XBIT XBiotech Inc.

14.64
-0.26  -2%
Previous Close 14.9
Open 14.9
52 Week Low 6.84
52 Week High 26.4
Market Cap $422,406,851
Shares 28,852,927
Float 14,135,771
Enterprise Value $188,368,612
Volume 111,854
Av. Daily Volume 193,163
Stock charts supplied by TradingView

Latest News

  1. Donors with Potent Natural Immunity Against the Virus are Identified as the Starting Point for XBiotech's Drug Development Program to Treat COVID-19

    AUSTIN, Texas, May 01, 2020 (GLOBE NEWSWIRE) -- XBiotech Inc. (NASDAQ: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. In collaboration with STBTC, XBiotech scientists have been searching for ideal blood donors with strong natural immunity to COVID-19 to begin its True Human™…

    Donors with Potent Natural Immunity Against the Virus are Identified as the Starting Point for XBiotech's Drug Development Program to Treat COVID-19

    AUSTIN, Texas, May 01, 2020 (GLOBE NEWSWIRE) -- XBiotech Inc. (NASDAQ: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. In collaboration with STBTC, XBiotech scientists have been searching for ideal blood donors with strong natural immunity to COVID-19 to begin its True Human™ antibody discovery process.

    XBiotech scientists have focused their search to find blood donors that have both very high levels of antibodies against COVID-19 and at the same time do not have a history of a serious illness from the virus. XBiotech believes that individuals with evidence of a vigorous antibody response against COVID-19 in the absence of a history of serious illness are ideal for identifying antibodies that could serve as a powerful therapy against the virus. XBiotech scientists are now receiving these exclusive blood samples from STBTC and have begun its proprietary discovery process to isolate the unique genetic information or genes responsible for producing the antibodies in the donors.

    "There is no other research or pharmaceutical organization better prepared with the technology and capabilities of XBiotech to identify and develop antibody therapies derived from natural human immunity" commented John Simard, XBiotech's CEO. He further stated, "The COVID-19 crisis brings into sharp relief the unique position of XBiotech to address existing and emerging unmet medical needs for infectious diseases."

    About XBiotech
    XBiotech is a fully integrated, global biopharmaceutical company dedicated to pioneering the discovery, development and commercialization of therapeutic antibodies. XBiotech currently is advancing a pipeline of therapies by harnessing naturally occurring antibodies from patients with immunity to certain diseases. Utilizing natural human immunity as a source of new medicines offers the potential to redefine the standards of care for a wide range of diseases.

    On December 30, 2019 XBiotech sold an IL-1⍺ blocking True Human™ antibody that had been used successfully in a number of clinical trials. The sale of the antibody generated $750 million in upfront cash and up to $600 million in potential milestone payments. The Company retained the right to pursue the development of True Human™ antibodies targeting IL-1⍺ for all areas of medicine outside of dermatology. While the Company previously was focused on a single True Human™ antibody targeting IL-1⍺, it now plans to develop multiple product candidates, which will target IL-1⍺ in specific areas of medicine.

    In addition to recent sale of its anti-IL-1⍺ antibody, XBiotech now has other revenue sources. Commencing January 1, 2020 XBiotech began using its proprietary manufacturing technology to produce clinical drug product for a major Pharmaceutical Company under a two-year supply agreement. In addition, XBiotech is providing clinical trial contract research operations to conduct two large, double-blind placebo-controlled Phase II clinical studies. The financial strength generated from the sale and contract operations is enabling XBiotech to expand both its anti-IL-1⍺ product development and infectious disease programs.

    To accelerate advance of the Company's pipeline, the Company is expanding its existing manufacturing and research center, and planning to build an additional 30,000ft2 infectious disease research & development center on its 48-acre property in Austin, TX which is wholly owned by the Company. The expansion and new building will be in addition to the present custom-built 33,000ft2 combined manufacturing and R&D facility that currently exists on the campus. XBiotech owns the 48-acre campus—and all structures on the property—debt-free and envisions further expansion of facilities. For more information, visit www.xbiotech.com

    About True Human™ Therapeutic Antibodies
    XBiotech's True Human™ antibodies are the only available antibodies derived without modification from humans who possess natural immunity to certain diseases. (Unlike all commercially available antibodies, which are called "Humanized" or "Fully Human," XBiotech's True Human™ antibodies are directly sourced from the natural human immune response for specific diseases without modification.) XBiotech's True Human™ antibodies have the potential to harness the body's natural immunity to fight disease with unprecedented safety, efficacy, and tolerability.

