XBIT - XBiotech: True Human Antibody Developer Needs More Candidates In The Clinic

• XBiotech is an interesting biotech focused on developing True Human antibodies, i.e. derived from natural human immune responses.
• The company has been in existence since 2005. Its one major success has been the sale of dermatology treatment bermekimab to Janssen in a $1.3m deal.
• XBiotech has its own fully owned campus and research facilities primarily targeting infectious diseases and IL-1a therapeutics.
• With a market cap of $560m and $300m of near-term cash, arguably, the company is an intriguing investment opportunity, but the lack of a near-term pipeline is concerning.
• There is a potentially strong COVID therapy in development which could be combined with a flu treatment, but official clinical trials have not begun. It's hard to see where the pipeline value is.

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