April 21, 2017 (Shareholders Foundation) - An investigation on behalf of investors of XBiotech Inc (NASDAQ:XBIT) shares over potential securities laws violations by XBiotech Inc and certain of its directors and officers in connection certain financial statements was announced.

The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of XBiotech Inc (NASDAQ:XBIT) concerning whether a series of statements by XBiotech Inc regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

On April 20, 2017, XBiotech Inc h announced that the European Medicines Agency rendered a negative trend vote after meeting with the Company to discuss its marketing authorization application ('MAA') for XBiotech's candidate antibody for the treatment of colorectal cancer. XBiotech Inc said that the negative trend vote indicates that it is unlikely that the Committee for Medicinal Products for Human Use will vote in favor of the MAA at its formal decision vote scheduled for May. XBiotech Inc advised investors that the key outstanding issues relate to clinical relevance of the therapy in the indication and quality assurance.