    Cautionary Note on Forward-Looking Statements
    This press release contains forward-looking statements, including declarations regarding management's beliefs and expectations that involve substantial risks and uncertainties. In some cases, you can identify forward-looking statements by terminology such as "may," "will," "should," "would," "could," "expects," "plans," "contemplate," "anticipates," "believes," "estimates," "predicts," "projects," "intend" or "continue" or the negative of such terms or other comparable terminology, although not all forward-looking statements contain these identifying words. Forward-looking statements are subject to inherent risks and uncertainties in predicting future results and conditions that could cause the actual results to differ materially from those projected in these forward-looking statements. These risks and uncertainties are subject to the disclosures set forth in the "Risk Factors" section of certain of our SEC filings. Forward-looking statements are not guarantees of future performance, and our actual results of operations, financial condition and liquidity, and the development of the industry in which we operate, may differ materially from the forward-looking statements contained in this press release. Any forward-looking statements that we make in this press release speak only as of the date of this press release. We assume no obligation to update our forward-looking statements whether as a result of new information, future events or otherwise, after the date of this press release.

    Contact XBiotech
    Ashley Otero

    512-386-2930

    Primary Logo

    View Full Article Hide Full Article
  2. AUSTIN, Texas, April 14, 2020 (GLOBE NEWSWIRE) -- XBiotech Inc. (NASDAQ: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 recently sold an IL-1⍺ blocking True Human™ antibody, which it had used successfully in a number of clinical trials, for $750 million in upfront cash and up to $600 million in potential milestone payments. As part of the sale…

    AUSTIN, Texas, April 14, 2020 (GLOBE NEWSWIRE) -- XBiotech Inc. (NASDAQ: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 recently sold an IL-1⍺ blocking True Human™ antibody, which it had used successfully in a number of clinical trials, for $750 million in upfront cash and up to $600 million in potential milestone payments. As part of the sale, XBiotech agreed not to develop or market anti-IL-1⍺ antibody treatments for dermatological diseases. However, the Company retained the right to pursue the discovery and development of new True Human™ antibodies targeting IL-1⍺ for areas of medicine outside of dermatology.

    The Company believes that the potential unmet medical need for blocking inflammation through neutralizing IL-1⍺ is unprecedented. IL-1⍺ is produced naturally by the body and is present on cells such as platelets or white blood cells and can be released from dead or injured cells. When not properly controlled, or in situations of traumatic or sustained injury, inflammation caused by IL-1⍺ is believed to contribute to the progression of serious illnesses. IL-1⍺ is believed to play a role in stroke, heart attack, cancer and rheumatological diseases, among others. Clinical studies conducted by XBiotech and a myriad of scientific research have shown that blocking IL-1⍺ may have a beneficial effect in numerous medical conditions.

    With the discovery, the Company is on schedule to reenter the clinic with a new anti-IL-1⍺ therapy in 2021. Since there is such vast potential for anti-IL-1⍺ therapy in multiple areas of medicine, the Company believes there is the opportunity to develop more than one True Human™ antibody, each specialized for specific areas of medicine. This strategy will potentially allow XBiotech to maximize value and exclusivity for its True Human™ anti-IL-1⍺ antibodies for various unique medical areas. The Company expects this will diversify risk for its anti-IL-1⍺ therapies, allow for multiple potential collaborations, and facilitate greater resource dedication to each True Human™ anti-inflammatory therapeutic.

    John Simard, XBiotech's President & CEO, stated, "We are elated to be able to so quickly advance a new True Human anti-IL-1⍺ antibody into commercialization. I am very proud of the extraordinary efforts the XBiotech team continues to make to advance our important programs in this extremely difficult environment. There can be no better organization utilizing as good a technological approach or medical target than what we are witnessing here at XBiotech, and the True Human antibody program to target IL-1⍺ mediated inflammation."

