XBIT - XBIT's Tender: A Profitable Trade Or Capital Destruction?
Introduction:
XBiotech Inc. (XBIT) is a pre-market biopharmaceutical company. They are in the business of trying to develop and commercialize “True Human”™ monoclonal antibodies to treat various diseases including type 2 diabetes, infectious diseases, cardiovascular issues, and others. The organization has been listed since 2015.
Source: XBiotech USA Biopharmaceutical Next Generation Antibody Therapy
I was not aware of XBIT until January when management announced this tender offer; this is because Contra the Heard Investment Letter does not hold pre-revenue entities like XBiotech. Instead, we prefer established companies with long track records and revenues