XBiotech's faith in Xilonix unshaken by EU blow but stock plummets by 40%

24 April 2017

The share price of XBiotech (Nasdaq: XBIT) plummeted by nearly 40% on Friday to $10.23 on news that the European Medicines Agency (EMA) had rendered a negative trend vote following discussions on the Day 180 List of Outstanding Issues related to the US biotech firm’s marketing authorization application (MAA) for Xilonix.

"The EMA MAA procedure enables the appeal of negative decisions from the oral explanation. We may seek access to this process"

XBiotech does not name Xilonix by name in its press release announcing the news with the company apparently changing the name of its candidate antibody for colorectal cancer to Hutruo, but whatever it is called, receiving a positive opinion from Committee for Medicinal Products for Human Use (CHMP) related to the MAA now looks unlikely at the formal decision vote scheduled in May.

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