    About XBiotech
    XBiotech is a fully integrated, global biopharmaceutical company dedicated to pioneering the discovery, development and commercialization of therapeutic antibodies. XBiotech currently is advancing a pipeline of therapies by harnessing naturally occurring antibodies from patients with immunity to certain diseases. Utilizing natural human immunity as a source of new medicines offers the potential to redefine the standards of care for a wide range of diseases.

    On December 30, 2019 XBiotech sold an IL-1⍺ blocking True Human™ antibody that had been used successfully in a number of clinical trials. The sale of the antibody generated $750 million in upfront cash and up to $600 million in potential milestone payments. The Company retained the right to pursue the development of True Human™ antibodies targeting IL-1⍺ for all areas of medicine outside of dermatology. While the Company previously was focused on a single True Human™ antibody targeting IL-1⍺, it now plans to develop multiple product candidates, which will target IL-1⍺ in specific areas of medicine.

    In addition to recent sale of its anti-IL-1⍺ antibody, XBiotech now has other revenue sources. Commencing January 1, 2020 XBiotech began using its proprietary manufacturing technology to produce clinical drug product for a major Pharmaceutical Company under a two year supply agreement. In addition, XBiotech is providing clinical trial contract research operations to conduct two large, double-blind placebo controlled Phase II clinical studies. The financial strength generated from the sale and contract operations is enabling XBiotech to expand both its anti-IL-1⍺ product development and infectious disease programs.

    To accelerate advance of the Company's pipeline, the Company is expanding its existing manufacturing and research center, and planning to build an additional 30,000ft2 infectious disease research & development center on its 48-acre property in Austin, TX which is wholly owned by the Company. The expansion and new building will be in addition to the present custom-built 33,000ft2 combined manufacturing and R&D facility that currently exists on the campus. XBiotech owns the 48-acre campus—and all structures on the property—debt-free and envisions further expansion of facilities. For more information, visit www.xbiotech.com.

    About True Human™ Therapeutic Antibodies
    XBiotech's True Human™ antibodies are the only available antibodies derived without modification from humans who possess natural immunity to certain diseases. (Unlike all commercially available antibodies, which are called "Humanized" or "Fully Human," XBiotech's True Human™ antibodies are directly sourced from the natural human immune response for specific diseases without modification.) XBiotech's True Human™ antibodies have the potential to harness the body's natural immunity to fight disease with unprecedented safety, efficacy, and tolerability.

    Cautionary Note on Forward-Looking Statements
    This press release contains forward-looking statements, including declarations regarding management's beliefs and expectations, including with respect to XBiotech's strategic ambitions, regarding the expected timing of closing of the transaction with Janssen, filings and approvals relating to the transaction, the amount and timing of potential future milestone payments by Janssen, the mechanism of action and potential safety and efficacy of bermekimab, the anticipated timing of clinical studies with bermekimab, the progression and results of such studies, statements regarding the regulatory pathway for bermekimab and the timing of regulatory filings, and statements regarding any capital allocation decisions, including as to potential share repurchases. In some cases, you can identify forward-looking statements by terminology such as "may," "will," "should," "would," "could," "expects," "plans," "contemplate," "anticipates," "believes," "estimates," "predicts," "projects," "intend" or "continue" or the negative of such terms or other comparable terminology, although not all forward-looking statements contain these identifying words. Forward-looking statements are subject to inherent risks and uncertainties in predicting future results and conditions that could cause the actual results to differ materially from those projected in these forward-looking statements. These risks and uncertainties are subject to the disclosures set forth in the "Risk Factors" section of certain of our SEC filings. Forward-looking statements are not guarantees of future performance, and our actual results of operations, financial condition and liquidity, and the development of the industry in which we operate, may differ materially from the forward-looking statements contained in this press release. Any forward-looking statements that we make in this press release speak only as of the date of this press release. We assume no obligation to update our forward-looking statements whether as a result of new information, future events or otherwise, after the date of this press release.

