Why Are XBiotech Shares Trading Higher Today

The French authority has signed off XBiotech Inc's XBIT multicenter randomized clinical study for Natrunix combined with trifluridine/tipiracil for colorectal cancer.
The French National Cancer Institute (INCA) has also awarded a grant to fund all clinical costs for the study.
Investigators will combine Natrunix and trifluridine/tipiracil as a new candidate therapy for metastatic colorectal cancer in subjects that have failed earlier treatment with oxaliplatin, irinotecan, and fluoropyrimidine.
The study will randomize patients to receive the Natrunix plus chemotherapy or placebo plus chemotherapy and is designed to seamlessly proceed to a Phase 3 study based on the achievement of certain early efficacy milestones.
The clinical program will include over 20 participating clinical centers and enroll at least 160 subjects.
The main objective of the phase 2 study is to evaluate the efficacy of Natrunix + trifluridine/tipiracil in comparison with placebo + trifluridine/tipiracil for 6-month overall survival in patients with refractory metastatic colorectal cancer.
Secondary efficacy measures will include progression-free survival, median overall survival, tolerance, quality of life, serum markers of inflammatory cytokines, and tumor markers.
Price Action: XBIT shares are up 24% at $9 during the market session on the last check Thursday.