XBiotech Announces Payment of Dividend to Holders of Common Stock

Rhea-AI Summary

XBiotech has distributed a total of USD $75 million to its shareholders through a dividend of USD $2.47 per share, paid on July 23, 2021. Over the past 18 months, the company has rewarded shareholders with approximately USD $495 million via dividends and stock repurchase programs. This financial strength stems from the development of its True Human™ antibody drug pipeline, alongside cost-effective manufacturing and clinical trial practices. CEO John Simard highlighted the company's commitment to shareholder returns, emphasizing their innovative approach in the industry.

Positive

• Distributed USD $75 million dividend, enhancing shareholder value.
• Total shareholder returns of approximately USD $495 million in 18 months.
• Strong balance sheet supports ongoing dividend payments.
• Innovative manufacturing and clinical trial methods reduce costs and enhance profitability.

Negative

• None.

Company distributed USD $75 Million to Shareholders

AUSTIN, Texas, July 30, 2021 (GLOBE NEWSWIRE) -- XBiotech Inc. (NASDAQ: XBIT) (“XBiotech”) has completed payment to holders of its Common Stock of a previously announced dividend in the amount of USD$75,000,000.00. Based on the number of shares of Common Stock issued and outstanding on the record date for the dividend, each such holder received USD$2.47 per share on July 23, 2021.

In the past 18 months, XBiotech’s balance sheet strength has enabled the company to offer approximately USD$495 million in cash to shareholders by way of stock repurchase and dividend distribution. The financial strength of the Company owes to the successful development of a pipeline of True Human™ antibody drug candidates.

John Simard stated that “XBiotech was pleased to be able to reward its shareholders with a $2.47 per share dividend. Our ability to continue to provide opportunities for shareholders to monetize stock in XBiotech, reflects the strength of our fundamental approach to our industry. It begins with a visionary strategy to create a drug pipeline from natural human immunity—which offers an array of exceptional candidate therapeutics. Proprietary manufacturing technology developed at XBiotech has reduced our capital outlays needed for producing drug product, enabling us to build a drug development infrastructure debt-free. Integrating clinical operations has allowed us to conduct our own clinical trials, to test our breakthrough therapies, for a fraction of the cost of the standard industry approach, which involves the use of expensive clinical research contractors. Finally, from our manufacturing technology and clinical operations, we have generated contract revenue that has largely offset operating costs over the past two years. In short, we have stayed the course with our science and pushed the boundaries of industry practices to develop breakthrough therapies, reduce costs and create returns for our shareholders. We have never been more excited about our pipeline and opportunities than we are today.”

About True Human™ Therapeutic Antibodies
XBiotech’s True Human™ antibodies are derived without modification from individuals who possess natural immunity to certain diseases. With discovery and clinical programs across multiple disease areas, XBiotech’s True Human™ antibodies have the potential to harness the body’s natural immunity to fight disease with increased safety, efficacy and tolerability.

About XBiotech
XBiotech is a fully integrated global biosciences company dedicated to pioneering the discovery, development and commercialization of therapeutic antibodies based on its True Human™ proprietary technology. XBiotech currently is advancing a robust pipeline of antibody therapies to redefine the standards of care in oncology, inflammatory conditions and infectious diseases. Headquartered in Austin, Texas, XBiotech is also leading the development of innovative biotech manufacturing technologies designed to more rapidly, cost-effectively and flexibly produce therapies urgently needed by patients worldwide. For more information, visit www.xbiotech.com.

Cautionary Note on Forward-Looking Statements 
This press release contains forward-looking statements, including declarations regarding management's beliefs and expectations that involve substantial risks and uncertainties. In some cases, you can identify forward-looking statements by terminology such as "may," "will," "should," "would," "could," "expects," "plans," "contemplate," "anticipates," "believes," "estimates," "predicts," "projects," "intend" or "continue" or the negative of such terms or other comparable terminology, although not all forward-looking statements contain these identifying words. Forward-looking statements are subject to inherent risks and uncertainties in predicting future results and conditions that could cause the actual results to differ materially from those projected in these forward-looking statements. These risks and uncertainties are subject to the disclosures set forth in the "Risk Factors" section of certain of our SEC filings. Forward-looking statements are not guarantees of future performance, and our actual results of operations, financial condition and liquidity, and the development of the industry in which we operate, may differ materially from the forward-looking statements contained in this press release. Any forward-looking statements that we make in this press release speak only as of the date of this press release. We assume no obligation to update our forward-looking statements whether as a result of new information, future events or otherwise, after the date of this press release.

Contact

Kaitlyn Hopkins
khopkins@xbiotech.com
Tel. 737-207-4600

FAQ

What was the dividend amount distributed by XBiotech?

XBiotech distributed a dividend of USD $75 million, equating to USD $2.47 per share.

When was the dividend paid to shareholders?

The dividend was paid on July 23, 2021.

How much has XBiotech returned to shareholders over the past 18 months?

XBiotech has returned approximately USD $495 million to shareholders through dividends and stock repurchases.

What is the significance of the True Human™ antibody drug pipeline?

The True Human™ pipeline is central to XBiotech's strategy, aimed at developing innovative therapies derived from natural human immunity.