XBIOTECH INC. (NASDAQ:XBIT) Files An 8-K Termination of a Material Definitive Agreement
Item 1.02
On May 30, 2019, XBiotech Inc. (the “Company”) and Piper Jaffray & Co (“Piper Jaffray”) consented to the termination of an Equity Distribution Agreement (the “Sales Agreement”), which was entered into on April 30, 2019 and described in a Form 8-K filing on May 1, 2019, with immediate effect.
About XBIOTECH INC. (NASDAQ:XBIT)
XBiotech Inc. is a clinical-stage biopharmaceutical company. The Company is engaged in discovering and developing True Human monoclonal antibodies for treating a range of diseases. The Company focuses on bringing its lead product candidate, Xilonix (MABp1), to market. The Company has also developed a True Human monoclonal antibody discovery platform and manufacturing system. The Company’s therapeutic antibody Xilonix is being evaluated as a monotherapy to treat advanced stages of colorectal cancer. Xilonix neutralizes a pro-inflammatory protein produced by leukocytes and other cells, interleukin-1 alpha (IL-1a). The Company completed a Phase I and II clinical trial for MABp1 as a treatment for cancer at MD Anderson Cancer Center. The Company is also investigating MABp1 in clinical trials for other indications, including vascular disease, type II diabetes, acne and psoriasis.