AUSTIN, Texas, Oct. 02, 2019 -- XBiotech (NASDAQ: XBIT) announced the first patient was enrolled in a clinical study evaluating bermekimab therapy in adults with systemic.
XBiotech Inc. (XBIT) announced today that it has entered into a definitive agreement with Janssen Biotech, Inc., a Janssen Pharmaceutical Company of Johnson & Johnson, to sell XBiotech’s novel antibody (bermekimab) that neutralizes interleukin-1 alpha (IL-1⍺). Janssen will acquire all rights to bermekimab under the terms of the agreement, and XBiotech will be free to use its True Human Antibody discovery program to develop new antibody therapeutics that target IL-1⍺ to treat non-dermatological diseases.
The following is a roundup of top developments in the biotech space over the last 24 hours: Scaling The Peaks (Biotech stocks that hit 52-week highs on Jan. 14.) Adaptimmune Therapeutics PLC – ADR (NASDAQ: ...
XBiotech Inc. (XBIT) announced today that a novel antibody it has discovered that neutralizes interleukin-1 alpha (IL-1⍺) has now been advanced as a product candidate for clinical and commercial development. XBiotech discovered the IgG1 monoclonal antibody from a healthy donor with natural immunity against IL-1⍺. Creating medicines from natural human immunity is the hallmark of XBiotech’s approach to developing a new generation of breakthrough therapies.
XBiotech Inc. (XBIT) announced today closing of the sale of the Company’s True Human antibody Bermekimab to Janssen Biotech, Inc. (Janssen), a Janssen Pharmaceutical Company of Johnson & Johnson. Upon closing, Janssen paid XBiotech $750 million, with $75 million held in escrow for 18 months. Should Janssen pursue bermekimab indications outside of dermatology, XBiotech could also receive up to $600 million in additional payments upon completion of certain commercialization authorizations.
XBiotech Inc. (XBIT) announced today that the first patient was enrolled in its randomized, double-blind, placebo-controlled Phase 2 clinical study evaluating bermekimab in patients with moderate to severe Hidradenitis Suppurativa (HS). The study is chaired by renowned investigative dermatologist Alice Gottlieb, MD, PhD, Medical Director of dermatology at the Mount Sinai Beth Israel Campus and Clinical Professor at the Icahn School of Medicine at Mount Sinai. The study’s primary endpoint is the percentage of subjects achieving Hidradenitis Suppurativa Clinical Response (HiSCR) at week 12.
XBiotech Inc. (XBIT) announced today that the company was selected for addition to the NASDAQ Biotechnology Index (NASDAQ:NBI). The biotechnology index is classified according to the Industry Classification Benchmark (ICB). Companies in the biotechnology index must meet eligibility requirements, including minimum market capitalization, average daily trading volume, seasoning as a public company, and other criteria.
Based on the preliminary count by American Stock Transfer & Trust Co., LLC, the depositary for the tender offer, a total of 41,164,725 common shares of XBiotech were properly tendered and not properly withdrawn at or below the maximum purchase price of $33.00 per share, including 2,178,233 shares that were tendered by notice of guaranteed delivery. In accordance with the terms and conditions of the tender offer and based on the preliminary count by the depositary, XBiotech expects to accept for payment, at a purchase price of $30.00, approximately 14,000,000 common shares properly tendered at or below the purchase price and not properly withdrawn before the expiration date, at an aggregate cost of approximately $420 million, excluding fees and expenses relating to the tender offer.
Based on the preliminary count by American Stock Transfer & Trust Co., LLC, the depositary for the tender offer, a total of 41,164,725 common shares of XBiotech were properly tendered and not properly withdrawn at or below the maximum purchase price of $33.00 per share, including 2,178,233 shares that were tendered by notice of guaranteed delivery. In accordance with the terms and conditions of the tender offer and based on the preliminary count by the depositary, XBiotech expects to accept for payment, at a purchase price of $30.00, approximately 14,000,000 common shares properly tendered at or below the purchase price and not properly withdrawn before the expiration date, at an aggregate cost of approximately $420 million, excluding fees and expenses relating to the tender offer.
