NEW YORK, July 26, 2016 /PRNewswire/ -- Levi & Korsinsky announces it has commenced an investigation of XBiotech, Inc. (NASDAQGS: XBIT) ("XBiotech") concerning possible violations of federal securities laws by the Company and/or certain of its officers and directors.
On July 2, 2016, the European Society of Medical Oncology announced that it deemed results from XBiotech's phase III study of Xilonix unreliable. In a statement from the ESMO, Dr. Dirk Arnold said "the jury is still out on whether the study made sense but as the results do not bear close inspection, they also cannot be relied upon." Following this news, shares of XBiotech have fallen, closing at $24.90 per share prior to the announcement, and dropping to a most recent close of just $14.95 per share on July 15, 2016. To obtain additional information, go to:
or contact Joseph E. Levi, Esq. either via email at [email protected] or by telephone at (212) 363-7500, toll-free: (877) 363-5972.
Levi & Korsinsky is a national firm with offices in New York, New Jersey, California, Connecticut and Washington D.C. The firm's attorneys have extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT: Levi & Korsinsky, LLP Eduard Korsinsky, Esq. 30 Broad Street - 24th Floor New York, NY 10004 Tel: (212) 363-7500 Toll Free: (877) 363-5972 Fax: (212) 363-7171 www.zlk.com