The company's offer to buy back shares was overtendered, resulting in a prorated deal.
News & Analysis: Xbiotech
The company is offering to buy back shares from investors at a big premium.
XBiotech announced a massive deal with Johnson & Johnson subsidiary Janssen, which is thrusting the overlooked biopharma onto the radars of investors.
Disappointing trials from XBiotech, Merrimack Pharmaceuticals, and NewLink Genetics have earned the market's ire. But are their declines overdone?
Investors are focused on the wrong data.
A European approval seems unlikely.
Without much to go on, investors wonder how well the biotech's colon-cancer drug Xilonix works.
Positive data despite clinical trial irregularities.