According to the Complaint, XBiotech, Inc. is a clinical-stage biopharmaceutical company engaged in discovering and developing True Human™ monoclonal antibodies for treating a variety of diseases. True Human monoclonal antibodies are those which occur naturally in human beings—as opposed to being derived from animal immunization or otherwise engineered. The Company concentrates on developing MABp1 (also known as Xilonix™, a therapeutic antibody used to treat different diseases such as cancer, vascular disease, inflammatory skin disease, and diabetes.

The Complaint alleges that throughout the Class Period, Defendants publicly issued materially false and misleading statements and omitted material facts necessary to make Defendants' statements not false or misleading, causing XBiotech’s securities to be artificially inflated.

This case was voluntarily dismissed on December 26, 2017.