Sales of all products that Xoma recieves a royalty on have been reported by collaboration partners. We are expected total royalty revenues for the fourth quarter 2007 of $4.9 million. This is up slightly from our previous forecast of $4.7 million thanks to stronger international sales of both Raptiva and Lucentis. Xoma is expected to report fourth quarter results on March 11, 2008. We are forecasting total revenues for the quarter of $13.2 million (consensus is $12.1 million) and EPS of -$0.10 (consensus is -$0.12). Xoma remains significantly under-valued in our view. We maintain our Buy rating and have established a $5 target. Zacks