High flying biotechs have been a theme so far in 2020. That’s not surprising, as the share appreciation for these companies has come hand in hand with a potential treatment or vaccination against COVID-19. The uptick in fortune hasn’t applied to XBiotech (XBIT), with the stock down 27% year-to-date.It is worth remembering, though, that XBiotech stock soared by a massive 257% in 2019. Might it do so again this year?Maybe not to such an extent, but one analyst believes the company’s platform to identify COVID-19 neutralizing antibodies is taking it in the right direction.Piper Sandler’s Joseph Catanzaro reiterated an Overweight on XBiotech shares, but has adjusted the price target (on account a recent $420 million tender offering), from $28 to $18. Potential upside from current levels stands at 32%. (To watch Catazaro’s track record, click here)XBiotech recently announced a collaboration with nonprofit BioBridge Global to collect and distribute convalescent plasma from patients who have overcome COVID-19. BioBridge subsidiary QualTex Laboratories will use a clinical test XBiotech has developed to identify naturally occurring neutralizing antibodies against COVID-19. Another BioBridge subsidiary, the South Texas Blood & Tissue Center, will collect the plasma and provide XBiotech with blood samples to use for the development of a True Human antibody therapy for the infection.XBiotech's True Human platform clones human antibody from individual blood donors with natural immunity. Its unique approach to antibody production could potentially improve on current methods of antibody generation.The use of convalescent donor plasma has been receiving a growing amount of attention recently as a possible treatment for COVID-19, in the hope it can boost patients’ ability to fight the virus.There is not enough data available yet on its efficacy, though JAMA (the Journal of the American Medical Association) recently published the results of a small case series of 5 Chinese patients treated with convalescent plasma.“While interpretation of outcomes data is obviously limited by sample size, lack of control and concurrent use of other therapies, 3 of the 5 patients were extubated and discharged following infusion, and 1 patient was removed from ECMO while still intubated,” Said CatanzaroAdditional randomized data available from the treatment of 93 patients in Hong Kong during the H1N1 (swine flu) outbreak showed an improvement in mortality for patients treated with convalescent plasma.No other analysts have published a rating on XBIT over the last 3 months, therefore, Catanzaro’s thesis provides its with a Moderate Buy consensus rating. (See XBiotech stock analysis on TipRanks)
"The global economic environment is very favorable for investors. Economies are generally strong, but not too strong. Employment levels are among the strongest for many decades. Interest rates are paused at very low levels, and the risk of significant increases in the medium term seems low. Financing for transactions is freely available to good borrowers, […]
In September 2018, XBiotech's shares closed as low as $2.31. Now its shares are about $22 and the company is riding high after selling a dermatological drug candidate in a deal that could be worth as much as $1.35 billion. Here's why XBiotech CEO John Simard feels the major milestone is just the beginning.
Small cap stocks are listed companies that have market capitalizations typically ranging from $300 million to $2 billion. Since the share prices of these companies can have big fluctuations over a short period of time, companies with market caps of up to $10 billion are also found in the small cap universe.
AUSTIN, Texas, Nov. 19, 2019 -- XBiotech Inc. (NASDAQ: XBIT) today announces rapid enrollment in its randomized, double-blind, placebo-controlled Phase 2 clinical study.
XBiotech Inc. (XBIT) announced today that human immune donors have now been identified that can support the Company’s development of a True Human™ antibody therapy for COVID-19. XBiotech recently developed and transferred screening technology to South Texas Blood & Tissue Center (STBTC), a blood donor organization, that enables blood donors that have COVID-19 immunity to be identified.
There's no doubt that money can be made by owning shares of unprofitable businesses. For example, XBiotech...
XBiotech Inc. (XBIT) and BioBridge Global today announced their collaboration to participate in a U.S. Food and Drug Administration (FDA) investigational program for U.S. blood centers to begin collecting and distributing convalescent plasma from individuals who have recovered from COVID-19. In working toward a potential treatment for COVID-19 patients, XBiotech has developed a clinical test that QualTex Laboratories, a subsidiary of San Antonio-based nonprofit BioBridge Global, will use to identify natural antibodies present in human blood that work against the virus that causes COVID-19. The testing technology will allow QualTex to identify blood that contains naturally neutralizing antibodies against the virus in patients who have recovered from COVID-19 (convalescent donors).
The Offer is made upon the terms and subject to the conditions described in the offer to purchase and in the related letter of transmittal. The closing price of XBiotech’s common shares on the NASDAQ Global Select Market on January 13, 2020, the last full trading day before the commencement of the Offer, was $18.62 per share.
XBiotech Inc. (XBIT) has enrolled the first patient in a randomized, double-blind, placebo-controlled Phase 2 clinical study to evaluate its IL-1a blocking antibody therapy in patients with moderate to severe Atopic Dermatitis (AD) (also known as Eczema). Chaired by award-winning dermatologist Seth B. Forman, MD, of ForCare Medical Group in Tampa, FL, the study will assess weekly bermekimab therapy to reduce inflammatory skin lesions, itch, and pain in patients suffering from eczema. The study will compare three groups of patients over 16 weeks of treatment: a weekly dosing group, a biweekly dosing group, and a placebo group.
Based on the final count by American Stock Transfer & Trust Co., LLC, the depositary for the tender offer, a total of 40,007,286 common shares, no par value, were properly tendered and not properly withdrawn at or below the maximum purchase price of $33.00 per share. XBiotech has accepted for purchase 14,000,000 common shares at a price of $30.00 per share, for an aggregate cost of approximately $420 million, excluding fees and expenses relating to the tender offer.