpose.
Dr. Neu, an employee of the Adviser, was previously a Director
of the Issuer. He ceased to be a Director of the Issuer on May 20, 2015 by not standing for re-election to the Issuer’s
Board (“Service Termination Date”). In connection with his previous service on the Issuer’s Board, he holds Restricted
Stock, Stock Options and other restricted stock units and options to purchase common stock of the Issuer held by Dr. Neu previously
disclosed in amendments to this Schedule 13D. The previously disclosed Stock Options and Restrictred stock ceased vesting on the
Service Termination Date. As of the date of the Service Termination Date Dr. Neu held 48,811 in total, 21,911 of which are exercisable
at $3.53 per share and expire November 20, 2015, 11,600 of which are exercisable at 4.13 per share and expire August 20, 2015,
10,633 of which are exercisable at $3.87 per share and expire August 20, 2015 and 4,667 of which are exercisable at $4.73 and expire
on August 20, 2015.
Dr. Neu previously served on the Issuer’s Board as representatives
of the Funds. The policy of the Funds and the Adviser does not permit employees of the Adviser to receive compensation for serving
as directors of the Issuer. Therefore, Dr. Neu has no pecuniary interest in the Restricted Stock, Stock Options and other restricted
stock units and options to purchase common stock of the Issuer held by Dr. Neu previously disclosed in amendments to this Schedule
13D. The Funds are instead entitled to the pecuniary interest in the Restricted Stock, Stock Options and other restricted stock
units and options to purchase common stock of the Issuer held by Dr. Neu previously disclosed in amendments to this Schedule 13D.
The Adviser has voting and investment power over the Restricted
Stock, Stock Options and other restricted stock units and options to purchase common stock of the Issuer held by Dr. Neu previously
disclosed in amendments to this Schedule 13D.
The Adviser GP, and Felix J. Baker and Julian
C. Baker as principals of the Adviser GP, may be deemed to have the power to vote or direct the vote of and the power to dispose
or direct the disposition of the Restricted Stock, Stock Options and other restricted stock units and options to purchase common
stock of the Issuer held by Dr. Neu previously disclosed in amendments to this Schedule 13D.
(c)
The following transactions in the Issuer’s Common Stock were effected by the Funds noted below during the sixty days preceding
and including the filing of this statement. All transactions were effected in the open market directly with a broker-dealer
pursuant to the Registration Statement. Except as disclosed herein or in any previous amendments to this Schedule 13D, none of
the Reporting Persons or their affiliates has effected any other transactions in securities of the Issuer during the past 60 days.
| Name |
Date |
Number of Shares |
Transaction |
Price
per Share |
Footnotes |
| 667, L.P. |
7/22/2015 |
(1,359,253) |
Ordinary Brokerage Sale |
1.0925 |
1 |
| Baker Brothers Life Sciences, L.P. |
7/22/2015 |
(9,411,311) |
Ordinary Brokerage Sale |
1.0925 |
1 |
| 14159, L.P. |
7/22/2015 |
(229,436) |
Ordinary Brokerage Sale |
1.0925 |
1 |
| 667, L.P. |
7/23/2015 |
(453,436) |
Ordinary Brokerage Sale |
1.0125 |
2 |
| Baker Brothers Life Sciences, L.P. |
7/23/2015 |
(3,139,539) |
Ordinary Brokerage Sale |
1.0125 |
2 |
| 14159, L.P. |
7/23/2015 |
(76,538) |
Ordinary Brokerage Sale |
1.0125 |
2 |
| (1) | The reported price is a weighted average price. These shares were traded in multiple transactions at prices ranging from $0.83
to $1.41. The Reporting Persons undertake to provide the staff of the Securities and Exchange Commission (the “Staff”),
upon request, full information regarding the number of shares traded at each separate price within the ranges set forth in this
footnote. |
| (2) | The reported price is a weighted average price. These shares were traded in multiple transactions at prices ranging from $1.00
to $1.12. The Reporting Persons undertake to provide the Staff, upon request, full information regarding the number of shares traded
at each separate price within the ranges set forth in this footnote. |
(d) Certain securities of the Issuer are
held directly by 667, a limited partnership the sole general partner of which is Baker Biotech Capital, L.P., a limited partnership
the sole general partner of which is Baker Biotech Capital (GP), LLC. Julian C. Baker and Felix J. Baker are the controlling members
of Baker Biotech Capital (GP), LLC.
Certain securities of the Issuer are held directly by Life Sciences,
a limited partnership the sole general partner of which is Baker Brothers Life Sciences Capital, L.P., a limited partnership the
sole general partner of which is Baker Brothers Life Sciences Capital (GP), LLC. Julian C. Baker and Felix J. Baker are the controlling
members of Baker Brothers Life Sciences Capital (GP), LLC.
Certain securities of the Issuer are held directly by 14159,
a limited partnership the sole general partner of which is 14159 Capital, L.P., a limited partnership the sole general partner
of which is 14159 Capital (GP), LLC. Julian C. Baker and Felix J. Baker are the controlling members of 14159 Capital (GP), LLC.
| (e) The Reporting Persons ceased to beneficial owners of more than 5% of the Issuer’s common stock on July 22, 2015. |
SIGNATURE
After reasonable inquiry and to the best of my knowledge and
belief, I certify that the information set forth in this statement is true, complete and correct.
July 23, 2015
| |
BAKER BROS. ADVISORS LP
By: Baker Bros. Advisors (GP) LLC, its general partner |
| |
|
|
| |
By: |
/s/ Scott L. Lessing |
| |
|
Name: Scott L. Lessing
Title: President |
| |
BAKER BROS. ADVISORS (GP) LLC |
| |
|
|
| |
By: |
/s/ Scott L. Lessing |
| |
|
Name: Scott L. Lessing
Title: President |
| |
/s/ Julian C. Baker |
| |
Julian C. Baker |
| |
|
| |
/s/ Felix J. Baker |
| |
Felix J. Baker |
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