NEW YORK, April 21, 2017
NEW YORK, April 21, 2017 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of XBiotech Inc. ("XBiotech" or the "Company") (NASDAQ: XBIT). Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 9980.
The investigation concerns whether Xbiotech and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On April 20, 2017, XBiotech 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. 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 advised investors that the key outstanding issues relate to clinical relevance of the therapy in the indication and quality assurance.
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On this news, XBiotech's share price has fallen as much as $7.22, or 42.42%, during intraday trading on April 21, 2017.
The Pomerantz Firm, with offices in New York, Chicago, Florida, and Los Angeles, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com
Robert S. Willoughby
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SOURCE Pomerantz LLP