Due Diligence for Investors in XBiotech, Inc.
In our links below, we have included a video conducted by Crystal Research with XBIT personnel that will give the viewer insight into the company and its technology. There is also the company form 10-Q for the period ending September 30, 2015 that details recent events, share structure and shows financial statements. We included a new company press release that details the positive results relative to a European Phase III clinical study of Xilonix(TM), a novel therapy for patients with symptomatic, advanced colorectal cancer. Lastly, we included a press release from the law firm of Howard G. Smith, which was one of many law firm press releases, seeking investors who lost money on XBIT shares over the past few weeks.
Our View: Yesterday was both a good day and a troublesome day for XBIT. Reaching an endpoint in a Phase III clinical study goes a long way toward validating the company’s technology. Today the company is also looking at several potential lawsuits that allege company misconduct caused the recent drop in the XBIT share price.
On November 23rd XBIT announced that there was a problem with some of the participants in the Phase III study being conducted in Europe. At that time the company shares were trading at $13.25 and the company promised an update within 10 days. The following day the share price dropped to $7.47 per share and lawsuits started to fly. Here we are, 10 days later and the company has issued the promised update, it was positive and the share price jumped right back to $13.03.
Multiple clinical trials testing Xilonix™ monotherapy have been conducted; including the treatment of late stage cancer, diabetes, vascular disease, acne and psoriasis. This puts XBIT in a good position for a successful clinical trial in several treatment areas that could create a marketable therapy. As it is with most development stage biopharmaceutical companies, if you believe the platform they are working with is viable, the shares may turn into a good investment.
YouTube – XBIT Introduction & Technology Video – May 28, 2015
SEC.gov – XBIT Form 10-Q – November 13, 2015
XBIT – Press Release – December 7, 2015
Law Offices of Howard G. Smith – Press Release – December 1, 2015
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