XBiotech Shares Climb Nearly 8% in After Hours As Sale of Bermekimab Closes

   By Stephen Nakrosis

Shares of XBiotech Inc. (XBIT) are moving higher in Monday's after-hours market, after the company said it closed the sale of its True Human Antibody Bermekimab to Janssen Biotech Inc.

Janssen Biotech is a unit of Johnson & Johnson.

XBiotech said it received $750 million and could receive up to $600 million more upon completion of certain commercialization authorizations if Janssen pursues Bermekimab indications outside dermatology.

XBiotech said it remains free to use its True Human Antibody discovery program to develop other therapies.

At 4:27 p.m. EST, XBiotech shares had risen 7.68% to trade at $20.98, on volume of just over 1,300 shares.

--Write to Stephen Nakrosis at stephen.nakrosis@wsj.com

(END) Dow Jones Newswires

December 30, 2019 16:53 ET (21:53 GMT)

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