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NEW YORK, Jan. 14, 2025 (GLOBE NEWSWIRE) -- Wolf Haldenstein Adler Freeman & Herz LLP ("Wolf Haldenstein"), a preeminent national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of XBiotech Inc. (“XBiotech”) (NASDAQ: XBIT)
The investigation concerns whether XBiotech and certain of its officers and/or directors have engaged in securities fraud.
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On December 23, 2024, XBiotech announced that it was pausing the phase 2 rheumatoid arthritis program for its drug candidate, Natrunix while it seeks to understand the outcome from its recently completed Phase II, Double-Blind, Placebo-Controlled, Randomized study. According to the company, the program was paused due to its failure to meet the primary endpoint. The Company added that it suffered from“substantial irregularities that make unequivocal interpretation of the findings difficult.” XBiotech was planning the launch of additional studies in arthritis as well as other areas of rheumatology, including ankylosing spondylitis, which are now on hold while recent findings are evaluated.
Irregularities in the Phase II study involved the highest enrolling clinical sites, including numerous subjects being enrolled multiple times. Although the study did not meet efficacy endpoints, discrepancies found during data analysis suggest caution in interpreting results. Findings of the study are still being analyzed to better understand the implications of the findings and determine how these results can be used to guide potential further rheumatology studies for Natrunix.
On this news, the stock price dropped more than 29% from $6.38 to $4.50 per share.
Wolf Haldenstein has experience in the prosecution of securities class actions and derivative litigation in state and federal trial and appellate courts across the country. The firm has attorneys in various practice areas, and offices in New York, Chicago, Nashville and San Diego. The reputation and expertise of this firm in shareholder and other class litigation has been repeatedly lauded by the courts, which have appointed it to major positions in complex securities, multi-district and consolidated litigation.
If you wish to discuss this investigation or have any questions regarding your rights and interests, please immediately contact Wolf Haldenstein by telephone at (800) 575-0735 or via e-mail at ... .
Contact:
Wolf Haldenstein Adler Freeman & Herz LLP
Gregory Stone, Director of Case and Financial Analysis
Email: ... or ...
Tel: (800) 575-0735 or (212) 545-4774
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