XBiotech Announces Receipt of $75 Million from Sale of Antibody
XBiotech Inc. (XBIT)
Last xbiotech inc. earnings: 8/9 03:01 pm
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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
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News
- XBiotech Inc.'s (NASDAQ:XBIT) top owners are retail investors with 44% stake, while 44% is held by insiders [Yahoo! Finance]Yahoo! Finance
- XBiotech Inc. (NASDAQ: XBIT) is now covered by analysts at StockNews.com. They set a "sell" rating on the stock.MarketBeat
- XBiotech Inc. (NASDAQ: XBIT) is now covered by analysts at StockNews.com. They set a "sell" rating on the stock.MarketBeat
- XBiotech Inc. (NASDAQ: XBIT) is now covered by analysts at StockNews.com. They set a "sell" rating on the stock.MarketBeat
- XBiotech Inc. (NASDAQ: XBIT) is now covered by analysts at StockNews.com. They set a "sell" rating on the stock.MarketBeat
XBIT
Sec Filings
- 3/15/24 - Form 10-K
- 2/7/24 - Form SC
- 2/7/24 - Form SC
- XBIT's page on the SEC website