    Contact
    Ashley Otero

    512-386-2930

    Primary Logo

    View Full Article Hide Full Article
  3. AUSTIN, Texas, April 03, 2020 (GLOBE NEWSWIRE) -- XBiotech Inc. (NASDAQ: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…

    AUSTIN, Texas, April 03, 2020 (GLOBE NEWSWIRE) -- XBiotech Inc. (NASDAQ: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).

    Plasma collected from these donors by the South Texas Blood & Tissue Center (STBTC), which also is a subsidiary of BioBridge Global, could be used to treat patients with serious and/or life-threatening COVID-19 infections.  STBTC will, in return, provide blood samples to XBiotech to enable the development of a candidate True Human™ antibody therapy for the disease.

    XBiotech is in the process of transferring the testing technology to QualTex and training its laboratory professionals to perform the assay in its San Antonio laboratory to enable rapid identification and potential use of the convalescent plasma at medical centers in Texas.

    "XBiotech is working to contribute solutions to reducing the impact of the COVID-19 pandemic," said Dr. Sushma Shivaswamy, Ph.D, XBiotech's Chief Scientific Officer. "Our unique human antibody technology at XBiotech has been developed specifically to address these kinds of issues.

    "We are humbled to be able to support BioBridge Global in its effort to use human convalescent donor blood to provide remedies for patients hospitalized with this deadly disease. XBiotech will continue to use its technology and resources to support the effort against COVID-19."

    Dr. Rachel Beddard, BioBridge Global Medical Director, also commented, "We are excited to be among the first to be able to provide our blood donors with the opportunity to help COVID-19 patients and their families fight this illness."

    About BioBridge Global
    BioBridge Global is a San Antonio-based 501(c)(3) nonprofit corporation that offers diverse services through its subsidiaries – the South Texas Blood & Tissue Center, QualTex Laboratories, GenCure and The Blood & Tissue Center Foundation. BBG provides products and services in blood resource management, cellular therapy, donated umbilical cord blood and human tissue as well as testing of blood, plasma and tissue products for clients in the United States and worldwide. BBG is committed to saving and enhancing lives through the healing power of human cells and tissue. It enables advances in the field of regenerative medicine by providing access to human cells and tissue, testing services and biomanufacturing and clinical trials support. Learn more at BioBridgeGlobal.org.

    About XBiotech
    XBiotech is a fully integrated, global biopharmaceutical company dedicated to pioneering the discovery, development and commercialization of therapeutic antibodies. XBiotech currently is advancing a pipeline of therapies based on harnessing naturally occurring antibodies from patients with immunity to certain diseases. The approach to use natural human immunity as a source of new medicines offers the potential to redefine the standards of care a wide range of diseases. Headquartered in Austin, Texas, XBiotech also is leading the development of innovative manufacturing technology to reduce the cost and complexity of biological drug production. For more information, visit www.xbiotech.com.

    About True Human™ Therapeutic Antibodies
    XBiotech's True Human™ antibodies are the only available antibodies derived without modification from humans who possess natural immunity to certain diseases. (Unlike all commercially available antibodies, which are called "Humanized" or "Fully Human", XBiotech's True Human™ antibodies are directly sourced from the natural human immune response for specific diseases without modification, and thereby have not been shown to cause immunogenicity.) With discovery and clinical programs across multiple disease areas, XBiotech's True Human antibodies have the potential to harness the body's natural immunity to fight disease with increased safety, efficacy and tolerability.

    Cautionary Note on Forward-Looking Statements
    This press release contains forward-looking statements, including declarations regarding management's beliefs and expectations that involve substantial risks and uncertainties. In some cases, you can identify forward-looking statements by terminology such as "may," "will," "should," "would," "could," "expects," "plans," "contemplate," "anticipates," "believes," "estimates," "predicts," "projects," "intend" or "continue" or the negative of such terms or other comparable terminology, although not all forward-looking statements contain these identifying words. Forward-looking statements are subject to inherent risks and uncertainties in predicting future results and conditions that could cause the actual results to differ materially from those projected in these forward-looking statements. These risks and uncertainties are subject to the disclosures set forth in the "Risk Factors" section of certain of our SEC filings. Forward-looking statements are not guarantees of future performance, and our actual results of operations, financial condition and liquidity, and the development of the industry in which we operate, may differ materially from the forward-looking statements contained in this press release. Any forward-looking statements that we make in this press release speak only as of the date of this press release. We assume no obligation to update our forward-looking statements whether as a result of new information, future events or otherwise, after the date of this press release.

