XBiotech shares crater as CHMP shudders at its application to sell Xilonix
It’s possible Austin-based XBiotech just doesn’t get it.
The EMA’s Committee for Medicinal Products for Human Use — the CHMP — put together an informal trend vote on the biotech’s application for Xilonix as a new drug for colorectal cancer, providing a hard signal the formal vote will go against XBiotech after concluding the biotech has no data to prove that the drug works.
Likely outcome: outright rejection. XBiotech’s shares cratered, dropping 35% on its latest setback, which has been coming hard and fast.
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