XBiotech Inc. Company profile
About XBiotech Inc
XBiotech Inc. is a biopharmaceutical company that discovers and develops True Human monoclonal antibodies for treating a variety of diseases. The Company is engaged in the development of biotech manufacturing technologies designed to flexibly produce therapies. It has developed a pipeline of product candidates targeting both inflammatory and infectious diseases. It has also developed commercial scale manufacturing technology that reduces the time to launch new product candidates. It is focused on the therapies that block a potent substance naturally produced by body, known as interleukin-1 alpha (IL-1a), that mediates tissue breakdown, angiogenesis, the formation of blood clots and inflammation. IL-1a is a protein that is on or in cells of the body and is involved in the body’s response to injury or trauma. The Company's True Human antibody therapeutics are developed in-house using its discovery platform.
Financial summary
BRIEF: For the fiscal year ended 31 December 2021, XBiotech Inc revenues decreased 58% to $18.4M. Net loss increased 55% to $17.4M. Revenues reflect Clinical trial service revenue decrease of 98% to $394K, Other revenue decrease from $22K to $0K. Higher net loss reflects Research and Development increase from $3.3M to $14M (expense), Salaries and related expenses increase from $2.6M to $12.2M (expense).
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