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XBiotech up on discovery of COVID-19 candidates

August 17, 2020

Thinly traded micro cap XBiotech (NASDAQ:XBIT) is up 16% premarket on modestly higher volume in reaction to its announcement that it has identified True Human antibodies, derived without modification from humans, that could potentially be used to treat COVID-19.

It discovered the antibodies in blood samples from people who recovered quickly from the respiratory infection provided by collaboration partner BioBridge Global who is participating in a program to provide convalescent plasma to treat severely ill COVID-19 patients.

Aimed at accelerating advancement of its pipeline, the company is expanding its existing manufacturing and research center in Austin, TX with a new 30K sq. ft. infectious disease R&D facility.

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