An investigation for investors in NASDAQ:XBIT shares over potential securities laws violations by XBiotech Inc and certain of its directors in connection certain financial statements was announced.
Investors who purchased shares of XBiotech Inc (NASDAQ:XBIT), have certain options and should contact the Shareholders Foundation at email@example.com or call +1(858) 779 – 1554.
The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of XBiotech Inc (NASDAQ:XBIT) concerning 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 November 23, 2015, XBiotech Inc (NASDAQ:XBIT) provided an update on the phase III oncology study in Europe. XBiotech Inc disclosed that data for 72 patients in its study of True Human(TM) therapeutic antibodies have been compromised and are not available for primary endpoint evaluation due to irregularities. XBiotech Inc said that these irregularities include patients dropping off the study prior to receiving any dosing with drug or placebo, erroneously receiving either placebo or study drug, and failing to receive scheduled DEXA scans, properly complete EORTC evaluation, or both.
Shares of XBiotech Inc (NASDAQ:XBIT) declined to as low as $8.14 per share on November 24, 2015.
On December 02, 2015, a lawsuit was filed against XBiotech Inc over alleged securities laws violations. the plaintiff claims that between April 15, 2015 and November 23, 2015 Defendants issued allegedly materially false and misleading statements to investors and/or failed to disclose that a fewer number of per protocol patients were available for primary endpoint evaluation in the Phase III Study, that the data from 72 patients of the Phase III Study was compromised, that XBiotech did not adequately sample patients to accommodate data loss, that as a result of not properly sampling patients for the Phase III Study, the Phase III Study would have reduced statistical power to demonstrate the proposed outcome, and that as a result of the foregoing, Defendants’ statements about its business, operations, and prospects, including statements about the Phase III Study and clinical development of Xilonix, were materially false and misleading and/or lacked a reasonable basis at all relevant times.
On July 02, 2016, XBiotech Inc (NASDAQ:XBIT announced positive results from a pivotal Phase III trial of Xilonix(TM), the company’s lead monoclonal (IgG1k) antibody immunotherapy for the treatment of advanced colorectal cancer (CRC).
Shares of XBiotech Inc (NASDAQ:XBIT) declined on July 5, 2016 to as low as $12.50 per share.
On August 2, 2016, NASDAQ:XBIT shares closed at $13.51 per share.
Those who purchased NASDAQ:XBIT shares have certain options and should contact the Shareholders Foundation.
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