UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION

                             Washington, D.C. 20549

                                    FORM 8-K

                                 CURRENT REPORT

                     Pursuant to Section 13 or 15(d) of the
                         Securities Exchange Act of 1934

       Date of Report (Date of Earliest Event Reported): August 13, 1997

                            XOMA CORPORATION
             (Exact name of registrant as specified in its charter)

                                Delaware
                 (State or other jurisdiction of incorporation)


                0-14710                             94-2756657
     (Commission File Number)            (IRS Employer Identification No.)

     2910 Seventh Street, Berkeley, California                  94710
      (Address of principal executive offices)               (Zip code)

       Registrant's telephone number, including area code (510) 644-1170

                                      None
          (Former name or former address, if changed since last report)






Item 5.  Other Events

                  On August 14, 1997, XOMA Corporation issued the announcement
attached hereto as Exhibit 1, which is incorporated herein by reference.

Item 7.  Exhibits

1.       Press Release dated August 14, 1997

2.       Certificate of Designation of Convertible Preferred Stock, Series G

3.       Form of Common Stock Purchase Warrant

4.       Form of Convertible Preferred Stock Purchase Agreement by and
         between XOMA Corporation and the purchasers of Series G Preferred Stock

5.       Form of Registration Rights Agreement by and between XOMA Corporation
         and the purchasers of Series G Preferred Stock







                                    SIGNATURE



                  Pursuant to the requirements of the Securities Exchange Act of
1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned hereunto duly authorized.

Dated:  August 18, 1997             XOMA CORPORATION




                                       By:/s/ Peter B. Davis
                                         -------------------------------------
                                          Peter B. Davis
                                          Vice President, Finance and
                                          Chief Financial Officer






                                  EXHIBIT INDEX


Number Description

1.   Press Release dated August 14, 1997

2.   Certificate of Designation of Convertible Preferred Stock, Series G

3.   Form of Common Stock Purchase Warrant

4.   Form of Convertible Preferred Stock Purchase Agreement by and between
     XOMA Corporation and the purchasers of Series G Preferred Stock

5.   Form of Registration Rights Agreement by and between XOMA Corporation and
     the purchasers of Series G Preferred Stock