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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