XBiotech sags after discontinuing Xilonix CRC study

XBiotech Inc. (NASDAQ:XBIT) plummeted $6.22 (66%) to $3.20 after it said it is discontinuing the Phase III XCITE trial of Xilonix to treat colorectal cancer (CRC). An IDMC recommended the study's termination based on an interim efficacy analysis. The company said it would analyze the data “in the coming weeks” to identify patient populations that may have benefited from treatment.

The placebo-controlled trial evaluated Xilonix plus best supportive care (BSC) in advanced CRC patients who failed regimens that included fluoropyrimidines, oxaliplatin, irinotecan and Erbitux cetuximab from Eli Lilly and Co. (NYSE:LLY), or Vectibix panitumumab from Amgen Inc. (NASDAQ:AMGN) in K-Ras (KRAS) mutation-positive patients. The trial’s primary endpoint was overall survival (OS)...