    Contact XBiotech
    Ashley Otero

    512-386-2930

    Contact BioBridge Global
    Mary Uhlig

    210-731-5519

    Primary Logo

    View Full Article Hide Full Article
  4. AUSTIN, Texas, Feb. 19, 2020 (GLOBE NEWSWIRE) -- XBiotech Inc. (NASDAQ:XBIT) ("XBiotech") today announced the final results of its "modified Dutch auction" tender offer, which expired at 5:00 p.m., New York City time, on February 12, 2020.

    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. Not all shares tendered through notice of guaranteed delivery were delivered within the required settlement period.

    XBiotech has accepted for purchase 14,000,000 common shares at a price of $30.00 per share, for an aggregate cost of approximately…

    AUSTIN, Texas, Feb. 19, 2020 (GLOBE NEWSWIRE) -- XBiotech Inc. (NASDAQ:XBIT) ("XBiotech") today announced the final results of its "modified Dutch auction" tender offer, which expired at 5:00 p.m., New York City time, on February 12, 2020.

    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. Not all shares tendered through notice of guaranteed delivery were delivered within the required settlement period.

    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.  These shares represent approximately 32.67 percent of the common shares outstanding.  The final proration factor for shares that XBiotech has purchased pursuant to the tender offer is approximately 33.25 percent.

    To assist shareholders in determining the tax consequences of the tender offer, XBiotech estimates that for purposes of the Income Tax Act (Canada), the paid-up capital per common share was approximately C$8.45 and the "specified amount" (for purposes of subsection 191(4) of the Income Tax Act (Canada)) was C$28.90 as of February 18, 2020. In addition, for purposes of the Income Tax Act (Canada) and any applicable provincial legislation pertaining to eligible dividends, XBiotech designates the entire amount of the deemed dividend arising from its purchase of shares pursuant to the tender offer as an eligible dividend.

    Shareholders who have questions or would like additional information about the tender offer may contact the information agent for the tender offer, D.F. King & Co., Inc., at (212) 269-5550 (banks and brokers) or (866) 856-3065 (all others).

    About True Human™ Therapeutic Antibodies
    XBiotech's True Human™ antibodies are derived without modification from individuals who possess natural immunity to certain diseases. With discovery and clinical programs across multiple disease areas, XBiotech's True Human antibodies have the potential to harness the body's natural immunity to fight disease with increased safety, efficacy and tolerability.

    About XBiotech
    XBiotech is a fully integrated global biosciences company dedicated to pioneering the discovery, development and commercialization of therapeutic antibodies based on its True Human™ proprietary technology. XBiotech currently is advancing a robust pipeline of antibody therapies to redefine the standards of care in oncology, inflammatory conditions and infectious diseases. Headquartered in Austin, Texas, XBiotech also is leading the development of innovative biotech manufacturing technologies designed to more rapidly, cost-effectively and flexibly produce new therapies urgently needed by patients worldwide. For more information, visit www.xbiotech.com.

    Cautionary Note on Forward-Looking Statements
    This press release contains forward-looking statements, including declarations regarding management's beliefs and expectations that involve substantial risks and uncertainties. In some cases, you can identify forward-looking statements by terminology such as "may," "will," "should," "would," "could," "expects," "plans," "contemplate," "anticipates," "believes," "estimates," "predicts," "projects," "intend" or "continue" or the negative of such terms or other comparable terminology, although not all forward-looking statements contain these identifying words. Forward-looking statements are subject to inherent risks and uncertainties in predicting future results and conditions that could cause the actual results to differ materially from those projected in these forward-looking statements. These risks and uncertainties are subject to the disclosures set forth in the "Risk Factors" section of certain of our SEC filings. Forward-looking statements are not guarantees of future performance, and our actual results of operations, financial condition and liquidity, and the development of the industry in which we operate, may differ materially from the forward-looking statements contained in this press release. Any forward-looking statements that we make in this press release speak only as of the date of this press release. We assume no obligation to update our forward-looking statements whether as a result of new information, future events or otherwise, after the date of this press release.

