An investigation for investors in XBiotech Inc (NASDAQ:XBIT) shares over potential securities laws violations by XBiotech Inc was announced and NASDAQ:XBIT stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 10/05/2017 -- An investigation was announced for investors of XBiotech Inc (NASDAQ:XBIT) shares over potential securities laws violations by XBiotech Inc.
Investors who purchased shares of XBiotech Inc (NASDAQ:XBIT), have certain options and should contact the Shareholders Foundation at email@example.com or call 858-779-1554.
The investigation by a law firm focuses on whether a series of statements by XBiotech Inc regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
On April 20, 2017, XBiotech Inc announced that the European Medicines Agency rendered a negative trend vote after meeting with the Company to discuss its marketing authorization application ("MAA") for XBiotech's candidate antibody for the treatment of colorectal cancer. XBiotech Inc said that the negative trend vote indicates that it is unlikely that the Committee for Medicinal Products for Human Use will vote in favor of the MAA at its formal decision vote scheduled for May. XBiotech Inc advised investors that the key outstanding issues relate to clinical relevance of the therapy in the indication and quality assurance.
On June 9, 2017, XBiotech Inc announced it had discontinued a Phase 3 study for the treatment after the findings "were not sufficient to meet efficacy or the threshold for continuation."
Those who purchased shares of XBiotech Inc (NASDAQ:XBIT) have certain options and should contact the Shareholders Foundation.
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