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0.0206291591046583 0.0269207501512402 -0.0013793103448276 -0.0118632788868724 -0.00787053841500295 0.00241984271022378 0.00362976406533568 0.0114942528735633
Stock impact report

XBiotech Announces Receipt of $75 Million from Sale of Antibody

XBiotech Inc. (XBIT) 
Last xbiotech inc. earnings: 8/9 03:01 pm Check Earnings Report
US:NASDAQ Investor Relations: xbiotech.com/about/investors.html
Company Research Source: GlobeNewswire
AUSTIN, Texas, June 30, 2021 (GLOBE NEWSWIRE) -- XBiotech (NASDAQ: XBIT) announced today it received $75 million from funds escrowed as part of its December 2019 sale of bermekimab. The True Human™ antibody developed by the company to treat inflammatory disorders, including skin diseases, was sold in a uniquely structured Pharma deal that allowed XBiotech to continue to develop new anti-inflammatory antibodies against the same target. With the receipt of $75 million, XBiotech has now received a total of $750 million pursuant to the deal. XBiotech developed technology to clone monoclonal antibodies from the peripheral blood of humans with natural immunity against diseases. Bermekimab is a naturally occurring antibody capable of neutralizing one of the body’s most potent, and potentially destructive, inflammatory substances. In the sale agreement, XBiotech maintained the right to discover and develop new True Human antibody molecules with similar activity as bermekimab. According to Show less Read more
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