    Contact
    Ashley Otero

    512-386-2930

    Primary Logo

    View Full Article Hide Full Article
  5. AUSTIN, Texas, Feb. 13, 2020 (GLOBE NEWSWIRE) -- This press release corrects a prior version published on February 13, 2020 and is updated to revise the preliminary proration factor.  The corrected press release reads:

    XBiotech Announces Preliminary Results of Tender Offer

    XBiotech Inc. (NASDAQ:XBIT) ("XBiotech") today announced the preliminary results of its "modified Dutch auction" tender offer, which expired at 5:00 p.m., New York City time, on February 12, 2020.

    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…

    AUSTIN, Texas, Feb. 13, 2020 (GLOBE NEWSWIRE) -- This press release corrects a prior version published on February 13, 2020 and is updated to revise the preliminary proration factor.  The corrected press release reads:

    XBiotech Announces Preliminary Results of Tender Offer

    XBiotech Inc. (NASDAQ:XBIT) ("XBiotech") today announced the preliminary results of its "modified Dutch auction" tender offer, which expired at 5:00 p.m., New York City time, on February 12, 2020.

    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.  The preliminary proration factor for shares that XBiotech expects to purchase pursuant to the tender offer (as corrected) is approximately 31.9 percent, after giving effect to odd lots.

    The number of shares to be purchased and the purchase price are preliminary and subject to change.  The preliminary information contained in this press release is subject to confirmation by the depositary and is based on the assumption that all shares tendered through notice of guaranteed delivery will be delivered within the two trading day settlement period.  The final number of shares to be purchased and the final purchase price will be announced following the expiration of the guaranteed delivery period and completion by the depositary of the confirmation process.  Payment for the shares accepted for purchase under the tender offer, and return of all other shares tendered and not purchased, will occur promptly thereafter.

    D.F. King & Co., Inc. is the information agent for the Offer. Shareholders with questions may call D.F. King at (212) 269-5550 (banks and brokers) or (866) 856-3065 (all others).

    About XBiotech

    XBiotech is a fully integrated, global biopharmaceutical company dedicated to pioneering the discovery, development and commercialization of therapeutic antibodies. XBiotech currently is advancing a pipeline of therapies by harnessing naturally occurring antibodies from patients with immunity to certain diseases. Utilizing natural human immunity as a source of new medicines offers the potential to redefine the standards of care for a wide range of diseases. The discovery and manufacturing techniques which enable this were designed by and are exclusive to XBiotech. Headquartered in Austin, Texas, XBiotech also leads the development of innovative, proprietary manufacturing technology to reduce the cost and complexity of biological drug production. For more information, visit www.xbiotech.com.

    Cautionary Note Regarding Forward-Looking Statements

    This press release contains forward-looking statements, including declarations regarding management's beliefs and expectations that involve substantial risks and uncertainties. In some cases, you can identify forward-looking statements by terminology such as "may," "will," "should," "would," "could," "expects," "plans," "contemplate," "anticipates," "believes," "estimates," "predicts," "projects," "intend" or "continue" or the negative of such terms or other comparable terminology, although not all forward-looking statements contain these identifying words. Forward-looking statements are subject to inherent risks and uncertainties in predicting future results and conditions that could cause the actual results to differ materially from those projected in these forward-looking statements. These risks and uncertainties are subject to the disclosures set forth in the "Risk Factors" section of certain of our SEC filings. Forward-looking statements are not guarantees of future performance, and our actual results of operations, financial condition and liquidity, and the development of the industry in which we operate, may differ materially from the forward-looking statements contained in this press release. Any forward-looking statements that we make in this press release speak only as of the date of this press release. We assume no obligation to update our forward-looking statements whether as a result of new information, future events or otherwise, after the date of this press release.

    Contact
    Ashley Otero

    512-386-2930

    Primary Logo

    View Full Article Hide Full Article
View All XBiotech Inc. News